FUSO shows strong performance, Daimler Truck achieves record revenues in 2023

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Mitsubishi Fuso Truck & Bus Corporation has announced that majority shareholder Daimler Truck achieved financial targets for 2023.

◆ Daimler Truck once again increased its unit sales worldwide in 2023 despite

supply bottlenecks in important regions, selling 526,053 trucks and buses (2022:

520,291 units). The company benefitted from strong demand in its key markets to

deliver record-level results in revenue of €55.9 billion (2022: €50.9), adjusted

EBIT €5, 489 million (2022: €3,959), and free cash flow for a robust outlook for

2024.

◆ The group’s Trucks Asia segment, which includes the FUSO brand, increased

unit sales by 3% to 161,171 units and increased revenue by 9% to €7,060 million.

Adjusted EBIT increased by 93% to €330 million and adjusted RoS reached 4.7%.

◆ In Europe, FUSO achieved its highest sales result since 2007 with more than

10,000 units in sales, a 14% increase from 2022. Vehicle production also

increased by 10%, including more than 600 eCanters. Additionally, FUSO Europe

achieved its best after-sales revenue to date with a record year in both the parts

and remanufactured parts businesses. Europe remains a key ZEV market and an

active base for eCanter activities including sales training, fleet testing, drive

events, and sales.

◆ FUSO eCanter sales reached an all-time high with 1,680 units in 2023. Since

launching the eCanter in Japan in 2017 as the first all-electric light-duty truck in

series production, MFTBC has continued to expand eCanter sales to global

markets, aided by the offering of eMobility solutions such as FUSO Green

Lease, which was designed specifically to help customers transition to EV

fleets.

The new eCanter debuted at trade shows in other core FUSO markets. This

shows MFTBC’s commitment to ZEVs on a global level with more launches

planned internationally in 2024, and reflects the strong demand of customers for

EV trucks and related services worldwide.

Overall, MFTBC has achieved strong results in key markets, despite supply chain

bottlenecks and global logistics. As part of Daimler Truck, MFTBC keeps working

towards its ambitions to lead the industry’s transformation to zero-emission

transportation, as well as to lead in sustained profitability.

“Daimler Truck Asia and MFTBC achieved excellent results in 2023,” said Karl

Deppen, Head of Daimler Truck Asia and President & CEO of MFTBC. “We

are truly grateful for the support and loyalty of our customers, employees and

partners who contributed to these achievements – Our unit sales climbed 3% and

revenue was up by 9%. In addition to that, our adjusted EBIT increased even

further. This shows our commitment to resilient financial performance and our

ability to be sustainably successful. In particular, our FUSO brand demonstrated

strong leadership in the ZEV market, thanks to the introduction of our latest allelectric

eCanter in multiple international markets and the welcoming reception of

customers worldwide.”