TRATON SE / Key word(s): Change in Forecast/Quarterly / Interim Statement
TRATON SE: TRATON SE announces preliminary Q1 2021 results and raises its outlook for financial year 2021
19-Apr-2021 / 20:13 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
TRATON SE announces preliminary Q1 2021 results and raises its outlook for financial year 2021
Munich, April 19th, 2021 - Despite the ongoing unprecedented COVID-19-situation, the TRATON GROUP has experienced a robust development in the course of the first three months of 2021. The unit sales of the TRATON GROUP further recovered in the first quarter and exceeded the unit sales of Q1 2020 significantly. The sales revenue grew also considerably in year over year comparison. The net cash flow of the industrial business continued to show a very positive development compared to Q1 2020.
Based on preliminary figures, the TRATON GROUP expects for Q1 2021:
The definition of the adjusted operating profit is to be found on page 38 of the annual report 2020
Based on the better than expected development in the first quarter of 2021 the company is raising its outlook for financial year 2021: For the TRATON GROUP, we are now forecasting an operating return on sales of 5.0% to 7.0% (before 5.0% to 6.0%). Due to the restructuring program in the MAN Truck & Bus business the cash conversion rate is no longer considered a meaningful indicator for the current financial year. We forecast for the industrial business a net cash flow in a bandwidth of 500 to 700 million Euros. The forecast does not contain any expenses or expenditures for the MAN Truck & Bus restructuring program nor from the planned acquisition of Navistar. The ranges express the still high uncertainty about the course of the COVID-19 pandemic and the associated countermeasures of the respective countries as well as possible effects on production and supply chains.
TRATON will publish its interim statement with details on the development of Q1 2021 as planned on May 10, 2021.
- A sales revenue of around 6.5 billion Euros,
- An adjusted operating profit of around 510 million Euros and an adjusted operating return on sales margin of around 7.9%,
- An operating profit of around 150 million Euros; this includes 362 million Euros provisions for the restructuring of MAN,
- The industrial business net cash flow amounted to around 390 million Euros.
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