Daimler Truck : Interim Report Q1 2024

Interim Report Q1 2024

Daimler Truck | Interim Report Q1 2024

2

Contents

Q1 Key Figures Group	3
Q1 Key Figures Segments	4
About this report	5
A | Interim Group Management Report	6 - 21
Business Development	6
Important Events	8
Profitability	9
Liquidity and Capital Resources	14
Financial Position	17
Risk and Opportunity Report	19
Outlook	20
B | Interim Consolidated Financial Statements	22 - 37
Consolidated Statement of Income	22
Consolidated Statement of Comprehensive Income	23
Consolidated Statement of Financial Position	24
Consolidated Statement of Cash Flows	25
Consolidated Statement of Changes in Equity	26
Notes to the Condensed Interim Consolidated Financial Statements	27
Auditor's Review Report	38

Further Information

39

Daimler Truck | Interim Report Q1 2024

3

Q1 Key Figures for the Group

Key figures Daimler Truck Group

In millions of euros	Q1 2024	Q1 2023		% change
Unit sales	108,911	125,172		-13
of which zero-emission vehicles	813	287		+183
Revenue	13,263	13,200		+0	¹
Revenue of the Industrial Business2	12,481	12,588		-1
EBIT	1,131	1,121		+1
EBIT of the Industrial Business	1,081	1,077		+0
Adjusted EBIT	1,210	1,162		+4
Adjusted EBIT of the Industrial Business	1,159	1,110		+4
Return on sales of the Industrial Business (in %)	8.7	8.6		-
Adjusted return on sales of the Industrial Business (in %)	9.3	8.8		-
Return on capital employed of the Industrial Business	39.5	39.8		-
Net profit (loss)	847	795		+7
Earnings per share (in euros)	1.00	0.90		+11
Free cash flow of the Industrial Business	1,213	168		+623
Adjusted free cash flow of the Industrial Business	1,292	355		+264
Net liquidity of the Industrial Business	9,360	8,322	⁴	+12
Investments in property, plant and equipment	187	155		+21
Research and development expenditure	509	440		+16
of which capitalized	114	34		+231
Active workforce3	104,213	104,416	⁴	-0

Group (amounts in billions of euros)

Sum of investments in PP&E and

Share price performance of Daimler Truck Holding AG

in euros	Q4 2023	Q1 2024
Closing price XETRA
High	34.23	47.64
Low	28.22	30.88
Quarter-end closing price	34.02	46.96
Quarter-end number of shares outstanding (in thousands)	805,283	804,094

• Adjusted for exchange rate effects, revenue increased by 3%.

• The Industrial Business comprises the automotive segments Trucks North America, Mercedes-Benz, Trucks Asia and Daimler Buses, as well as the reconciliation.

• This reflects the active workforce excluding vacation employment as a full-time equivalent.
  4 At December 31, 2023.

Industrial Business (amounts in billions of euros)

2023 2024

Revenue

Adjusted EBIT

research and development expenditure

Unit sales (in thousands of units)

Adjusted return on sales (in %)

Free cash flow

	13.9	15.0		1.6		1.1
13.2 13.3	13.9		1.4
				1.3
			1.2	1.2
				0.7	0.6	0.7
				0.6

125 132 129

109

140

	10.3	10.6	1.2	1.2
	9.3	9.8
8.8			1.1
				0.4
			0.2

	0.0	0.0	0.0			0.0	0.0	0.0			0.0	0.0	0.0
Q1	Q2	Q3	Q4		Q1	Q2	Q3	Q4		Q1	Q2	Q3	Q4

0 0 0

Q1 Q2 Q3 Q4

	0.0	0.0	0.0			0.0	0.0	0.0
Q1	Q2	Q3	Q4		Q1	Q2	Q3	Q4

Daimler Truck | Interim Report Q1 2024

4

Q1 Key Figures for the Segments

	Trucks North America		Mercedes-Benz			Trucks Asia				Daimler Buses		Financial Services
	Q1 2024	Q1 2023		% change	Q1 2024	Q1 2023		% change	Q1 2024	Q1 2023		% change	Q1 2024	Q1 2023		% change	Q1 2024	Q1 2023		% change
In millions of euros
Unit sales	46,220	48,891		-5	31,885	34,492		-8	28,457	40,210		-29	5,604	5,570		+1	-	-		-
Revenue	5,808	5,807		+0	4,826	4,990		-3	1,506	1,761		-14	1,176	950		+24	781	612		+28
EBIT	724	675		+7	382	424		-10	49	80		-39	59	9		+535	50	44		+14
Adjusted EBIT	724	675		+7	421	440		-4	49	80		-39	59	9		+535	51	52		-1
Return on sales (in %)1	12.5	11.6		-	7.9	8.5		-	3.3	4.6		-	5.0	1.0		-	8.0	7.9		-
Adjusted return on sales (in %)2	12.5	11.6		-	8.7	8.8		-	3.3	4.6		-	5.0	1.0		-	8.2	9.2		-
Investment in property, plant and equipment	28	18		+60	124	102		+22	20	17		+19	13	13		-2	-	-		-
Research and development expenditure	159	158		+1	217	163		+33	35	49		-29	53	37		+43	-	-		-
of which capitalized	19	-		-	59	21		+179	2	12		-88	0	1		-62	-	-		-
New business	-	-		-	-	-		-	-	-		-	-	-		-	2,775	2,401		+16
Contract volume	-	-		-	-	-		-	-	-		-	-	-		-	29,877	28,277	⁴	+6
Active workforce3	28,852	28,833	⁴	+0	38,857	38,470	⁴	+1	16,557	16,823	⁴	-2	15,540	15,480	⁴	+0	1,829	1,818	⁴	+1

• Return on equity for Financial Services.

• Adjusted return on equity for Financial Services.

• This reflects the active workforce excluding vacation employment as a full-time equivalent.
  4 At December 31, 2023.

Daimler Truck | Interim Report Q1 2024

5

About this report

Structure and segments of the Daimler Truck Group

From a business perspective, a distinction is made at selected points between Industrial Business and Financial Services. The Industrial Business comprises the vehicle segments Trucks North America, Mercedes-Benz, Trucks Asia, Daimler Buses and the reconciliation. Financial Services corresponds to the Financial Services segment. The eliminations of intra-Group transactions between the Industrial Business and Financial Services are generally allocated to the Industrial Business and are reported in the reconciliation.

Additional Information

This Interim Report provides information to assess any change in financial position, liquidity and capital resources and profitability as well as in the expected development compared to the annual financial reporting for the 2023 reporting year.

Detailed information on Daimler Truck's performance measurement system, including an explanation of financial and non-financial performance measures, performance indicators and the underlying quantitative ranges for the qualitative-comparative description of changes can be found from page 36 in the chapter "Corporate Profile" in the combined management report of the Annual Report for the 2023 reporting year at wwww.daimlertruck.com/en/investors/reports/financial-reports.

The 2023 Annual Report contains detailed information on objectives and strategy, business model, sustainability reporting and corporate governance of the Daimler Truck Group.

Audit review

These Interim Consolidated Financial Statements, consisting of the Consolidated Statement of Income, Consolidated Statement of Comprehensive Income, Consolidated Statement of Financial Position, Consolidated Statement of Cash Flows, Consolidated Statement of Changes in Equity and Notes to the Condensed Interim Consolidated Financial Statements as well as the Interim Group Management Report were subject to an audit review by KPMG AG Wirtschaftsprüfungsgesellschaft.

Digital report

For sustainability reasons, annual and interim reports are not printed. These are made available at wwww.daimlertruck.com/en/investors/reports/financial-reports and are available for download as a PDF. The report in this PDF format is optimized for use on PCs and tablets and contains interactive elements. Tables of contents, page headers and references internal and external to the report are linked to the corresponding content.

Editorial notes

Due to rounding, individual figures may not add up precisely to the totals shown and percentages presented may not accurately reflect the absolute values to which they relate. This report is available in German and English. The German version is binding. For better readability, names, brands and registered trademarks are not identified in this report.

Diversity, equal opportunities and inclusion are important to us For this reason, we use gender-neutral language throughout this report. In the interest of readability, we use the generic masculine form for terms with legal meaning. In these cases, the terms chosen include all gender identities without limitation.

Navigation symbols

• Reference to an illustration or table in the report.

• Reference to further information on the Internet.

• Reference within the report.

Forward-looking statements:

This document contains forward-looking statements that reflect our current views about future events. The words "aim", "ambition", "anticipate", "assume", "believe", "estimate", "expect", "intend", "may", "can", "could", "plan", "project", "should" and similar expressions are used to identify forward-looking statements. These statements are subject to many risks and uncertainties, including an adverse development of global economic conditions, in particular a decline of demand in our most important markets; a deterioration of our refinancing possibilities on the credit and financial markets; events of force majeure including natural disasters, pandemics, acts of terrorism, political unrest, armed conflicts, industrial accidents and their effects on our sales, purchasing, production or financial services activities; changes in currency exchange rates, customs and foreign trade provisions; a shift in consumer preferences; a possible lack of acceptance of our products or services which limits our ability to achieve prices and adequately utilise our production capacities; price increases for fuel or raw materials; disruption of production due to shortages of materials, labour strikes or supplier insolvencies; a decline in resale prices of used vehicles; the effective implementation of cost-reduction and efficiency-optimisation measures; the business outlook for companies in which we hold a significant equity interest; the successful implementation of strategic cooperations and joint ventures; changes in laws, regulations and government policies, particularly those relating to vehicle emissions, fuel economy and safety; the resolution of pending government investigations or of investigations requested by governments and the conclusion of pending or threatened future legal proceedings; and other risks and uncertainties, some of which are described under the heading "Risk and Opportunity Report" in the current Annual Report. If any of these risks and uncertainties materializes, or if the assumptions underlying any of our forward-looking statements prove to be incorrect, the actual results may be materially different from those we express or imply by such statements. We do not intend or assume any obligation to update these forward- looking statements since they are based solely on the circumstances at the date of publication.

Daimler Truck | Interim Report Q1 2024

Key Figures

Interim Group Management Report

Interim Consolidated Financial Statements

Further Information

> Business Development

6

Interim Group Management Report

Daimler Truck with a solid Q1 2024

• Unit sales at 108,911 (Q1 2023: 125,172) units
• Revenue at €13.3 billion (Q1 2023: €13.2 billion)
• Group EBIT at €1,131 million (Q1 2023: €1,121 million); adjusted Group EBIT of €1,210 million (Q1 2023: €1,162 million)
• Net profit at €847 million (Q1 2023: €795 million)
• Free cash flow of the Industrial Business at €1,213 million (Q1 2023: €168 million)

Outlook for the 2024 financial year unchanged

• At Group level, revenue of €55 bn. to €57 bn. and EBIT on prior year level is expected
• In the Industrial Business, sales of 490 to 510 thousand units, adjusted return on sales of 9% bis 10.5% and a slight increase in free cash flow of the Industrial Business is expected

Business Development

The development of the global economy was stable in the first quarter of 2024. In a still restrictive monetary policy environment, the increase in consumer prices has slowed in many regions. Energy prices showed no significant upward movement and exhibited less volatility.

The US economy performed solid at the beginning of the year. Private consumption remained robust, which was supported by the continued strong labor market. However, industrial production still lacked momentum. The inflation rate was still above the target rate, so the Federal Reserve Bank (Fed) did not cut interest rates and left the key interest rate in the corridor of 5.25% to 5.50%.

Consumer price inflation in the eurozone continued to move towards the target, but was still above 2.0%. The European Central Bank (ECB) therefore left the key interest rate unchanged at 4.5% in the first quarter. The high interest rates continued to dampen private consumption, and retail sales continued their negative trend. So far, industrial production has also not recovered.

In this environment, truck demand has normalized: coming off its high level, the North American market for heavy-duty trucks (Class 8) declined by 5% in the first quarter of 2024. The market for heavy-duty trucks in the EU30 region (European Union, United Kingdom, Switzerland, Norway) also decreased by 5% compared to the previous-year level. However, the monthly offset must be taken into account: The intra-year values for the overall truck markets include the months of January and February for the first quarter 2024.

Group sales below prior-year level

In the first quarter of 2024, the Daimler Truck Group (hereinafter also referred to as "Daimler Truck" or "Group") sold 108,911 (Q1 2023: 125,172) units worldwide, in line with the expected normalization of the truck markets. The share of zero-emission vehicles has increased significantly to 813 (Q1 2023: 287) units. ä A.01

In the first quarter of 2024, the Trucks North America segment recorded unit sales of 46,220 (Q1 2023: 48,891). The slight decline in unit sales was mainly due to declining catch-up effects, particularly in long-haul transport. The segment sold fewer vehicles in the USA, with 39,263 units (-6%) and in Mexico, with 2,825 units (-4%).

The Mercedes-Benz segment sold 31,885 (Q1 2023: 34,492) vehicles in the first quarter of 2024. This development was mainly due to the market decline in the EU30 region, as a result of which sales fell by 12% to 18,288 units. In contrast, the segment in Brazil, our main market in Latin America, recorded a significant increase in sales of 144% to 5,102 units due to a recovery following the introduction of the Euro VI emissions standard.

Unit sales in the Trucks Asia segment decreased significantly by 29% to 28,457 trucks in the first quarter of 2024. The significant decline in unit sales was mainly due to the market decline in Indonesia due to the presidential elections, as a result of which local sales fell to 3,065 units (-68%). Other Asian markets also showed declines due to the economic and political market environment.

Daimler Truck | Interim Report Q1 2024	Key Figures
	Interim Group Management Report	> Business Development
	Interim Consolidated Financial Statements
	Further Information

7

Unit sales from our Chinese joint venture Beijing Foton Daimler Automotive Co., Ltd. (BFDA), to which trucks of the Auman brand contribute, showed a significant decline of 11% compared to the same quarter last year with 17,518 (Q1 2023: 19,575). The unit sales development was mainly due to the market decline in China.

Daimler Buses achieved sales on prior-year level with 5,604 units in the first quarter of 2024 (Q1 2023: 5,570). The segment achieved a significant increase in sales in North America to 1,027 units (+60%), particularly due to developments in Mexico. In contrast, sales in Latin America (excluding Mexico) fell by 15% to 2,591 units and in the EU30 region by 1% to 1,459 units.

A.01

Unit sales1
	Q1 2024	Q1 2023	% change
Daimler Truck Group	108,911	125,172	-13
of which zero-emission vehicles	813	287	+183
Trucks North America	46,220	48,891	-5
Mercedes-Benz	31,885	34,492	-8
Trucks Asia	28,457	40,210	-29
Daimler Buses	5,604	5,570	+1

• The total of the segments does not correspond to group sales due to eliminations between the segments.

In the first quarter of 2024, the Financial Services segment concluded new financing and leasing contracts worldwide totaling €2.8 billion (+16%). Due to an increase in business in the ramp-up market in Germany, new business in the Europe and South America region rose particularly strongly (+24%). The North America region also recorded significant growth (+13%), while the Asia region (+2%) was slightly above the prior-year level. The contract volume at the end of March 2024 was €29.9 billion, slightly above the level at the end of the previous year (+6%). Adjusted for exchange rate effects, the contract volume grew slightly compared to the end of the previous year (+5%).

Investments in property, plant and equipment of the Daimler Truck Group amounted to €187 million in the first quarter of 2024 (Q1 2023: €155 million).

Research and development expenditure including capitalization amounted to €509 million in the first quarter (Q1 2023:

€440 million).

Daimler Truck | Interim Report Q1 2024

Key Figures

Interim Group Management Report

Interim Consolidated Financial Statements

Further Information

> Important Events

8

Important Events

Eva Scherer as new CFO of Daimler Truck

The Daimler Truck Supervisory Board appointed Eva Scherer as a new member of the Board of Management of Daimler Truck Holding AG with effect from April 1, 2024. As Chief Financial Officer (CFO), Eva Scherer is responsible for Finance and Controlling at Daimler Truck. The appointment is made for three years until March 31, 2027.

Selection of Mississippi for battery cell production

Accelera by Cummins, Daimler Truck and PACCAR selected Marshall County, in the state of Mississippi, as the future site of advanced battery cell production for their planned joint venture. The joint venture will localize battery cell production for commercial electric vehicles and is expected to create more than 2,000 U.S. manufacturing jobs, with the option for further expansion as demand grows. The 21-gigawatt hour factory is expected to begin producing battery cells in 2027.

60th anniversary of the Fuso plant in Portugal

Daimler Truck announced the 60th anniversary of the production facility in Tramagal, Portugal. The Mitsubishi Fuso Truck Europe S.A. plant is one of the largest employers in the region and the third- largest automobile manufacturer in Portugal. In 2023, the plant built approximately 11,800 trucks, setting an all-time production record for the facility.

First customer deliveries of RIZON trucks

The first all-electric RIZON trucks were handed over to customers in California. The all-electric US class 4 and 5 trucks address a diverse range of customers and emphasize Daimler Truck's commitment to sustainable transport solutions.

Options for green liquid hydrogen supply to Europe Daimler Truck and Masdar have signed a Memorandum of Understanding to explore the feasibility of green liquid hydrogen supply options from Abu Dhabi to Europe. The Initiative has significant potential to enable decarbonized road freight transport in Europe. The agreement supports the United Arab Emirates' ambition of becoming a leading producer and supplier in the low-carbon hydrogen market by 2031, as well as the European Green Deal emission reduction targets.

New standard for liquid hydrogen refueling technology Daimler Truck and Linde Engineering have presented sLH2, a jointly developed refueling technology for subcooled liquid hydrogen. Compared to gaseous hydrogen, the technology enables higher storage density, greater range, faster refueling, lower costs and superior energy efficiency. The first public sLH2 filling station was inaugurated in Wörth am Rhein and will also be used by selected logistics customers for initial customer trials with the Mercedes-Benz GenH2 truck from mid-2024.

Ambitious goals for the future of Daimler Buses

The segment is already the market leader in all its global core markets and intends to further expand market leadership by 2030. Furthermore, the consistent expansion of the e-bus portfolio and service offering will be driven forward, as well as a common e- powertrain, components and technologies within the Daimler Truck Group. As already communicated at the Capital Market Day 2023, the manufacturer also aims to achieve an adjusted return on sales of nine percent by the end of the decade, assuming favorable market conditions. Daimler Buses plans to reach eight percent by as early as 2025. The plans are for the company to become more profitable even in a less than ideal market environment. In doing so, the manufacturer primarily wants to make the necessary investments in respect of transformation and to strengthen its competitiveness in the long term.

New rental business in Brazil

Daimler Truck Financial Services launched the rental business for truck and bus customers in Brazil. Rental contracts for 100 Mercedes-Benz Actros, Atego and Accelo with terms of 36, 48 and 60 months are on offer. The package includes preventive maintenance, fleet management, documentation, insurance, and connectivity services and is available in more than 180 dealerships.

1,000th delivery of Jouley battery-electric school bus

The electric school bus model in the Thomas Built Buses product portfolio, was introduced in 2017, pioneering the way to all electric school bus transportation. The 1,000th Saf-T-Liner C2 Jouley is part of a larger order and goes to a school district in the US state of Georgia.

New tailor-made credit line

Daimler Truck AG has signed a new revolving credit line worth €5 billion. The company is taking advantage of the currently attractive conditions on the credit market and is replacing the syndicated credit line that has existed since the spin-off in the same amount before it reaches maturity.

Daimler Truck | Interim Report Q1 2024

Key Figures

Interim Group Management Report

Interim Consolidated Financial Statements

Further Information

> Profitability

9

Profitability, Liquidity and Capital Resources, and Financial Position

In order to provide a better insight into profitability, liquidity and capital resources, and financial position, the Condensed Consolidated Statement of Income, Condensed Consolidated Statement of Cash Flows, and Condensed Consolidated Statement of Financial Position are presented for the Daimler Truck Group, and additionally for Industrial Business and Financial Services. The Industrial Business and Financial Services columns represent a business perspective. The Industrial Business comprises the automotive segments Trucks North America, Mercedes-Benz, Trucks Asia and Daimler Buses, and the reconciliation. Financial Services corresponds to the Financial Services segment. The elimination of intra-Group transactions between the Industrial Business and Financial Services are generally allocated to the Industrial Business and are reported under reconciliation.

The following information explains the changes in the reporting year compared to the prior year and takes into account all effects that are significant from the Daimler Truck Group perspective.

The definition of sensitivities for the qualitative-comparative description of changes in key figures ("on", "slightly" and "significantly" above or below the prior-year level) can be found from page 36 in chapter "Corporate Profile" in the combined management report of the Annual Report for the 2023 reporting year at

• www.daimlertruck.com/en/investors/reports/financial-reports.

Due to rounding, individual amounts may not add up precisely to the totals shown and percentages presented may not accurately reflect the absolute values to which they relate.

Further information on profitability, liquidity and financial position of the Group is provided in the Consolidated Statement of Income

• B.01, the Consolidated Statement of Comprehensive

Income ä B.02, the Consolidated Statement of Financial Position

• B.03, the Consolidated Statement of Cash Flows ä B.04, the Consolidated Statement of Changes in Equity ä B.05 and the relevant explanations in the Notes to the Condensed Interim Consolidated Financial Statements.

Profitability

Condensed Consolidated Statement of Income of the Daimler Truck Group in the first quarter of 2024

Revenue of the Daimler Truck Group amounted to €13.3 billion in the first quarter of 2024 and was on prior-year level (Q1 2023: €13.2 billion). The revenue development was positively influenced in particular by improved net pricing, while lower sales had an offsetting effect. Adjusted for exchange rate effects, the Group's revenue increased by 3%. The negative exchange rate effects resulted in particular from the translation of Japanese yen and US dollars.

• A.02

At €10.4 billion (Q1 2023: €10.4 billion), the cost of sales was at the level of the previous year. Significant effects resulted from the lower unit sales and from positive exchange rate effects, while the inflation- related increase in costs in particular offset these. ä A.02

Selling expenses were also at the prior-year level at €716 million (Q1 2023: €681 million). ä A.02

General administrative expenses increased to €660 million

(Q1 2023: €595 million), mainly as a result of higher IT costs. ä A.02

Research and non-capitalized development costs at €395 million (Q1 2023: €405 million) were at the same level as the previous year.

• A.02

Other operating income amounted to €83 million (Q1 2023: €107 million) in the first quarter of 2024. Included in the prior year was income from the equity consideration arising from the sale of on-highway IP rights to medium-duty Daimler Truck engines to DEUTZ AG. ä A.02

The loss on equity-method investments, net, in the first quarter of 2024 of minus €51 million was greater than that of the same quarter in the prior year (Q1 2023: minus €19 million). This development was mainly due to the joint ventures Beijing Foton Daimler Automotive Co., Ltd. (BFDA) and cellcentric GmbH & Co. KG (cellcentric). ä A.02

EBIT amounted to €1,131 million in the first quarter of 2024

(Q1 2023: €1,121 million) and was on prior-year level. The adjusted EBIT of the Daimler Truck Group of €1,210 million (Q1 2023: €1,162 million) was also at the level of the previous year. ä A.02

Daimler Truck | Interim Report Q1 2024

Key Figures

Interim Group Management Report

Interim Consolidated Financial Statements

Further Information

> Profitability

10

In the first quarter of 2024, an expense of €341 million (Q1 2023: expense €376 million) was recognized under income taxes. The effective tax rate was 28.7% (Q1 2023: 32.1%) below the level of the previous year. ä A.02

Net profit of €847 million for the first quarter of 2024 was slightly above the prior-year's quarter (Q1 2023: €795 million). Of the net profit, €47 million (Q1 2023: €58 million) was attributable to non- controlling interests.

The share of net profit attributable to shareholders of Daimler Truck Holding AG amounted to €800 million (Q1 2023: €737 million). Earnings per share amounted to €1.00 (Q1 2023: €0.90).

• A.02

The calculation of earnings per share (basic) is based on an average number of outstanding shares of 804 million.

Table ä A.02 shows the Condensed Consolidated Statement of Income of the Daimler Truck Group as well as of the Industrial Business and Financial Services.

Table ä A.03 shows the composition of EBIT for the Industrial Business.

A.02

Condensed Consolidated Statement of Income
	Daimler Truck Group	Industrial Business	Financial Services
	Q1 2024	Q1 2023	Q1 2024	Q1 2023	Q1 2024	Q1 2023
In millions of euros
Revenue	13,263	13,200	12,481	12,588	781	612
Cost of sales	-10,389	-10,425	-9,749	-9,955	-640	-470
Gross profit	2,874	2,775	2,733	2,633	141	142
Selling expenses	-716	-681	-684	-649	-32	-32
General administrative expenses	-660	-595	-604	-539	-56	-56
Research and non-capitalized development costs	-395	-405	-395	-405	-	-
Other operating income/expense	83	107	85	116	-2	-9
Profit/loss on equity-method investments, net	-51	-19	-51	-19	-	-
Other financial income/expense, net	-3	-61	-2	-60	-1	-1
EBIT	1,131	1,121	1,081	1,077	50	44
Interest income/expense, net	57	50	57	50	-	-1
Profit before income taxes	1,188	1,171	1,138	1,127	50	44
Income taxes	-341	-376	-323	-352	-18	-24
Net profit	847	795	815	775	32	20
thereof attributable to non-controlling interests	47	58
thereof attributable to the shareholders of Daimler Truck Holding AG	800	737
Earnings per share (in euros)
based on profit attributable to the shareholders of Daimler Truck Holding AG
Basic and diluted	1.00	0.90

A.03

EBIT of the Industrial Business
	Industrial Business	Trucks North America		Mercedes-Benz		Trucks Asia		Daimler Buses		Reconciliation
	Q1 2024	Q1 2023	Q1 2024	Q1 2023	Q1 2024	Q1 2023	Q1 2024	Q1 2023	Q1 2024	Q1 2023	Q1 2024	Q1 2023
In millions of euros
Revenue	12,481	12,588	5,808	5,807	4,826	4,990	1,506	1,761	1,176	950	-835	-919
Cost of sales	-9,749	-9,955	-4,692	-4,697	-3,711	-3,921	-1,213	-1,432	-943	-812	811	907
Gross profit	2,733	2,633	1,116	1,110	1,115	1,069	292	329	233	137	-24	-13
Selling expenses	-684	-649	-91	-91	-417	-370	-133	-152	-69	-64	27	29
General administrative expenses	-604	-539	-197	-210	-263	-195	-85	-79	-59	-56	1	-
Research and non-capitalized development costs	-395	-405	-140	-158	-158	-142	-33	-37	-52	-36	-11	-33
Other income/expense	32	37	37	24	105	61	9	20	7	27	-126	-95
EBIT	1,081	1,077	724	675	382	424	49	80	59	9	-133	-112