With an official ceremony held early this morning, Daimler Truck was launched on Frankfurt Stock Exchange. This is the actual completion of the spin-off that separates the truck and bus business from the car and van one. «Our future is in our own hands now», said Martin Daum, Chairman of the Board of Management of Daimler Truck Holding AG, who thanked the entire Daimler team around the world. «This is the end of a journey and the beginning of a new one. Now we are looking ahead with courage and confidence. Now we are looking forward to use the creative opportunities as an independent company with our great global team, for even more entrepreneurial success in the future. Everyone should benefit from this – our workforce, our customers and, of course, our shareholders».
Daimler Truck on the Frankfurt Stock Exchange: the initial share price
In future, investors will have the opportunity to invest directly in the shares of one of the world’s largest commercial vehicle manufacturers. In preparation for the spin-off, the company has specified its financial ambitions to increase the performance and profitability of the segments. At today’s ceremony, the first indicative price range for the share of Daimler Truck was set between 25 and 35 euros, with the very first price for the newco shares set to 28 euros just after 9am.
Now, as a listed company, Daimler Truck intends to lead the way to zero-emission transportation even more focused and agile in the future. The development of battery and fuel-cell vehicles is to be accelerated – under its own steam and with strategically sensible partnerships. For example, battery and fuel cell vehicles are to account for up to 60 percent of Daimler Truck sales by 2030. From 2039, the company wants to offer only vehicles in the Triad that are CO2-neutral in driving operation. For Daimler Truck, both technologies are compatible and necessary. Purely battery-powered trucks are used in light and heavy distribution transport, for example when it comes to delivering goods in cities. The hydrogen-based fuel cell drive will be indispensable in the long-distance truck transport of the future.
«The beginning of a new era»
«Daimler Truck is also financially in a very good starting position for our entrepreneurial independence. Our balance sheet is rock solid and we have already proven in the past how reliably we can generate an attractive cash flow. We are now putting all our energy into fully exploiting our earnings potential and driving forward the transformation to emission-free transport in a focused manner. We want to create sustainable value for our investors as well», stated Jochen Goetz, CFO of Daimler Truck Holding AG.
Ola Källenius, Chairman of the Board of Management of Daimler AG and Mercedes-Benz AG, added: «Today marks the beginning of a new era for us. We are fully focused on building the world’s most desirable cars and leading the way in electromobility and vehicle software. At the same time, the listing of Daimler Truck turns one success story into two. The historic reorganisation to two ‘pure-play’ companies is intended to unleash the full potential of both companies and create decisive added value for all sides. We wish Daimler Truck a successful future and look forward to the beginning of a new era with confidence».