Daimler Truck to prioritize investing over profits once margin target is reached By Reuters


© Reuters. FILE PHOTO: The Daimler logo is seen ahead of Daimler’s annual meeting of shareholders in Berlin, Germany, April 5, 2018. REUTERS / Hannibal Hanschke / File Photo

FRANKFURT (Reuters) – New truck maker Daimler (OTC 🙂 Truck will prioritize investing in future technologies over increasing profits if it hits the double-digit margin it is targeting, has CEO Martin Daum said during a roundtable on Friday.

“The fact that we still exist is due to two things: because the company has always made money, and there were difficult times in between, and second, because we have always invested in the future, ”Daum said, speaking to reporters hours after the company was listed on the Frankfurt Stock Exchange.

CFO Jochen Goetz added that while he hoped the worst of the chip supply chain crisis passed in the third quarter of this year, the uncertainty over the issue would continue to have “serious consequences. “for Daimler Truck until 2022.

Daum told German newspaper Automobilwoche last month the company would sell a “five-digit average number” of fewer vehicles than it could have due to the lack of chips, resulting in a loss of billions in revenue. euros.

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