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Daimler Truck to prioritise investment over profit once margin target reached -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO: The Daimler emblem is seen earlier than the Daimler annual shareholder assembly in Berlin, Germany, April 5, 2018. REUTERS/Hannibal Hanschke/File Photograph

FRANKFURT (Reuters) – The newly spun-off truckmaker Daimler (OTC:) Truck will prioritise funding in future applied sciences over boosting its income if it achieves the two-digit margin it’s focusing on, CEO Martin Daum mentioned at a roundtable on Friday.

“The truth that we nonetheless exist is because of two issues: as a result of the corporate has at all times made cash, and there have been exhausting occasions in between, and secondly, as a result of we at all times invested sooner or later,” Daum mentioned, chatting with journalists hours after the corporate was listed on Frankfurt Inventory Alternate.

CFO Jochen Goetz added that though he hoped the worst of the chip provide chain disaster had handed within the third quarter of this yr, uncertainty on the difficulty would proceed to have “critical penalties” for Daimler Truck into 2022.

Daum informed German newspaper Automobilwoche final month the corporate would promote a “mid five-digit quantity” fewer automobiles than it may have due to missing chips, leading to a number of billion euros in misplaced revenues.

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