Mitsubishi Fuso Truck and Bus Corporation’s (Headquarters: Kawasaki City, Kanagawa Prefecture, President and CEO: Karl Deppen, hereafter “MFTBC”) majority shareholder Daimler Truck has reported solid financial results for 2024, despite weak demand in Europe. The Fuso brand maintained its stronghold in Indonesia and sales of battery electric vehicles, including the eCanter, increased significantly compared to the previous year.
Group revenue slightly decreased by 3% to €54.1 billion (2023: €55.9 billion), and adjusted EBIT decreased by 15% to €4,667 million (2023: €5,489 million). However, the free cash flow of the “Industrial Business” (which covers trucks, buses, engines and specific investments and services) increased to €3,152 million (2023: €2,811 million).
In the Trucks Asia segment, which includes the Fuso brand, unit sales decreased by 22% to125,234 (2023: 161,171), and there was a 13% decline in revenue to €6,111 million (2023: €7,060 million). The Trucks Asia performance was also negatively impacted by the impairment of Daimler Truck’s joint venture in China, BFDA (Beijing Foton Daimler Automotive).
With a 38.1% market share, Fuso held its leading positing in Indonesia for the 54th consecutive year. The all all-electric eCanter was also launched in Indonesia in 2024.
Daimler Truck sold 460,409 commercial vehicles worldwide in 2024,12% less compared to the same period of the previous year (526,053 units). Sales of all battery-electric vehicles stood at 4,035 units, an increase of 17%. 2024 achievements include a record 89-unit Mitsubishi Fuso eCanter fleet deal with the Greek cities of Athens and Thessaloniki and a 22-unit deal with Planway Logística in Spain. In Greece, the eCanters fitted with bodies from local manufacturer Kaoussis are deployed for garbage collection, and the bright yellow eCanters in Spain for the postal service Correos.
In Japan, sales were supported by the new Super Great heavy duty diesel truck model with superior performance and fuel efficiency.
Key Figures – Group
| FY 2024 | FY 2023 | +/– | |
| Unit Sales | 460,409 | 526,053 | -12% |
| Revenue* | 54,077 | 55,890 | -3% |
| EBIT (adjusted)* | 4,667 | 5,489 | -15% |
| ROS (adjusted, IB)** | 8.9 | 9.9 | |
| Free Cash Flow (IB)* | 3,152 | 2,811 | 12% |
| Incoming Orders | 417,131 | 426,910 | -2% |
| Earnings per share (EPS) in € | 3.64 | 4.62 | -21% |
Key Figures – Trucks Asia
| Unit Sales | 125,234 | 161,171 | -22% |
| Revenue* | 6,111 | 7,060 | -13% |
| EBIT (adjusted)* | 106 | 330 | -68% |
| ROS (adjusted)** | 1.7 | 4.7 | |
| *in millions of € **in percent | |||
SOURCE: Fuso
