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Investing.com -- Traton SE (TG:8TRA), the commercial vehicle manufacturer, reported better-than-expected third-quarter results on Wednesday, with operating profit reaching €668 million, 10% above analyst consensus, despite ongoing market challenges in North America and Brazil.
The company, which owns brands including Scania, MAN, International, and Volkswagen Truck & Bus, posted sales of €10.4 billion for the third quarter, in line with analyst expectations. Scania emerged as the standout performer with an operating profit of €468 million and an 11.1% return on sales, significantly exceeding the 9.4% consensus estimate, though down from 14% in the same period last year.
For the first nine months of 2025, Traton reported a decline in sales revenue of 8% to €32.3 billion compared to €35.3 billion in the same period of 2024. The adjusted operating result fell to €2.0 billion from €3.3 billion a year earlier, with adjusted operating return on sales dropping to 6.3% from 9.3%.
"The market environment in which we operate as the TRATON GROUP remains challenging, particularly in North America and Brazil. In Europe, too, a robust turn-around in demand is still not in sight," said Christian Levin, CEO of Traton Group.
Despite the challenging environment, the company saw incoming orders rise by 7% to 202,100 vehicles in the first nine months of 2025, driven primarily by strong replacement demand from truck customers in Europe. However, unit sales declined by 9% to 224,500 vehicles.
Traton confirmed its full-year 2025 guidance but noted that adjusted operating return on sales is expected to come in at the lower end of the 6% to 7% range. Net cash flow is also anticipated at the lower end of the €1.0 billion to €1.5 billion range.
"In these economically challenging times, we are increasingly focusing on cost discipline. We are staying on track with our investments regardless," said Dr. Michael Jackstein, CFO and CHRO of Traton Group.
The company’s net industrial cash position stood at -€6,595 million for the third quarter, compared to -€6,496 million for the same period in 2024.