TRATON : Q1 better than feared but visibility remains low
>Q1 and guidance broadly reassuring but visibility is low - TRATON’s Q1 results were down y-o-y (adjusted EBIT down -22%) despite the integration of Navistar, still heavily impacted by component shortages. Although the wiring harness shortages at MAN have been well documented, we were surprised to see that the sharpest declines were still at Scania, usually the group’s crown jewel. Despite Q1 remaining weak, the outlook was broadly confirmed (EBIT margin forecast adju...Traton SE is a Germany-based manufacturer of commercial vehicles. The Company operates through a number of brands, which includes MAN, a commercial vehicle manufacturer, which specializes in the production of vans, as well as city buses and intercity and travel coaches; Scania, which provides transport solutions, heavy duty vehicles for long-distance and distribution transport, as well as construction vehicles; Volkswagen Caminhoes E Onibus, which is a provider of light-to heavy-duty trucks and bus for markets, such as Latin America and Africa, and Rio, which is a global brand for digital services in the transport industry that offers an open, vendor-neutral and cloud-based platform for freight transport.
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