Traton stock gains as orders and adjusted profit rise in nine months

TRATON stock traded at 32.03 euros on Lang & Schwarz at 10:41 CET on Friday, October 30, 0.09 percent above the Xetra close of Thursday, October 29. The move came as the truck maker's latest nine-month figures highlighted stronger orders and improving adjusted profitability.

In a release dated Wednesday, October 28, TRATON reported that incoming orders rose 25 percent year over year to 253,100 vehicles in the first nine months of 2026. Truck orders increased 28 percent to 206,861 vehicles, while total unit sales grew 3 percent to 230,436 vehicles. The company said demand recovered across key markets as the third quarter progressed.

Group sales revenue increased 3 percent to 33.3 billion euros, compared with 32.3 billion euros a year earlier. Adjusted operating result rose 13 percent to 2.3 billion euros from 2.0 billion euros, while adjusted operating return on sales improved to 6.9 percent from 6.3 percent. The figures were supported by higher earnings from Vehicle Services and TRATON Financial Services, as well as volume, pricing and product-mix effects.

Regional demand drives order recovery

The order trend was strongest in North America, where truck orders jumped 105 percent in the first nine months. In South America, truck orders increased 18 percent, helped mainly by Brazil's subsidized Move Brasil loan program. Order momentum softened in the third quarter after the program's second tranche had been used up.

Europe delivered a more mixed picture. Truck orders in the EU27+3 region rose 7 percent, while Germany recorded a 3 percent decline for the first nine months. German truck orders nevertheless increased 9 percent in the third quarter. In Asia-Pacific, truck orders gained 55 percent, supported by Scania's new China-focused long-haul product line.

TRATON's brands showed different levels of profitability. Scania Vehicles & Services raised adjusted operating return on sales to 11.6 percent from 10.6 percent, while MAN Truck & Bus improved to 6.2 percent from 5.6 percent. International Motors edged up to 1.7 percent from 1.6 percent. Volkswagen Truck & Bus declined to 10.4 percent from 12.4 percent, leaving the group more dependent on the recovery in North America and on service growth.

Management also pointed to the conversion of the order backlog into deliveries. Incoming orders exceeded unit sales, producing a book-to-bill ratio of 1.1 compared with 0.9 a year earlier. Battery-electric vehicle sales increased 30 percent in the first nine months, while incoming orders for electric vehicles rose 50 percent, although CEO Christian Levin said current sales levels remain insufficient to meet European Union carbon-dioxide targets.

Outlook remains unchanged

CFO and CHRO Michael Jackstein said positive business momentum was expected to continue in the fourth quarter, with earlier orders converting into unit sales. He highlighted further potential in North America toward year-end and confirmed the full-year outlook.

TRATON continues to expect 2026 unit-sales and revenue growth between 0 and 7 percent. The group targets an adjusted operating return on sales of 6.3 to 7.3 percent, while TRATON Operations is expected to reach 7.1 to 8.1 percent. The forecast remains subject to geopolitical developments, US tariff policy and the war in Iran. The company's real-time quote of Traton stock provides the latest trading reference for investors.

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Source: TRATON press release.