New Risk • May 05
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 24% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (2.7% operating cash flow to total debt). Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (3.0% net profit margin). Reported Earnings • Apr 30
First quarter 2026 earnings released: EPS: €0.45 (vs €0.93 in 1Q 2025) First quarter 2026 results: EPS: €0.45 (down from €0.93 in 1Q 2025). Revenue: €10.2b (down 3.5% from 1Q 2025). Net income: €225.0m (down 52% from 1Q 2025). Profit margin: 2.2% (down from 4.4% in 1Q 2025). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 4.9% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Machinery industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 17% per year, which means it is well ahead of earnings. 공시 • Apr 02
TRATON GROUP and Applied Intuition Announces TRATON ONE OS, a Unified Software Platform for Improved Fleet Uptime Across TRATON's Four Global Brands The TRATON GROUP and Applied Intuition, Inc. announced TRATON ONE OS, a next-generation software-defined vehicle platform that will power all new vehicles across TRATON's four brands: Scania, MAN, International and Volkswagen Truck & Bus. Building on more than a year of co-development, the two companies are deploying a single unified platform that's at the forefront of innovation to deliver benefits to customers: Prevent costly downtime: The system's unified data access is designed to enable predictive maintenance capabilities that allow fleet operators to identify and address potential mechanical issues before they lead to breakdowns, service recalls or unplanned downtime. Future-proof fleets: Customers will be able to receive new applications, features and full-cabin user-interface upgrades via over-the-air software updates, eliminating many workshop visits and allowing vehicles to improve throughout their operational life. Unlock the autonomous future: The platform's adaptive middleware is designed to serve as a foundation for autonomous driving systems, enabling TRATON to layer autonomous capabilities onto the same architecture over time. Designed to bring the speed, flexibility and continuous update cycles of modern software development to the commercial vehicle industry, TRATON ONE OS will operate on all high-performance computers (HPCs) in TRATON's new vehicle architecture. The platform supports multiple hardware chipsets and global regulatory environments while giving TRATON teams a common foundation to build on — all without compromising each brand's distinct customer experience. Testing of the first integrated ECU hardware will begin in April 2026, with rollout across new trucks targeted for 2028. The platform is being co-developed as a white-box modular architecture that combines TRATON's internal development with Applied Intuition's Vehicle OS for trucking, as well as trusted third-party and open-source components. This modular approach allows TRATON to replace or consolidate compute units over time without fragmenting the software stack or rewriting the platform or applications, supporting the company's long-term ambition to move toward fewer, more powerful high-performance computers. New Risk • Mar 05
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 3.5% Last year net profit margin: 5.9% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (3.4% operating cash flow to total debt). Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (3.5% net profit margin). Reported Earnings • Mar 05
Full year 2025 earnings released: EPS: €3.09 (vs €5.61 in FY 2024) Full year 2025 results: EPS: €3.09 (down from €5.61 in FY 2024). Revenue: €44.1b (down 7.2% from FY 2024). Net income: €1.55b (down 45% from FY 2024). Profit margin: 3.5% (down from 5.9% in FY 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Machinery industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has increased by 22% per year, which means it is tracking significantly ahead of earnings growth. 
