Kvartalsrapport Q3 2024

Automatiskt nyckeltalsindex

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===== SIDA 1 =====

9M 2024
Interim Statement 
as of September 30, 2024

===== SIDA 2 =====

AT A 
GLANCE
 
Trucks and buses (units) 9M 2024 9M 2023 Change
Incoming orders 189,769 189,611 0%
Unit sales 245,384 249,475 –2%
of which trucks 205,233 207,078 –1%
of which buses 20,843 22,502 –7%
of which MAN TGE vans 19,308 19,895 –3%
TRATON GROUP    
Sales revenue (€ million) 35,253 34,176 3%
Operating result (adjusted) (€ million) 3,261 2,929 332
Operating return on sales (adjusted) (in %) 9.3 8.6 0.7 pp
Earnings per share (€) 4.12 3.88 0.24
Active workforce 1 105,933 103,621 2,312
TRATON Operations    
Sales revenue (€ million) 34,266 33,352 3%
Operating result (adjusted) (€ million) 3,570 3,113 457
Operating return on sales (adjusted) (in %) 10.4 9.3 1.1 pp
Primary R&D costs (€ million) 1,748 1,552 13%
Capex (€ million) 1,042 854 22%
Net cash flow (€ million) 1,344 2,403 –1,059
TRATON Financial Services    
Sales revenue (€ million) 1,409 1,158 22%
Operating result (adjusted) (€ million) 158 221 –63
Operating return on sales (adjusted) (in %) 11.2 19.1 –7.9 pp
Return on equity (in %) 10.9 7.9 3.1 pp
1 As of September 30, 2024, and December 31, 2023
Incoming orders on 
 prior-year level with 
0%
change
Adjusted operating  
result €332 million  
higher at around 
€3.3
billion
Sales revenue rose  
by 3% to around
€35.3 
billion
Increase in  
adjusted  
operating return 
on sales to
9.3%
Unit sales 
2%
lower at  
245,384 vehicles

===== SIDA 3 =====

Course of Business
4
Material Events
5
Incoming Orders and Unit Sales by Country,  
TRATON Operations
7
Condensed Income Statement  
of the TRATON GROUP
9
Segments of the TRATON GROUP
11
Net Cash Flow 
12
Capital Expenditures, TRATON Operations
12
Primary Research and Development Costs,  
TRATON Operations
13
Net Liquidity/Net Financial Debt
14
Report on Expected Developments
Selected Financial Information
15
Income Statement
16
Condensed Statement of Comprehensive Income
17
Balance Sheet
19
Statement of Cash Flows
21
Contingent Liabilities and Commitments
21
Segment Reporting
23
Financial Calendar
CONTENTS
TRATON SE is a European stock corporation (Societas Europaea) incorporated under German law and admitted to trading on the Frankfurt Stock Exchange as its primary and the Nasdaq Stockholm as its 
secondary stock exchange. This Interim Statement was prepared in accordance with section 53 of the Exchange Rules for the Frankfurter Wertpapierbörse (FWB). Any deviations from the Guidance Note for 
Preparing Interim Management Statements issued by the Nasdaq Stockholm are described and explained on our website at www.traton.com. This Interim Statement does not constitute an interim financial  
report as defined in International Accounting Standard (IAS) 34 Interim Financial Reporting and has not been reviewed by an auditor.
This Interim Statement contains certain forward-looking statements for the remaining months of fiscal year 2024. A range of known and unknown risks, uncertainties, and other factors may result in the actual  
results, financial position, development, or performance of the TRATON GROUP differing materially from the estimates given here. Such factors include those that TRATON has described in published reports. 
These reports are available on our website at www.traton.com. The Company does not assume any obligation to update such forward-looking statements or to adapt them to future events or developments. 
The figures relating to net assets, financial position, and results of operations were prepared in accordance with International Financial Reporting Standards (IFRSs), as adopted by the European Union. All figures 
shown are rounded, so minor discrepancies may arise from addition of these amounts. Comparable prior-year figures are presented in brackets alongside the figures for the fiscal year under review. The 
current definition of the key performance indicators can be found in the annual report published for the previous year. This report can be downloaded from our website at www.traton.com/publications. 
It’s not individual strength that helps a swarm 
of birds to thrive, but the fact that they work 
 together toward a common goal. This is also true 
when it comes to transforming trans portation 
and further underlined by our TRATON purpose: 
Transforming Transportation Together. For a 
sustainable world.

===== SIDA 4 =====

4
TRATON GR OUP    
9M 2024 INTERIM STATEMENT  
4 Course of Business
4 Material Events
5  Incoming Orders and Unit Sales  
by Country, TRATON Operations
7  Condensed Income Statement  
of the TRATON GROUP
9 Segments of the TRATON GROUP
11 Net Cash Flow
12 Capital Expenditures, TRATON Operations
12  Primary Research and Development Costs,  
TRATON Operations
13 Net Liquidity/Net Financial Debt
14 Report on Expected Developments
15 Selected Financial Information
Material Events
Despite a slight decline in unit sales, the TRATON GROUP generated sales 
revenue of €35.3 billion (9M 2023: €34.2 billion) in the reporting period, up 3% 
year-on-year. Operating result (adjusted) was €3.3 billion (9M 2023: €2.9 billion), 
which increased operating return on sales (adjusted) by 0.7 percentage points, 
from 8.6% to 9.3%.
IAA Transportation, the leading trade fair for logistics and the transportation 
sector, was held in Hannover in September 2024. Two TRATON GROUP brands 
presented a wide range of products during the fair. Scania showcased its 
versatile fleet, including the Scania Super 460 R, which won the German Green 
Truck Award. Among the vehicles presented by MAN were the 12-tonne eTGL 
and the new MAN hTGX with hydrogen-powered engine. The brands also 
presented digital and financial services, along with services covering all aspects 
of charging battery electric vehicles.
Navistar Inc. was renamed International Motors, LLC (International) on 
 October 1, 2024. At the same time, the Navistar brand was renamed International 
and the former Navistar Sales & Services segment was renamed International 
Motors.
TRATON took the next steps on its journey to expand the TRATON Financial  Services 
segment into a global captive financial services entity. TRATON Financial Services 
acquired rights to the future MAN Financial Services business in several coun-
tries and began operations in the reporting period. Following the acquisition 
of the MAN financing business in Austria by the TRATON  Financial Services 
segment, the TRATON GROUP ’s financial services receivables increased by 
approximately €190 million and liabilities by approximately €170 million.
In February, the Executive and Supervisory Boards of TRATON SE decided to 
strengthen Group-wide research and development as well as brand-specific 
development. To do this, significant parts of the research and development 
departments of the individual brands are being merged into a cross-brand 
organization. This new structure will drive forward the development of the 
TRATON Modular System with the aim of delivering sustainable, efficient, and 
connected transportation solutions to the market.
At its meeting in February, the Supervisory Board of TRATON SE extended the 
contracts of TRATON GROUP Executive Board members Alexander Vlaskamp 
and Mathias Carlbaum by five years, in each case until 2029.
On December 31, 2023, Volkswagen Finance Luxemburg S.A., a wholly owned 
subsidiary of Volkswagen AG, held 89.72% of TRATON SE’s share capital. In two 
steps, over the course of the year, Volkswagen Finance Luxemburg S.A. trans-
ferred its 89.72% interest in the share capital of TRATON SE to its wholly owned 
subsidiary, Volkswagen International Luxemburg S.A.
COURSE OF BUSINESS

===== SIDA 5 =====

5
TRATON GR OUP    
9M 2024 INTERIM STATEMENT  
4 Course of Business
4 Material Events
5  Incoming Orders and Unit Sales  
by Country, TRATON Operations
7  Condensed Income Statement  
of the TRATON GROUP
9 Segments of the TRATON GROUP
11 Net Cash Flow
12 Capital Expenditures, TRATON Operations
12  Primary Research and Development Costs,  
TRATON Operations
13 Net Liquidity/Net Financial Debt
14 Report on Expected Developments
15 Selected Financial Information
Incoming Orders and Unit Sales by Country, TRATON Operations
 
Incoming orders Unit sales
Units 9M 2024 9M 2023 Change 9M 2024 9M 2023 Change
Total 189,769 189,611 0% 245,384 249,475 –2%
of which all-electric vehicles 2,374 1,703 39% 1,131 1,190 –5%
BEV unit sales ratio (excluding MAN TGE vans, in %) – – – 0.5 0.4 0.0 pp
Trucks 148,955 149,990 –1% 205,233 207,078 –1%
EU27+3 52,618 64,622 –19% 76,904 87,740 –12%
of which in Germany 14,179 15,032 –6% 19,836 24,253 –18%
North America 35,831 31,688 13% 61,052 59,873 2%
of which in the USA/Canada 28,763 26,704 8% 50,015 51,079 –2%
of which in Mexico 7,068 4,984 42% 11,037 8,794 26%
South America 43,806 34,279 28% 46,669 34,143 37%
of which in Brazil 37,271 28,675 30% 40,142 27,077 48%
Other regions 16,700 19,401 –14% 20,608 25,322 –19%
Buses 24,253 21,095 15% 20,843 22,502 –7%
EU27+3 5,166 4,565 13% 3,708 4,115 –10%
of which in Germany 1,187 1,246 –5% 794 1,016 –22%
North America 10,813 10,036 8% 9,017 11,785 –23%
of which in the USA/Canada 8,727 7,559 15% 6,603 9,231 –28%
of which in Mexico 2,086 2,477 –16% 2,414 2,554 –5%
South America 6,307 4,671 35% 6,133 4,805 28%
of which in Brazil 5,094 3,588 42% 5,137 3,917 31%
Other regions 1,967 1,823 8% 1,985 1,797 10%
MAN TGE vans 16,561 18,526 –11% 19,308 19,895 –3%
EU27+3 16,292 18,282 –11% 18,985 19,349 –2%
of which in Germany 4,750 6,410 –26% 6,097 6,901 –12%

===== SIDA 6 =====

6
TRATON GR OUP    
9M 2024 INTERIM STATEMENT  
4 Course of Business
4 Material Events
5  Incoming Orders and Unit Sales  
by Country, TRATON Operations
7  Condensed Income Statement  
of the TRATON GROUP
9 Segments of the TRATON GROUP
11 Net Cash Flow
12 Capital Expenditures, TRATON Operations
12  Primary Research and Development Costs,  
TRATON Operations
13 Net Liquidity/Net Financial Debt
14 Report on Expected Developments
15 Selected Financial Information
Incoming orders were on the previous period’s level in the reporting period. It 
was therefore down slightly year-on-year in the truck business, although regional 
developments varied greatly. In North America, incoming orders increased 
significantly due to restrictive order acceptance in the comparative period. 
There was a strong increase in incoming orders in South America. In Brazil in 
particular, orders increased sharply in a growing market environment, whereas 
the previous year’s performance in the Brazilian market was significantly neg-
atively impacted by the new emissions regulations that had come into force. A 
noticeable economic slowdown in the EU27+3 region, especially in Germany, 
led to a significant decline in incoming orders for trucks. The MAN TGE also 
recorded a decline in incoming orders. By contrast, incoming orders for buses 
increased significantly. The primary reasons for this were the positive develop-
ment of the coach segment in the EU27+3 region and orders for school buses 
won in South America. 
The TRATON GROUP recorded a 2% year-on-year decline in unit sales in the 
reporting period, although the downward trend in the first half of 2024 was 
cushioned by 5% growth in the third quarter of 2024. Unit sales of trucks declined 
by 1%. This is due among other factors to the continued reluctance to buy in 
the EU27+3 region and a model year change at MAN Truck & Bus. Unit sales in 
North America were slightly above the prior-year level. Owing to a fire at the 
plant of a mirror supplier, a number of trucks were not completed and delivered 
as planned in the second quarter of 2024. The resulting delivery backlog was 
eliminated in the third quarter. By contrast, very strong unit sales growth was 
posted in South America, due primarily to the positive economic development 
in Brazil. Unit sales of buses recorded a moderate decline compared with the 
previous year. This was due, on the one hand, to the delayed ramp-up of the 
new school bus model at International in North America in the first half of the 
year. On the other hand, tighter regulatory requirements for vehicle software 
systems in the EU27+3 region led to delays in unit sales of buses. By contrast, 
unit sales of buses increased in South America.
The book-to-bill ratio in the reporting period was 0.8 (9M 2023: 0.8).
306 (9M 2023: 237) all-electric trucks, 730 (9M 2023: 709) all-electric buses, and 
95 (9M 2023: 244) MAN eTGE models were sold in the reporting period. Addition-
ally, 51 (9M 2023: 91) hybrid trucks and 211 (9M 2023: 204) hybrid buses were sold.

===== SIDA 7 =====

7
TRATON GR OUP    
9M 2024 INTERIM STATEMENT  
4 Course of Business
4 Material Events
5  Incoming Orders and Unit Sales  
by Country, TRATON Operations
7  Condensed Income Statement  
of the TRATON GROUP
9 Segments of the TRATON GROUP
11 Net Cash Flow
12 Capital Expenditures, TRATON Operations
12  Primary Research and Development Costs,  
TRATON Operations
13 Net Liquidity/Net Financial Debt
14 Report on Expected Developments
15 Selected Financial Information
Condensed Income Statement of the TRATON GROUP
 
TRATON GROUP TRATON Operations TRATON Financial Services Corporate Items
€ million 9M 2024 9M 2023 9M 2024 9M 2023 9M 2024 9M 2023 9M 2024 9M 2023
Sales revenue 35,253 34,176 34,266 33,352 1,409 1,158 –423 –334
Cost of sales –27,662 –27,390 –26,962 –26,862 –963 –767 263 239
Gross profit 7,591 6,785 7,304 6,490 447 391 –160 –96
Distribution expenses –2,802 –2,646 –2,447 –2,332 –170 –125 –184 –189
Administrative expenses –1,299 –1,128 –1,130 –1,000 –35 –30 –134 –99
Other operating result –388 –316 –315 –178 –84 –116 11 –21
Operating result 3,103 2,695 3,412 2,981 158 119 –467 –405
Operating result (adjusted) 3,261 2,929 3,570 3,113 158 221 –467 –405
Operating return on sales (adjusted) (in %) 9.3 8.6 10.4 9.3 11.2 19.1 – –
Financial result –427 –239 –589 855 –1 0 164 –1,094
Earnings before tax 2,676 2,456 2,823 3,836 156 119 –303 –1,499
Income taxes –615 –516 –712 –837 –44 –73 140 394
Earnings after tax 2,060 1,940 2,111 3,000 112 46 –163 –1,105
Operating result
The TRATON GROUP increased its sales revenue by €1.1 billion (3%) in the report-
ing period. This growth is attributable in particular to a positive market and 
product mix and to better unit price realization in the TRATON Operations busi-
ness area. Sales revenue in the TRATON Financial Services segment increased 
by €252 million (22%) compared with the prior-year period. This was primarily 
due to a rise in portfolio volume.
The TRATON GROUP’s gross profit improved by €806 million (12%) in the first 
nine months of 2024 compared with the prior-year period. This increase is 
attributable primarily to continued good price management combined with 
an improved cost structure in the TRATON Operations business area. Higher 
research and development costs had a negative impact on gross profit. Gross 
margin increased by 1.7 percentage points to 21.5% (9M 2023: 19.9%) in the 
TRATON GROUP and by 1.9 percentage points to 21.3% (9M 2023: 19.5%) in the 
TRATON Operations business area. 
In the reporting period, the TRATON GROUP’s distribution expenses were up 
€155 million (6%) and administrative expenses were up €171 million (15%) year-
on-year. In both cases, the increase was primarily due to inflation-related cost 
increases, for example in personnel costs. The ratio of distribution and admin-
istrative expenses to sales revenue therefore rose by 0.6 percentage points to 
11.6% (9M 2023: 11.0%).

===== SIDA 8 =====

8
TRATON GR OUP    
9M 2024 INTERIM STATEMENT  
4 Course of Business
4 Material Events
5  Incoming Orders and Unit Sales  
by Country, TRATON Operations
7  Condensed Income Statement  
of the TRATON GROUP
9 Segments of the TRATON GROUP
11 Net Cash Flow
12 Capital Expenditures, TRATON Operations
12  Primary Research and Development Costs,  
TRATON Operations
13 Net Liquidity/Net Financial Debt
14 Report on Expected Developments
15 Selected Financial Information
Other operating result declined by €72 million (–23%) compared with the prior-
year period. At TRATON Operations, in particular, expenses attributable to 
civil lawsuits against Scania and MAN in connection with the EU truck cases 
in individual countries had a negative impact. The TRATON Financial Services 
segment was also impacted by higher expenses from bad debt allowances on 
receivables year-on-year. This was offset in particular by the charges amounting 
to €102 million in connection with the sale of Scania Finance Russia in the 
prior-year period. 
Due to the effects described above, the TRATON GROUP ’s operating result 
increased by €407 million (15%) compared with the prior-year period.
Adjustments to operating result
 
Adjustments (€ million) 9M 2024 9M 2023
Scania Vehicles & Services 102 94
of which legal proceedings and related measures 95 20
of which restructuring measures 7 73
MAN Truck & Bus 57 39
of which legal proceedings and related measures 57 39
TRATON Operations 159 132
TRATON Financial Services – 102
TRATON GROUP 159 234
Adjustments at TRATON  Operations in the reporting period amounted to 
€159 million (9M 2023: €132 million). They include expenses of €151 million 
(9M 2023: €59 million) in connection with civil lawsuits against Scania and MAN 
as a result of the EU truck cases in individual countries. These were recognized 
in the course of the updated reassessment of risks. The adjustments also contain 
€7 million (9M 2023: €73 million) in connection with the realignment of the 
Scania bus business. In the TRATON Financial Services segment, adjustments 
in the previous year in connection with the sale of Scania Finance Russia had 
amounted to €102 million. The TRATON GROUP’s operating result (adjusted) 
therefore rose by €332 million (11%) year-on-year.
The TRATON GROUP increased its operating return on sales (adjusted) by 
0.7 percentage points to 9.3% (9M 2023: 8.6%). In the TRATON Operations 
 business area, operating return on sales (adjusted) increased by 1.1 percentage 
points to 10.4% (9M 2023: 9.3%). 
Financial result
The TRATON GROUP’s financial result declined by €188 million (–79%) in the 
first nine months of 2024 compared with the previous year. Currency translation 
effects on net financial debt were the main driver of the decline, due above all 
to the devaluation of the Brazilian real versus the euro. By contrast, the higher 
earnings of the equity-method investment in Sinotruk (Hong Kong) Limited, 
Hong Kong, China (Sinotruk) had a positive effect. 
Taxes
Income taxes rose by €100 million in the current reporting period. This 
 corresponds to a tax rate of 23% (9M 2023: 21%). The slightly higher tax rate 
year-on-year is primarily due to the discontinuation of offsetting effects from 
the recognition of loss carryforwards from previous years.

===== SIDA 9 =====

9
TRATON GR OUP    
9M 2024 INTERIM STATEMENT  
4 Course of Business
4 Material Events
5  Incoming Orders and Unit Sales  
by Country, TRATON Operations
7  Condensed Income Statement  
of the TRATON GROUP
9 Segments of the TRATON GROUP
11 Net Cash Flow
12 Capital Expenditures, TRATON Operations
12  Primary Research and Development Costs,  
TRATON Operations
13 Net Liquidity/Net Financial Debt
14 Report on Expected Developments
15 Selected Financial Information
Segments of the TRATON GROUP
Scania Vehicles & Services
 
 9M 2024 9M 2023 Change
Incoming orders (units) 56,413 61,781 –9%
Sales (units) 74,055 67,743 9%
of which trucks 70,034 64,283 9%
of which buses 4,021 3,460 16%
Book-to-bill ratio 0.76 0.91 –0.15
Sales revenue (€ million) 13,911 12,646 10%
New Vehicles 9,458 8,105 17%
Vehicle Services business1 2,871 2,761 4%
Others 1,583 1,780 –11%
Operating result (adjusted) (€ million) 1,998 1,622 376
Operating return on sales (adjusted) (in %) 14.4 12.8 1.5 pp
1 Including genuine parts and workshop services
Scania Vehicles & Services recorded a significant decline in incoming orders for 
trucks compared with the comparative period. This was due in part to the continued 
reluctance to buy in the EU27+3 region. In South America, order acceptance was 
highly restrictive in the third quarter of 2024 so as to meet quality requirements 
when rolling out a new software generation. By contrast, incoming orders for buses 
increased substantially. Unit sales rose noticeably, driven by the solid order backlog, 
stable supply chains, and the increase in production volume. 
Sales revenue also grew noticeably year-on-year. This growth was mainly attribut-
able to the very strong increase in the New Vehicles business in South America. 
Scania Vehicles & Services reported a moderate year-on-year increase in sales 
revenue in the EU27+3 region. In addition to the volume-related increase in sales 
revenue, operating result (adjusted) was lifted by a positive price and product mix 
and by lower product costs. Improved margins also had a positive impact on the 
result in the Vehicle Services business. By contrast, increased personnel costs 
negatively affected operating result (adjusted).
MAN Truck & Bus
 
 9M 2024 9M 2023 Change
Incoming orders (units) 54,858 65,838 –17%
Sales (units) 69,215 84,244 –18%
of which trucks 46,275 60,718 –24%
of which buses 3,632 3,631 0%
of which MAN TGE vans 19,308 19,895 –3%
Book-to-bill ratio 0.79 0.78 0.01
Sales revenue (€ million) 10,133 10,643 –5%
New Vehicles 6,177 6,697 –8%
Vehicle Services business1 2,178 2,103 4%
Others 1,778 1,842 –3%
Operating result (adjusted) (€ million) 751 757 –5
Operating return on sales (adjusted) (in %) 7.4 7.1 0.3 pp
1 Including genuine parts and workshop services
MAN Truck & Bus recorded a substantial decline in incoming orders in the report-
ing period compared with the previous year. This was due in particular to weaker 
demand for trucks in the EU27+3 region. The substantial year-on-year decline in 
unit sales is mainly attributable to the weak truck market environment in Germany, 
a truck model year change in the first half of 2024, and catch-up effects in the 
comparative period. Tighter regulatory requirements for vehicle software systems 
in the EU27+3 region led to delays in unit sales of buses, particularly in the third 
quarter of 2024.
Despite the substantial decline in unit sales, sales revenue only fell moderately 
due to an improved price and product mix, with the result that operating result 
(adjusted) was almost on a level with the previous year. In addition, MAN benefited 
from an improved cost structure due to the realignment program completed at 
the end of 2023, despite lower production capacity utilization.

===== SIDA 10 =====

10
TRATON GR OUP    
9M 2024 INTERIM STATEMENT  
4 Course of Business
4 Material Events
5  Incoming Orders and Unit Sales  
by Country, TRATON Operations
7  Condensed Income Statement  
of the TRATON GROUP
9 Segments of the TRATON GROUP
11 Net Cash Flow
12 Capital Expenditures, TRATON Operations
12  Primary Research and Development Costs,  
TRATON Operations
13 Net Liquidity/Net Financial Debt
14 Report on Expected Developments
15 Selected Financial Information
International Motors (formerly: Navistar Sales & Services)
 
 9M 2024 9M 2023 Change
Incoming orders (units) 42,774 37,539 14%
Sales (units) 66,772 68,176 –2%
of which trucks 59,098 57,714 2%
of which buses 7,674 10,462 –27%
Book-to-bill ratio 0.64 0.55 0.09
Sales revenue (€ million) 8,256 8,357 –1%
New Vehicles 6,084 5,946 2%
Vehicle Services business1 1,388 1,562 –11%
Others 784 849 –8%
Operating result (adjusted) (€ million) 564 546 18
Operating return on sales (adjusted) (in %) 6.8 6.5 0.3 pp
1 Including genuine parts 
International Motors recorded a significant increase in incoming orders in the 
reporting period compared with the previous year, when incoming orders had 
been marked by restrictive order acceptance due to limited production capac-
ities resulting from supply bottlenecks. Unit sales were down slightly year-on-
year. This was primarily the result of the delayed ramp-up of sales of the new 
school bus model in the first half of 2024. Temporary delays in the final assembly 
of trucks due to missing parts caused by a fire at a mirror supplier’s production 
plant in the second quarter of 2024 were eliminated in the third quarter of 2024.
Sales revenue was down slightly year-on-year, mainly due to a decline in 
the Vehicle Services business, which was negatively impacted by reduced 
transportation activity in the USA, and this in turn weighed on operating result 
(adjusted). By contrast, improved unit price realization had a positive impact on 
operating result (adjusted) and operating return on sales (adjusted).
Volkswagen Truck & Bus 
 
 9M 2024 9M 2023 Change
Incoming orders (units) 35,745 24,891 44%
Sales (units) 35,742 29,752 20%
of which trucks 30,214 24,711 22%
of which buses 5,528 5,041 10%
Book-to-bill ratio 1.00 0.84 0.16
Sales revenue (€ million) 2,328 1,943 20%
New Vehicles 2,159 1,784 21%
Vehicle Services business1 134 120 12%
Others 34 38 –9%
Operating result (adjusted) (€ million) 278 186 92
Operating return on sales (adjusted) (in %) 12.0 9.6 2.4 pp
1 Including genuine parts and workshop services
Volkswagen Truck & Bus (VWTB) recorded a strong increase in unit sales in the 
reporting period. This was primarily attributable to lower truck and bus unit 
sales in the previous year due to the introduction of a new emissions standard, 
as well as an improved economic situation in the reporting period. In addition 
to the volume-related increase in sales revenue, improved product positioning 
and unit price realization in Brazil positively impacted operating result (adjusted) 
and operating return on sales (adjusted).

===== SIDA 11 =====

11
TRATON GR OUP    
9M 2024 INTERIM STATEMENT  
4 Course of Business
4 Material Events
5  Incoming Orders and Unit Sales  
by Country, TRATON Operations
7  Condensed Income Statement  
of the TRATON GROUP
9 Segments of the TRATON GROUP
11 Net Cash Flow
12 Capital Expenditures, TRATON Operations
12  Primary Research and Development Costs,  
TRATON Operations
13 Net Liquidity/Net Financial Debt
14 Report on Expected Developments
15 Selected Financial Information
TRATON Financial Services 
 
 9M 2024 9M 2023 Change
Sales revenue (€ million) 1,409 1,158 22%
Operating result (adjusted) (€ million) 158 221 –63
Operating return on sales (adjusted) (in %) 11.2 19.1 –7.9 pp
Earnings before tax (€ million) 156 119 37
Equity (€ million)1 1,926 1,870 57
Return on equity (in %) 10.9 7.9 3.1 pp
1 As of September 30
In the first nine months of 2024, TRATON Financial Services launched the activ-
ities of MAN Financial Services in several new markets. In addition, the captive 
financial services business of International Financial (formerly Navistar Financial 
Services) was further expanded. As expected, operating result (adjusted) was 
down year-on-year. The higher costs in connection with the expansion of the 
financial services business as well as increased refinancing and risk costs, could 
not be offset by a higher portfolio volume. 
Earnings before tax very strongly exceeded the level of the previous year. Earn-
ings before tax in the comparative period had been impacted by negative 
accumulated other comprehensive income of €102 million from currency trans-
lation effects attributable to Scania Finance Russia, which were reclassified to 
the income statement upon disposal. This resulted in an increase in the return 
on equity. 
As part of the acquisition of key aspects of the global financial services business 
of Volkswagen Financial Services for MAN and VWTB, TRATON Financial Services 
acquired the rights to the future MAN financial services businesses in Spain, 
Poland, Germany, and South Korea in the first nine months of 2024. Additionally, 
in Austria, 100% of the shares of MAN Financial Services GesmbH, Eugendorf, 
Austria were acquired. The consideration paid amounted to €183 million. The 
difference between the consideration paid and the carrying amounts of the net 
assets as of the acquisition dates, amounting to €168 million, was deducted from 
equity. On September 25, €188 million was contributed to TRATON Financial 
Services AB as an internal Group transaction.
Net Cash Flow
CONDENSED STATEMENT OF CASH FLOWS OF THE TRATON GROUP  
TRATON GROUP TRATON Operations TRATON Financial Services Corporate Items
€ million 9M 2024 9M 2023 9M 2024 9M 2023 9M 2024 9M 2023 9M 2024 9M 2023
Gross cash flow 4,143 4,001 4,273 4,223 381 451 –510 –673
Change in working capital –3,500 –2,379 –1,323 –1,448 –2,612 –1,227 435 295
Net cash provided by/used in operating activities 644 1,621 2,949 2,775 –2,230 –776 –75 –378
Net cash used in investing activities 
attributable to operating activities –1,670 –1,491 –1,605 –372 –49 –683 –16 –437
Net cash flow –1,026 130 1,344 2,403 –2,279 –1,459 –91 –815

===== SIDA 12 =====

12
TRATON GR OUP    
9M 2024 INTERIM STATEMENT  
4 Course of Business
4 Material Events
5  Incoming Orders and Unit Sales  
by Country, TRATON Operations
7  Condensed Income Statement  
of the TRATON GROUP
9 Segments of the TRATON GROUP
11 Net Cash Flow
12 Capital Expenditures, TRATON Operations
12  Primary Research and Development Costs,  
TRATON Operations
13 Net Liquidity/Net Financial Debt
14 Report on Expected Developments
15 Selected Financial Information
The TRATON GROUP ’s net cash used in operating activities declined by 
€978 million year-on-year to €644 million in the first nine months of 2024. 
This resulted primarily from an increase of €1.1 billion in cash tied up in work -
ing  capital, which was mainly due to the higher increase in financial services 
receivables of €1.4 billion. By contrast, there was a €143 million increase in gross 
cash flow, which above all reflects the €407 million increase in operating result, 
together with the €151 million higher tax payments. 
Cash tied up in working capital rose by a total of €3.5 billion in the reporting 
period. This primarily reflected the €2.3 billion increase in financial services 
receivables resulting from the expansion of the business volume and reported 
in net cash flow in the TRATON Financial Services segment. An additional fac-
tor was the €1.1 billion increase in inventories within the TRATON Operations 
business area.
Net cash used in investing activities attributable to operating activities rose 
by €179 million year-on-year to €1.7 billion, which is primarily due to increased 
investments of €328 million in property, plant, and equipment, intangible assets, 
and capitalized development costs. In addition, there had been a positive effect 
of €96 million from the sale of Scania Finance Russia in the previous year. This 
effect was the result of the purchase price payment of €400 million in the 
TRATON Operations business area, less the disposal of the cash of Scania Finance 
Russia of €304 million, which affected the TRATON Financial Services business 
area. In the previous year, the payment of €275 million for the gradual acquisition 
of key aspects of the global MAN and VWTB financial services business in the 
TRATON Financial Services business area had an offsetting effect.
In the previous year, the adjustment of the ownership structure of the financial 
services business had led to a positive effect of €499 million on net cash used 
in investing activities and on net cash flow in the TRATON Operations business 
area. In this context, €547 million in dividends paid had a negative impact on 
the net cash used in financing activities in the TRATON Operations business 
area. These effects were eliminated at the TRATON GROUP level.
Capital Expenditures, TRATON Operations
The increase in capital expenditures from €854 million to €1.0 billion in the third 
quarter of 2024 is largely attributable to Scania Vehicles & Services, namely the 
construction of the production site in China, and to investments in connection 
with the further development of a driver’s cab for heavy vehicles at International 
Motors.
Primary Research and Development Costs, 
TRATON Operations
Primary research and development costs amounted to €1.7 billion in the report-
ing period and were therefore higher than in the prior-year period (9M 2023: 
€1.6 billion). The rise is attributable to increased development activities in 
forward-looking technologies and the development of the TRATON Modular 
System. Development costs of €627 million (9M 2023: €493 million) were capi-
talized, resulting in a capitalization ratio of 35.9% (9M 2023: 31.7%). Research and 
development costs not eligible for capitalization are included in cost of sales.

===== SIDA 13 =====

13
TRATON GR OUP    
9M 2024 INTERIM STATEMENT  
4 Course of Business
4 Material Events
5  Incoming Orders and Unit Sales  
by Country, TRATON Operations
7  Condensed Income Statement  
of the TRATON GROUP
9 Segments of the TRATON GROUP
11 Net Cash Flow
12 Capital Expenditures, TRATON Operations
12  Primary Research and Development Costs,  
TRATON Operations
13 Net Liquidity/Net Financial Debt
14 Report on Expected Developments
15 Selected Financial Information
Net Liquidity/Net Financial Debt
NET LIQUIDITY/NET FINANCIAL DEBT OF THE TRATON GROUP
TRATON GROUP TRATON Operations TRATON Financial Services Corporate Items
€ million 09/30/2024 12/31/2023 09/30/2024 12/31/2023 09/30/2024 12/31/2023 09/30/2024 12/31/2023
Cash and cash equivalents 2,129 1,730 5,268 4,256 318 246 –3,457 –2,772
Marketable securities, investment deposits,  
and loans to affiliated companies 978 427 271 1,653 225 331 482 –1,557
Gross liquidity 3,107 2,157 5,539 5,909 543 576 –2,975 –4,329
Third-party borrowings –24,873 –21,704 –6,653 –6,527 –16,228 –14,347 –1,992 –830
Net liquidity/net financial debt –21,766 –19,547 –1,114 –617 –15,685 –13,770 –4,967 –5,159
Net financial debt increased by €2.2 billion to €21.8 billion during the reporting 
period, driven primarily by net cash flow. For more information, refer to the 
“Net Cash Flow” section.
To finance its activities, the TRATON GROUP issued bonds amounting to 
€5.0 billion (9M 2023: €2.8 billion) in the reporting period, including €4.0 billion 
(9M 2023: €2.3 billion) issued by TRATON Finance Luxembourg S.A., Strassen, 
Luxem bourg (TRATON Finance) allocated to Corporate Items. In return, repay-
ments totaling €1.7 billion (9M 2023: €1.5 billion) were made. Of this amount, 
€1.0 billion (9M 2023: €612 million) was attributable to TRATON Finance within 
Corporate Items and €377 million (9M 2023: €869 million) to Scania Vehicles & 
Services in the TRATON Operations business area. The bond issues and repay-
ments related primarily to the European Medium Term Notes programs.
Additionally, long-term loans of €690 million (9M 2023: €– million) were taken 
out with Volkswagen International Finance N.V., Amsterdam, Netherlands, and 
loan liabilities to Volkswagen Group of America Finance, LLC, Wilmington, USA, 
grew by €465 million (9M 2023: €– million). The acquisition of key aspects of 
MAN’s financial services business included the assumption by the TRATON 
Financial Services segment of a loan from Volkswagen Financial Services AG 
with a volume of €221 million (9M 2023: €– million) as of September 30, 2024. 
Schuldscheindarlehen of €350 million (9M 2023: €– million) were repaid by 
TRATON SE. 
In addition, miscellaneous financial liabilities decreased by €864 million, due 
for the most part to the repayment of external loans as well as of commercial 
paper liabilities, which were primarily allocated to Corporate Items. 
TRATON SE placed €650 million (9M 2023: €250 million) with Volkswagen AG 
on a short-term basis.
Additionally, TRATON SE paid out a dividend of €750 million (previous year: 
€350 million) for fiscal year 2023, more than double the dividend in the pre -
vious year.
The net financial debt/EBITDA (adjusted) ratio for the TRATON Operations 
 business area including Corporate Items was –1.0 (December 31, 2023: –1.0) as 
of September 30, 2024. An increase in net financial debt in the TRATON Oper-
ations business area including Corporate Items to €6.1 billion (December  31, 
2023: €5.8 billion) was offset by the increase in EBITDA (adjusted) in the TRATON 
Operations business area including Corporate Items to €5.9 billion (December 31, 
2023: €5.5 billion).

===== SIDA 14 =====

14
TRATON GR OUP    
9M 2024 INTERIM STATEMENT  
4 Course of Business
4 Material Events
5  Incoming Orders and Unit Sales  
by Country, TRATON Operations
7  Condensed Income Statement  
of the TRATON GROUP
9 Segments of the TRATON GROUP
11 Net Cash Flow
12 Capital Expenditures, TRATON Operations
12  Primary Research and Development Costs,  
TRATON Operations
13 Net Liquidity/Net Financial Debt
14 Report on Expected Developments
15 Selected Financial Information
Report on Expected Developments
Based on the Company’s business performance in the first nine months of 
2024 and given the unchanged expectations on the whole for the development 
of the truck and bus markets relevant for the TRATON GROUP , the Executive 
Board of TRATON SE is confirming the forecast for 2024 published in the 2023 
Annual Report and reiterated in the 2024 Half-Year Financial Report for all 
key performance indicators.
The financial management of the TRATON GROUP was adjusted in the first half 
of the year. Return on investment (ROI) in the TRATON Operations business 
area is no longer used for internal management and is therefore no longer 
considered to be the most important financial key performance indicator. This 
means that no forecast is being made for this indicator for 2024.
 
 Actual 2023
Forecast 2024 
2023 Annual Report
Forecast 2024 
2024 Half-Year Financial Report
Forecast 2024 
9M 2024 Interim Statement
TRATON GROUP     
Sales (units) 338,183 –5–10% –5–10% –5–10%
Sales revenue (€ million) 46,872 –5–10% –5–10% –5–10%
Operating return on sales (adjusted) (in %) 8.6 8.0–9.0 8.0–9.0 8.0–9.0
TRATON Operations     
Sales revenue (€ million) 45,736 –5–10% –5–10% –5–10%
Operating return on sales (adjusted) (in %) 9.3 9.0–10.0 9.0–10.0 9.0–10.0
Net cash flow (€ million) 3,5941 2,300–2,800 2,300–2,800 2,300–2,800
Capex (€ million) 1,516 sharp increase sharp increase sharp increase
Primary R&D costs (€ million) 2,170 moderate increase moderate increase moderate increase
TRATON Financial Services     
Return on equity (in %) 8.4 7.0–10.0 7.0–10.0 7.0–10.0
1 This contained effects from the sale of the Russia activities and the adjustment of the ownership structure of the financial services business amounting to €899 million.

===== SIDA 15 =====

15
TRATON GR OUP    
9M 2024 INTERIM STATEMENT  
4 Course of Business
15 Selected Financial Information
15 Income Statement
16  Condensed Statement  
of Comprehensive Income
17  Balance Sheet
19  Statement of Cash Flows
21  Contingent Liabilities and Commitments
21  Segment Reporting
23  Financial Calendar
SELECTED FINANCIAL INFORMATION
Income Statement
of the TRATON GROUP for the period from January 1 to September 30
 
€ million 9M 2024 9M 2023
Sales revenue 35,253 34,176
Cost of sales –27,662 –27,390
Gross profit 7,591 6,785
Distribution expenses –2,802 –2,646
Administrative expenses –1,299 –1,128
Net impairment losses on financial assets –97 –41
Other operating income 1,140 1,106
Other operating expenses –1,431 –1,380
Operating result 3,103 2,695
Share of earnings of equity-method investments 207 124
Interest income 344 241
Interest expense –728 –607
Other financial result –249 3
Financial result –427 –239
Earnings before tax 2,676 2,456
Income taxes –615 –516
current –790 –692
deferred 175 177
Earnings after tax 2,060 1,940
of which attributable to shareholders of TRATON SE 2,061 1,940
of which attributable to noncontrolling interests –1 0
Earnings per share in € (diluted/basic) 4.12 3.88

===== SIDA 16 =====

16
TRATON GR OUP    
9M 2024 INTERIM STATEMENT  
4 Course of Business
15 Selected Financial Information
15 Income Statement
16  Condensed Statement  
of Comprehensive Income
17  Balance Sheet
19  Statement of Cash Flows
21  Contingent Liabilities and Commitments
21  Segment Reporting
23  Financial Calendar
Condensed Statement of Comprehensive Income
of the TRATON GROUP for the period from January 1 to September 30
 
€ million 9M 2024 9M 2023
Earnings after tax 2,060 1,940
Pension plan remeasurements recognized in other comprehensive income, net of tax 4 129
Fair value measurement of other equity investments, net of tax –39 –7
Share of other comprehensive income of equity-method investments that will not be reclassified subsequently to profit or loss, net of tax 1 3
Items that will not be reclassified subsequently to profit or loss –34 125
Currency translation differences, net of tax –489 19
Cash flow hedges, net of tax –14 –20
Cost of hedging, net of tax –1 7
Share of other comprehensive income of equity-method investments that will be reclassified subsequently to profit or loss, net of tax 0 0
Items that will be reclassified subsequently to profit or loss –504 7
Other comprehensive income, net of tax –538 132
Total comprehensive income 1,522 2,072
of which attributable to shareholders of TRATON SE 1,523 2,072
of which attributable to noncontrolling interests –1 0

===== SIDA 17 =====

17
TRATON GR OUP    
9M 2024 INTERIM STATEMENT  
4 Course of Business
15 Selected Financial Information
15 Income Statement
16  Condensed Statement  
of Comprehensive Income
17  Balance Sheet
19  Statement of Cash Flows
21  Contingent Liabilities and Commitments
21  Segment Reporting
23  Financial Calendar
Balance Sheet
Assets of the TRATON GROUP as of September 30, 2024, and December 31, 2023
 
€ million 09/30/2024 12/31/2023
Noncurrent assets   
Goodwill 5,973 6,083
Intangible assets 7,066 7,114
Property, plant, and equipment 9,083 8,964
Assets leased out 5,110 5,658
Equity-method investments 1,526 1,482
Other equity investments 164 235
Noncurrent income tax receivables 133 109
Deferred tax assets 2,583 2,366
Noncurrent financial services receivables 8,671 7,767
Other noncurrent financial assets 605 469
Other noncurrent receivables 278 350
 41,193 40,598
Current assets   
Inventories 8,328 7,447
Trade receivables 3,391 3,894
Current income tax receivables 351 172
Current financial services receivables 6,631 5,554
Other current financial assets 952 918
Other current receivables 1,364 1,334
Marketable securities and investment deposits 768 53
Cash and cash equivalents 2,129 1,730
 23,913 21,101
Total assets 65,106 61,699

===== SIDA 18 =====

18
TRATON GR OUP    
9M 2024 INTERIM STATEMENT  
4 Course of Business
15 Selected Financial Information
15 Income Statement
16  Condensed Statement  
of Comprehensive Income
17  Balance Sheet
19  Statement of Cash Flows
21  Contingent Liabilities and Commitments
21  Segment Reporting
23  Financial Calendar
Balance Sheet 
Equity and liabilities of the TRATON GROUP as of September 30, 2024, and December 31, 2023
 
€ million 09/30/2024 12/31/2023
Equity    
Subscribed capital 500 500
Capital reserves 13,295 13,295
Retained earnings 6,589 5,464
Accumulated other comprehensive income –3,316 –2,777
Equity attributable to shareholders of TRATON SE 17,069 16,482
Noncontrolling interests 5 6
 17,074 16,488
Noncurrent liabilities   
Noncurrent financial liabilities 16,200 14,044
Provisions for pensions and other post-employment benefits 1,847 1,847
Deferred tax liabilities 751 681
Noncurrent income tax provisions 269 264
Other noncurrent provisions 1,602 1,534
Other noncurrent financial liabilities 1,818 2,172
Other noncurrent liabilities 2,259 2,299
 24,756 22,842
Current liabilities   
Current financial liabilities 8,673 7,660
Trade payables 5,511 5,791
Current income tax payables 366 226
Current income tax provisions 56 16
Other current provisions 2,180 1,993
Other current financial liabilities 2,085 2,115
Other current liabilities 4,405 4,567
 23,275 22,369
Total equity and liabilities 65,106 61,699

===== SIDA 19 =====

19
TRATON GR OUP    
9M 2024 INTERIM STATEMENT  
4 Course of Business
15 Selected Financial Information
15 Income Statement
16  Condensed Statement  
of Comprehensive Income
17  Balance Sheet
19  Statement of Cash Flows
21  Contingent Liabilities and Commitments
21  Segment Reporting
23  Financial Calendar
Statement of Cash Flows
of the TRATON GROUP for the period from January 1 to September 30
 
€ million 9M 2024 9M 2023
Cash and cash equivalents as of 01/01 1,730 1,743
Earnings before tax 2,676 2,456
Income taxes paid –784 –633
Depreciation and amortization of, and impairment losses on, intangible assets, property, plant, and equipment, and investment property1 1,057 1,013
Amortization of, and impairment losses on, capitalized development costs1 390 315
Impairment losses on equity investments1 1 1
Depreciation and amortization of products leased out1 726 820
Change in pension obligations –8 16
Earnings on disposal of noncurrent assets and equity investments –3 99
Share of earnings of equity-method investments –105 –97
Other noncash income/expense 194 10
Change in inventories –1,058 –1,235
Change in receivables (excluding financial services) 191 –387
Change in liabilities (excluding financial liabilities) –474 170
Change in provisions 326 356
Change in products leased out –193 –397
Change in financial services receivables –2,291 –887
Net cash provided by operating activities 644 1,621
Investments in intangible assets (excluding capitalized development costs) and in property, plant, and equipment2 –1,050 –857
Additions to capitalized development costs –627 –493
Investments to acquire subsidiaries and other businesses –37 –266
Investments to acquire other investees –28 –54
Proceeds from the disposal of subsidiaries 27 128
Proceeds from the disposal of other investees 10 –
Proceeds from the disposal of intangible assets, property, plant, and equipment, and investment property 35 50
Change in marketable securities and investment deposits –685 –236
Change in loans –19 –19
1 Net of impairment reversals 
2 Of which in the TRATON Operations business area: €–1,042 million (9M 2023: €–854 million)

===== SIDA 20 =====

20
TRATON GR OUP    
9M 2024 INTERIM STATEMENT  
4 Course of Business
15 Selected Financial Information
15 Income Statement
16  Condensed Statement  
of Comprehensive Income
17  Balance Sheet
19  Statement of Cash Flows
21  Contingent Liabilities and Commitments
21  Segment Reporting
23  Financial Calendar
 
€ million 9M 2024 9M 2023
Net cash used in investing activities –2,374 –1,746
Dividend payouts –750 –350
Proceeds from the issuance of bonds 4,996 2,810
Repayment of bonds –1,734 –1,525
Repayment of Schuldscheindarlehen –350 –
Proceeds from loans by Volkswagen companies3 1,420 –
Loan repayments to Volkswagen companies4 –297 –1,720
Change in miscellaneous financial liabilities –864 1,127
Repayment of lease liabilities –197 –199
Net cash provided by financing activities 2,224 142
Effect of exchange rate changes on cash and cash equivalents –94 –39
Change in cash and cash equivalents 399 –21
Cash and cash equivalents as of 09/30 2,129 1,722
3 Volkswagen AG, Volkswagen International Finance, Volkswagen Group of America Finance
4 Volkswagen AG, Volkswagen International Luxemburg

===== SIDA 21 =====

21
TRATON GR OUP    
9M 2024 INTERIM STATEMENT  
4 Course of Business
15 Selected Financial Information
15 Income Statement
16  Condensed Statement  
of Comprehensive Income
17  Balance Sheet
19  Statement of Cash Flows
21  Contingent Liabilities and Commitments
21  Segment Reporting
23  Financial Calendar
Contingent Liabilities and Commitments
of the TRATON GROUP as of September 30, 2024, and December 31, 2023
 
€ million 09/30/2024 12/31/2023
Liabilities under buyback guarantees 2,780 2,926
Contingent liabilities under guarantees 556 777
Other contingent liabilities 1,011 1,133
 4,346 4,835
Segment Reporting
of the TRATON GROUP for the period from January 1 to September 30
2024 REPORTING SEGMENTS
€ million
Scania  
Vehicles &  
Services 
MAN  
Truck & Bus 
International 
Motors 1
Volkswagen 
Truck & Bus
TRATON  
Financial  
Services 
Total 
segments Reconciliation
TRATON 
GROUP
of which  
TRATON  
Operations 
Total sales revenue 13,911 10,133 8,256 2,328 1,409 36,039 –786 35,253 34,266
Intragroup sales revenue –380 –239 –26 –2 –119 –766 766 – –298
External sales revenue 13,531 9,894 8,230 2,326 1,291 35,273 –20 35,253 33,968
Operating result (adjusted) 1,998 751 564 278 158 3,749 –488 3,261 3,570
1 The International Motors segment corresponds to the segment previously reported as Navistar Sales & Services.
2023 REPORTING SEGMENTS
€ million
Scania  
Vehicles &  
Services 
MAN  
Truck & Bus 
International 
Motors 1
Volkswagen 
Truck & Bus
TRATON  
Financial  
Services 
Total 
segments Reconciliation
TRATON 
GROUP
of which  
TRATON  
Operations 
Total sales revenue 12,646 10,643 8,357 1,943 1,158 34,746 –571 34,176 33,352
Intragroup sales revenue –296 –194 12 –5 –97 –581 581 – –235
External sales revenue 12,350 10,449 8,369 1,937 1,061 34,165 11 34,176 33,117
Operating result (adjusted) 1,622 757 546 186 221 3,331 –402 2,929 3,113
1 The International Motors segment corresponds to the segment previously reported as Navistar Sales & Services.

===== SIDA 22 =====

22
TRATON GR OUP    
9M 2024 INTERIM STATEMENT  
4 Course of Business
15 Selected Financial Information
15 Income Statement
16  Condensed Statement  
of Comprehensive Income
17  Balance Sheet
19  Statement of Cash Flows
21  Contingent Liabilities and Commitments
21  Segment Reporting
23  Financial Calendar
RECONCILIATION TO THE TRATON GROUP ’S EARNINGS BEFORE TAX
€ million 9M 2024 9M 2023
Operating result (adjusted), total segments 3,749 3,331
Adjustments in connection with the war in Ukraine – –102
Adjustments related to legal proceedings and related measures –151 –59
Adjustments related to restructurings –7 –73
Operating result of the TRATON Holding –132 –128
Earnings effects from purchase price allocation not allocated to the segments –209 –217
Consolidation –146 –57
Operating result of the TRATON GROUP 3,103 2,695
Financial result –427 –239
Earnings before tax of the TRATON GROUP 2,676 2,456

===== SIDA 23 =====

23
TRATON GR OUP    
9M 2024 INTERIM STATEMENT  
4 Course of Business
15 Selected Financial Information
15 Income Statement
16  Condensed Statement  
of Comprehensive Income
17  Balance Sheet
19  Statement of Cash Flows
21  Contingent Liabilities and Commitments
21  Segment Reporting
23  Financial Calendar
Financial Calendar
March 10, 2025 
2024 Annual Report
The latest information and dates are available on TRATON  SE ’s website at 
www.traton.com/financialcalendar.
Munich, October 24, 2024
TRATON SE
The Executive Board
Publication Details
Published by
TRATON SE
Hanauer Str. 26
80992 Munich
Germany
www.traton.com
Corporate Communications
media-relations@traton.com
Investor Relations
investor.relations@traton.com
T: +49 89 36098 70
Concept and Design
3st kommunikation GmbH, Mainz
Copyright
©2024 TRATON SE and  
3st kommunikation GmbH
This is a translation of the German 
 original. In the event of discrepancies 
between the German language   
version and any translation thereof,  
the German version will prevail.

===== SIDA 24 =====

WWW.TRATON.COM