Corona cuts DAF’s profits almost in half

DAF profit is cut into half due to corona
Photo Credit: DAF, Studio040

DAF has filed its annual report with the Chamber of Commerce shows.  The report shows that the Eindhoven truck manufacturer did not do well in the past corona year. Turnover fell by a quarter and profits were down by almost half.

Eindhovens Dagblad reports this. DAF had to briefly stop the production of trucks after the virus outbreak in March last year. Although sales recovered during the year, sales fell from 5.7 billion in record year 2019 to €4.4 billion  in 2020. DAF was left with a net profit of €184 million, compared to €347 million in 2019.

Demand for new trucks in Europe, meanwhile, has picked up solidly. As of this month, DAF was building 208 cars per day.

Source: www.studio040.nl

Translation: Chaitali Sengupta who also gives online INBURGERING class.

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