In the third quarter, Daimler Truck Holding AG (Daimler Truck) delivered steady results on Group level in revenues, earnings, and profitability. While the performance in North America continued to be strong, Mercedes-Benz is facing an ongoing difficult market environment in Europe, with Brazil contributing positively. Markets in Asia remained weak, while the segment Trucks Asia delivered solid results in Q3. Daimler Buses achieved profitability at a record level.
We are on track to deliver another solid year for the Daimler Truck Group in 2024. An important driver in Q3 has been our continued strong performance in North America. The successful turnarounds at Daimler Buses and in Brazil show, that the hard work of the last years is paying off. In the segment Mercedes-Benz Trucks we still have more potential and we are determined to continue to work to improve our performance.
With €13.1 billion the Group’s revenue is slightly below the previous year’s third quarter (Q3 2023: €13.9 billion). Adjusted Group EBIT in the reporting period was €1.19 billion (Q3 2023: €1.34 billion). In the Industrial Business (IB), adjusted EBIT was €1.15 billion (Q3 2023: €1.30 billion). Adjusted return on sales (adj. ROS) in the IB was at 9.3% (Q3 2023: 9.8%). Free cash flow (FCF) of the IB decreased to minus €41 million (Q3 2023: €1,088 million). Earnings per share in Q3 amounted to €0.77 (Q3 2023: €1.13). The Group's global unit sales in Q3 totaled 114,917 units (Q3 2023: 128,861). Sales of battery-electric vehicles grew by 36% to 666 vehicles (Q3 2023: 491).
Our key focus is to further increase the resilience of our business. In North America, our vocational truck strategy is paying off. Despite the weakness in the on-highway market, Trucks North America delivered another strong quarter. For Q4, our full attention will be on Free Cash Flow. We are committed to delivering another year with an attractive cash return for our shareholders.
