Daimler AG / Key word(s): Legal Matter
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
Ad hoc announcement:
Daimler increases provision for
EU antitrust proceedings
- Increase of provision by 600 Mio. EUR will affect Daimler's fourth quarter 2014 earnings and be taken into account in the group EBIT as a special reporting item.
- Earnings forecast for ongoing business in the financial year 2014 remains unchanged.
Stuttgart - In connection with the ongoing EU Commission antitrust proceedings concerning European commercial vehicle manufacturers, Daimler AG has decided today to increase the provision by 600 Mio. EUR. The figure is preliminary and unaudited. Daimler made a provision in 2011 for the first time in connection with the antitrust proceedings.
The provision will affect Daimler's reported earnings in the current quarter and be taken into account in the group EBIT as a special reporting item. The earnings forecast for the ongoing business in 2014 remains unchanged: Daimler assumes that EBIT from ongoing business will increase significantly in the year 2014.
The EU Commission delivered its statement of objections to Daimler at the end of November 2014. Since then, Daimler has had the chance to review relevant documents on which the EU Commission bases its accusations in the statement of objections. The amount of the provision increase results from knowledge gained from inspecting these files.
Daimler is cooperating with the authorities but will at the same time - while stating the company's legal view - safeguard its rights in the further proceedings. Daimler is also reviewing all of its procedural options.
Jörg Howe, + 49 711 17-41341, email@example.com Hendrik Sackmann, + 49 711 17-35014, firstname.lastname@example.org Ute Wüest von Vellberg, + 49 711 17-25573,
Additional information of Daimler is available on the internet: www.media.daimler.com and www.daimler.com
This document contains predictive statements based on our current assessment of future developments. Such predictive statements are characterised by words like »anticipate«, »assume«, »believe«, »estimate«, »expect«, »intend«, »can/could«, »plan«, »project«, »should« and similar terms. These statements are subject to a number of risks and uncertainties. Some examples of this are an unfavourable development of the global economic situation, especially a drop in demand in our most important sales markets, intensification of the sovereign debt crisis in the Eurozone, increasing political tensions in Eastern Europe, a worsening of our refinancing possibilities on the credit and finance markets, unavoidable force majeure events such as natural disasters, epidemics, terrorist acts, political disturbances, industrial accidents and their consequences on our sales, purchasing, production and financing activities, currency rate fluctuations, a change in consumer behaviour towards smaller and less profitable vehicles or a possible loss of acceptance of our products and services making it more difficult to achieve prices and utilise production capacities, price increases for fuel and raw materials, interruptions of production due to material shortages, strikes or insolvent suppliers, falling resale prices of used vehicles, the successful implementation of cost reduction and efficiency improvement measures, the business prospects of companies in which we hold significant stakes, the successful implementation of strategic cooperations and joint ventures, the amendments of laws, provisions and official guidelines, in particularly where they concern vehicle emissions, fuel consumption and safety, as well as the completion of ongoing official investigations and the outcome of pending or imminent future legal proceedings and additional risks and imponderabilities, some of which are described in the current annual report under the heading »Risk and opportunity report«. Should one of these uncertainty factors or imponderabilities arise or should the assumptions on which the predictive statements are based turn out to be false, the actual results could deviate considerably from the results referred to or implicitly expressed in these statements. It is neither our intention, nor do we assume an obligation to constantly update predictive statements, since these are exclusively based on the circumstances on the day of the announcement.
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Company: Daimler AG
Phone: +49 (0)711 179 22 61
Fax: +49 (0)711 179 40 75
Indices: DAX, EURO STOXX 50
Listed: Regulierter Markt in Frankfurt (Prime Standard), Stuttgart; Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover, München
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