Daimler AG / Quarter Results
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Daimler Group EBIT of 1.2 billion EUR in the first quarter above market expectations
* Mercedes-Benz Cars EBIT: 806 Mio. EUR
* Daimler Trucks EBIT: 130 Mio. EUR
Stuttgart - Daimler AG (stock-exchange abbreviation DAI) today releases its preliminary figures for the first quarter of 2010. Group revenues amount to 21.2 billion EUR, while Group Earnings before Interest and Taxes (EBIT) including special reporting items amount to 1.2 (2009: -1.4) billion EUR.
The EBIT in the first quarter was supported by very solid results at Mercedes-Benz Cars in consequence of strong sales, model mix and pricing as well as a favourable overall cost position during the first quarter.
The divisions' preliminary EBITs are:
Mercedes-Benz Cars 806 million EUR;
Daimler Trucks 130 million EUR;
Mercedes-Benz Vans 64 million EUR;
Daimler Buses 41 million EUR;
Daimler Financial Services 119 million EUR.
Negative special reporting items are included in the division results in Daimler Trucks and Daimler Financial Services. The gain from the sale of the stake in Tata and the negative impact from EADS are at similar levels.
The divisions' revenues are:
Mercedes-Benz Cars 11.6 billion EUR;
Daimler Trucks 4.9 billion EUR;
Mercedes-Benz Vans 1.7 billion EUR;
Daimler Buses 1.0 billion EUR;
Daimler Financial Services 3.1 billion EUR.
EBIT Outlook 2010
Mercedes-Benz Cars expects an EBIT of 2,5 to 3 billion EUR from ongoing business. Daimler Trucks anticipates an EBIT of 500 to 700 million EUR from ongoing business.
These Q1 figures are preliminary and not reviewed by the auditor. Daimler will publish final numbers and the group guidance as well as further details of its quarterly financial statements on April 27, 2010.
Further information on Daimler is available on the internet at: http://media.daimler.com
This document contains forward-looking statements that reflect our current views about future events. The words 'anticipate,' 'assume,' 'believe,' 'estimate,' 'expect,' 'intend,' 'may,' 'plan,' 'project,' 'should' and similar expressions are used to identify forward-looking statements. These statements are subject to many risks and uncertainties, including a lack of further improvement or a renewed deterioration of global economic conditions, in particular a renewed decline of consumer demand and investment activity in Western Europe or the United States, or a downturn in major Asian economies; a continuation or worsening of the tense situation in the credit and financial markets, which could result in a renewed increase in borrowing costs or limit our funding flexibility; changes in currency exchange rates or interest rates; the ability to continue to offer fuel-efficient and environmentally friendly products; a permanent shift in consumer preference towards smaller, lower margin vehicles; the introduction of competing, fuel-efficient products and the possible lack of acceptance of our products or services, which may limit our ability to adequately utilize our production capacities or raise prices; price increases in fuel, raw materials and precious metals; disruption of production due to shortages of materials, labor strikes, or supplier insolvencies; a further decline in resale prices of used vehicles; the effective implementation of cost-reduction and efficiency-optimization programs at all of our segments, including the repositioning of our truck activities in the NAFTA region and in Asia; the business outlook of companies in which we hold an equity interest, most notably EADS; changes in laws, regulations and government policies, particularly those relating to vehicle emissions, fuel economy and safety, the resolution of pending governmental investigations and the outcome of pending or threatened future legal proceedings; and other risks and uncertainties, some of which we describe under the heading 'Risk Report' in Daimler's most recent Annual Report and under the headings 'Risk Factors' and 'Legal Proceedings' in Daimler's most recent Annual Report on Form 20-F filed with the Securities and Exchange Commission. If any of these risks and uncertainties materialize, or if the assumptions underlying any of our forward-looking statements prove incorrect, then our actual results may be materially different from those we express or imply by such statements. We do not intend or assume any obligation to update these forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made.
Daimler AG is one of the world's most successful automotive companies. With its divisions Mercedes-Benz Cars, Daimler Trucks, Mercedes-Benz Vans, Daimler Buses and Daimler Financial Services, the Daimler Group is one of the biggest producers of premium cars and the world's biggest manufacturer of commercial vehicles with a global reach. Daimler Financial Services provides its customers with a full range of automotive financial services including financing, leasing, insurance and fleet management. The company's founders, Gottlieb Daimler and Carl Benz, made history with the invention of the automobile in the year 1886. As an automotive pioneer, Daimler continues to shape the future of mobility. The Group applies innovative and green technologies to produce safe and superior vehicles which fascinate and delight its customers. With the development of alternative drive systems, Daimler is the only vehicle producer investing in hybrid drive, electric motors and fuel-cell systems, with the goal of achieving emission-free mobility in the long term. This is just one example of how Daimler willingly accepts the challenge of meeting its responsibility towards society and the environment. Daimler sells its vehicles and services in nearly all the countries of the world and has production facilities on five continents. Its current brand portfolio includes, in addition to the world's most valuable automotive brand, Mercedes-Benz, the brands smart, Maybach, Freightliner, Western Star, Fuso, Setra, Orion and Thomas Built Buses. The company is listed on the stock exchanges of Frankfurt, New York and Stuttgart (stock exchange symbol DAI). In 2009, the Group sold 1.6 million vehicles and employed a workforce of more than 256,000 people; revenue totaled EUR78.9 billion and EBIT amounted minus EUR1.5 billion.
19.04.2010 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Media archive at www.dgap-medientreff.de and www.dgap.de
Company: Daimler AG
Phone: +49 (0)711 179 22 61
Fax: +49 (0)711 179 41 09
Indices: DAX, EURO STOXX 50
Listed: Regulierter Markt in Frankfurt (Prime Standard), Stuttgart; Freiverkehr in Berlin, München, Hannover, Düsseldorf, Hamburg; Foreign Exchange(s) NYSE
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