3rd Quarter Results 2020

October 23, 2020 - Daimler today reported its results for the third quarter. The key figures reflect a good performance based on improving markets and strong products, combined with diligent cost discipline and extensive cash-preservation measures.

Our strong product portfolio and the positive market recovery drove us to a good performance. We have successfully pushed forward our comprehensive efforts regarding cost control and cash management. With this momentum, we are on track to make our business more weatherproof. However, the transformation of Daimler is a long-distance race. We are keeping up the pace with focus and full discipline.

Harald Wilhelm, Member of the Board of Management of Daimler AG, responsible for Finance & Controlling/Daimler Mobility

Relevant financial figures at a glance


Group Sales

Q3 2019: 839,300 units



Q3 2019: € 43.3 bn



Q3 2019: € 2.7 bn


Net Profit Group

Q3 2019: € 1.8 bn


Free Cash Flow Industrial Bus.

Q3 2019: € 2.8 bn


Net Liquidity Industrial Bus.

End of Q2 2020: € 9.5 bn

Details Free Cash Flow

The high free cash flow of around €5.1 billion in the quarter reflects the continuous efforts in cost-cutting and cash-preservation measures as well as the positive operating performance across all divisions. Additional positive factors are the dividend from the Chinese joint venture BBAC of €1.2 billion, positive contributions from working capital and seasonal phasing impacts.

The adjusted free cash flow of the industrial business was €5,345 million (Q3 2019: €2,931 million).

The page Key-Figures-Group contains numerous other key figures and provides a quick overview of the development of relevant quarterly figures over a period of three years (e.g. Capital Expenditure on Industrial Business, Earnings per Share or Net Liquidity).

Unit sales by the Mercedes-Benz Cars & Vans division decreased by 4% to 673,400 vehicles in the third quarter (Q3 2019: 705,000). Despite that, adjusted EBIT increased to €2,417 million (Q3 2019: €1,868 million) and adjusted return on sales to 9.4% (Q3 2019: 7.0%). Improved pricing and a significant reduction in fixed costs had a positive impact on earnings. Earnings were adversely affected by restructuring expenses (€297 million), including the initiated cost-optimization program (€229 million) and expenses for the adjustment and realignment of capacities (€68 million) within the global production network in connection with the intended sale of the car plant in Hambach (France). Both initiatives will reduce fixed costs in the medium and long term.

The Daimler Trucks & Buses division showed a decrease in unit sales of 26% to 99,300 vehicles in the third quarter (Q3 2019: 134,300). Adjusted EBIT amounted to €603 million (Q3 2019: €838 million) and adjusted return on sales was 6.5% (Q3 2019: 7.3%). Earnings were negatively affected by declining volumes, primarily caused by contracting markets due to the ongoing COVID-19 pandemic. The measures introduced led to cost reductions in all functional areas. In particular, a significant reduction in fixed costs had a positive impact on earnings. The division recorded a significant increase in order intake in most key regions compared to the previous quarter, also compared to third quarter of 2019 in Europe and North America.

At Daimler Mobility, new business increased by 2% to €18.7 billion in the third quarter (Q3 2019: €18.3 billion). Adjusted EBIT amounted to €601 million (Q3 2019: €469 million) and adjusted return on equity was 16.5% (Q3 2019: 13.5%). Positive effects were recorded mainly due to the measures implemented to improve the cost position. Furthermore, as a result of the response to the COVID-19 pandemic in the first half of 2020, no further additions to credit-risk provisions were necessary in the third quarter of 2020.

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