Daimler achieves third-quarter EBIT of €2.5 billion
Staff Writer |
Daimler systematically continued to set the strategic course for the Group’s future in the third quarter of 2018.
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As expected, the Group’s financial development was strongly influenced by external factors. From July through September, Daimler sold 794,700 cars and commercial vehicles worldwide, which is 4% fewer than in the third quarter of last year (Q3 2017: 824,100), whereby Daimler Trucks and Daimler Buses were both able to increase their unit sales.
Group revenue amounted to €40.2 billion in the reporting period (Q3 2017: €40.7 billion). Adjusted for exchange-rate effects, revenue was at the prior-year level.
The Daimler Group achieved third-quarter EBIT of €2,488 million in 2018, which is significantly below its prior-year earnings of €3,409 million.
Net profit of €1,761 million was significantly below the prior-year figure of €2,237 million. Net profit attributable to the shareholders of Daimler AG amounted to €1,689 million (Q3 2017: €2,146 million); this led to a decrease in earnings per share to €1.58 (Q3 2017: €2.01).
EBIT at the Mercedes-Benz Cars division was significantly lower than in the third quarter of last year, due in particular to a decrease in sales volume and expenses in connection with governmental proceedings and measures for diesel vehicles.
Daimler Trucks achieved significantly higher earnings than in the prior-year period, primarily as a result of increased unit sales in the NAFTA region. Mercedes-Benz Vans did not achieve EBIT of the third quarter of 2017.
Daimler Buses’ earnings in the third quarter of 2018 were slightly lower than in the prior-year period. The increased level of interest rates was the main reason for a decrease in earnings at Daimler Financial Services. Exchange-rate effects had an overall negative impact on the Group’s operating profit. ■
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