Daimler makes a very good start to the year

Apr 26, 2017   OEM

Unit sales significantly above prior-year level at 754,300 vehicles (+10%).

Daimler continued along its successful path in the first three months of 2017 and systematically implemented its strategy for a sustainable positive development. With sales of 754,300 passenger cars and commercial vehicles, the Daimler Group once again achieved best-ever unit sales (2016: 683,900) in a first quarter. This was primarily driven by record sales by Mercedes-Benz Cars with 568,100 units (+14%) and Mercedes-Benz Vans with 86,800 units (+13%). Group revenue amounted to €38.8 billion, which is 11% higher than in the first quarter of last year. Adjusted for exchange-rate effects, revenue increased by 7%.

The Daimler Group achieved first-quarter EBIT of €4,008 million in 2017, thus substantially surpassing the prior-year figure of €2,148 million. Net profit doubled to €2,801 million (Q1 2016: €1,400 million). Net profit attributable to the shareholders of Daimler AG increased to €2,706 million (Q1 2016: €1,353 million), so earnings per share increased to €2.53 (Q1 2016: €1.26).

"A very successful quarter lies behind us," stated Dr. Dieter Zetsche, Chairman of the Board of Management of Daimler AG and Head of Mercedes-Benz Cars. "Ahead of us, we have a variety of opportunities for further profitable growth. We do have the right products to take advantage of these opportunities – and the financial strength to make the necessary investments. The latest example: our new S-class. Daimler remains on the fast lane."

Mercedes-Benz Cars achieved particularly strong earnings growth. Its EBIT growth is mainly the result of increased unit sales of the new E-Class and the SUV models. The Daimler Trucks division significantly improved its earnings, primarily due to the sale of real estate in Japan. Mercedes-Benz Vans and Daimler Buses also achieved significantly higher EBIT than in the prior-year period. At Daimler Financial Services, earnings grew significantly mainly as a result of increased contract volume. Exchange-rate effects had a positive impact on operating profit at all the divisions.

"We made a very good start to the year and once again surpassed our margin targets in the automotive business," said Bodo Uebber, Member of the Board of Management of Daimler AG responsible for Finance & Controlling and Daimler Financial Services. "We are very confident for the remainder of the year to achieve our financial as well as our strategic goals. At the same time, we are constantly aware of the political and economic challenges and will continue to act flexibly and cautiously."

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