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Daimler Profits Nearly Double
Daimler AG's net profit in the first quarter of 2014 zoomed 89% to nearly €2.1 billion.
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Daimler AG's net profit in the first quarter of 2014 zoomed 89% to nearly €2.1 billion. Vehicle sales rose 13% to 641,600 units, and group revenue climbed 16% to €34.2 billion. Earnings before interest and taxes soared 63% to €2.9 billion for the period.
The company expects the global car market to expand 3% this year and predicts "significant" growth for its own full-year sales, revenue and EBIT.
Daimler's first-quarter results were largely driven by Mercedes-Benz Cars, where sales grew 18% to 459,700 vehicles. The unit posted gains of 14% in the U.S., 24% in China, 23% in Japan and 20% in South Korea. Revenue rose 15% to €19.5 billion, and EBIT jumped 56% to €1.8 billion.
Daimler Trucks increased its sales 4% to 112,400 commercial vehicles. The unit's revenue gained 18% to €8.4 billion, and EBIT climbed 38% to 472 million.
Mercedes-Benz Vans advanced its first-quarter sales 4% to 63,800 units. Revenue rose 9% to €2.4 billion and operating profit soared 75% to €215 million.
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