Daimler Profits Revive

Daimler AG more than doubled its earnings before interest and taxes to €5.2 billion in the second quarter of 2013 compared with the same period last year, according to the company's preliminary report.

Revenue climbed to €29.7 billion from €28.9 billion a year earlier.

The company credits its stronger operating income in part to a €3.2 billion one-time gain from the sale in April of its stake in Airbus maker EADS 19% higher than Daimler previously estimated.

In the March-June period, the Mercedes-Benz Cars unit's EBIT slid to €1 billion from €1.3 billion a year earlier, despite a 6% revenue increase to €16.3 billion. But the unit's results were a marked improvement from the first three months of 2013. Operating profit in the latest period amounted to 6.4% of sales compared with 3.3% in the first quarter.

Daimler Trucks second-quarter EBIT fell 17% year on year to €434 million as sales dipped 1% to €8 billion.

Operating income at the Mercedes-Benz Vans business rose 4% to €204 million on flat revenue of €2.4 billion. The company's bus unit swung to positive EBIT of €27 million from a €57 million loss in last year's second quarter. Bus sales dropped 10% to €900 million.

Daimler reiterates that it expects its results to be stronger in the second half of this year than in the first.