Daimler to Book €2.7 Billion Gain on EADS Stake

Daimler AG says it will record a €2.7 billion one-time gain in the April-June quarter from a revaluation of its remaining 7.5% equity holding in Airbus maker European Aeronautic, Defence & Space Co.

The change boost operating profit but won't affect Daimler's cash flow.

The increase in book value is the result of a 60% jump in the price of EADS stock over the last six months. The company's shares closed at €39.78 on the Paris Bourse on Wednesday.

Daimler has said it will divest its stock this summer as part of a restructuring of EADS's ownership. The company sold the other half of its stake in the aircraft company in December for €1.7 billion.