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Daimler’s Profit Surges 93%
Daimler AG posted a net profit of €1.1 billion in the first quarter of 2014 compared to €564 million in the same period last year.
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Daimler AG posted a net profit of €1.1 billion in the first quarter of 2014 compared to €564 million in the same period last year. Revenue climbed 13% to €29.5 billion.
Unit sales for the period jumped 13% to a record 568,800 passenger cars and commercial vehicles.
Group earnings before taxes and interest zoomed to €1.8 billion from €917 million, thanks to more volume, a richer sales mix and efficiency gains at all operating units.
Daimler's Mercedes-Benz Cars unit posted record sales of 389,500 units, up 14%. EBIT climbed to €1.2 billion from €460 million, and return on sales jumped to 7% from 3.3%.
Daimler Truck sales rose 7% to 108,500 units in the first quarter as EBIT tripled to €341 million. The company's Mercedes-Benz Vans unit boosted sales 16% to 61,100 vehicles, hiking revenue 11% to €2.2 billion and increasing operating profits 52% to €123 million.
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