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Daimler’s Second-Quarter Profit Rises 3%
Daimler AG reports its second-quarter revenue and net profit each advanced 3% to €38.6 billion ($42.6 billion) and €2.5 billion ($2.7 million), respectively.
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Daimler AG reports its second-quarter revenue and net profit each advanced 3% to €38.6 billion ($42.6 billion) and €2.5 billion ($2.7 million), respectively.
Unit sales of cars and commercial vehicles in April-June rose 7% to 761,300 vehicles. Quarterly group earnings before interest and taxes fell to €3.3 billion ($3.6 billion) from €3.7 billion ($4.1 billion). When adjusted for special items, EBIT grew 6% to €4 billion ($4.4 billion).
Daimler's Mercedes-Benz Cars division posted a 9% sales gain to 546,500 cars and crossovers for the period. Deliveries set second-quarter records in Europe and China. Revenue climbed 5% to €22.1 billion ($24.4 billion).
Sales by Daimler Truck fell 13% to 108,300 units in the second quarter as declines in the Americas and Middle East offset 13% growth in Europe. Revenue fell 7% to €8.7 billion ($9.6 billion). EBIT dropped 9% to €621 million ($685 million).
Daimler predicts slight full-year gains in revenue and adjusted EBIT for 2016.
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