Mercedes Benz emblemDaimler Copyright Thomas Niedermueller, Getty Images

Daimler Reports Underlying Profits Up in Q3

FRANKFURT - German auto giant Daimler (IW 1000/16) said Tuesday that underlying profits were higher in all divisions in the third quarter and it was sticking to its forecast for the full-year.

Daimler, which will publish full details of its third-quarter results on Oct. 23, said in a statement that underlying or operating profit was up in all divisions.

In the biggest, Mercedes-Benz Cars, earnings before interest and taxes (EBIT) increased by 29% to 1.614 billion euros ($2.05 billion), the statement said.

The Daimler Trucks division reported a 16.7% rise in EBIT to 618 million euros and Mercedes-Benz Vans saw its underlying profit jump by 15.8% to 176 million euros.

In the Daimler Buses division, EBIT advanced by 4.9% to 64 million euros and in Daimler Financial Services it was up 10.2% at 355 million euros.

Daimler said that its outlook for the individual divisions was unchanged.

Full-year EBIT at Mercedes-Benz Cars, Daimler Trucks and Daimler Buses was projected to come out "significantly above" the previous year's level.

Full-year profit at Daimler Financial Services would be "slightly above" last year's level and at Mercedes-Benz Vans, it would match the previous year's figure, Daimler said.

Copyright Agence France-Presse, 2014

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