Daimler Posts $2.1 Billion Profit

July 16, 2010
Sales of Mercedes-Benz cars in U.S. China bolstered earnings

Daimler posted strong quarterly figures on July 16 on the back of soaring demand for its Mercedes cars and trucks, a weaker euro boosting exports and cost cutting measures.

Daimler said it made a second quarter operating profit of 2.1 billion euros (US$2.7 billion), reversing a year-earlier loss of one billion euros.

The group also said its sales in the three months to June jumped to 25.1 billion euros from 19.6 billion euros a year earlier.

The results were especially driven by Mercedes-Benz Cars, Daimler's auto division, a statement said. That unit posted sales of 14 billion euros and earnings before interest and taxes (EBIT) of 1.38 billion euros, owing to stronger demand, "especially in China and the United States," it said.

Other factors given were "an advantageous product mix as well as better price penetration and positive exchange effects" as the euro declined in value against other major currencies.

Daimler Trucks, the world's leading maker of heavy vehicles, turned in a stronger performance as well, benefitting from cost-reduction measures, the statement said.

Daimler said it would raise its EBIT outlook for 2010 when it reports full second quarter results on July 27.

Copyright Agence France-Presse, 2010

Popular Sponsored Recommendations

Food and Beverage 2024 Trends and Outlook for North America

Oct. 29, 2023
Ready to hear what 200 of your peers said are the top challenges and opportunities in 2024? Don’t fall behind. Uncover actionable insights to better prepare for 2024 in this whitepaper...

Beat the odds. Optimize product costs. Mitigate supply chain issues.

Sept. 12, 2023
Leverage fact-based supplier negotiations. Enhance design. Get to market faster. Our comprehensive Should Cost Analysis guide shows you how.

Process Mining For Dummies

Nov. 19, 2023
Here it is. Everything you need to know about process mining in a single book, written in the easy-to-understand, hard-to-forget style that ‘For Dummies’ manages so effortlessly...

Discover How an Eye Tracking Study Improves Training Procedures

Oct. 29, 2023
Did you know that your training processes can be streamlined by visualizing and analyzing key skills within your employee base? Find out how we use eye tracking to capture advanced...

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!