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Daimler Posts Q2 Earnings

Ryan Joseph Ramos July 23, 2013

Daimler_LOGO

Daimler AG has posted its official report of earnings for the second quarter of 2013, and the outlook is good for the German company that owns Mercedes-Benz. Highlights include a net profit of €4.583 billion, which translates to around $6.05 billion, from total revenue of €29.7 billion (around $39.2 billion).

Overall, the figures compare favorably to the figures for the same period last year. Net profit was only at €1.57 billion in Q2 2012, while revenue is up from €28.9 billion. Group EBIT is up from €2.268 billion in Q2 2012 to €5.242 billion for this year’s second quarter.

In addition, the numbers confirm the outlook from initial EBIT reports; that is, the Daimler group should continue to achieve the anticipated revenue and sales growth for the entire year. The group foresees more improvements in these areas because of ongoing efficiency programs and current projections for various markets.

“As we previously announced, our earnings in the second quarter improved significantly compared with the first three months of the year and exceeded market expectations,” said Dr. Dieter Zetche, Daimler Board of Management chair and Mercedes-Benz Cars chief.

“This represents progress in our earnings development, but no cause for complacency,” said Dr. Zetsche, adding that the group will continue to work hard in order to achieve its goals.


About

A longtime fan of basketball and Formula One, this guy has been a Mercedes-Benz enthusiast since he's heard about cars. One day, he'll own an AMG car--or so he says.

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