Despite record sales of 2.5m vehicles with a 10% rise in revenue, Daimler group EBIT was flat at EUR10.8bn for 2014 and net profit dipped EUR1.5bn. Operating EBIT rose EUR2.1bn, however.

Daimler said EBIT of EUR10.8bn was boosted by the sale of shares in EADS while EBIT from ongoing business increased 27% to EUR10.1bn, a record. Net profit of EUR7.3bn, though lower than 2013’s EUR8.7bn which was also boosted by the EADS sale.

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Unit sales rose 8% to 2.5m vehicles with cars up 10% and vans up 9%.

The automaker said the 2% increase in truck sales was lower than originally expected due mainly to “the weak state of markets in western Europe and Latin America”. Bus sales were slightly lower. Group revenue rose 10% to EUR129.9bn; adjusted for exchange-rate effects, revenue grew by 12%.

“We are proud of our development in the past financial year. As the year progressed, we continuously improved our performance and surpassed the prior-year quarters. We are growing profitably, our strategy is paying off,” said Daimler finance chief Bodo Uebber in a statement.

Mercedes-Benz Cars, including AMG, Maybach revived as a sub-brand and Smart, sold 1,722,600 vehicles last year while revenue rose 14% to a record EUR73.6bn. Divisional EBIT was up to EUR5,853m from EUR4,006m in 2013 after sales grew particularly in Asia, Europe and the US after a spate of new model launches.

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Also with fresh relatively fresh products, the vans unit made record sales in 2014, up 9% to 294,600 units. Revenue also reached a record EUR10.0bn versus EUR9.4bn in 2013. EBIT was up to EUR682m from EUR631m.

Fourth quarter

Fourth quarter revenue increased 11% to a record EUR35.7bn. Group operating EBIT rose EUR0.2bn to EUR2.8bn as cars’ operating EBIT increased 27% to a record EUR1.8bn.

Outlook

“As a result of the rather subdued economic outlook, growth in global demand for cars of approximately 4% is expected in 2015,” Daimler said.

“China is once again expected to deliver the biggest contribution by far to the expansion of global car sales.”

It is also expecting slight growth in the US (describing the recent return there to pre-crisis levels as “close to saturation”), western Europe and Germany. Rises are also expected in Japan and India while in Russia “a further significant drop in sales of cars must be assumed due to the worsening economic crisis there”.

Group revenues and EBIT are expected to rise again in 2015.