A bullish Daimler on Wednesday reported healthy second quarter results and said group earnings before interest and tax – EBIT – “will very significantly exceed the level of 2010”. 

Group Q2 EBIT of EUR2,581m in second quarter of 2011 was, the automaker said, “among the best in a quarter in the group’s entire history”. Revenue was EUR26.3bn versus EUR25.1bn in Q2 2010, a 5% rise.

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The Mercedes-Benz Cars unit booked a record quarterly EBIT of EUR1,566m (EUR1,376m a year ago).

Group net profit increased to EUR1,704m, also a record (Q2 2010: EUR1,312m) and earnings per share were EUR1.51 (EUR1.18).

“Daimler developed very dynamically in the second quarter in terms of unit sales, revenue and earnings,” said chairman Dieter Zetsche. “The very good earnings trend is primarily a reflection of increased vehicle shipments by nearly all divisions. Mercedes-Benz Cars actually recorded its strongest ever volumes and highest ever quarterly EBIT.

“With our excellent first half of the year, we are fully on schedule to turn 2011 into one of the most successful years in our long corporate history. We now assume that group EBIT will develop more positively than we previously expected and will very significantly exceed the level of 2010.”

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In Q2 2011, the group sold 527,600 cars and commercial vehicles, up 6%.

Mercedes-Benz Cars sales rose to a record 357,600 vehicles in the second quarter from 342,500. (Q2 2010: 314,400). Revenue rose by 4% to EUR14.6bn and the division booked record EBIT of EUR1,566m (EUR1,376m).

The trucks division reported EBIT of EUR474m (EUR300m) mainly due to increased unit sales in Europe and the US.

“Developments in the first two quarters have shown that the group continues to make good progress towards the targeted rates of return to be achieved on a sustained basis as of the year 2013,” Daimler said.