Daimler has released preliminary second quarter 2010 financials showing Mercedes-Benz Cars earnings before Interest and Taxes (EBIT) “above market expectations” and said it would hike its 2010 full year guidance when it announces final Q2 results on 27 July.
“The second quarter EBIT was especially carried by Mercedes-Benz Cars,” Daimler said in a statement.
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“The main factors for this excellent result were a positive sales development, especially in China and the US, an advantageous product mix as well as better price penetration and positive exchange effects. Also, the Daimler Trucks division developed positively in the second quarter und improved its operational results. The main reason was the positive sales development in our major markets as well as measures to sustainably reduce cost.”
Q2 group revenues totalled EUR25.1bn (2009: EUR19.6bn) while group EBIT, including special items, was EUR2.1bn (2009: EUR1bn loss).
Preliminary division EBIT totals were: Mercedes-Benz Cars, EUR1.38bn; Daimler Trucks, EUR300m; Mercedes-Benz Vans, EUR127m; Daimler Buses, EUR79m and Daimler Financial Services EUR171m.
Revenues respectively were: cars, EUR14.018bn; trucks, EUR5.853bn; vans, EUR1.977bn; buses, EUR1.205bn; and financial services, EUR3.322bn.
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By GlobalDataDaimler added it would will increase its EBIT guidance for 2010 with its Q2 report on 27 July.
