DaimlerChrysler achieved an operating profit of $US6.5 billion (€5.2 billion) for 2003 after one-off gains and losses were subtracted.
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Though the operating profit slightly exceeded the €5 billion target, it was down on 2002’s €6.8 billion while net profit plunged from $5.94 billion (€4.72 billion) in 2002 to $564 million or €448 million for 2003.
DC said this was due to the lower operating profit and the “impairment” of $2.5 billion on DaimlerChrysler’s investment in EADS, taken into account in the 3rd quarter of ‘03
All-in, the $YS7.2 billion operating profit was achieved ($8.6 billion in 2002) included Chrysler restructuring expenses of $591 million and a gain of $1.3 billion from the sale of the MTU Aero Engines business unit.
“DaimlerChrysler therefore achieved its own goal for its ongoing business in last year’s very difficult market environment,” the Anglo-German carmaker said in a statement.
Earnings per share were $0.55 (€0.44) compared with 2002’s $5.90/€4.68).
DaimlerChrysler’s revenues in 2003 decreased by 7% to $171.9 billion.
The company expects to pay a dividend of €1.50 per share, the same as in 2002.
