A EUR3.2bn one-off boost from the sale of the remaining EADS shares resulted in Daimler Q2 earnings significantly higher than Q2 2012 and than the market expected.
Group EBIT was EUR5,242m (Q2 2012: EUR2,268m). Net profit was EUR4,583m (EUR1,565m) and earnings per share EUR2.65.
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“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. This represents progress in our earnings development, but no cause for complacency, said chairman Dieter Zetsche.
“As a result of our new products, the increasing impact of the efficiency programmes running in all business units and the further development of the markets that are especially important for us, we can assume that our earnings in the second half of 2013 will be significantly better,” added Zetsche.
Mercedes-Benz Cars growth in unit sales was not fully reflected in earnings, primarily due to the changed product mix and Daimler Trucks’ earnings were reduced by ongoing weak demand, especially in Asia and Western Europe. Vans and Buses improved their earnings in the second quarter of 2013, while Financial Services’ EBIT decreased.
Daimler Group sold 605,800 cars and commercial vehicles worldwide in Q2, up 6%.
Q2 revenue was 3% higher at EUR29.7bn.
More detail and division results, click on ‘press release’ below
