Daimler will report detailed and finalised third quarter results tomorrow (Tuesday, October 27th) following the publication of preliminary results last week that exceeded analysts’ expectations.
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Last week’s statement from the company said that group operating profit amounted to EUR470m in the third quarter, some 27.5% down on last year, but well ahead of expectations after three successive quarters of losses.
Sabine Blümel, an analyst with Creative Global Investments (LLC), told just-auto that the main drivers of improved results at Daimler were an increase in production and cost cutting.
“In fact, the group is reportedly on track to exceed its EUR4bn full year cost cutting drive by 10%,” she said.
She also noted that a better model mix had helped the Mercedes-Benz Cars division to return to profit.
“E-class retail sales were up 43% year-on-year,” she said.
GERMANY: Daimler says cash flow improved
