DaimlerChrysler has delayed its interim report on the first quarter of 2007 from 26 April to 15 May, citing delays with preparing 2006 financial statements and parallel work on IFRS financial statements, which have also had an impact on the timing of the quarterly announcements.
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DC has previously announced that, in the 2007 financial year, it will change over its accounting and financial reporting from US GAAP to International Financial Reporting Standards (IFRS). For comparative reasons, this also requires the preparation of retroactive IFRS accounts for 2006, the automaker said in a statement.
“The change of schedule was caused by delays with the preparation of the financial statements for the year 2006 according to US GAAP and IFRS in the first two months of this year. It was not possible to compensate for these delays in the following weeks.
“As a first step, DaimlerChrysler intends to publish its consolidated financial statements for the year 2006 according to IFRS on 26 April, 2007. The interim report on the first quarter of 2007 is to follow on 15 May, 2007.”
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