DaimlerChrysler has announced a $US1.2 billion group operating loss for the 2001 financial year which it described as “a period marked in particular by difficult market conditions in North America as well as a general slowdown in the global economy.”

In a statement the US/German company said that operating profit excluding one-time effects was $US1.2 billion, within the target range of $1.1 – 1.5 billion announced in February 2001.

With the inclusion of one-time effects the operating loss of $1.2 billion was described as “better than anticipated”.

Net income for the group, excluding one-time effects, amounted to $ 0.7 billion and, including one-time effects, the net loss reached $0.6 billion.

Group Revenues were $ 136.1 billion.

Looking ahead to 2002, DaimlerChrysler said group operating profit excluding one-time effects was expected to exceed twice the 2001 level by “a very significant amount”.