DaimlerChrysler on Tuesday announced that it had quadrupled operating profit for the 2002 finanical year while net profit, excluding one-time effects, rose to $US3.5 billion from $0.8 billion in 2001.

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Earnings per share excluding one-time effects amounted to $3.46 (2001: $0.77) and the company plans to pay a dividend of $1.57 per share for 2002, an increase of 50% compared to 2001.

Preliminary figures for the DaimlerChrysler group released late on Tuesday show that operating profit, excluding one-time effects of US $6.1 billion, was achieved in 2002, compared with $1.4 billion for 2001. Operating profit including one-time effects amounted to US $7.2 billion after an operating loss of US $1.4 billion in 2001.

In the first nine months of 2002, operating profit included net one-time effects of US $1.7 billion. In the fourth quarter of 2002, Commercial Vehicles recorded one-time charges of US $474 million.

These charges were primarily caused by increased structural changes in the Mercedes-Benz Trucks, DaimlerChrysler Buses and Coaches, DaimlerChrysler Powersystems and Mercedes-Benz Vans business units. In the Services division there were additional charges of US $176 million due to write-downs in connection with the sale of parts of the Capital Services portfolio.

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Net profit including one-time effects amounted to $4.9 billion (2001: net loss of US $0.7 billion), and earnings per share including one-time effects US $4.91 (2001: a loss per share of US $0.69).

DaimlerChrysler’s total revenues in the year 2002 decreased 2% to $156.8 billion. Adjusted for changes in the consolidated group and exchange rate effects, revenues increased by 1.6%.