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Surge in Sales Propels Daimler Profits

Revenues up 6% as demand grows for new S-Class, other models.

by on Jul.23, 2014

Daimler AG CEO Dieter Zetsche during a recent product unveiling. Mercedes plans to launch 30 new models by the end of the decade.

Promising to regain its once-formidable lead as the world’s top luxury car manufacturer, Daimler AG has unleashed an unprecedented product assault that has begun gaining traction with consumers – driving a surge in second-quarter sales and earnings for the parent of the Mercedes-Benz and Smart brands.

With revenues up 6%, to $42.4 billion, Daimler posted a net profit of nearly $3 billion for the April to June period. But perhaps more telling was the fact that earnings before interest and taxes, or EBIT, shot to 7.9% of revenue during the latest quarter, up from 6.4% a year earlier.

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“We are growing profitably, our strategy is bearing fruit,” said Daimler AG Chief Executive Dieter Zetsche in statement accompanying the earnings announcement. “We are very satisfied with the second quarter and continue to work effectively on structural improvements.”

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Daimler Q1 Earnings Fall by Over Half

German maker slashes full-year forecast.

by on Apr.24, 2013

Daimler CEO Dieter Zetsche is under increasing pressure to deliver a turnaround.

Daimler CEO Dieter Zetsche is under increasing pressure to deliver a turnaround - fast.

Daimler AG suffered through another disappointing quarter as both earnings and revenues tumbled more than analysts expected during the January to March period, putting more pressure on the company’s top executive, Chairman Dieter Zetsche, to produce a turnaround.

The German parent of the Mercedes-Benz and Smart car brands scrapped its 2013 forecast after reporting first quarter earnings before interest and taxes, or EBIT, collapsed by more than half, to 917 million euros from 2.1 billion during the same period a year ago.

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“The company’s margins have collapsed,” observed one analyst during a conference call in which the company’s top executives discussed the quarterly report.

It was an observation senior management struggled to downplay during the call.

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European Crisis Puts Squeeze on Daimler

“Great achievements” tempered by missed targets.

by on Feb.08, 2013

Daimler AG CEO Dieter Zetsche during a preview of the latest Mercedes-Benz E-Class.

With European auto sales sliding to their lowest level in decades last year, the impact has been available, even for the industry’s strongest, most globalized players. That notably includes Daimler AG, which is scrambling to find ways to slash costs after watching its earnings before interest and taxes, or EBIT, drop by 10% in 2012 despite record sales at Mercedes-Benz Cars.

The group’s net profit did rise to 6.5 billion euros, compared to a 6 billion euro net profit for 2011. Last year’s results, however, included a one-time gain on the sale of 7.5% of Daimler’s shares of EAD, the European aerospace and defense company.

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Despite putting a spin on 2012 as a year with “some great achievements,” Dieter Zetsche, Chairman of the Board of Management of Daimler AG and Head of Mercedes-Benz Cars, acknowledged that, “Notwithstanding our success and the numerous pioneering investments in 2012, it is a fact that we did not reach our own targets for earnings and profitability,”

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Daimler Earnings Improve

Teutonic maker hopes to challenge luxury rival BMW.

by on Apr.27, 2012

Mercedes' CSC concept debuted in Beijing this week.

Preliminary signs suggest Daimler AG is gaining traction from the ongoing product blitz launched by its flagship Mercedes-Benz brand, the German manufacturer reporting a 20% increase in net income for the first quarter, earning jumping to more than or 1.4 billion euros ($1.8 billion), or 1.25 euros per share as sale increased 9%.

But the maker repeated a cautionary note sounded by Dieter Zetsche, Daimler’s Chairman of the Board of Management who has referred to 2012 as a transition year for the maker which is struggling to regain its lead as the world’s largest luxury automaker.

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“We have started the year with a strong first quarter. Despite higher investment in future growth and a challenging market environment, we succeeded in surpassing the very good prior-year results in terms of unit sales, revenue, EBIT and net profit,” noted Zetsche.

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VW Hits Earnings Home Run; Daimler Profits Slip

Volkswagen confirms it is on track to be global #1.

by on Oct.27, 2011

The real battle for world dominance will be in China where VW is firmly entrenched.

Volkswagen delivered a huge third quarter, while rival Daimler had its problems.

Confirming it is on track to become the global sales leader Volkswagen revealed it had also hit one out of the park, tripling its net profit for the third quarter of 2011.

Things didn’t go so well for VW’s German rival during the July – September quarter, however, Daimler AG announcing a 15% earnings decline – even though senior officials insisted the company is still on track to deliver better numbers for all of 2011.

Volkswagen’s big increase accompanied a sharp jump in worldwide sales, which reached 6.2 million vehicles during the first nine months of this year.  With VW expected to top sales of 8 million for the full year, industry analysts have predicted the carmaker will outsell rivals General Motors and Toyota – which had led the industry for the last few years but has been hurt by production cuts resulting from the Japanese earthquake of March 11.

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For his part, VW Chief Executive Martin Winterkorn admitted his goal of world automotive domination, though not necessarily this year, telling investors, “We are on the right path to becoming the world’s leading automaker by 2018 — in both economic and ecological terms.”

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Daimler Earnings Double

German maker forecasts record Mercedes sales.

by on Apr.29, 2011

Daimler CEO Dieter Zetsche forecasts big increases in demand for Mercedes-Benz, especially in China.

Daimler AG’s first-quarter net profit nearly doubled to $1.65 billion, revenue increasing by 17% on stronger sales across the company’s business lines – which, in turn, prompted a prediction of record sales for Mercedes-Benz passenger cars this year.

“We achieved excellent earnings in the first quarter. This puts us well ahead of our planning and confirms our positive outlook for the year 2011,” Dieter Zetsche, Chairman of the Board of Management of Daimler AG and Head of Mercedes-Benz Cars, said in a statement Friday.

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Insisting the company is “on the right track,” Zetsche said Daimler is counting on delighting customers w with new product, “continuous innovation and new technologies” in order to “continue our profitable growth.”

Revenues climbed to $34.7 billion, largely reflecting a 12% increase in unit sales in the first quarter to 310,700 vehicles.

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Daimler Posts $816 Million Profit for Q1

German maker looking to go black for the year.

by on Apr.28, 2010

With sales of high-line models, like the 2010 Mercedes-Benz S-Class, showing renewed strength, Daimler AG is forecasting a good year ahead.

Daimler expects to post a substantial profit this year, following the announcement by the German automaker that it earned  net income of $816 million for the first quarter of 2010.

“This very good result for the first quarter shows that we did our homework in the crisis and are now firmly on track for success once again,” stated Dr. Dieter Zetsche, Chairman of Daimler AG and head of Mercedes-Benz Cars.

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That’s a sharp turnaround compared to the nearly $1.7 billion Daimler lost during the first-quarter of 2009. The very positive earnings were reflected by what Zetsche called the “upward trends in nearly all divisions.”

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