A 27% increase in sales during the second quarter has prompted Daimler AG to raise its estimate on full year profits to more than $7.6 billion.
“Our strategy is paying off. We have a very dynamic development of unit sales and revenue in all divisions. After what was already a very good first quarter, we achieved excellent results in the second quarter,” stated Dr. Dieter Zetsche, Chairman of the Board of Management of Daimler AG and Head of Mercedes-Benz Cars.
Mercedes-Benz Cars and Daimler Trucks, in particular, posted significant improvements in their operating profit, added Zetsche, who should feel some personal relief at the latest developments. Only a year ago, despite the Daimler board’s decision to extend his contract, there were sharp questions being raised about the chairman’s personal long-term prospects.
“We anticipate significant revenue growth in 2010 and we are targeting earnings before interest and taxes from the ongoing business of Euro 6 billion.”