E-MAIL
Recovering automotive markets around the world, strong growth in major car and commercial-vehicle markets, an attractive product portfolio and the implementation of efficiency improvements had a very positive effect on Daimler AG in the second quarter of 2010. Group EBIT amounted to euro 2,104 million (Q2 2009: minus euro 1,005 million). "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.
The company anticipates significant revenue growth in 2010 and is targeting EBIT from the ongoing business of euro 6 billion.
Daimler Buses sold a total of 10,800 buses and chassis worldwide (Q2 2009: 8,300). Revenue of euro 1.2 billion was higher than in the prior-year quarter (euro 1.1 billion). EBIT also increased, to euro 79 million compared to euro 49 million in the second quarter of last year. The return on sales was 6.6% (Q2 2009: 4.4%). The main factors behind this earnings development were positive exchange-rate effects and higher revenue resulting from increased chassis shipments in Latin America.
In view of the good business development in all divisions and supported by the favourable development of important exchange rates, the Daimler Group has once again increased its earnings forecast. For 2010, EBIT from the ongoing business of euro 6 billion is targeted. This expectation is based on the continuation of a stable economic development and the ongoing market success of the Group"s products. The biggest risks are seen to be in the high volatility of the financial markets, as well as in a worsening of the macroeconomic environment.
Daimler Buses anticipates growth in unit sales for 2010, primarily due to the development of chassis sales in Latin American markets. In Western Europe, however, unit sales will remain below the prior-year level for market reasons. This division expects to post EBIT of euro 180 million.