Daimler managed to improve its EBIT from continuing operations compared with the first quarter of 2009 to minus €401 million in the second quarter, mostly as a result of the restructuring measures set in place by the manufacturer.
“Above all at Mercedes-Benz Cars, but also at Mercedes-Benz Vans and Daimler Financial Services, we succeeded in improving earnings in the second quarter compared with the first quarter of 2009. This demonstrates that we are on the right track and that the measures we have taken are having positive effects. However, a comparison with the very good second quarter of last year shows that there is still a lot of work to be done,” Dieter Zetsche, Daimler chairman of the board said in a release.
Mercedes has high hopes for the future, as it expects a revival of business in the second half of the year. Still, the outlook for the Mercedes-Benz Cars division remain bleak, as no matter how good the second half will be, it won't compensate for the losses in the first half, Daimler says.
In the second quarter of 2009, Daimler sold 391,500 cars and commercial vehicles worldwide, which was 31 percent down from the same period of last year. In the months that follow, Daimler anticipates low volumes in the US, Western Europe and Japan, with the only good news coming from China, who is expected to somehow balance the other markets.
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