Daimler Posts 2009 EBIT and 2010 Previsions

Last year was a difficult one for most automakers, but everybody managed to pull through. Daimler had a difficult first half of year, but managed to improve its EBIT in the third and fourth quarter. EBIT from ongoing business increased to plus €0.6 billion in the fourth quarter of 2009, resulting in full-year EBIT of minus €1,513 million (2008: plus €2,730 million).

“Last year brought many great challenges also for Daimler,” stated Dr. Dieter Zetsche, Chairman of the Board of Management of Daimler AG and Head of Mercedes-Benz Cars, at the annual press conference. “But as the year progressed, we made the Group significantly more efficient and laid the foundations not only to overcome the upheaval affecting our industry, but to lead from a strong position. We are emerging from the crisis with plenty of torque.”

According to company officials “in a very challenging economic environment in 2010, Daimler expects to post Group EBIT of more than €2.3 billion from its ongoing business. This will be the result of the market success of new products, a moderate upward development of the most important markets, and intensified efforts to increase efficiency.”

The divisions’ EBIT expectations for 2010:

• Mercedes-Benz Cars anticipates EBIT of more than €1.5 billion.
• Daimler Trucks expects to post EBIT of approximately €200 million.
• Mercedes-Benz Vans anticipates EBIT in the region of €250 million.
• Daimler Buses expects EBIT of €180 million.
• Daimler Financial Services assumes it will be able to improve its EBIT to at least €350 million.
• In the reconciliation of the total for the divisions to Group EBIT, Daimler anticipates a charge of approximately €200 million.