Daimler Ups EBIT Estimate to 4 Billion Euros

Having posted its financial results for 2009 earlier this February, German carmaker Daimler has now revised it's 2010 full-year EBIT estimate to 4 billion euros, after the results for the first quarter show 1,190 million euros. The new estimate is bigger even than the estimate made by Daimler on April 19, when it said it expects an EBIT of 2,5 to 3 billion euros.

“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,” Dieter Zetsche, Daimler chairman of the board said when announcing the new estimate.

Each of the group's divisions are expected to contribute to the new value, with Mercedes-Benz Cars expected to chip in, on its own, 2.5 billion to 3 billion. Daimler Trucks hopes to achieve 500 million to 700 million, Mercedes-Benz Vans 250 million, Daimler Buses 180 million and Daimler Financial Services 500 million.

The very optimistic outlook for Mercedes-Benz Cars comes from the projected sales of the new E-Klasse models. The addition of the SLS AMG, the R-Klasse and CL-Klasse are also expected to chip in.

"The very positive earnings development is reflected by ongoing upward trends in nearly all divisions. Mercedes-Benz Cars in particular posted significantly positive earnings for the first quarter of 2010, due to increased unit sales in the E-Klasse and S-Klasse segments," Daimler says.