Daimler Ups EBIT Target. Again

Things are going extremely well for German manufacturer Daimler, we reckon. In less than four months, the group increased its EBIT target for 2010 twice, the first time to EUR6 billion ($8.33) back in July and the second time today, to EUR7 billion ($9.72 billion).

The carmaker is hoping the excellent market conditions which marked the months of 2010 that have gone by will continue in the remainder of the year. In the third nine months that have passed, Daimler reported free cash flow of EUR5.3 billion ($7.3 billion), with the net profit for the third quarter being EUR1.6 billion ($2.22 billion).

“Of course, the world economy is not yet as stable as it was before the recession, but we are confident that we will continue to operate successfully in our markets,” said Dieter Zetsche, Daimler chairman of the board.

The German group says that in the third quarter of the year it managed to sell 475,100 vehicles, including commercial vehicles, a number which represents an increase of 23 percent compared to the same period of 2009.

Because things are going so good, Daimler also estimates it will employ “slightly” more people than it did at the end of last year. Currently, 259,943 people work for Daimler, compared to the only 256,857 at the end of the third quarter in 2009.

“This repeated positive result was aided by the worldwide recovery of automobile markets, an attractive product range and sustained efficiency improvements,” the German group states. “Due to the upturn in demand, the Daimler Group’s worldwide workforce will grow slightly compared with the end of 2009.”
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About the author: Daniel Patrascu
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Daniel loves writing (or so he claims), and he uses this skill to offer readers a "behind the scenes" look at the automotive industry. He also enjoys talking about space exploration and robots, because in his view the only way forward for humanity is away from this planet, in metal bodies.
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