Daimler AG / Quarter Results
19.10.2009
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by
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Third-quarter cash flow better than market expectations
* Earnings also better than anticipated
Stuttgart -Daimler AG (stock-exchange abbreviation DAI) today presented its
preliminary figures for the third quarter of 2009.
Group revenue amounted to EUR19.3 billion, while Group EBIT including
adjustments and special items at Freightliner and Fuso amounted to EUR470
million; the industrial business generated a free cash flow of EUR2.3
billion in the first nine months of this year (Q3 2009: EUR2.0 billion).
The divisions' earnings (EBIT) were as follows:
* Mercedes-Benz Cars: EUR355 million
* Daimler Trucks: minus EUR127 million
* Mercedes-Benz Vans: EUR1 million
* Daimler Buses: EUR23 million
* Daimler Financial Services: EUR101 million
The industrial business generated a free cash flow of EUR2.3 billion in the
first nine months of this year (Q3 2009: EUR2.0 billion). Net liquidity
thus increased to approximately EUR6.7 billion at September 30, 2009.
The free cash flow of the industrial business in the third quarter was
affected by an increase in liabilities due to the higher production volume
after the production break in August, as well as positive management of
accounts receivables. There was also an impact from payments within the
Group that were received by the industrial business from the financial
services business within the context of fiscal unities (EUR0.6 billion).
Daimler anticipates a positive free cash flow in the industrial business in
full-year 2009.
These figures surpass analysts' consensus estimates of which the Group is
currently aware.
The Daimler Group will publish further details of its quarterly financial
statements on October 27, 2009.
Further information on Daimler is available on the internet:
www.media.daimler.com
This document contains forward-looking statements that reflect our current
views about future events. The words 'anticipate,' 'assume,' 'believe,'
'estimate,' 'expect,' 'intend,' 'may,' 'plan,' 'project,' 'should' and
similar expressions are used to identify forward-looking statements. These
statements are subject to many risks and uncertainties, including a lack of
or a considerable delay in improvement or a further deterioration of global
economic conditions; a continuation or worsening of the tense situation in
the credit and financial markets, which could result in ongoing high
borrowing costs or limit our funding flexibility; changes in currency
exchange rates and interest rates; the introduction of competing,
fuel-efficient products and the possible lack of acceptance of our products
or services, which may limit our ability to adequately utilize our
production capacities or raise prices; price increases in fuel, raw
materials and precious metals; disruption of production due to shortages of
materials, labor strikes, or supplier insolvencies; a further decline in
resale prices of used vehicles; the effective implementation of
cost-reduction and efficiency-optimization programs at all of our segments,
including the repositioning of our truck activities in the NAFTA region and
in Asia; the business outlook of companies in which we hold an equity
interest, most notably EADS; changes in laws, regulations and government
policies, particularly those relating to vehicle emissions, fuel economy
and safety; the resolution of pending governmental investigations and the
outcome of pending or threatened future legal proceedings; and other risks
and uncertainties, some of which we describe under the heading 'Risk
Report' in Daimler's most recent Annual Report and under the headings 'Risk
Factors' and 'Legal Proceedings' in Daimler's most recent Annual Report on
Form 20-F filed with the Securities and Exchange Commission. If any of
these risks and uncertainties materialize, or if the assumptions underlying
any of our forward-looking statements prove incorrect, then our actual
results may be materially different from those we express or imply by such
statements. We do not intend or assume any obligation to update these
forward-looking statements. Any forward-looking statement speaks only as of
the date on which it is made.
About Daimler
Daimler AG, Stuttgart, with its businesses Mercedes-Benz Cars, Daimler
Trucks, Daimler Financial Services, Mercedes-Benz Vans and Daimler Buses,
is a globally leading producer of premium passenger cars and the global
market leader of heavy- and medium-duty trucks as well as buses. The
Daimler Financial Services division has a broad offering of financial
services, including vehicle financing, leasing, insurance and fleet
management. Daimler sells its products in nearly all the countries of the
world and has production facilities on five continents. The company's
founders, Gottlieb Daimler and Carl Benz, continued to make automotive
history following their invention of the automobile in 1886. As an
automotive pioneer, Daimler and its employees willingly accept an
obligation to act responsibly towards society and the environment and to
shape the future of safe and sustainable mobility with groundbreaking
technologies and high-quality products. The current brand portfolio
includes the world's most valuable automobile brand, Mercedes-Benz, as well
as smart, AMG, Maybach, Freightliner, Western Star, Mitsubishi Fuso, Setra,
Orion and Thomas Built Buses. The company is listed on the stock exchanges
in Frankfurt, New York and Stuttgart (stock exchange abbreviation DAI). In
2008, the Group sold 2.1 million vehicles and employed a workforce of over
270,000 people; revenue totaled EUR95.9 billion and EBIT amounted to EUR2.7
billion. Daimler is an automotive Group with a commitment to excellence,
and aims to achieve sustainable growth and industry-leading profitability.
19.10.2009 |[![CDATA[|[a href="http://www.dgap.de"|]Financial News transmitted by DGAP|[/a|]]]|]
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Language: English
Company: Daimler AG
Mercedesstrasse 137
70327 Stuttgart
Deutschland
Phone: +49 (0)711 179 22 61
Fax: +49 (0)711 179 41 09
E-mail: investor.relations@daimler.com
Internet: http://www.daimler.com
ISIN: DE0007100000
WKN: 710000
Indices: DAX, EURO STOXX 50
Listed: Regulierter Markt in Frankfurt (Prime Standard), Stuttgart;
Freiverkehr in Berlin, München, Hannover, Düsseldorf,
Hamburg; Foreign Exchange(s) NYSE
End of News DGAP News-Service
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DGAP-Adhoc: Daimler AG: Third-quarter cash flow better than market expectations
| Source: EQS Group AG