Daimler’s revenue number of €73.7bn (+2.6%) is marginally ahead of our projected €73.0bn, but the profit numbers fall short. EBIT fell by 18% to €5.4bn (we had expected €5.6bn) and net profit came in at €3.85bn (-13%) while our number was €4.3bn. The net profit difference is primarily the €400m provision created for ‘legal affairs’, i.e. most probably for the EU cartel fine for having fixed truck prices in the past.
21 Jul 2016
Dismal H1 16 profits generated by Cars
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Dismal H1 16 profits generated by Cars
Mercedes-Benz Group AG (MBG:WBO) | 0 0 0.5% | Mkt Cap: 77,349m
- Published:
21 Jul 2016 -
Author:
Hans-Peter Wodniok -
Pages:
2
Daimler’s revenue number of €73.7bn (+2.6%) is marginally ahead of our projected €73.0bn, but the profit numbers fall short. EBIT fell by 18% to €5.4bn (we had expected €5.6bn) and net profit came in at €3.85bn (-13%) while our number was €4.3bn. The net profit difference is primarily the €400m provision created for ‘legal affairs’, i.e. most probably for the EU cartel fine for having fixed truck prices in the past.