Daimler’s H1 revenue and operating profit numbers were not much different from our expectations. Revenue increased by 8.5% to almost €80bn (we had expected €80.8bn) and EBIT was up by 43% to €7.75bn (our forecast was €7.38bn). However, net earnings came in at €5.15bn (+46%) while we had projected €6.17bn. The reason is the tax rate which shot up from less than 23% in Q2 16 to more than 31%.
26 Jul 2017
Much higher Q2 tax rate resulted in lower than expected net earnings
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Much higher Q2 tax rate resulted in lower than expected net earnings
Mercedes-Benz Group AG (MBG:WBO) | 0 0 0.5% | Mkt Cap: 77,349m
- Published:
26 Jul 2017 -
Author:
Hans-Peter Wodniok -
Pages:
2
Daimler’s H1 revenue and operating profit numbers were not much different from our expectations. Revenue increased by 8.5% to almost €80bn (we had expected €80.8bn) and EBIT was up by 43% to €7.75bn (our forecast was €7.38bn). However, net earnings came in at €5.15bn (+46%) while we had projected €6.17bn. The reason is the tax rate which shot up from less than 23% in Q2 16 to more than 31%.