Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on DAIMLER AG-REGISTERED SHARES. We currently have 34 research reports from 1 professional analysts.
|22Sep16 01:00||PRN||Daimler Financial Services appoints Udo Neumann Global Chief Information Officer|
|22Sep16 10:04||PRN||Sibylle Wankel succeeds Dr. Sabine Maaßen on the Daimler Supervisory Board|
|27Jul16 09:35||PRN||Mercedes-Benz is presenting the first fully electric truck for heavy distribution operations|
|21Jul16 09:06||PRN||Supervisory Board of Daimler AG appoints Britta Seeger as Member of the Board of Management for Mercedes-Benz Cars Marketing & Sales|
|21Jul16 10:13||PRN||Daimler continues along its successful course - record unit sales in second quarter and first half of 2016|
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DAIMLER AG-REGISTERED SHARES
DAIMLER AG-REGISTERED SHARES
Car delivery growth remained strong throughout 2016
09 Jan 17
Deliveries were up by 9.0% to 204,978 Mercedes-Benz and Smart cars which brought the full-year number to 2.23m, an increase of almost 12%. Asia (+13% to 71,583) and Europe (+11% to 88,773) continued to be the most prosperous regions for Daimler while deliveries fell by 1.8% to 38,547 in Nafta. The respective full-year numbers were +21% to 761,045, +13% to 1.01m, and +0.6% to 404,225. During the course of 2016, the model mix changed slightly. While S-class deliveries fell strongly (-19% to 7,487 in December and -18% to 88,520 in the full-year), SUVs experienced very sharp demand (+9% to 65,824 and +34% to 706,170, respectively). The newly-introduced E-class has started to show positive growth (+14% to 31,272 in December), but the volume is still down by 1.7% to 296,324 for the full-year. Smart was very successful throughout last year with volume growth of 47% to 14,709 in December and 21% to 144,479 in the full-year.
To fight Uber, Daimler and BMW might merge their car-sharing operations
16 Dec 16
Car2go (Daimler) and Drive Now (BMW) might be merged into one company which, according to the media, allows both to fight Uber more successfully. Together they are believed to operate more than 20,000 cars worldwide, of which 2,500 electric cars and 6,000 in Germany. The German car-sharing market is believed to have a fleet of 7,000 cars, i.e. BMW and Daimler together have a market share of more than 80%. Uber is currently testing self-driving cars in the USA, but has experienced a backslash in California. As Uber has not applied for permission to test-drive these cars, Californian authorities have forbidden these cars with immediate effect.
November was again a superb month
06 Dec 16
Passenger car delivery growth was +12.9% to 195,167 in the last month which brought the ytd number to 2.02m, an increase of 12.2%. Mercedes-Benz’s respective delivery numbers were +12.7% to 182,602 and +11.8% to 1.89m, whereas the Mini’s growth rates were stronger (+16% to 12,565 and +19% to 129,770). Disproportionate growth continued to be achieved with SUVs (+18% to 61,266) in November, although this was lower than in the months before (+38% to 640,346 ytd). On the other hand, the all-new E-class is starting to show strong growth. This volume increased by 20% to 29,632 in November but it was still down by 3.3% to 265,052 ytd. In addition, the C-class continued doing well (+11% to 41,923 and +4.1% to 438,705, respectively). The current S-class has been produced since 2013 and new competition (e.g. BMW model 7) has taken market share. As a result, its deliveries fell by 20% to 6,741 in November and by 17% to 81,033 ytd. The regional distribution showed positive growth everywhere, but delivery growth in Nafta was quite subdued (+3.9% to 36,159 and +0.9% to 365,678) whereas growth was very strong indeed in both Europe (+15% to 87,577 and +13% to 917,607) and APAC (+17% to 66,631 and +22% to 689,462).
Where will Daimler build the batteries?
06 Dec 16
The group has one small battery factory in Kamenz (Saxony) with 350 employees which has been producing lithium-ion batteries since 2012. This plant will be expanded by a second one and a total of €500m will be invested. At the same time, employees in Stuttgart, where most of Daimler’s employees are located, argue that batteries have to be manufactured there as well. These employees concentrate on combustion engines today and see demand falling in the future. As a result, they see employment falling in the Stuttgart area while it is expected to increase in Saxony, which they intend to prevent. Management has made it clear that battery technology is a core component for the group in the future and that the batteries will be built in several plants. Battery R&D is concentrated in Stuttgart and the production hub will be in Kamenz. Other plants (most probably outside Germany) will be duplicates of the Kamenz plant which is the reason why investments for the other plants are expected to be limited to another €500m in total.
€10bn for 10 electric cars
28 Nov 16
Daimler intends to invest €10bn into the development of ten electric cars through to 2025. By then, it plans to offer several of its car models as full-electric cars (three of them will be Smart) and believes that between 15% and 25% of its sales volume will be fully electric. Based on today’s delivery volume, this translates into an annual volume between 350,000 and 550,000 vehicles. The above numbers show the necessary investment per car model, i.e. roughly €1bn.
Car delivery growth remained strong in October
07 Nov 16
The group’s car deliveries were up by 11.4% to 184,606 in the last month which brought the ytd number to 1.83m, an increase of 12.2%. The respective numbers for the Mercedes-Benz brand were +11.5% to 173,096 and +11.7% to 1.71m. Throughout the entire year, deliveries of SUVs have continued to rise sharply (+24% to 58,759 in October and +40% to 579,080 ytd) and the introduction of the all-new E-class (April 2016) has started to help (+16% to 27,635 in October but -5.6% to 235,420 ytd) as of late. S-class deliveries continued to fall (-7.8% to 7,545 in October and -17% to 74,292 ytd). By region, Europe continued to be very positive (+8.6% to 80,315 and +12.5% to 830,030) as was APAC (+26% to 65,996 and +22% to 622,831), whereas the number has started to be in negative territory in Nafta (-1.9% to 33,455 in the last month but +0.6% to 329,519 ytd).
The Slide Rule
12 Jan 17
What is The Slide Rule? The Slide Rule has been designed to dramatically simplify the identification of the best companies in the UK small/mid-cap sector by making a quantitative assessment of the relative potential of each company. At its core, The Slide Rule aims to identify those companies that create genuine shareholder value through strong returns on capital and solid growth, but also present a value opportunity with the potential tailwind of earnings momentum. Companies are assessed within a Quality, Value, Growth and Momentum (QVGM) framework.
N+1 Singer - Small-cap quantitative research - Momentum screen refresh + 10 focus stocks
12 Jan 17
We have refreshed our momentum style screen for the first time since inception on 26 July 2016. As before, the screen selects the 25 stocks exhibiting the most extreme momentum characteristics, according to our measurement method. From these we have selected 10 to focus on. Since inception the screen has underperformed both the main small-cap and micro-cap indices against a background of generally rising momentum. We have noted a subset of the basket, where decelerating momentum at the time of measurement appears correlated with significant share price falls since selection. We shall monitor this factor with the new screen, albeit there are only two such stocks showing this pattern, namely Lamprell (not rated) and Gear4music (not rated).
N+1 Singer - Morning Song 12-01-2017
12 Jan 17
As anticipated, the second half has again been stronger than H1 and results will be broadly in line with expectations. In line with this, the order book has continued to grow and is at record levels. This confirms that significant progress has been made in the Group’s shift towards its Technology Products division which, as targeted, contributed c.60% of group revenue in FY16. The small acquisition of Cable Power also gives a complementary boost to the product range. It is also worth noting the significant reduction in net debt, £1.0m ahead of our forecast. We remain supportive of the Group’s strategy and continue to see a bright future as this transition towards a design led technology solutions business continues. We look forward to more detail in March at the final results.
10 for 17
09 Jan 17
As always at the start of a year, there are significant uncertainties about the year ahead but I think in 2017, the level of uncertainly has decisively moved up a gear. In fact, a leading economist at the LSE, Ethan Ilzetzki, was recently quoted as saying “I view the current global economic environment as the most uncertain in modern history”. Wow.
Conviction List Q1 2017
05 Jan 17
Since its inception in 2010, the Conviction List has outperformed the market in 11 of 19 periods and a reinvested Conviction List would have returned 260% against a Small Companies index that would have returned 194%. Our Conviction List returned 0.4% over the last quarter; this was set against the benchmark UK Small Companies index that returned 4.0% over the same period.
Positive momentum on trading and cash
10 Jan 17
Trading for the four months to end December continued the positive trend of the first two to October. We understand that both constant currency trading and exchange rates have been favourable. Cash has also grown encouragingly, reflecting net receipts from the strong sales in late FY16 as well as early FY17. Recent softness in the shares represents excellent medium-term value for a niche market leader with positive growth.