Prime Mover Magazine

Daimler AG reports revenue spike for Q2 2019 despite losses

German commercial vehicle manufacturer, Daimler, has reported a five per cent increase in revenue year-on-year for Q2 2019 amid a decline in Earnings Before Interest and Taxes (EBIT) and a net loss.

Group total unit sales declined by one per cent to 822,000 passenger cars and commercial vehicles (Q2 2018: 833,000).

Revenue was €42.7 billion ($68.1 billion AUD), up five per cent and was also adjusted for positive exchange-rate changes.

Daimler Group posted a second-quarter EBIT of minus €1.6 billion / $2.5 billion AUD (Q2 2018: plus €2.6 billion / $4.1 billion AUD).

“Our second quarter results were mainly impacted by exceptional items of 4.2 billion euros,” said Chairman of the Board of Management of Daimler AG and Head of Mercedes-Benz Cars, Ola Källenius.

“Therefore, our focus for the second half of this year is on improving our operating performance and cash-flow generation. In general, we are intensifying the Group-wide performance programs and reviewing our product portfolio in order to safeguard future success. At the same time, we are continuing consistently our company transformation.”

Divisional results for Daimler Trucks showed an increase in unit sales of two per cent to 126,474 vehicles in the second quarter (Q2 2018: 123,910). Revenue increased by 14 per cent to €10.5 billion / $17.6 billion AUD (Q2 2018: €9.2 billion / $14.6 billion AUD). EBIT was up 33 per cent to €725 million / $1.1 billion AUD (Q2 2018: €546 million / $871.9 million AUD) and return on sales was 6.9 per cent (Q2 2018: 5.9 per cent).

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