Daimler with a warning on profits, Daimler shares collapse

The Daimler automaker's stock chart shows, given the costs of the diesel scandal, that annual results are lower than expected. The group lowered its expectations for 2018 on Friday and called for several reasons. The third quarter had clearly missed expectations, it was said. However, "decisive" is "an increase in planned expenditure in relation to the current administrative procedures and the measures in force in various regions concerning Mercedes-Benz diesel vehicles".

Investors reacted unsteadily. The share of the Daimler stock market chart showed that after the warning on profits, about 7% after. With that, they fell to the lowest level since July 2013.

Daimler announced in Stuttgart that the profit before taxes and interest would remain "well below the level of the previous year". The consolidated result will also be "substantially" below the level of 2017. Last year, Daimler had sold more vehicles than ever before, with profits up 24% to 10.9 billion euros before taxes and interests of 14.7 billion euros.

Profit well below the level expected in the previous year

The decline in sales of the automaker also explains by the delays in delivery in the Vans division of Mercedes-Benz, the decline in the bus demand of the group and the provision for risk in case of eventual conversion certain vehicles ", which always retain the refrigerant used previously. R134a are equipped.

In early October, the European Court of Justice ruled that the federal government had reacted too late to Daimler's non-compliance with the EU's air-conditioning directive. In the diesel scandal, the federal government ordered the official recall of several diesel models, which involved 238,000 vehicles in Germany and 774,000 in Europe. Daimler announced that he would cooperate with the authorities.

la / dpa / Reuters