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Stuttgart / Thomas Veitinger
27.07.2018
The car manufacturer is fighting on many construction sites. In the second quarter, profits fell by almost 30%.
Daimler's difficulties increase. "The automotive industry and therefore we have a lot of problems to master," Dieter Zetsche said Thursday during a conference call. Other cheap cars were sold due to delivery problems. Deliveries were delayed by the WLTP mbad emission test. Expenditures for diesel software upgrades and a US supplier fire with badociated production losses are additional reasons for lower numbers. In conclusion, revenues decreased by almost 30% in the second quarter compared to the same period last year.
"The second quarter was marked by many external factors that had a significant impact on our results," added Bodo Uebber. In China, for example, higher discounts had to be granted because customers used declining rates for cars coming from Europe to negotiate their prices with dealers . "Our results and good liquidity and financial position continue to allow us to invest in the future and new technologies," Uebber said optimistically. "The fact that customers are being offered cheaper models because the more expensive ones can not be delivered is only a temporary problem," Zetsche said. "It will dissolve again." Only in the fourth quarter should return improvement the arrears should then be treated, said Zetsche. Profit forecasts for 2018 correct Daimler down sales and sales are expected to increase slightly
Difficult quarter for Daimler
Jose Asumendi, an badyst at US bank JP Morgan, said in a first badessment of a difficult quarter for Daimler. On the stock market, however, the weakest numbers barely had an impact as the lightening outweighed the settlement of the trade dispute between the United States and the United States. 39, European Union. Threatening US fares on cars are at the moment of the table. They had just heavily overloaded the German car industry.
Last year, Daimler shone with record number but problems worsened last. "The headwind is huge," Zetsche said. But you are moving forward. Daimler invests not only in the development of electric cars and autonomous driving, but also in alternative mobility concepts – such as carpooling and car sharing.
In addition, the group wants a new organizational structure Change of the mobility industry and the badociated strategic challenges " said the boss of the supervisory board Manfred Bischoff. a year ago, portfolio company considerations were presented, under the supervision of Daimler AG the Mercedes-Benz (Auto), Truck (Truck and Bus) and Mobility (Financial Services) divisions could operate more autonomous and more flexible from 2020, the Management Board and the Supervisory Board resolved Thursday.But the last word will come from the shareholders next May.It should not happen to a sale of a division, said Zetsche. Employees in Germany pledged to guarantee their employment at least until the end of 2029.
The Executive Board and the Company Committee had also negotiated the conciliation of interests s with employees during the restructuring a year ago. The agreements are unique in Germany said managing director Michael Brecht. In addition to the guarantee of employment and the continuation of profit-sharing by 2025 it is important that the employees be allowed to have their say in the investments and to question product or to buy. In addition, Daimler has promised investments in German sites of 35 billion euros. Among other things, battery factories will be built at headquarters in Untertürkheim and Sindelfingen.
Zetsche sees a problem with the supply of batteries for the electric drive. "The automotive industry is not entirely innocent, it suddenly needs more batteries."
Success and Failure in Every Field
Group Profit before Interest and Taxes in the Second Quarter compared with the same quarter of the previous year from 3 75 to 2.64 billion euros. At 1.83 billion euros, consolidated net income is significantly lower than the 2.51 billion euros recorded in 2017. At 40.8 billion euros, sales remain roughly unchanged .
Collaborators Number of employees rose from 290,800 to 300,700.
Mercedes-Benz Cars With 590,700 cars sold, the level of 39 previous year was narrowly missed. In Germany, sales fell by 4%, while the largest market in China hit a sales record of 11%. Revenue and sales declined
Trucks Truck sales rose 6% to 123,900. Revenues increased by 546 million euros compared to the year former. In the region of Nafta, vehicles are sold at the end of the year
Vans With 110,900 units, sales reached a record level. However, the change in the segment's leading product model, the Sprinter, weighed on earnings, which went from 349 to 152 million euros.
Buses Bus sales were 7500 from April to June Units at the level of the previous year. The result of 66 million euros could no longer reach the 78 million euros of the previous year
Financial Services With 501,000 new contracts of leasing and financing, the division remains at its level the previous year. vt
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