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In addition, the DAX group recorded a decline in profits in the heavy goods vehicle sector, although sales increased significantly. At the beginning of the year, the bus and van business even suffered a loss. Stuttgart's overall performance was justified by weak performance due to lower car sales and higher commodity prices. However, the group confirmed the outlook for this year.
The turnover in the three months according to the communication with 39.70 billion euros about the level of the previous year. Analysts were expecting sales to fall by 2%. By far the most important sector of the high-end car segment, revenues fell by 8% to 21.20 billion euros, especially in Europe, due to lower sales. On the other hand, revenues in the truck sector increased by 11%.
Operating profit (EBIT) fell 16% to 2.80 billion euros due to a large number of charges. After taxes and on third parties, Daimler made a profit of 2,095 billion euros against 2,273 billion euros during the same period of the previous year. Analysts were expecting a net profit of only 1.973 billion euros.
The outlook for the year has been confirmed by Daimler AG. As a result, sales, sales and EBIT are expected to increase slightly.
After the initial losses, the shares temporarily became a positive territory, but are currently trading at a decline of 0.43% to EUR 57.45.
By Markus Klausen
FRANKFORT (Dow Jones)
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Source of images: Daimler AG, Vladi333 / Shutterstock.com
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