Daimler Confirms 2020 Group Sales and Revenue Will Decline

AutoInformed.com on Daimler Earnings Drop

Daimler’s full quarterly results will be published on 29 April 29 2020.

Given the continuing effects of the COVID-19 pandemic, Daimler’s Board of Management confirms in a preemptive regulatory filing that its original forecast for the financial year 2020, as disclosed in connection with annual report 2019, is no longer valid.

“The effect of the COVID-19 pandemic on customer demand, supply chains and vehicle production cannot be assessed with the usual degree of detail and certainty, making the re-evaluation of the forecast for the fiscal year 2020 complex.

“However, we do now expect the Group’s total unit sales for 2020 to be below the prior year, with lower unit sales at each of Mercedes-Benz Cars, Mercedes-Benz Vans, Daimler Trucks and Daimler Buses. For Daimler Mobility we expect for the financial year 2020 a lower new business volume than in 2019,” Daimler just said in a statement.

Preliminary figures for the first quarter 2020 are in line with earlier warnings:

  • Daimler Group EBIT: 617mn EUR (Q1-19: 2,798mn EUR).
  • adjusted EBIT 719mn EUR (Q1-19: 2,310mn EUR).
  • Trend as communicated: margin positive
  • Mercedes-Benz Cars & Vans EBIT: 510mn EUR (Q1-19: 1,143mn EUR).
  • adjusted EBIT:603mn EUR (Q1-19: 1,372mn EUR).
  • Trend as communicated: margin positive
  • Daimler Trucks & Buses EBIT: 247mn EUR (Q1-19: 553mn EUR).
  • adjusted EBIT: 247mn EUR (Q1-19: 553mn EUR).
  • Trend as communicated: margin positive
  • Daimler Mobility EBIT: 58mn EUR (Q1-19: 1,209mn EUR).
  • adjusted EBIT: 58mn EUR (including COVID-19 related provisions for credit risks of 0,4 bn EUR) (Q1-19: 491mn EUR).
  • Trend as communicated: pre-credit risk provisions margin positive
  • Net industrial liquidity: 9.3bn EUR (Q1-19: 11.0bn EUR).
  • Trend as communicated: comfortable level
  • Industrial Free Cash Flow: minus 2.3bn EUR (Q1-19: minus 2.0bn. EUR).
  • adjusted Industrial Free Cash Flow: minus 1.9bn EUR (Q1-19: minus 2,0bn EUR)
  • Trend as communicated: negative

Daimler’s full quarterly results will be published on April 29, 2020. It will give further information on the current situation and how Daimler is managing it.

About Ken Zino

Ken Zino is an auto industry veteran with global experience in print, broadcast and electronic media. He has auto testing, marketing, public relations and communications expertise garnered while working in Asia, Europe and the U.S.
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1 Response to Daimler Confirms 2020 Group Sales and Revenue Will Decline

  1. Pingback: Daimler Q1 2020 Net Profit Down -92% at €168m from €2149   | AutoInformed

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