Daimler reaffirmed it would earn more than $3.14 billion of operating profit this year

Article by Christian A., on August 29, 2010

The operating profit of Daimler AG this year would amount to over 2.3 billion euros ($3.14 billion) this year, with all divisions returning to the black. This means that Daimler would be able to pay a dividend again.

After having had a nearly 27% increase in sales of Mercedes-Benz brand luxury cars, Daimler revealed last Wednesday that its retail volumes would rise faster than those for the overall industry.

In a statement made before the annual general meeting, CEO Dieter Zetsche said that it has plans to expand at about double the rate of the global passenger car market in 2010.

It's probable that Zetsche will be reprimanded by shareholders during the general meeting for his decision to omit a payout for the first time in 14 years.

On the other hand, Zetsche has promised to distribute a dividend for 2010 equivalent to about 40% of the group's net profit.

Last week, Daimler entered a cross-shareholding agreement with Renault SA and Nissan Motor Co., strengthening a strategic partnership that will extend from small cars through light commercial vehicles to sharing technology for internal combustion and electric powertrains.

Topics: daimler, profit

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