Daimler sales rose 24 percent to 26.4 billion euros

Article by Christian A., on February 17, 2011

Daimler AG said in a recent statement that its sales rose 24 percent to EUR26.4 billion euros. The company posted earnings before interest and taxes that failed to meet estimates after boosting development spending for Mercedes-Benz cars. Its fourth-quarter operating profit of EUR1.56 billion missed the average estimate of 16 analysts surveyed by Bloomberg for a profit of EUR2.03 billion.

Mercedes’ fourth-quarter profit margin dropped to 8.3 percent from 9.5 percent in the third, as Daimler boosted Mercedes’ development spending by 15 percent to EUR3.1 billion in 2010.

In a Feb. 4, 2011 study, PricewaterhouseCoopers said tight vehicle supply is causing delivery delays in Germany, as manufacturers shift cars to China and the United States.

Juergen Pieper, a Frankfurt-based analyst with Bankhaus Metzler who has a “buy” rating on the shares, said there’s “nothing seriously wrong” but the market was just expecting more.

Daimler’s stock traded at EUR54.35 as of 11:13 a.m. in Frankfurt, valuing the carmaker at EUR57.9 billion. Previous Daimler shares had gained about 50 percent since the end of 2009. Daimler, which is also the world's largest truck maker, fell as much as EUR2.39, or 4.3 percent, to EUR53.59, the steepest decline since Jan. 20, 2011.

Topics: daimler, sales

If you liked the article, share on:

Pin It

Comments

Recommended

The recent Porsche 911 is definitely considered one of the most elite sports car to grace the roads worldwide. The task of producing its successor is challenging enough for the...
by - March 29, 2017
British startup Zenos, which entered bankruptcy administration earlier this year is now back in business. The Norfolk-based sports car manufacturer was bought by a consortium of investors headed by AC...
by - March 29, 2017
It’s quite safe to say that this generation marks the rise of the electric cars. For the past few years, automakers have been very busy trying to find the perfect...
by - March 28, 2017
Want to go for a sportier look, but don’t have enough cash to burn? Good news for future Ford Edge buyers, as the 2018 model year will have an optional...
by - March 28, 2017
Audi refreshes its portfolio as its go-faster division officially announces the release of six new RS models by the end of 2018. That’s quite a huge number of cars to...
by - March 28, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries