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:

Comments

Recommended

After the highly dynamic Polestar 1 two-door coupe – Polestar’s first ever production car -- was recently unveiled, not a few people’s curiosity was piqued as to how much they...
by - October 21, 2017
The BMW 7 Series is already highly sought after but nonetheless, the German marque is giving it a more exclusive variant for the Russian market, and they are calling it...
by - October 20, 2017
Several automakers including Porsche, Volkswagen, Smart and even Land Rover have all been victimized by cheap Chinese copycats. And if you haven’t seen it yet, the most recent one would...
by - October 20, 2017
The Mercedes-Benz G-Class has been around for quite some time now but to bid it farewell, the company has launched the Mercedes-AMG G65 Final Edition. Mercedes will only build a...
by - October 20, 2017
Have you ever wondered what you can you buy with $9,365 in your pocket? Well, you have quite a lot of options. In fact, you can even purchase a used...
by - October 20, 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