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Daimler Q2 EBIT €2.6 billion

Staff Writer | July 26, 2018
Daimler continued its growth in the second quarter of 2018 and once again increased its total unit sales compared with the same quarter of the previous year.
Daimler   Daimler continued its growth
In the months of April through June, Daimler sold a total of 833,000 cars and commercial vehicles worldwide, which is 1% more than in the prior-year period (Q2 2017: 822,500).

This development was primarily driven by Mercedes-Benz Vans, with a new second-quarter record of 110,900 units sold, and by Daimler Trucks. Group revenue amounted to €40.8 billion in the second quarter of this year (Q2 2017: €41.2 billion). Adjusted for exchange-rate effects, revenue increased by 2%.

The Daimler Group achieved second-quarter EBIT of €2,640 million in 2018, which is significantly below its prior-year earnings of €3,747 million.

Net profit of €1,825 million for the second quarter of 2018 was significantly below the prior-year figure of €2,512 million. Net profit attributable to the shareholders of Daimler AG amounts to €1,726 million (Q2 2017: €2,444 million), representing a decrease in earnings per share to €1.61 (Q2 2017: €2.28).

The Mercedes-Benz Cars division was not able to achieve its earnings of the prior-year quarter due to a temporarily weaker pricing including tariffs.

In the first six months of 2018, the free cash flow of the industrial business amounted to €1.8 billion (Q1-2 2017: €3.0 billion). This decrease resulted primarily from the development of working capital and the general business performance.

Compared with December 31, 2017, the net liquidity of the industrial business decreased by €2.1 billion to €14.5 billion.

The dividend payment to shareholders of Daimler AG led to a decrease in net liquidity that was only partially offset by the positive free cash flow and positive exchange-rate effects.