2020 operating profit of around 6.6 billion euros. Complete figures are available on February 18th.
The car manufacturer Daimler made significantly more profits than expected last year. According to preliminary figures, the operating result for 2020 is around 6.6 billion euros, the group announced on Thursday evening. Daimler itself had recently assumed that it would reach roughly the level of the previous year. That would have been 4.3 billion euros. Analysts had expected more, however.
The company concluded the fiscal year with a very strong fourth quarter. In the car and van division, the key figures of the previous year were exceeded. The company benefited from both an increase in sales of electric and plug-in hybrid vehicles and a strong financial result. In the truck division, on the other hand, you can feel the recovery of the US market and in European business the positive effects of the measures for more efficiency.
“Further improve cost efficiency”
The corona crisis had pushed Daimler into the red in the second quarter. After a strong third quarter, however, the group had significantly more confidence and initially targeted the 2019 operating result as the target. However, with the aforementioned 4.3 billion euros, that was not particularly good due to the billions in diesel contaminated sites that had to be booked at the time.
“We want to further improve cost efficiency in 2021 and drive the implementation of our strategic initiatives forward,” said CEO Ola Källenius. Business is expected to develop well in the current year as well. The first quarter, however, is likely to be influenced by the current semiconductor bottlenecks and impairments caused by the corona pandemic, it said. All statements are also based on the assumption that no further lockdown effects would occur.
Daimler will present the complete figures on February 18.
