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MarketScreener Homepage  >  Equities  >  Xetra  >  Daimler AG    DAI   DE0007100000

DAIMLER AG

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Daimler : Cooperating in German Transport Authority's Review of Emissions Software

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04/15/2019 | 06:08am EDT

By Max Bernhard

Daimler AG (DAI.XE) said Monday that it is "reviewing the facts" and cooperating with Germany's motor transport authority KBA over a possible diesel-emissions issue.

German weekly Bild am Sonntag reported Sunday that the authority found Daimler's Mercedes-Benz GLK 220 CDI models, produced between 2012 and 2015, are equipped with a previously unknown software function that could allow the cars to dodge emissions tests. KBA could therefore require Daimler to recall about 60,000 vehicles in Germany, according to the newspaper.

KBA found that the function artificially delays the heating of engine oil so that legal nitrogen-oxide targets are met on the test stand, but that the function is turned off on the road, leading to much higher emissions, Bild am Sonntag said.

According to the report, the authority also found that Daimler is deleting the software function during voluntary software updates.

Daimler said it complies with the approval process agreed upon with the KBA when implementing the service measures. "The allegation that we wanted to hide something with the voluntary service measure is incorrect," it said.

Write to Max Bernhard at max.bernhard@dowjones.com; @mxbernhard

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Financials (€)
Sales 2019 171 B
EBIT 2019 11 996 M
Net income 2019 8 213 M
Finance 2019 16 003 M
Yield 2019 5,37%
P/E ratio 2019 7,65
P/E ratio 2020 7,62
EV / Sales 2019 0,28x
EV / Sales 2020 0,27x
Capitalization 63 238 M
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Mean consensus HOLD
Number of Analysts 29
Average target price 59,6 €
Spread / Average Target 0,85%
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Dieter Zetsche Chairman-Management Board
Manfred Bischoff Chairman-Supervisory Board
Bodo Knut Uebber Chief Financial Officer
Frank Lindenberg Head-Finance & Controlling
Clemens A. H. Boersig Member-Supervisory Board
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