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MarketScreener Homepage  >  Equities  >  Xetra  >  Daimler AG    DAI   DE0007100000

DAIMLER AG

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Daimler plans to cut administration costs by 20%: Handelsblatt

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05/20/2019 | 02:42pm EDT
FILE PHOTO: Kaellenius, a board member of Daimler AG presents the new Mercedes GLC F-CELL during the Frankfurt Motor Show (IAA) in Frankfurt

FRANKFURT (Reuters) - Incoming Daimler boss Ola Kaellenius is working on a cost cut program to reach profit margin targets which are threatened by global trade woes and ramp up issues at factories, Handelsblatt reported, citing company sources.

Kaellenius, who will take over from Dieter Zetsche after the company's annual general meeting on May 22, has been working for months on a cost cut initiative, dubbed "Move", which is expected to be ready in the summer, the paper said.

Central administration costs are to be cut by about 20%, the paper said, adding billions of euros in efficiency potential would be targeted.

Daimler declined to comment.

Kaellenius said earlier this month that Daimler will cut development costs of new Mercedes-Benz cars by a significant amount by 2025 and will intensify alliances with rivals as a way to improve margins.

(Reporting by Christoph Steitz; editing by David Evans)

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Financials (EUR)
Sales 2019 172 B
EBIT 2019 7 053 M
Net income 2019 4 522 M
Finance 2019 458 M
Yield 2019 4,72%
P/E ratio 2019 11,4x
P/E ratio 2020 7,00x
EV / Sales2019 0,30x
EV / Sales2020 0,23x
Capitalization 51 807 M
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Mean consensus HOLD
Number of Analysts 31
Average target price 52,19  €
Last Close Price 48,43  €
Spread / Highest target 75,5%
Spread / Average Target 7,77%
Spread / Lowest Target -32,6%
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Managers
NameTitle
Ola Kaellenius Chairman-Management Board
Manfred Bischoff Chairman-Supervisory Board
Harald Wilhelm Chief Financial Officer
Clemens A. H. Boersig Member-Supervisory Board
Sari Maritta Baldauf Member-Supervisory Board
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