Stuttgart, Germany -Favourable sales momentum at Mercedes-Benz Cars driven by all major regions, especially China, strongly supported the product mix and pricing in the first quarter 2021. Daimler was able to benefit from this development thanks to convincing product substance combined with significant fixed cost reductions.
Daimler Group EBIT, Mercedes-Benz Cars & Vans adjusted EBIT, Daimler Trucks & Buses Return on Sales (RoS) adjusted, Daimler Mobility adjusted EBIT and Daimler's Industrial Free Cash Flow for the first quarter of 2021 are all significantly above market expectations.
In addition to the underlying operating performance effective Working Capital Management delivered better than expected Industrial Free Cash Flow in Q1 2021 including the net of expenses for legal proceedings, expenses for restructuring and income from M&A transactions.
'We continue to execute on our ambitions in a very encouraging market environment. Our pipeline with high-tech luxury EVs is packed. The launch of the EQS is just the start. Our systematic efforts to lower the breakeven point of the company are becoming increasingly visible', said Ola Kallenius, Chairman of the Board of Management of Daimler AG and of Mercedes-Benz AG.
The following stated figures for the first quarter 2021 are preliminary and unaudited:
Daimler Group
EBIT: EUR5,748 million (consensus: EUR4,964 million) adjusted EBIT: EUR4,970 million (consensus: EUR3,987 million) Industrial Free Cash Flow: EUR1,810 million (consensus: EUR1,102 million)
Industrial Free Cash Flow adjusted: EUR2,832 million (consensus: EUR1,802 million)
Net Industrial Liquidity: EUR20.1 billion (year-end 2020: EUR17.9 billion)
Mercedes-Benz Cars & Vans
EBIT: EUR4,078 million (consensus: EUR3,543 million) adjusted EBIT: EUR3,841 million (consensus: EUR3,055 million) Return on Sales (RoS) adjusted: 14.3 % (consensus: 11.7 %)
Daimler Trucks & Buses
EBIT: EUR1,041 million (consensus: EUR1,026 million) adjusted EBIT: EUR518 million (consensus: EUR488 million) Return on Sales (RoS) adjusted: 6.0 % (consensus: 5.3 %)
Daimler Mobility
EBIT: EUR744 million (consensus: EUR569 million) adjusted EBIT: EUR691 million (consensus: EUR579 million) Return on Equity (RoE) adjusted: 18.7 % (consensus: n.a.)
The preliminary results include the following adjustments affecting EBIT:
Mercedes-Benz Cars & Vans
Expenses of EUR75 million for legal proceedings
Expenses of EUR292 million for restructuring
Income of EUR604 million from M&A transactions (completion of cellcentric JV)
Daimler Trucks & Buses
Expenses of EUR88 million for restructuring
Income of EUR611 million from M&A transactions (completion of cellcentric JV)
Daimler Mobility
Expenses of EUR36 million for restructuring Income of EUR89 million from M&A transactions The full quarterly results will be published on April 23rd, 2021.
EBIT, adjusted EBIT, Return on Sales (RoS) adjusted, Return on Equity (RoE) adjusted, Industrial Free Cash Flow and Industrial Free Cash Flow adjusted are defined on pp. 43 and 44 of the Daimler Annual Report 2020.
Press Contact
Jorg Howe
joerg.howe@daimler.com
Head of Global Communications
joerg.howe@daimler.com
Tel: +49 711 17-41341
Fax: +49 711 17-41369
Twitter:
https://twitter.com/joerg_howe
Hendrik Sackmann
hendrik.sackmann@daimler.com
Head of Finance and Strategy Communications
hendrik.sackmann@daimler.com
Tel: +49 711 17-35014
Fax: +49 711 17-79064268
LinkedIn:
Hendrik Sackmann
Twitter:
https://twitter.com/@der_sackmann
Matthias Krust
matthias.krust@daimler.com
Manager Finance and Strategy Communications
matthias.krust@daimler.com
Tel: +49 160 8653505
LinkedIn:
Matthias Krust