Daimler raises 2010 earnings forecast to over 7.0 billion euros
The manufacturer has reported net profit in Q3 of 1.6 billion euros, compared to 56 million euros for the same period last year.
Daimler also announced profits before earnings and tax of 2.4 billion euros, up from 470 million euros, and said that the result was boosted by a gain of 183 million euros that was realised upon the adjustment of health-care and pension benefits at the US subsidiary, Daimler Trucks North America.
Unit sales were up 23% in Q3 to a total of 475,100 cars and commercial vehicles worldwide.
Looking at the divisions, Mercedes-Benz Cars increased unit sales by 17% to 317,500 vehicles. Revenue rose by 33% to 13.7 billion euros. The division achieved Q3 profits before earning and tax of 1.3 billion euros, up by 944 million euros compared to the prior-year quarter.
Mercedes-Benz Vans sold a total of 53,700 vehicles in the third quarter, compared to 40,100 in Q3 2009. Revenue of 1.9 billion euros was also significantly higher than the Q3 2009 figure of 1.6 billion. The division reported an operating profit of €122 million euros (Q3 2009: 1 million euros).
Daimler has now said that it expects total unit sales and group revenue to increase significantly for the full year. Dr Dieter Zetsche, chairman of the Board of Management of Daimler AG, said: 'Of course, the world economy is not yet as stable as it was before the recession, but we are confident that we will continue to operate successfully in our markets.'