4/26, 7:34 AM (Source: TeleTrader)
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Chart for: DAIMLER AG NA O.N.

Daimler's net profit falls 9% to €2.1B in Q1

Daimler AG reported on Friday that its revenue stood at €39.7 billion in the first quarter of 2019, virtually unchanged from the same period a year ago.

The carmaker's net profit stood at €2.1 billion, marking a 9% decline from the €2.4 billion recorded in the same quarter last year and earnings per share (EPS) dropped 8% year on year to €1.96. The company's EBIT plunged 16% to €2.8 billion and sales were down 4% to 773,800 units in the three-month period, with Mercedes-Benz Cars sales falling 7% to 555,312 units.

"We cannot and will not be satisfied with this – as expected – moderate start to the year. We now have to work hard to achieve our targets for 2019. Based on our sales planning and the countermeasures we have already initiated, we are confident that we will achieve those targets," CEO Dieter Zetsche stated.

Breaking the News / NP