Daimler's industrial free cash flow in the third quarter 2014 is significantly higher than in prior-year period. The divisions achieve significantly higher EBIT from ongoing business.
STUTTGART, Germany, Oct. 14, 2014 /PRNewswire/ --
- Free cash flow of industrial business in third quarter excluding effects of acquisitions and disposals of approximately €2.9 billion (Q3 2013: approx. €1.6 billion)
- Free cash flow of industrial business in third quarter of approximately €5.4 billion (Q3 2013: approx. €1.6 billion)
- Mercedes-Benz Cars posts third-quarter EBIT from ongoing business of approximately €1.6 billion (Q3 2013: approx. €1.3 billion)
- Daimler Trucks posts third-quarter EBIT from ongoing business of approximately €0.6 billion (Q3 2013: approx. €0.5 billion)
- Daimler reviews guidance for free cash flow of industrial business for full-year 2014
- Unchanged outlook for EBIT from ongoing business of individual divisions for full-year 2014
Daimler AG (stock-exchange symbol DAI) achieved a free cash flow in its industrial business of approximately €5.4 billion in the third quarter of 2014 (Q3 2013: approximately €1.6 billion). Excluding the effects of acquisitions and disposals, the free cash flow of the industrial business amounted to approximately €2.9 billion in the third quarter
(Q3 2013: approximately €1.6 billon).
The divisions posted the following earnings before interest and taxes (EBIT) from the ongoing business in the third quarter:
- Mercedes-Bens Cars €1,614 million (Q3 2013: €1,251 million)
- Daimler Trucks €618 million (Q3 2013: €530 million)
- Mercedes-Benz Vans €176 million (Q3 2013: €152 million)
- Daimler Buses €64 million (Q3 2013: €61 million)
- Daimler Financial Services €355 million (Q3 2013: €322 million)
Daimler is reviewing its guidance for the free cash flow of its industrial business excluding the effects of acquisitions and disposals for full-year 2014. Hitherto, Daimler had assumed that the free cash flow of the industrial business adjusted for the effects of acquisitions and disposals would probably be significantly lower in 2014 than in the previous year.
The individual divisions continue to aim for the following EBIT from the ongoing business in full-year 2014:
- Mercedes-Benz Cars: significantly above the prior-year level,
- Daimler Trucks: significantly above the prior-year level,
- Mercedes-Benz Vans: at the prior-year level,
- Daimler Buses: significantly above the prior-year level, and
- Daimler Financial Services: slightly above the prior-year level.
Daimler will publish further details of its business development in the third quarter of 2014 on October 23, 2014.
Further information from Daimler is available at:
www.media.daimler.com and www.daimler.com
Forward-looking statements:
This document contains forward-looking statements that reflect our current views about future events. The words "anticipate," "assume," "believe," "estimate," "expect," "intend," "may," "can," "could," "plan," "project," "should" and similar expressions are used to identify forward-looking statements. These statements are subject to many risks and uncertainties, including an adverse development of global economic conditions, in particular a decline of demand in our most important markets; a worsening of the sovereign-debt crisis in the euro zone; an increase in political tension in Eastern Europe; a deterioration of our refinancing possibilities on the credit and financial markets; events of force majeure including natural disasters, acts of terrorism, political unrest, industrial accidents and their effects on our sales, purchasing, production or financial services activities; changes in currency exchange rates; a shift in consumer preferences towards smaller, lower-margin vehicles; a possible lack of acceptance of our products or services which limits our ability to achieve prices and adequately utilize our production capacities; price increases for fuel or raw materials; disruption of production due to shortages of materials, labor strikes or supplier insolvencies; a decline in resale prices of used vehicles; the effective implementation of cost-reduction and efficiency-optimization measures; the business outlook for companies in which we hold a significant equity interest; the successful implementation of strategic cooperations and joint ventures; changes in laws, regulations and government policies, particularly those relating to vehicle emissions, fuel economy and safety; the resolution of pending government investigations and the conclusion of pending or threatened future legal proceedings; and other risks and uncertainties, some of which we describe under the heading "Risk and Opportunity Report" in the current Annual Report. If any of these risks and uncertainties materializes or if the assumptions underlying any of our forward-looking statements prove to be incorrect, the actual results may be materially different from those we express or imply by such statements. We do not intend or assume any obligation to update these forward-looking statements since they are based solely on the circumstances at the date of publication.
About Daimler
Daimler AG is one of the world's most successful automotive companies. With its divisions Mercedes-Benz Cars, Daimler Trucks, Mercedes-Benz Vans, Daimler Buses and Daimler Financial Services, the Daimler Group is one of the biggest producers of premium cars and the world's biggest manufacturer of commercial vehicles with a global reach. Daimler Financial Services provides financing, leasing, fleet management, insurance and innovative mobility services. The company's founders, Gottlieb Daimler and Carl Benz, made history with the invention of the automobile in the year 1886. As a pioneer of automotive engineering, Daimler continues to shape the future of mobility today: The Group's focus is on innovative and green technologies as well as on safe and superior automobiles that appeal to and fascinate its customers. For many years now, Daimler has been investing continually in the development of alternative drive systems with the goal of making emission-free driving possible in the long term. So in addition to vehicles with hybrid drive, Daimler now has the broadest range of locally emission-free electric vehicles powered by batteries and fuel cells. This is just one example of how Daimler willingly accepts the challenge of meeting its responsibility towards society and the environment. Daimler sells its vehicles and services in nearly all the countries of the world and has production facilities on five continents. Its current brand portfolio includes, in addition to the world's most valuable premium automotive brand, Mercedes-Benz, the brands smart, Freightliner, Western Star, BharatBenz, Fuso, Setra and Thomas Built Buses. The company is listed on the stock exchanges of Frankfurt and Stuttgart (stock exchange symbol DAI). In 2013, the Group sold 2.35 million vehicles and employed a workforce of 274,616 people; revenue totaled €118.0 billion and EBIT amounted to €10.8 billion.
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SOURCE Daimler Corporate Communications
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