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(Reuters) -Mercedes-Benz maker Daimler AG on Thursday reported preliminary adjusted group earnings before interest and tax (EBIT) of 5.42 billion euros ($6.42 billion) for the second quarter, with car and truck divisions beating analyst targets. Mercedes-Benz Car and Van results were helped by pricing and cost discipline, helping to offset any impact from a global shortage of semiconductors. Adjusted EBIT for Mercedes-Benz cars and vans was 3.60 billion euros, versus consensus of 3.1 billion euros, it said. Adjusted EBIT for Daimler trucks and buses was 831 million euros, versus consensus of 680 million euros, the company said in a statement. Daimler Trucks & Buses sales increased in almost all regions due to improved market conditions, which translated into higher profitability in the second quarter. In addition, the Daimler Trucks & Buses EBIT benefited from strong pricing, higher after sales business and positive, non-recurring valuation effects of around 100 million euros
Preliminary Q2 2021 results above market expectations despite semiconductor shortage
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STUTTGART, Germany, July 14, 2021 /PRNewswire/ Mercedes-Benz Cars & Vans achieved strong results in the second quarter thanks to convincing products, favorable product mix, pricing and ongoing cost discipline. This was despite negative effects from the very limited availability of semiconductor components. Daimler Trucks & Buses sales increased in almost all regions due to improved market conditions, which translated into higher profitability in the second quarter. In addition, the Daimler Trucks & Buses EBIT benefitted from strong pricing, higher aftersales business and positive, non-recurring valuation effects of around one hundred million euros. EBIT at Daimler Mobility benefitted from low cost of credit risk, a credit provision release of €120 million and improved funding costs.
Daimler Says Q2 Group EBIT Significantly Above Market View
BERLIN (dpa-AFX) - Daimler Group EBIT, Mercedes-Benz Cars & Vans adjusted EBIT, Daimler Trucks & Buses Return on Sales adjusted, Daimler Trucks & Buses adjusted EBIT, Daimler Mobility adjusted EBIT and Daimler s Industrial Free Cash Flow for the second quarter of 2021 were all significantly above market expectations, German automaker Daimler AG (DDAIF.PK) said in a statement.
Daimler s preliminary group EBIT for the second-quarter was 5.19 billion euros compared to the consensus of 4.12 billion euros. Quarterly adjusted EBIT was 5.42 billion euros compared to consensus of 4.29 billion euros.
Mercedes-Benz Cars & Vans quarterly adjusted EBIT was 3.60 billion euros compared to consensus of 3.07 billion euros.