Daimler's 2019 revenue at €172.7B, up 3% from 2018

Tuesday, 11. February 2020 07:36

Daimler AG announced on Tuesday that its revenue totaled €172.7 billion in the full fiscal 2019, representing an increase of 3% compared to the previous year.

Net profit amounted to €2.7 billion in 2019, declining by 64% in comparison to results from 2018. Earnings per share dropped 67% from €6.78 recorded in 2018 to €2.22 in 2019. Earnings before interest and taxes (EBIT) fell by 61%, landing at €4.3 billion in 2019. Total unit sales stood at 3.34 million, while in 2018, they amounted to 3.35 million.

The company's revenue totaled €47.1 billion in the fourth quarter of fiscal 2019, representing an increase of 1% on an annual basis. EBIT amounted to €388 million in the fourth three-month period in 2019, plunging 85% from the same trimester last year. Loss per share stood at $0.10, down from earnings per share of €1.46 recorded in the fourth quarter of 2018, while net loss landed at €11 million, plummeting from a net profit of €1.6 billion from the same three-month period in 2018. Unit sales lost 1% year-on-year to stand at 910,163 in Q4 2019.

Chairman of the Board of Management Ola Kaellenius stated in the press release: "We are determined to materialize our technological leadership and at the same time to significantly improve profitability. To this end, measures to cut costs and to increase cash flows are necessary. In 2019, we defined them and we have started executing. We will take the necessary actions to enhance our financial strength as the basis for our future strategy."

Related Links: Daimler AG
Author:
Breaking the News / MS