Daimler's 3Q Profit Rose; Revenue Fell
October 23 2020 - 2:07AM
Dow Jones News
By Kim Richters
Daimler AG said Friday that third-quarter net profit rose while
revenue declined.
Net profit for the quarter rose to 2.05 billion euros ($2.42
billion) from EUR1.72 billion a year earlier, the German premium
car maker said.
However, revenue fell to EUR40.28 billion from EUR43.27
billion.
As reported earlier this month as preliminary figures, earnings
before interest and taxes came to EUR3.07 billion compared with
EUR2.69 billion a year earlier, while adjusted EBIT was EUR3.48
billion compared with EUR3.14 billion.
Daimler said its business profited from improving markets and
cost-saving measures, and it expects the positive development to
continue in the fourth quarter.
As for the full year, the car maker forecasts full-year group
EBIT to be at the previous year's level. Unit sales and revenue for
2020 are expected to be significantly below the previous year's
figures, Daimler said.
Write to Kim Richters at kim.richters@wsj.com
(END) Dow Jones Newswires
October 23, 2020 01:52 ET (05:52 GMT)
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