Daimler Buses’ 2011 annual report revealed increased vehicle sales and investment in property, plant and equipment. However, Daimler also reports “structural shifts in unit sales had an adverse impact on revenue and earnings.”
Financial highlights included;
- Earnings before tax fell by 25% to Euro 162m (2010: Euro 215m)
- Revenue down 3% to Euro 4,418m (2010: Euro 4,558m)
- Investment up 8% to Euro 103m (2010: Euro 95m)
- Production up 3% to 40,391 units (2010: 39,405)
- Unit sales up 2% to 39,741 units (2010: 39,118)
- Employment also up by 2% to 17,495 (2010: 17,134)
The company stated higher unit sales were due to increased demand in Latin America, where tightening emission legislation saw sales increase by 8% to 25,048 from 23,215 in 2010. Daimler cited the popularity of the Mercedes- Benz chassis in Latin America and Mexico coupled with demand for complete buses in Turkey as mainc contributors to the increase in sales. However unit sales were weaker in Western Europe with a decrease of 17% to 5,943 from 7,168 in 2010.
The company also restated its commitment to hybridisation, citing its introduction of economical and low-emission BlueTec V engine technology in the Brazilian market and its continued adherence to Euro emissions standards.