Daimler posts record results, though bus division sees small decreases

News stories are free to read. Click here for full access to all the features, articles and archive from only £8.99.

In its 2017 financial results, Daimler stated it has achieved record levels of unit sales, revenue, Group EBIT and net profit.

Total unit sales stood at 3.3 million, an increase of 9%, with group revenue increasing by 7% to €164.3bn. Net profit increased by 24% to €10.9bn, while group EBIT increased by 14% to €14.7bn. Daimler proposed its highest ever dividend of €3.65 per share.

“The Daimler workforce has once again succeeded in breaking the records set in the previous year,” said Dieter Zetsche, Chairman of the Board of Management of Daimler AG and Head of Mercedes-Benz Cars.

“Our company stands for stable success in volatile times. But: stability is no justification for still stand. That’s why we are pushing forward with the transformation in all areas at Daimler.”

Daimler Buses sold 28,700 buses and bus chassis worldwide in financial year 2017 (2016: 26,200). The group attributed the significant increase to the gradual recovery of the economy in Brazil. It also said sales of complete buses in the EU30 region (European Union, Switzerland and Norway) were at the same high level as in the prior year. Revenue grew by 4% to €4.4bn, though the division’s EBIT of €243m was lower than the previous year (2016: €249m). Return on sales decreased slightly to 5.6% (2016: 6.0%). Daimler said further efficiency enhancements and higher unit sales in Latin America ‘almost offset’ inflation-related cost increases in Latin America and negative exchange-rate effects.