Car manufacturers in the crisis: Daimler-group-billion loss

The car manufacturer Daimler has not cut off in the second quarter in the Corona-crisis, despite a operational billion loss as bad as feared. The loss before in

Car manufacturers in the crisis: Daimler-group-billion loss

The car manufacturer Daimler has not cut off in the second quarter in the Corona-crisis, despite a operational billion loss as bad as feared. The loss before interest and taxes amounted to 1,68 billion euros, as the Dax group announced on Thursday evening after the close of trading on the Basis of preliminary Figures, in Stuttgart. It was only a bit more than in the previous year to 1.56 billion euros, a Minus – at that time, the group had to raise billions of hard-to-provisions for diesel contaminated sites and Takata Airbags.

analysts had expected the operating profit between April and the end of June with a higher Minus, Daimler had already announced in the red. The market recovery was sharper than intended, it was said now of the stuttgarters, in June, there was even a "strong" development. The share of the group rose after trading hours on the trading platform trade gate to a percent.

"There remains much to do,"

"But there remains much to do," said Daimler chief Ola Källenius. "We need to continue our systematic efforts to reduce the breakeven point of the company by cost reduction and capacity adjustments." Källenius has made the cost structures of the tradition, group, much, after he had taken over the helm from long-standing Daimler-Boss Dietmar Zetsche.

In the Numbers of special charges of 687 million Euro in the Car and Van were included with division, for the streamlining of production, and the caps of capacity in France, the United States and Mexico. For legal proceedings, Daimler had to spend an additional 53 million euros, the loss-making car-sharing Joint Venture Your Now with BMW required a cost of 105 million euros on special. In addition, Daimler was 129 million euros for the current austerity programme. Adjusted for these factors, the operating loss amounted to 708 million euros. The Vehicle types, with passenger Cars and Vans as well as the pressurized Truck and bus imports, respectively, in the red, the financial services were, however, some profit.

Updated Date: 17 July 2020, 04:19

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