Strong Performance in June: Daimler stirs up hope

A surprisingly robust business development in the second quarter, Daimler's share price has given to the Friday boost. Your rate temporarily rose to more than

Strong Performance in June: Daimler stirs up hope

A surprisingly robust business development in the second quarter, Daimler's share price has given to the Friday boost. Your rate temporarily rose to more than four percent to almost 40 Euro. "The strong Performance in June," on the Daimler took off, showed the Volkswagen group in its sales figures, so that the price of the VW shares rose more than 3 percent to 146,60 Euro.

Susanne Preuß

business correspondent in Stuttgart, Germany.

F. A. Z. Twitter

the Corona has brought crisis, through the many weeks of factories, such as car dealerships have closed, Daimler a-billion loss. However, this was 1.68 billion euros, before interest and tax to be significantly below the expected by the market to 2.07 billion euros. Also for the dominant Mercedes-division of the market had expected 1.4 billion euros, a significantly higher loss than the actually recorded 1.13 billion euros.

While the market with a cash outflow of EUR 2.1 billion, calculated, managed Daimler even a cash inflow of EUR 685 million in the industrial business, such as the Stuttgart-based group announced late Thursday evening. The net liquidity, which is regarded by analysts critical of, even increased in the second quarter from 9.3 to 9.5 billion euros.

Källenius writes about Threema

Shortly after the mandatory communication to the capital market turned CEO Ola Källenius with a personal message to the workforce, these Numbers are classified. Daimler got cut off due to a strong product portfolio, better than the market, he wrote in a messaging service Threema common message. "But above all, it is a hard cost measures and our effective cash flow Management, the show effect", after he pushed. At the same time, he warned that in the normal mode, but called for further efforts: "We need to bring our Break-Even point further and further down, through cost reductions and capacity adjustments."

among the measures, the demands Källenius, the Board of management, in conversation with the employee representatives, the call for, in turn, results fast. "A Team can only provide maximum performance when there are perspective and orientation. For this purpose, the Management must ensure,“ urges Michael Brecht, the General works Council, Chairman of the Daimler group. From his point of view, it is clear that the exclusion of the operation must remain redundancies until the end of 2029, there are.

DAIMLER -- -- (--) London SE Int. Level 1XetraTradegateStuttgartLang & black Switzerland OTCFrankfurtSchweiz OTCWienSchweiz 1T 1W 3M 1J type 3J 5J For detail view

"The job security is also security for the future in the event of a crisis. For such times, it was finally agreed.“ Daimler has to reduce according to previous information from staff, Board of management Wilfried Porth, the costs due to the reduction of jobs "in the five-digit range". The current severance pay programs may not be sufficient for this, possibly, Porth. Redundancies may he exclude.

Updated Date: 17 July 2020, 23:19

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