29. April 2020 Stuttgart
- Group unit sales of 644,300 vehicles (Q1 2019: 773,800)
- Revenue of €37.2 billion (Q1 2019: €39.7 billion)
- Group EBIT of €617 million (Q1 2019: €2,798 million)
- Group net profit of €168 million (Q1 2019: €2,149 million)
- Free cash flow of the industrial business of minus €2.3 billion (Q1 2019: minus €2.0 billion)
- Industrial net liquidity of €9.3 billion (end of 2019: €11.0 billion)
- Group unit sales, revenue and EBIT expected to be below prior-year levels in 2020
Daimler AG (ticker symbol: DAI) today reported its results for the first quarter ended March 31, 2020. The Group’s total unit sales decreased by 17% to 644,300 passenger cars and commercial vehicles (Q1 2019: 773,800) due to the global spread of the corona virus. Revenue slipped slightly by 6% to €37.2 billion (Q1 2019: €39.7 billion). First-quarter EBIT was €617 million (Q1 2019: €2,798 million). Adjusted EBIT, reflecting the underlying business, was €719 million (Q1 2019: €2,310 million).
Ola Källenius, Chairman of the Board of Management of Daimler AG and Mercedes-Benz AG: “The COVID-19 pandemic has substantial effects on the global economy – and our company. We took the proactive decision to stop production in March, and moved very quickly into cash preservation and cost management mode. As a consequence, Daimler ended the first quarter with a positive result and a robust liquidity. Now we have started with a gradual ramp-up of our production. At the same time, we are continuing to invest in key technologies, including electrification and digitalization. They are non-negotiable elements of our future.”
In the first quarter of 2020, net profit was €168 million (Q1 2019: €2,149 million). Net profit attributable to the shareholders of Daimler AG amounted to €94 million (Q1 2019: €2,095 million), leading to a decline in earnings per share to €0.09 (Q1 2019: €1.96).
