24.7.2020 Stuttgart. (Stock Exchange abbreviation: DAI) Daimler AG, which ended its second quarter results published yesterday. June 2020 was completed. Corona strong indicators of passenger cars, vans, trucks and buses for demand-and the resulting epidemic decline is affected by:
The group’s sales by 34% 541.800 (S2 2019: 821.700) for passenger cars and commercial vehicles decreased. Sales of 29% at a rate of (S2 2019: 42, 7 million EURO) decreased with 30.2 billion euros. The profit before interest and tax 1.682 (S2 2019: 1.558 minus) minus million euro respectively. The adjusted profit before interest and tax and reflects the ongoing work 708 (S2 2019: 2.447 plus) amounted to a minus million euro. The consolidated result of € 1.242 EUR 1.906 (S2 2019: minus) minus million, respectively. Free cash flow industrial business net liquidity industrial business solid quarter, and compared to the first quarter remained at the level of the year 2020.
Due to unprecedented pandemic covid 19 Daimler AG and Mercedes Ola Kallenius to the Board, Chairman-Benz AG: “we had a challenging quarter. The net liquidity of the industrial business but is evidence of effective cost control and effective cash management, need to force. Now we are seeing the first signs of a sales recovery, especially strong demand for electric vehicles and where we see the top models of Mercedes-Benz passenger cars, in the case of. We are committed to improve our company’s cost base with a view to the future. At the same time, we are pursuing our key strategic objectives: we want to be a leader in Electrical and digitization.“
On a positive note after starting the world economy, a year in the world economic activity measures to temporarily stop COVID-19, and brought against the outbreak. Daimler is low or demand for March, April and may short work of the month of production cuts in met. To ensure the financial strength of the company, the most important spending on future projects and investment-oriented limits.
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Continuous working capital with a view on stocks has been reduced. These measures were successful: at the end of the second quarter, the net liquidity of the industrial business Q1 2020 9,3 finally) billion € was 9.5. Free cash flow industrial business (S2 2019: 1.302 minus) 685 million euros. 778 adjusted free cash flow industrial business (S2 2019: minus amounted to 1.208 million euros. This is affected by high investments in future products.
The global impact of the epidemic, a significant decline in revenues and Mercedes-Benz cars and trucks, and buses Daimler Trucks and Daimler pioneered mobility while cost-cutting measures was eliminating the adverse effects.
Business unit in the second quarter, Mercedes-Benz passenger car and light truck sales by 30% for 480.800 (S2 2019: 686.800) of the vehicle refused. Basic Special factors, profit before interest and tax adjusted for 284 (S2 2019: Euro plus million (Q2 2019 %1.5: plus 4.5% adjusted return minus the sales) 1.148) amounted to minus. A more favorable model mix, particularly the success of the final product-oriented, contributed to the positive result.
Burdensome costs for capacity Adjustments had the effect of global production network, for example, Hambach (€687 million) and Tuscaloosa Aguascalientes, 101 million to reduce personnel costs (€) that was launched in the program. Both of these initiatives medium and long-term fixed costs are lower.
In the second quarter, sales of Daimler Trucks and buses up to 55% for 61,000 (S2 2019: 134.900) of the vehicle refused. The adjusted profit before interest and tax 747 (S2 2019: plus 834) amounted to minus Euro million (Q2 2019: %7.2), minus 12.0 % sales return set. The development of earnings was influenced by a decline powerful audio. On the other hand, a serious reduction in fixed costs also positive long-term competitiveness that will improve the result. contributed to Fortunately, in almost all of the core regions of the order you have.
In the case of Daimler Mobility, new business in the second quarter, 24% 13.3 (S2 2019: 18.4) billion€ declined. Adjusted profit before interest and tax to 313 (S2 2019: 14,0 %) 8.6% stock (S2 2019: 483) euros and adjustable rotation took place. COVID due to the economic slowdown in connection with this epidemic, and higher loan interest 19 profit before tax risk-the cost had a negative impact on. In addition, 105 million expenses (in€) profit before interest and tax by now, the group is accused in the aftermath of reorganization.
Corona in the further course of the outbreak this year will have a strong impact on the development. By 2020, a significant decline in global economic performance can be expected from today’s point of view that brings. Related to the epidemic cannot be reversed in the further course of the year drop in sales of Daimler assumes. Therefore, the efficiency and capacity intensive measures need to be taken.
Under the assumption that the economic recovery continued in the second half of the year, a new and larger COVID-infection in 19 key markets-wave, 2020 consolidated profit before interest and tax, free cash flow industrial business, Daimler attributed positive values to have both below the previous year’s level. The potential costs of this business sector with the legal and regulatory processes in free cash flow are not considered. Mercedes-Benz Cars & Vans in the profit before interest and tax, the impact of the epidemic, the previous year, the profit before interest and tax in 2019 is expected to be charged, although high, was with special effects. The adjusted return on equity Daimler Mobility are unlikely to reach the previous year’s level.
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