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Daimler almost doubles its Q1 net profit

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Daimler almost doubles its Q1 net profit

As the sales for the Mercedes-Benz brand continued to rise, the parent company, Daimler, announced first quarter revenue surged, helped by the compact cars line-up and continued growth in China and the US.

Daimler Ag sold in the first quarter of the year 565,800 cars and commercial vehicles, a 13% increase over the same period last year, with revenue increasing by the same percentage to €29.5 billion. The group’s EBIT (earnings before interest and tax) went up to €1,787 million (Q1 2013: €917 million), while net profit rose from €564 million in 2013 to €1,086 million.

“Our strategy is paying off; our investments are bearing fruit,” stated Dr. Dieter Zetsche, Daimler Ag chairman and the Mercedes-Benz CEO. “We made a good start to this year, as expected. As the year progresses, we will continue working systematically on our profitable growth path.”

“The growth offensives and efficiency programs are taking effect and will be systematically continued,” stated Bodo Uebber, Daimler’s CFO. “Due to the currently volatile environment, we are monitoring the sales and finance markets very carefully. With our liquid resources, we are well prepared for fluctuations.”

Mercedes-Benz managed to deliver in the first three months a record number of cars – up 14% to 389,500 units. The unit grew especially in China and the US, with strong sales for the S-Class and E- Class, as well as the compact car line-up.

by Aurel Niculescu (my Google+) - Wednesday, April 30th, 2014 - filed under Industry, Mercedes-Benz, News. Image credit: .
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