Daimler on a profitable growth track: renewed growth in unit sales, revenue and earnings in the second quarter

Stuttgart, Germany – Daimler AG (stock-exchange symbol: DAI) is continuing along its path of profitable growth. In the second quarter of 2014, the Group achieved new record levels of unit sales and revenue and significantly increased its operating profit from the ongoing business. Worldwide, 628,900 passenger cars and commercial vehicles were sold from April through June, which is 4% more than in the same period of last year. Second-quarter revenue increased by 6% to €31.5 billion. Adjusted for exchange-rate effects, revenue grew by 11%. EBIT from the ongoing business rose at a higher rate than revenue, by 12% to €2.5 billion. Net profit amounted to €2.2 billion; net profit in the prior-year quarter of €4.6 billion was positively affected by the sale of EADS shares.

"We are growing profitably, our strategy is bearing fruit," stated Dr. Dieter Zetsche, Chairman of the Board of Management of Daimler AG and Head of Mercedes-Benz Cars. "We are steadily continuing along our path. We are satisfied with the second quarter and continue to work consequently on structural improvements. Unit sales, revenue and EBIT from the ongoing business will all increase significantly in the year 2014. Supported by our product offensive and the successful continuation of our efficiency programs, we look to the future with optimism."

The significant increase in EBIT from the ongoing business in the second quarter reflects the very positive development of the divisions' unit sales and revenue, a better model mix and further efficiency gains. Exchange-rate effects once again had a negative impact on operating profit. Including special items, second-quarter EBIT amounted to €3.1 billion (Q2 2013: €5.2 billion). In the prior-year period, EBIT was boosted by approximately €3.2 billion from the remeasurement and sale of EADS shares.

"Our business situation is very positive in mid-2014," stated Bodo Uebber, member of the Board of Management of Daimler AG for Finance & Controlling and Financial Services. "With our new products and the results of operations of Mercedes-Benz Cars and Daimler Trucks, we showed in the second quarter that we are maintaining a high rate of growth while improving our profitability. In the second half of this year, EBIT from the ongoing business will be higher than in the first half. But in view of the volatile environment, we are monitoring the sales markets and financial markets very closely. With our sound capital resources, we are well prepared for fluctuations."

Compared to the prior-year period income-tax expense increased in the second quarter by €264 million to €739 million as the gain on the remeasurement and sale of the EADS shares in 2013 was largely tax free. Of the Group's net profit, an amount of €92 million was attributable to non-controlling interest for the second quarter (Q2 2013: €1,749 million). Net profit attributable to the shareholders of Daimler AG therefore amounted to €2.1 billion (Q2 2013: €2.8 billion); earnings per share reached €1.97 (Q2 2013: €2.65).

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