Daimler posts EBIT of minus €1,426 million in first quarter of 2009

• Net loss of €1,286 million (Q1 2008: net profit of €1,332 million)

• Revenue significantly below prior-year level at €18.7 billion

• Decreases in unit sales and revenue expected for full-year 2009

• Implementation of measures with the aim of saving €4 billion in 2009

• Gradual improvement in operating profitability expected during 2009, but renewed significant operating loss in second quarter

• Mercedes-Benz Cars expects positive earnings again in second half of this year

The global financial and economic crisis and the resulting difficult automotive markets placed a significant burden on the earnings of the Daimler Group (stock-exchange abbreviation DAI) in the first quarter of 2009.

Daimler posted EBIT of minus €1,426 million for the first quarter of 2009 (Q1 2008: plus €1,976 million).

The significant decline in earnings primarily reflects the sharp drops in unit sales at Mercedes-Benz Cars, Daimler Trucks and Mercedes-Benz Vans in the first quarter of 2009. The measures already taken mitigated the decline in earnings, but were far from sufficient to compensate for the effect of the decrease in Group revenue related to lower unit sales. Increased cost of risk at Daimler Financial Services led to a fall in that division's operating results.

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