Strong first quarter: Daimler increases Group EBIT to €2.1 billion

Daimler AG (stock-market symbol DAI) achieved EBIT of €2,130 million in the first quarter of 2012, which is slightly higher than the high prior-year level (Q1 2011: €2,031 million). Net profit increased by 20% to €1,416 million (Q1 2011: €1,180 million) and earnings per share rose to €1.25 from €0.99 in the first quarter of 2011.

"We have started the year with a strong first quarter. Despite higher investment in future growth and a challenging market environment, we succeeded in surpassing the very good prior-year results in terms of unit sales, revenue, EBIT and net profit," stated Dr. Dieter Zetsche, Chairman of the Board of Management of Daimler AG and Head of Mercedes-Benz Cars. "We are on schedule to meet our targets for this year as well as our medium-term targets."

The development of earnings is primarily a reflection of the ongoing growth of unit sales at Mercedes-Benz Cars and Daimler Trucks. There were opposing, negative effects on earnings mainly in connection with the expansion of the product portfolio, including the current product offensive at Daimler Trucks. Exchange-rate movements had a positive effect on earnings.

The decision to reposition the European business of Daimler Buses resulted in charges of €36 million.

The special items affecting EBIT in the first quarters of 2012 and 2011 are shown in the table on page 9.

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