Daimler 2020 operating profit beats guidance, forecasts

Europe

Daimler said Thursday that a strong fourth quarter helped it post better-than-expected 2020 group operating profit and that it was optimistic for 2021.

Group earnings before interest and taxes for 2020 came to 6.6 billion euros ($8 billion), above consensus for 5.25 billion euros, the automaker said, citing preliminary figures.

“Given the development of successful cost discipline continued in the fourth quarter and expected good underlying demand, Daimler also anticipates a positive business development in 2021,” the company said.

The Stuttgart-based maker of Mercedes-Benz cars and trucks said that the current shortages in semiconductors and the COVID-19 disruptions would probably impact the first quarter.

Daimler will release complete fourth-quarter figures and more detailed 2021 guidance on Feb. 18.

Products You May Like

Articles You May Like

This Dually Dodge Challenger Could Audition For A Mad Max Film
Tesla Full Self-Driving v10 is not ‘mind-blowing,’ but it shows progress
Hyundai sees a future in hydrogen
GM takes rapid path to retool Canadian plants
Driven: The 2022 Hyundai Santa Cruz Mixes Crossover Comfort With Truck Capability

Leave a Reply

Your email address will not be published. Required fields are marked *