Daimler results

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Daimler results

Daimler AG achieved record levels of unit sales and revenue in 2015. During the 2015 financial year, the Group achieved its best ever EBIT of €13.5bn/£10.45bn (2014: €10.8bn/£8.36bn) and its best EBIT from the ongoing business of €13.8bn/£10.68bn (2014: €10.1bn/£7.82bn).

Despite significantly increasing total unit sales over the period, the manufacturer reported bus sales were significantly below the prior-year level despite slight growth having been expected at the beginning of the year. It said this was primarily due to the pronounced weakness of the markets for bus chassis in Latin America. Daimler Buses sold 28,100 buses and bus chassis worldwide in 2015 (2014: 33,200). Nevertheless, the division was able to maintain its leading position in its core markets for buses with a gross vehicle weight of over eight metric tonnes. Its revenue was €4.1bn/£3.17bn (2014: €4.2bn/£3.25bn) with EBIT of €214m/£165.69m, 9% above the prior year level (2014: €197m/£152.52m). Return on sales amounted to 5.2% (2014: 4.7%).

Positive effects on earnings primarily resulted from good business with complete buses, as well as further efficiency improvements. The development of earnings also benefited from positive exchange rate effects. There was an opposing impact from the continued difficult economic situation in Latin America. Earnings include a gain of €16m/£12.39m on the sale of shares in New MCI Holdings Inc. It expects buses revenue in 2016 to be of similar magnitude.

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