Daimler’s half year results

Record levels of unit sales, revenue and earnings for the first half of 2015 were reported in Daimler AG’s results for the second quarter of the year. With total sales of 714,800 passenger cars and commercial vehicles, the company sold 14% more vehicles in the months of April through June than in the second quarter of last year. Adjusted for the effects of exchange-rate changes, revenue growth amounted to 11%.

Daimler Buses’ second quarter unit sales of 7,300 buses and bus chassis were below the prior-year figure of 8,100 units. Growth in Western Europe and Turkey due to increased demand for complete buses partially compensated for the drop in sales of chassis in Latin America. The division’s revenue of €1bn/£0.71bn was at the prior-year level (Q2 2014: €1bn/£0.71bn). Its EBIT of €57m/£40.69m was higher than in the second quarter of last year (€50m/£35.69m) and its return on sales rose from 4.8% to 5.5%. The continuation of strong demand for complete buses, a favourable product mix in Western Europe, further efficiency improvements and positive exchange-rate effects more than offset the decrease in unit sales in Latin America.

Daimler anticipates a market volume for buses in Europe in 2015 that is slightly above the ‘very low level’ of the previous year. The company believes it will be able to defend its market leadership in its core markets for buses above eight tonnes. It expects to achieve full year EBIT significantly below the prior-year level.