Daimler Buses improve third quarter
In the third quarter of 2013, Daimler AG achieved ‘significantly higher’ earnings than in the prior year period. The company’s EBIT for the period of July through September amounted to £1,906.4m/€2,231m (Q3 2012: £1,643.2m/€1,923m). Net profit reached £1,621m/€1,897m (Q3 2012: ￡1,057.9m/€1,238m). Earnings per share were ￡1.47/€1.72 (Q3 2012: £0.91/€1.06).
Daimler Buses increased its worldwide sales by 17% to 9,600 units in the period, primarily as a result of increased demand in western Europe and Latin America. Other factors leading to the earnings improvement were ongoing efficiency progress in the European business system and lower expenses for the repositioning of the European and American business systems. Revenue of £0.94bn/€1.1bn was up 19% than the prior year period. Third-quarter EBIT of plus £50.4m/€59m was significantly better (Q3 2012: minus ￡30.8m/€36m). The division’s return on sales increased 5.2% (Q3 2012: minus 3.8%).