Daimler Q1 figures
At Group level, Daimler AG has reported record levels of unit sales and revenue and significantly increased earnings in the first quarter of 2015. It sold 13% more vehicles than in the first quarter of last year, with revenue of €34.2bn/£24.48bn, which is 16% above the figure for the prior year period. Adjusted for the effects of exchange-rate changes, revenue growth amounted to 9%. The Group achieved EBIT of €2,906m/£2,080.45m (Q1 2014: €1,787m/£1,279.313).
Sales by Daimler Buses of 5,700 buses and bus chassis in the first quarter of 2015 were significantly below the unusually high prior-year number of 6,700 units. This decrease was mainly caused by the weaker business with bus chassis in Latin America, which was not offset by the continued good demand for complete buses in Western Europe and Turkey. Due to the stronger increase in sales of complete buses, revenue of €877m was slightly higher than in the exceptional high prior-year period (Q1 2014: €859m/£614.96m). EBIT amounted to €34m/£24.4m, but was below the high prior-year level of €53m/£37.95m, which it attributed to market conditions. The company said earnings in this division were ‘significantly reduced by the difficult economic situation in Brazil and the resulting decrease in demand for bus chassis’. High demand for complete buses, a positive product mix in Western Europe and positive exchange-rate effects partially offset the lower unit sales in Latin America.
Looking ahead, Daimler Buses assumes it will be able to defend its market leadership in its core markets for buses above eight tonnes with what it describes as ‘innovative and high-quality new products’. The bus division now expects its total unit sales to fall significantly for the rest of this year. A substantial decrease is anticipated in Latin America, accompanied by a stable development in Europe and rising unit sales in Mexico.