Daimler Expects Group EBIT For Q2 Sharply Below Market View

Daimler AG (DDAIF.PK) reported Group EBIT for the second quarter 2019 significantly below market expectations. Group EBIT was minus EUR 1.6 billion, versus EUR 2.6
billion in the year-ago quarter.

EBIT for the Mercedes-Benz Cars division amounted minus EUR 0.7 billion, Daimler Trucks was EUR 0.7 billion, Mercedes-Benz Vans was minus EUR 2.0 billion, Daimler Buses was EUR 0.1 billion and Daimler Financial Services division totaled EUR 0.4 billion.

Daimler noted that EBIT was impacted by revised risk assessment with regard to provisions for an extended recall related to Takata airbags. EBIT was also impacted by a reassessment made in connection with ongoing governmental and court proceedings and measures relating to Mercedes-Benz Diesel vehicles.

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