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Daimler Fined In Administrative Offense Proceeding; Maintains Earnings Forecast

Daimler AG (DDAIF.PK) has been fined by the Stuttgart public prosecutor for violation of supervisory duties with respect to vehicle certification related to deviations from regulatory requirements in certain Mercedes-Benz vehicles. The fine is in the amount of 870 million euros. The company has refrained from taking a legal remedy against the fine notice.

Daimler AG said, for the third quarter 2019, the fine does not result in a relevant additional negative effect on earnings. The company maintained its earnings forecast.

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