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Daimler FY20 Preliminary Results Above Its Guidance

German auto giant Daimler AG (DDAIF.PK) Thursday reported that its preliminary Group earnings before interest and tax or EBIT for 2020 was 6.603 billion euros, compared to estimates of 5.245 billion euros.

Adjusted EBIT was 8.641 billion euros, compared to consensus of 7.120 billion euros.

Daimler will publish fourth quarter and fiscal 2019 results on February 18.

Daimler said Mercedes-Benz Cars and Vans exceeded key financial metrics of the financial year 2019.

Mercedes-Benz Cars & Vans EBIT was 5.172 billion euros, while Daimler Trucks & Buses EBIT was €525 million euros.

"Daimler completed the financial year of 2020 in a challenging environment with a very strong fourth quarter, in particular with regard to Industrial Free Cash Flow. All divisions contributed to this success. Mercedes-Benz Cars and Vans exceeded key financial metrics of the financial year 2019," the company said in a statement.

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