The automaker Daimler has almost doubled its profit in the first quarter of the year, almost. One reason for this was real estate sales – the stock is still rising.
Daimler-Star
Wednesday, 12.04.2017
08:03 clock
Not all figures from the first quarterly report are yet to be published, but one thing is certain: Daimler has almost doubled its operating profit in the first three months of the year. Earnings before interest and taxes (Ebit) were located at 4.01 billion euros, said the Stuttgart-based company. Compared to the same period of the previous year, it was still significantly lower at 2.15 billion euros.
Analysts had expected for the now past quarter, although an increase, with an average of just over 3.1 billion euros, the estimates were much more cautious.
According to the group, the most important subsidiary, Mercedes-Benz Cars, contributed to the jump in profits. The return was 9.8 percent and thus close to the medium-term target of ten percent. But the lorry division also recovered significantly. Overall, the profit increase was 86 percent. However, the first quarter of 2016 was also surprisingly weak.
Accordingly, a positive valuation effect in connection with the participation in the map service Here also had an impact on the balance sheet. In addition, real estate sales of the Japanese lorry subsidiary Mitsubishi Fuso were among the winners in the past quarter.
Daimler had already in the past week announced a sales record for the first quarter, One of the racers was the new E-Class. Full quarterly results are expected to be released on April 26.
Investors were obviously very pleased with the news. In pre-trade trading at Tradegate, the price of the Daimler share increased by almost 3.5 percent.