DAIMLER AG: THIRD QUARTER CASH FLOW BETTER THAN MARKET EXPECTATIONS

Posted 20th October, 2009 in Daimler | Leave a comment

Stuttgart –Daimler AG (stock-exchange abbreviation DAI) today presented its preliminary figures for the third quarter of 2009. Group revenue amounted to €19.3 billion, while Group EBIT including adjustments and special items at Freightliner and Fuso amounted to €470 million; the industrial business generated a free cash flow of €2.3 billion in the first nine months of this year (Q3 2009: €2.0 billion).

Daimler

The divisions’ earnings (EBIT) were as follows:

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Mercedes-Benz Cars: €355 million
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Daimler Trucks: minus €127 million
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Mercedes-Benz Vans: €1 million
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Daimler Buses: €23 million
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Daimler Financial Services: €101 million

The industrial business generated a free cash flow of €2.3 billion in the first nine months of this year (Q3 2009: €2.0 billion). Net liquidity thus increased to approximately €6.7 billion at September 30, 2009.
The free cash flow of the industrial business in the third quarter was affected by an increase in liabilities due to the higher production volume after the production break in August, as well as positive management of accounts receivables. There was also an impact from payments within the Group that were received by the industrial business from the financial services business within the context of fiscal unities (€0.6 billion).
Daimler anticipates a positive free cash flow in the industrial business in full-year 2009.
These figures surpass analysts’ consensus estimates of which the Group is currently aware.
The Daimler Group will publish further details of its quarterly financial statements on October 27, 2009.

[Source: Daimler]