Daimler AG Has Net Profit €4.583 billion, Nearly Three Times Last Year

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AG has posted earnings before interest and taxes of €5.242 billion for the second quarter, compared to €2.268 billion in the second quarter of 2012. The massive result is due to the company selling €3.2 billion in shares from the European Aeronautic Defence and Space Company. Net profits were €4.583 billion, from €1.565 billion last year, and actual auto sales were up 6% to 605,800.

The massive stock sale of EADS makes it difficult to evaluate Daimler’s second quarter financials. Daimler revenue for the second quarter was €29.7 billion, compared to €28.9 billion in the second quarter of 2012.

Daimler expects that earnings will continue to grow in the second half of the year.

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set a new record for unit sales in the second quarter with 404,700 cars sold, up 9%. Revenue was up 6% to €16.3 billion. Earnings before interest and taxes was €1.041 billion, which is down from last year’s EBIT of €1.337 billion.

Daimler Trucks  sold 123,800 trucks in the second quarter, up 1%. Earnings before tax and interest was €434 million, down from €524 million from Q2 2012.

Mercedes-Benz Vans sold 69,400 cars, up from 69,300 in Q2 2012. It has earnings before tax and interest of €204 million, from €200 million in Q2 2012.

Daimler Buses sold 7,900 units, down from 8,400 units in Q2 2012. Earnings before taxes and interest was €27 million, compared to a loss of €59 million in Q2 2012.

Daimler AG is expecting that world demand in auto sales will grow by 2% to 4% this year, primarily in the United States and China. It believes that demand in Western Europe has reached its lowest point and will begin to grow again.