daimler ag- spn adr (DDAIY) Key Developments
Mercedes Benz Suspends Activities at Egyptian-German Automotive Factories; Intends to Start its Activities in Algeria
May 12 15
Mercedes Benz is suspending its activities at the Egyptian-German Automotive (EGA) factories after a decision by Mercedes Benz International in 2010 to transfer its activities to Algeria instead of Egypt. The Mercedes Benz trademark was removed from EGA factories last December. Mercedes Benz told that the company recently halted its production lines in the EGA factories. Egyptian-European partnership agreement will suspend car manufacturing in Egypt as well as the Mercedes Benz's car assembly. This was due to their achieving no further economic benefits following the reduction of customs on imported cars from the European Union (EU), which will reach zero by 2019. The decision was taken in 2010, the same time when the reduction, amounted by 10%, was applied on European cars. The cars will not be manufactured in Egypt and will be imported from abroad and this will not affect sales.
Mercedes Benz intends to start its activities in Algeria due to industrial incentives offered by the Algerian government. Moreover, the Algerian government provides the lands companies can establish factories on, and companies can own the land after a set period of time.
Mercedes Benz Reports China Sales Results for the First Fourth Months Ended April 2015
May 11 15
Mercedes Benz reported China sales results for the first fourth months ended April 2015. The company announced that it sold 105,252 Mercedes Benz vehicles in China, reflecting a year on year growth of 17.6%.
Mercedes-Benz Cars Reports Sales Results for the Month and Year-To-Date Ended April 2015
May 11 15
Mercedes-Benz Cars reported sales results for the month and year-to-date ended April 2015. For the month, the company has reported total sales were 159,021 units, an increase of 12.4% compared to 141,469 units in April 2014. Mercedes-Benz brand sales were 148,072 units, an increase of 11.3% compared to 133,077 units in April 2014. Sales of smart brand for the month of April 2015 were 10,949 units, an increase of 30.5%, compared to 8,392 units in April 2014.
For the year-to-date period ended April 2015, total sales were 617,367 units, an increase of 14.5%, compared to 539,177 units for the corresponding period of 2014.
Daimler AG Collaborates with Linde and Total to Open Motorway Hydrogen Filling Station
May 7 15
Daimler AG announced that it has collaborated with Linde and Total to open Germany's first motorway hydrogen filling station at a service area in Geiselwind on the A3 between Wurzburg and Nuremberg. The filling station links present filling facilities in the metropolitan regions of Frankfurt/Main, Stuttgart and Munich with each other, forming a hub for electric fuel cell vehicles in southern Germany.
Daimler AG Announces Earnings and Production Results for the First Quarter of 2015; Provides Earnings and Production Guidance for the Full Year of 2015
Apr 28 15
Daimler AG announced earnings and production results for the first quarter of 2015. For the quarter, the company reported revenue of EUR 34,236 million against EUR 29,457 million a year ago. EBIT as reported was EUR 2,906 million against EUR 1,787 million a year ago. EBIT from ongoing business was EUR 2,930 million against EUR 2,072 million a year ago. Net profit was EUR 2,050 million against EUR 1,086 million a year ago. EPS was EUR 1.83 against EUR 0.96 a year ago. Free cash flow was EUR 2,292 million against EUR 694 million a year ago. Net profit attributable to the shareholders of Daimler AG amounts to EUR 1,963 million against EUR 1,027 million a year ago.
For the quarter, the group has sold 641,614 units against 565,799 units a year ago.
For the year of 2015, EBIT from ongoing business is expected to be significantly higher than in previous year. The company assumes that group revenue will increase significantly in 2015. In regional terms, the strongest growth is anticipated in Asia and North America, but business volumes should expand also in the other regions. The company expects a free cash flow from the industrial business in a significantly higher amount than the dividend payment in 2015 of EUR 2.6 billion.
For 2015, the company expects production volumes will continue rising.