Hyperdrive
Daimler Sees Strong Recovery in Historic Truck Spinoff Year
- Carmaker forecasts significantly higher revenue and earnings
- Orders for flagship S-Class are 30% higher than predecessor
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Daimler AG expects significant earnings improvement this year as vaccinations accelerate and an economic recovery sustains strong demand for the maker of Mercedes-Benz luxury cars, which is preparing to spin off its trucks division.
Group sales, revenue and operating profit will be “significantly higher,” Daimler said Thursday, weeks after reporting better-than-expected preliminary results for the year. The company plans to lift the dividend to 1.35 euros from 0.90 euro last year, when the pandemic shuttered factories and carmakers conserved cash during the most challenging times in decades.