STUTTGART, Germany, April 23, 2021 /PRNewswire/ —
Strong demand: the Group sold 728,600 vehicles (Q1 2020: 644,300) Favorable product mix and pricing: revenue of €41.0 billion (Q1 2020: €37.2 billion) Bottom line multiplied: Group net profit of € 4.4 billion (Q1 2020: €0.168 billion) Well on track: strategic transformation with planned Daimler Truck spin-off and accelerated expansion of electric-vehicle line-up Divisional outlook raised: Mercedes-Benz Cars & Vans and Daimler Mobility expect higher margins in 2021
Daimler AG (ticker symbol: DAI) today reported its results for the first quarter ended March 31, 2021 and raised its outlook for the full year. The Group’s total unit sales increased by 13% to 728,600 cars and commercial vehicles (Q1 2020: 644,300) due to the recovery of the global economy combined with an attractive vehicle portfolio. Revenue rose to €41.0 billion (Q1 2020: €37.2 billion) supported by favourable product mix and pricing. The strong operating performance in the first-quarter translated into an EBIT bounce to €5,748 million (Q1 2020: €617 million). Adjusted EBIT, reflecting the underlying business, also multiplied to €4,970 million (Q1 2020: €719 million).
Harald Wilhelm, Chief Financial Officer of Daimler AG:
“Deliveries, revenues and profits increased significantly, particularly thanks to tailwinds in China, a strong product mix and favorable pricing, supported by industrial performance enhancements and cost control. After this promising start, we are very confident that we can keep up the pace to improve our margins on a sustainable basis and at the same time expand our electric vehicle line-up.”
In the first quarter of 2021, net profit was €4,373 million (Q1 2020: €168 million). Net profit attributable to the shareholders of Daimler AG amounted to €4,290 million (Q1 2020: €94 million), leading to an increase in earnings per share to €4.01 (Q1 2020: €0.09).
Investments, free cash flow and liquidity
The Group’s investments in property, plant and equipment in the first quarter totaled €1.2 billion (Q1 2020: €1.3 billion). Research and development expenditure amounted to €2.4 billion (Q1 2020: €2.4 billion). The free cash flow of the industrial business was an inflow of €1.8 billion (Q1 2020: outflow of €2.3 billion), including