Share Name Share Symbol Market Type
Daimler AG XE:DAI XETRA Ordinary Share
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -5.22 -5.91% 83.16 83.16 82.88 85.58 82.25 85.00 6,383,596 16:45:00

Daimler Confirms 2021 Guidance But Expects Lower Mercedes-Benz Cars Sales

21/07/2021 7:10am

Dow Jones News

Daimler (XE:DAI)
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   By Kim Richters 

Daimler AG on Wednesday confirmed its revenue and earnings guidance for 2021, but said the semiconductor shortage will continue to affect its business and hit car sales this year.

For 2021, Daimler said it continues to expect group revenue and earnings before interest and taxes significantly above prior-year level.

However, it said sales at its Mercedes-Benz Cars business will continue to be affected by the semiconductor shortage, with third-quarter unit sales in the range of the second quarter or below, and full-year sales at prior-year level. It had previously expected full-year sales significantly above 2020.

The car maker on Wednesday also released full second-quarter figures. Net profit for the period swung to 3.60 billion euros ($4.24 billion) from a loss of EUR2 billion a year earlier amid the coronavirus pandemic. Revenue rose to EUR43.48 billion from EUR30.18 billion.

Daimler already released some preliminary figures for the period that came in above expectations, with earnings before interest and taxes of EUR5.19 billion and adjusted EBIT of EUR5.42 billion.


Write to Kim Richters at kim.richters@wsj.com


(END) Dow Jones Newswires

July 21, 2021 02:03 ET (06:03 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.

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