FRANKFURT--German car maker Daimler AG (DAI.XE) said Thursday it
is increasing provisions for potential payments it may need to make
in connection with an antitrust probe of commercial vehicle
manufacturers by 600 million euros ($747.8 million).
The higher provision will hit Daimler's fourth-quarter earnings
before interest and taxes, where it will be taken into account as a
special reporting item, Daimler said, but doesn't affect the
full-year outlook. The auto maker still expects EBIT from business
to increase significantly in 2014.
Daimler is raising a provision it took in 2011. It declined to
say how high the previous provision had been. It raised the
provision after reviewing documents from the antitrust probe of the
European Union Commission, the executive arm of the EU carrying out
the investigation. The Commission delivered its statement of
objections to Daimler at the end of November.
Daimler said it is cooperating with the authorities, but
reviewing all options in the procedure.
Write to Frankfurt bureau at djnews.frankfurt@dowjones.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires