Daimler Confirms 2021 Guidance But Expects Lower Mercedes-Benz Cars Sales
July 21 2021 - 2:10AM
Dow Jones News
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)
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