Daimler’s 1Q Income, Truck Sales Jump
Daimler AG said Friday its first-quarter profit jumped on higher automobile and truck sales.
The Germany-based company, which makes Freightliner brand trucks in North America, said its trucks unit’s operating profit more than tripled to 415 million euros. The return on sales was 6.6%.
Daimler Trucks’ sales rose 27% to 89,300 units worldwide, with revenue rising 28% from a year ago, to 6.2 billion euros.
This earnings gain was due primarily to stronger business development, particularly in Western Europe and the United States markets, the company said.
The truck unit took a charge of 49 million euros related to damages and lost production caused by the March 11 earthquake in Japan, where a Fuso plant is still ramping up production after shutting down after the disaster, Bloomberg reported.
Daimler’s overall corporate net income rose 59% to 1.06 billion euros as revenue rose 17% to 24.7 billion euros.
