Daimler’s Truck Earnings Nearly Double While Company’s Profit Falls
Daimler AG said fourth-quarter earnings at its global truck division nearly doubled from a year ago, but companywide profit declined.
Daimler Trucks recorded earnings before interest and taxation of 565 million euros ($762 million), a 92% jump from the previous year’s quarter, and revenue grew 9% to 8.5 billion euros ($11.5 billion).
The truck segment’s unit sales climbed 19% to 134,550, the company said.
Daimler sells the Freightliner and Western Star brands in North America, as well as the Detroit brand of diesel engines, transmissions and axles.
Companywide, the German truck and car manufacturer reported a 36% drop in net profit, to 1.68 billion euros ($2.27 billion), despite 8% revenue growth.
“After the world market for medium- and heavy-duty trucks expanded perceptibly in 2013 despite difficult market conditions, further moderate growth in global demand is expected this year,” the company said in its Feb. 6 report.
In North America, Daimler said it anticipates “significant” market growth of up to 10% due to “the increasingly dynamic economy.”
