Red Numbers, they knew the car maker Daimler for a long time only by hearsay. But now it has also caught the Swabian premium manufacturer. To counteract, as usual, with a savings program.
The global sales slump and costly problems – including the Diesel – have pushed the car manufacturer Daimler in the second quarter in the red. In the second quarter of the top-class manufacturer made a net loss of 1.2 billion euros after a profit of EUR 1.8 billion in the prior-year period, as the company announced on Wednesday. Sales increased from April to June by five per cent to 42.7 billion euros. The Dax group announced in mid-July, already reported an operating loss of 1.6 billion euros in the quarter, and therefore, for the second Time in a short period of time its full-year forecast lowered.
As a reason, the car maker had to call for additional provisions in connection with the diesel scandal, and for a return due to possible Airbag problems. In addition, Daimler gets for some time, the slack in many markets to be felt in the Form of a weakening of the paragraph. To start-up difficulties with new models and problems in the Van division, which has retracted to a second-quarter loss of billions. For CEO Ola Källenius it is the first quarter balance sheet since his departure two months ago, Daimler and the first quarterly loss in ten years.
Has also seen better times: A destroyed Mercedes sedan
Savings program should be strengthened
Against the legal risks and costs of the scandal to high nitrogen oxide emissions from diesel cars from Mercedes, Daimler secured in the second quarter, according to analysts ‘ estimates of around two and a half billion euros in provisions. In addition, Daimler for return of put call due to defective Airbags a billion euros.
Burdensome, the costs for restructuring the group had in addition to the high upfront expenditures for new products in a Holding company with separate daughter companies. Overall, the special charges would have been summed up in the quarter to 4.2 billion euros, said the new CEO Ola Källenius to its first balance sheet template. The top-class manufacturers also get the downturn in the auto industry is felt worldwide. Here, the trade dispute with the United States under a President Donald Trump with China makes itself felt.
Källenius announced to strengthen the group-wide austerity programmes and to review the product portfolio in order to bring the Daimler back on the road to success. Details he, however, remained the more guilty. He wanted to give half-baked answers, but a comprehensive Plan for its future strategy at a Capital markets day on 14. November in London. But he wanted to achieve Daimler, a “change in thinking to more Cash”.
The operating result for the Dax-listed group expects for the full year with a decline of more than 15 percent, while the operating result was already dropped in the previous year-about one-fifth to eleven billion euros. For the second half of the year, Daimler expects a significant improvement in the profit before Tax.
hb/dk (dpa,rtr)