Friday, October 21, 2016

Prognosis is conceded: Truck division in the shadow of Daimler-balance – NEWS

Friday, 21. October 2016

In the last quarter, Daimler earned as much as never before. But the record result of can not conceal the fact that there is a Problem, especially in North America. Jobs will also jiggle now in Germany?

Actually, might pop in Stuttgart, the champagne corks – but the commercial vehicle business corrupts Daimler the party mood. Because while the passenger Car division, Mercedes-raster-Benz from record to record, is accelerating the decline of Truck sales. And so, the Dax needs to collect group its forecasts for the current year: sales will only reach the previous year’s level of just under 150 billion euros. So far, Daimler had a slight increase in views.

In the third quarter to put the operating profit of the brand with the star in the Car business for a quarter. However, in the Trucks division, the pilot broke in your earnings by 41 percent. Sales fell by a fifth. The profit forecast of a “slight” increase of 2.5 to 10 percent left the Swabians still unchanged. Despite fluctuations in sales and financial markets, the group could achieve its profit forecast, said chief financial officer Bodo Uebber. “After nine months, Daimler is not only very successful but also very dynamic on the road.” Analysts to trust the Dax-listed group last, however, is only a Plus at the bottom of the range of three percent.

investors pushed the lower forecast. The record earnings in the third quarter had surpassed expectations, came on the market in the Background. With a turnover increase of four per cent, Daimler increased its adjusted operating result by ten per cent to four billion euros.

How big is the axe?

In the Truck division, the mischief brewing for a long time together: especially in North America and Brazil, the world market leader for heavy trucks-less utility vehicles. In addition, the political uncertainty, reinforcing the downward trend in Turkey, said Daimler. And the only support, Western Europe, loses momentum, as the recent sales figures of the industry Association Acea showed. In September, only three percent more heavy Trucks in the EU were sold to two-digit growth rates.

The prospects for the coming year, according to the analysts of UBS is even bleaker. They expect a further decline in profits of Daimler Trucks, which accounts for a fifth of group sales. The rival to Volvo, in the third quarter, also in reverse gear, predicted as the first manufacturer in a market decline – on both sides of the Atlantic.

Daimler against controlled with the elimination of Thousands of jobs in the United States and Brazil. Now it could be the meeting at the German locations, such as Wörth and Gaggenau temporary workers. On shift models, working-time accounts and fixed-term Employees, Daimler Trucks have a game room in the employment of 25 percent up or down. “We have to consider efficiency measures in the Truck, to implement the area,” said Uebber. Also, the medium-term return target of eight percent by the end of September to 6.8 per cent – shake according to him.

The cost of the mountain grows

At the same time, the costs for research and development as well as property investment due to the upheaval in the car industry when Daimler pile up higher and higher. On the car fair in Paris-announced electric car Offensive with ten new models in the next ten years, the investment would need to be driven high, explained Uebber. At the same time, Daimler is already working on the next Generation of the compact car and the new edition of the luxury sedan S-class.

More about

The strength to deal with all that, need to Daimler chief Dieter Zetsche from the rising yield in the Cars to draw business. The adjusted margin rose in the past quarter of a percentage point to 11.4 percent. Thus, Daimler not only in sales, but also in terms of profitability, good prospects, in this quarter, the rivals BMW and Audi hang out in the fast Lane. Mercedes defended thanks to his still younger model range by the end of September, with nearly 1.54 million deliveries in first place among the premium manufacturers. BMW sold around 1.48 million, Audi almost 1.41 million vehicles.

The Daimler share is not going to help but according to the analysts at Evercore ISI on the jumps. Mercedes have made an extraordinary turnaround. “But this is now well understood and leaves little room for positive Surprises or undiscovered gain momentum.”




No comments:

Post a Comment