Daimler, despite chip problems in the second quarter, Ebit ‘flies’ to 5.185 billion

In a ‘very heavy’ day for stocks in the automotive sector, the Daimler group contains losses, remaining close to parity, thanks to the positive results anticipated for the second quarter, obtained – it specifies from Stuttgart – “despite the negative effects of the very limited availability of semiconductors “. The results – still unofficial – for April-June show an Ebit of 5.185 billion euro for the group, 25% higher than the consensus (4.1 billion) while the adjusted Ebit stands at 5.42 billion. Strong contribution from the Cars & Vans division with an Ebit of 3.437 billion and an adjusted margin of 12.8%. The Ebit of Trucks & Buses is anticipated around 820 million with a RoS of 8.3%. Daimler Mobility also performed well with an Ebit of 924 million euros and a Return on Equity of 24.0%. The results of Cars & Vans were also affected by expenses of 107 million euros for legal proceedings and 59 million euros for restructuring. In addition to the underlying operating performance, Daimler reports generation of industrial free cash flow of 2.586 billion euros in the second quarter, for a total of 4.4 billion industrial free cash flow in the first half of 2021. persistent low semiconductor availability negatively impacted our production and sales in the second quarter “Ola Källenius, chairman of the board of directors of Daimler AG and Mercedes-Benz AG reports” strong financial performance across all divisions. We are were able to post double-digit margins on Mercedes-Benz Cars and Vans for the third consecutive quarter, demonstrating the resilience of our business. “