Daily Management Review

Daimler's 9-month net profit jumps by almost 73 times


German carmaker Daimler's net profit attributable to shareholders in January-September 2021 rose almost 73 times year-on-year to €10.358 billion after €142 million a year earlier, according to a company press release.

Diluted earnings per share stood at €9.68, up from €0.13 in the same period last year. Daimler's total revenue rose 16% to €124.582 billion.

The company reported net profit attributable to shareholders of €2.47 billion in the third quarter, up 20.5% on the previous year. Diluted earnings per share were €2.31 compared to €1.91 a year ago. Total revenues fell slightly, by 0.5% to €40.083 billion.

The company's vehicle sales in the third quarter were 577,85 thousand units, down 25% year-on-year. Mercedes Benz sales were 383.45 thousand units worldwide. In the third quarter, 132.8 thousand Mercedes Benz vehicles were sold in Europe. Sales in Germany were 45.1 thousand units. In China, Mercedes Benz's biggest market, sales were 132.6 thousand units, in the U.S. 46.2 thousand units.

Daimler AG is one of the largest automobile companies in the world. It was founded in 1883, in 1926 the company became a joint stock company Daimler-Benz. In 1998, Daimler Chrysler AG was formed as a result of a merger with the American automobile corporation Chrysler. In 2007, the car giant was renamed to Daimler again. The company employs 289,28 thousand people.

source: bloomberg.com