Daimler confident for 2021
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Financial results 2020 significantly better than expected amid COVID-19 challenges
Net profit increased by 48% to €4.0 billion (2019: €2.7 billion)
Net liquidity of the industrial business of €17.9 billion (end of Q3 2020: €13.1 billion/end of 2019: €11.0 billion)
Dividend proposed of €1.35 per share (2019: €0.90)
Daimler Group expects sales, revenues and EBIT in 2021 to be significantly above the prior-year s level
Intention to spin-off Daimler Truck with majority listing on the stock exchange
Daimler AG (ticker symbol: DAI) today reported its results for the fiscal year 2020 ended December 31, 2020. In a challenging environment due to the COVID-19 pandemic, the Group s total unit sales of passenger cars and commercial vehicles decreased by 15%, to 2.84 million (2019: 3.34 million). Revenue was €154.3 billion (2019: €172.7 billion), a reduction of 11%. Due to extensive cost and cash preservation measures an
Daimler announces plan to spin off truck business
Daimler AG announced this week it will split its commercial vehicle business from its luxury car operation later this year, listing the former as a second unit and renaming the latter as Mercedes-Benz.
The move has been pushed by some Daimler AG investors for years, citing a low valuation for the group company.
In a statement, Daimler AG said it is intended that a significant majority stake in Daimler Truck will be distributed to Daimler shareholders. Additionally, the Daimler Truck business will have fully independent management, stand-alone corporate governance including an independent Chairman of the Supervisory Board, and is targeted to qualify as a DAX company.
Daimler to split cars and trucks
Daimler to split cars and trucks
February 04, 2021
Historic auto giant to be divided into Mercedes-Benz and Daimler Trucks
One of the world’s oldest and largest auto-makers is changing its name again, as part of a major restructure of its business that will see Daimler AG’s car and van operations split from its truck and bus division.
The German auto giant also announced its intention to rename itself simply as ‘Mercedes-Benz‘ at an appropriate time, providing further distinction between its car/van business and Daimler Truck, while its Daimler Mobility financial service teams will be redeployed to each of the two major company divisions.
Daimler to split into two pure-play companies: cars & vans, trucks & buses
Daimler plans a fundamental change in its structure, splitting into two independent pure-play companies: Mercedes-Benz Cars & Vans, and Daimler Truck, which will be a spin-off the current Truck and Bus business.
Daimler intends that a significant majority stake in Daimler Truck will be distributed to Daimler shareholders. The Daimler Truck business will have fully independent management, stand-alone corporate governance including an independent Chairman of the Supervisory Board, and is targeted to qualify as a DAX company. The transaction and the listing of Daimler Truck on the Frankfurt stock exchange is expected to be complete before year-end 2021. In addition, it is also Daimler’s intention to rename itself as Mercedes-Benz at the appropriate time.