Daimler To Be Renamed Mercedes-Benz During Huge Corporate Shakeup ++ An important move in optimizing efficiency.
Yes, that isn’t a misprint, Daimler will be renamed Mercedes-Benz as the result of a massive corporate shift in strategy. In a move designed to focus on a zero-emissions, software-driven future, Daimler’s Supervisory board and Board of Management agreed to evaluate plans for a separate listing of Daimler Truck. But why?
“Mercedes-Benz Cars & Vans and Daimler Trucks & Buses are different businesses with specific customer groups, technology paths and capital needs,” said Ola Källenius, Chairman of the Board of Management of Daimler and Mercedes-Benz. “Both companies operate in industries that are facing major technological and structural changes.”
Significant majority stake to current Daimler shareholders
Daimler to be renamed Mercedes-Benz
Financial service teams of Daimler Mobility to be allocated to the respective Cars & Vans and Truck & Bus business
Listing of Daimler Truck in Frankfurt planned for end 2021
Management board chairman Ola Kaellenius: It represents the start of a profound reshaping of the company
Daimler announced on Wednesday it plans separation into two pure-play companies and a majority listing of Daimler Truck to accelerate into a zero- emissions and software-driven future .
The supervisory and management boards agreed to evaluate a spin-off of the Truck and Bus business and begin preparations for a separate listing of Daimler Truck with a significant majority stake in Truck distributed to Daimler shareholders.
Daimler said in a preliminary full year 2020 results announcement its industrial free cash flow, group EBIT, Mercedes-Benz Cars & Vans return on sales adjusted and Daimler Mobility return on equity adjusted were all significantly guidance or significantly above market expectations for the financial year 2020 .
Free cash flow in the fourth quarter reflected the continued extensive cost and cash preservation measures and strong operative performances across all divisions leading to favorable cash-conversion ratios , it added.
Daimler said it completed 2020 in a challenging environment with a very strong fourth quarter, in particular with regard to [cash flow]. All divisions contributed to this success. Mercedes-Benz Cars and Vans exceeded key financial metrics of [full year 2019].
DGAP-Ad-hoc: Daimler AG / Key word(s): Preliminary Results
Daimler AG: Preliminary results for the financial year 2020 significantly above guidance and market expectations
28-Jan-2021 / 20:17 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
Preliminary results for the financial year 2020 significantly above guidance and market expectations
Stuttgart, Germany - Daimler completed the financial year of 2020 in a challenging environment with a very strong fourth quarter, in particular with regard to Industrial Free Cash Flow. All divisions contributed to this success.
Daimler preliminary results for the financial year 2020 significantly above guidance and market expectations
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STUTTGART, Germany, Jan. 28, 2021 /PRNewswire/ Daimler completed the financial year of 2020 in a challenging environment with a very strong fourth quarter, in particular with regard to Industrial Free Cash Flow. All divisions contributed to this success. Mercedes-Benz Cars and Vans exceeded key financial metrics of the financial year 2019.
Industrial Free Cash Flow, Daimler Group EBIT, Mercedes-Benz Cars & Vans Return on Sales adjusted and Daimler Mobility Return on Equity adjusted are all significantly above Daimler s guidance or significantly above market expectations for the financial year 2020.