DGAP-Ad-hoc: Daimler AG / Key word(s): Preliminary Results Daimler AG: Preliminary second quarter 2021 results above market expectations despite semiconductor shortage 15-Jul-2021 / 00:16 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 second quarter 2021 results above market expectations despite semiconductor shortage
Stuttgart, Germany - Mercedes-Benz Cars & Vans achieved strong results in the second quarter thanks to convincing products, favorable product mix, pricing and ongoing cost discipline. This was despite negative effects from the very limited availability of semiconductor components. Daimler Trucks & Buses sales increased in almost all regions due to improved market conditions, which translated into higher profitability in the second quarter. In addition, the Daimler Trucks & Buses EBIT benefitted from strong pricing, higher aftersales business and positive, non-recurring valuation effects of around €100 million. EBIT at Daimler Mobility benefitted from low cost of credit risk, a credit provision release of €120 million and improved funding costs.