- Daimler sold 644,300 vehicles (Q1 2019: 773,800);
- Revenue of €37.2 billion (Q1 2019: €39.7 billion);
- Group net profit of €168 million (Q1 2019: €2,149 million);
- Industrial net liquidity of €9.3 billion (end of 2019: €11.0 billion).
Daimler AG total unit sales decreased by 17% to 644,300 passenger cars and commercial vehicles (Q1 2019: 773,800) due to the global spread of the coronavirus. Revenue slipped slightly by 6% to €37.2 billion (Q1 2019: €39.7 billion).
First-quarter EBIT was €617 million (Q1 2019: €2,798 million). Adjusted EBIT, reflecting the underlying business, was €719 million (Q1 2019: €2,310 million).
Daimler investments
Daimler’s investments in property, plant and equipment in the first quarter totaled €1.6 billion (Q1 2019: €1.7 billion). Research and development expenditure amounted to €2.4 billion (Q1 2019: €2.4 billion).
The free cash flow of the industrial business was minus €2.3 billion (Q1 2019: minus €2.0 billion) and was particularly influenced by the global effects of the pandemic. The adjusted free cash flow of the industrial business was minus €1.9 billion (Q1 2019: minus €2.0 billion), which is still influenced by high upfront investments in future products.
Divisional results
Sales by the Mercedes-Benz Cars & Vans division decreased by 16% to 546,700 vehicles in the first quarter (Q1 2019: 652.400). Revenue was €23.2 billion (Q1 2019: €24.1 billion).
Sales by Mercedes-Benz Cars slipped by 15% to 470,600 vehicles in the first quarter (Q1 2019: 555.300). Mercedes-Benz Vans’ sales were down 22% to 76,200 vehicles (Q1 2019: 97,000).
Daimler Trucks & Buses division showed a decrease in unit sales of 20% to 97,600 vehicles in the first quarter (Q1 2019: 121,400). Revenue was €8.7 billion (Q1 2019: €10.2 billion).
Sales by Daimler Trucks fell by 20% to 92,500 vehicles in the first quarter (Q1 2019: 115,900). Daimler Buses sold 5,100 vehicles (Q1 2019: 5,500) – a decrease of 8%.
At Daimler Mobility, new business decreased by 7% to €16.2 billion in the first quarter (Q1 2019: €17.3 billion). Contract volume was €159.6 billion at the end of the quarter (December 31, 2019: €162.8 billion). Revenue was €7.1 billion (Q1 2019: €6.9 billion).
