The chip crisis may have consequences on sales in the second quarter, yet Daimler expects an operating profit clearly above the 2020 figure. The worldwide shortage of semi-drivers should mark a recovery in the second half of the year, according to Daimler, even if “the evolution remains difficult to predict.” The Stuttgart company has raised the profitability target of its auto sector, after a better-than-expected first quarter. For this year, the Mercedes-Benz manufacturer, which is making a turn towards electric cars after the announcement at the end of 2020, of approximately 70 billion euros in investments, expects an operating margin for the car and van division between 10% and 12%, two points higher than the indications of last February.In 2020 the margin, which is an important reference for the markets, was 6.9%.
For the heavy vehicles and buses division, which will become autonomous before the end of the year with the listing on the stock exchange, a margin of between 6-7% is confirmed. The division’s spin off will be subject to an extraordinary general meeting to be held in the fall. The project is moving forward “on schedule,” the group said.
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Daimler also announced the final figures for the quarter, with a net profit of 4.4 billion euros, up from 168 million in the same period last year, when the coronavirus crisis began. Turnover increased 10% to 41 billion and Ebit reached 5.8 billion from 617 million, in line with the preliminary results, released last week and higher than analysts’ expectations. On the Frankfurt stock exchange, the Daimler stock made limited progress to 73.88 euros, after having also reached + 2%. Since the beginning of 2021 it has registered a brilliant + 30%.