Daimler posts steep Q3 net loss on Chrysler charges; reaffirms FY guidance |
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Published
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Thu, 25 Oct 2007 11:35
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STUTTGART (Thomson Financial) - Daimler AG said it posted a net loss of 1.533 bln eur in the third quarter compared with a profit of 868 mln eur a year earlier as it booked a 2.5 bln eur non-cash charge on the sale of its 80 pct stake in Chrysler.It said EBIT was 1.891 bln eur compared with 1.823 bln, thanks to significantly higher earnings from the Mercedes-Benz Car division, which profited from a higher sales as well as ongoing efficiency improvements.The EBIT figure beat a consensus forecast of 1.822 bln eur. Sales, which the company said rose 6 pct at 25.7 bln eur, also beat market expectations.Analysts polled by Thomson Financial News had estimated sales at24.176 bln eur.Daimler reiterated its EBIT forecast of 8.5 bln eur for the full year and said it expects revenues to be flat at 99 bln eur on unit sales also unchanged from 2006 levels.marilyn.gerlach@thomson.commog/jmsCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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Daimler CEO says large investors interested in taking stakes 