Daimler AG - Full Year Results and Annual Report 2020
February 18, 2021 - Financial results 2020 are significantly better than expected amid COVID-19 challenges. Daimler Group expects sales, revenues and EBIT in 2021 to be significantly above the prior-year’s level and intends to spin-off Daimler Truck with majority listing on the stock exchange.
In a challenging environment due to the COVID-19 pandemic, the Group’s total unit sales of passenger cars and commercial vehicles decreased by 15%. Revenue was €154.3 billion, a reduction of 11%. Due to extensive cost and cash preservation measures and strong performances across all divisions, EBIT of the Daimler Group increased by 53%. Adjusted EBIT, reflecting the underlying business, was €8.6 billion (2019: €10.3 billion).
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