Daimler completed the financial year of 2020 in a challenging environment with a very strong fourth quarter, in particular with regard to Industrial Free Cash Flow.
All divisions contributed to this success. Mercedes-Benz Cars and Vans exceeded key financial metrics of the financial year 2019.
Industrial Free Cash Flow, Daimler Group EBIT, Mercedes-Benz Cars & Vans Return on Sales adjusted and Daimler Mobility Return on Equity adjusted are all significantly above Daimler’s guidance or significantly above market expectations for the financial year 2020.
The Industrial Free Cash Flow in the fourth quarter reflects the continued extensive cost and cash preservation measures and strong operative performances across all divisions leading to favourable cash-conversion ratios.
Ola Källenius, Chairman of the Board of Management of Daimler AG and Mercedes-Benz AG, stated: “Our strategic initiatives and our intense operational efforts are combining to deliver a significant improvement in financial performance across the company. We have continued to keep a tight grip on cost and cash while on the commercial side we have seen strong demand for our products across all major markets and divisions.
At Mercedes-Benz Cars & Vans, we were able to combine a rapid acceleration in xEV sales with a strong financial result in Q4. At Daimler Trucks, the recovery of the US-market has accelerated and we are beginning to see a positive impact from new efficiency measures in our European operations. We intend to continue to make further progress on cost-efficiencies in 2021 and will accelerate the implementation of our strategic initiatives,”
Given the development of successful cost discipline continued in the fourth quarter and expected good underlying demand, Daimler also anticipates a positive business development in 2021. The current semiconductor shortages and COVID-19 disruptions will probably impact the first quarter of 2021. Please note these statements are made under the assumption of no further COVID-19 lockdowns.
Daimler AG will publish further key figures of the financial year 2020 and the fourth quarter of 2020 on February 18, 2021. Daimler will provide guidance for the financial year 2021 together with the full-year results.
EBIT, EBIT adjusted, RoS adjusted, RoE adjusted, Industrial Free Cash Flow and Industrial Free Cash Flow adjusted are defined on pp. 64 and 73 of the Daimler Annual Report 2019.
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