Daimler expects weak profit growth in 2019

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The German automaker expects weak growth in profit, sales and revenue in 2019. Due to poor reports for 2018, the company reduced dividends for the first time since 2010. At the end of the fourth quarter of last year, the profit fell almost two times - from 3.22 billion euros to 1.64 billion euros. Operating profit declined by 22% to 2.67 billion. According to analysts, revenues should reach 45.5 billion euros. Revenue rose by 7% to 46.6 billion euros. Daimler CEO, Dieter Zetsche, said that the past year was difficult for the company. The automaker's dividends fell from 3.65 euros to 3.25 euros, less than the market forecast of 3.4 euros per share. The Mercedes-Benz Cards division reduced operating profit by 21% to 1.88 billion euros. The profitability of the division decreased from 9.4% to 7.8%. Daimler Trucks operating profit rose 27% to 0.71 billion euros. In 2018, the company sold 2.4% more cars than in 2017 - 3.4 million cars.

 

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