Though the year 2013 was rough at the beginning for Daimler AG, a German multinational automotive corporation, it closed better than expected that finally helped it do well in the stock market. Its stocks traded at € 63.29 +2.41 (+3.96%). Founded in 1998, automaker Daimler AG finished which was facing a profit warning, the last year, expects better performance this year.
The company’s net profit fell 36 percent to 1.68 billion Euros ($2.27 billion) which according to the market sources reflects a one-time gain in the fourth quarter of 2012 of 709 million Euros from the sale of a stake in aerospace company EADS. Headed by CEO Dieter Zetsche, the car maker has been able to turn around its business after a lot of flake recently.
Headquartered at Stuttgart, Baden-Württemberg, Germany, the car maker was founded by Karl Benz. The company said that operating earnings jumped 45 percent to 2.53 billion from 1.74 billion. Thus, revenues increased 8 percent to 32.09 billion with sales up for its small vehicles. Nevertheless, the automobile company also introduced a new version of its flagship Mercedes-Benz S-Class luxury sedan.
Retaining Dieter Zetsche Paid Well for the Company
The profits and higher performance in stock market will mean that the company was right retaining CEO Dieter Zetsche. Earlier the company was facing profit warning however, under Zetsche things have transformed a lot for better. The car maker said that it concluded the year 2013 with record levels of unit sales, revenue, EBIT and net profit.
Thus, with the tremendously positive results in 2013, Daimler AG is willing to do better this year. Moreover, as the company anticipates renewed growth in 2014 due to its strong product portfolio and ongoing investment in production and new technologies, investors may feel enthusiastic about buying shares in it.
In his statement Dieter Zetsche said that 2013 was a year that the company didn’t begin particularly well, but which it ended very successfully. He paid gratitude to efforts that the company paid. Moreover, as Daimler is in very good condition, it says that its prospects for the future also make it confident that it will achieve the ambitious goals in all its divisions.
For the new year and coming years, Daimler AG says that Mercedes-Benz Cars will consistently follow its path of growth in the context of the offensive. In its release the company reveals that a rejuvenated model portfolio and important new product launches should help the division to significantly increase its unit sales and thus reach a new record.
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