FRANKFURT — Daimler stated on Thursday a robust fourth quarter helped it publish better-than-expected 2020 group working revenue and that it was optimistic for 2021.
The Stuttgart-based maker of Mercedes-Benz automobiles and vans warned, nonetheless, that present shortages in semiconductors and COVID-19 disruptions would in all probability have an effect on the primary quarter.
Because of price financial savings and a faster-than-expected restoration within the auto sector, group earnings earlier than curiosity and taxes (EBIT) for 2020 got here to six.60 billion euros ($8 billion), above consensus projections of 5.25 billion euros, the carmaker stated, citing preliminary figures. That’s up 52% from 4.329 billion euros for 2019.
“Given the event of profitable price self-discipline continued within the fourth quarter and anticipated good underlying demand, Daimler additionally anticipates a constructive enterprise improvement in 2021,” the corporate stated.
Volkswagen, against this, stated final week that 2020 revenue virtually halved as a result of pandemic, whereas BMW stated it exceeded expectations by some metrics.
Daimler, like its rivals, has confronted a bottleneck within the semiconductors after chip producers earlier within the coronavirus disaster shifted manufacturing away from the hard-hit auto sector to serve different areas, like shopper electronics.
The auto restoration has left corporations like Daimler briefly provide of the important parts, inflicting them to halt or gradual manufacturing.
Daimler will publish full fourth-quarter figures and extra detailed 2021 steering on Feb. 18.
