2023 Author: Eric Donovan | [email protected]. Last modified: 2023-08-25 09:36
The car manufacturer Daimler presented its figures for the first quarter on Wednesday. Due to the sales crisis in Europe, experts assume a profit warning.
The automaker Daimler presented its figures for the first quarter of 2013 on Wednesday - and according to experts, it could issue the second profit warning within a few months. "I expect that this year it will be a bit more difficult for Daimler and that you will probably not be able to achieve the high goals that you have set yourself," said car expert Stefan Bratzel from the University of Applied Sciences in Bergisch Gladbach. "The conditions in Europe have not improved, but are worse than Daimler expected."
Forecast is under scrutiny
At the annual general meeting in the middle of the month, CEO Dieter Zetsche announced that he would be reviewing the forecast for the current year because of the sales crisis in Europe - after he had to cut the profit target for 2012 in autumn. Zetsche now wants to announce details of the expectations in the balance sheet presentation. At the beginning of February he announced that the operating result would not move in 2013. In the auto division, Zetsche had recently forecast a decline below the previous year's level of EUR 4.4 billion for 2013.
"The first quarter will be worse, you will see that," said car expert Ferdinand Dudenhöffer from the University of Duisburg-Essen. After Zetsche's announcement to review the targets, it is not unlikely that a profit warning for 2013 will follow. Other carmakers are currently suffering from the ailing business in Europe: Most recently, even the industry leader Volkswagen had to report a drop in sales for its core brand VW for March due to the crisis in the markets.
Possible credibility problem
However, if Daimler repeatedly cashed in on its goals, the group could ultimately have a credibility problem, warned expert Bratzel. "You have to get closer to the goals you have set yourself." In addition to the new compacts, the Stuttgart-based company has high hopes for its flagship S-Class, the new generation of which will premiere in May. A revised version of the E-Class is already rolling off the production line. (dpa)
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