daimler ag- spn adr (DDAIY) Key Developments
Daimler AG Collaborates with BMW AG to Establish Network of Mexican Suppliers for New Factories in Mexico
Nov 19 14
Daimler AG announced its collaboration with BMW AG to build a network of suppliers for new factories in Mexico. This step is part of a broader push by Mercedes to deepen its network of local suppliers at plants in China, South Africa, the United States and Mexico. Both companies revealed plans to invest USD 1 billion to construct a facility in Mexico earlier this year. Both firms work together where they have common interests, such as establishing technical competencies among their suppliers in specific factories.
Mercedes-Benz to Develop Extra-Long Version of its S-Class Pullman
Oct 31 14
Mercedes-Benz, a subsidiary of Daimler AG announced that it is developing an extra, extra-long version of its S-Class sedan, named S-Class Pullman, that is likely to revive the Pullman name. The model is equipped with a twin-turbocharged 6.0-litre V12 engine that delivers 523bhp and 612 pound-feet of torque. It is to be launched at the 2015 Frankfurt Auto Show next September.
Bayerische Motoren Werke Aktiengesellschaft and Daimler AG Collaborate with the Technical University of Munich to Develop Visio M
Oct 29 14
BMW AG and Daimler AG collaborated with the Technical University of Munich to develop, build and modify an electric vehicle called Visio M. The model features side windows made out of plastic, aluminium body panels, a monocoque made from carbon fibre-reinforced plastic, structural airbags located on the bumpers and on both doors, a two-spoke multi-function steering wheel, a digital instrument cluster, a tablet-like touch screen on the centre stack and an ethanol-based heater. It is equipped with a 20bhp motor that takes electricity from a lithium-ion battery pack mounted behind the seats. It reaches a top speed of 75 mph and has a range of up to 100 miles in ideal driving conditions. The German Federal Ministry of Education and Research granted the school EUR7.1m to develop the Visio.M.
Mercedes-Benz Launches GLA45 AMG in India
Oct 28 14
Mercedes-Benz launched its GLA45 AMG sport utility vehicle. Offered only with a turbocharged, 2.0-litre gasoline (petrol) engine, the AMG version is priced at INR 6,970 (USD 113,699) in Mumbai. The turbocharged engine has 355 bhp power and 450 Nm torque and is paired with the AMG SpeedShift 7-speed dual-clutch gearbox.
Daimler Reports Earnings Results for the Third Quarter and Nine Months of 2014; Provides Earnings Guidance for the Year 2014
Oct 23 14
Daimler reported earnings results for the third quarter and nine months of 2014. For the quarter, the company reported revenue of EUR 33,122 million against EUR 30,099 million a year ago. EBIT was EUR 3,732 million against EUR 2,231 million a year ago. EBIT (from ongoing business) was EUR 2,787 million against EUR 2,300 million a year ago. Net profit was EUR 2,821 million against EUR 1,897 million a year ago. Earnings per share were EUR 2.56 against EUR 1.72 a year ago. Free cash flow was EUR 5,375 million against EUR 1,577 million a year ago. The company invested EUR 1.2 billion in property, plant and equipment in the third quarter of this year against EUR 1.1 billion for the same period of last year. Most of that investment volume, EUR 0.9 billion, was at the Mercedes-Benz Cars division against EUR 0.8 billion a year ago. The main area of capital expenditure was on production preparations for new models, in particular the new C-Class and its derivatives, the new SUV coupe, and investments for new transmissions and engine versions. Another area of capital expenditure was for the ongoing expansion of the international production and component plants.
For the year to date, the company reported revenue of EUR 94,123 million against EUR 85,893 million a year ago. EBIT was EUR 8,614 million against EUR 8,390 million a year ago. EBIT (from ongoing business) was EUR 7,322 against EUR 5,441 million a year ago. Net profit was EUR 6,103 million against EUR 7,044 million a year ago. Earnings per share were EUR 5.48 against EUR 4.87 a year ago. Free cash flow was EUR 6,822 million against EUR 3,879 million a year ago.
The company assumes that Group revenue will increase significantly in the year 2014. On the basis of the anticipated market development, and the planning of the divisions, the company assumes that EBIT from ongoing business will increase significantly in the year 2014. The company expects industrial free cash flow in 2014 to be significantly higher than in 2013.