Daimler's loss per share rises to €1.87 in Q2

Thursday, 23. July 2020 07:09

Daimler said on Thursday that its loss per share rose to €1.87 in the second quarter, compared to a loss of €1.24 per share a year ago. Meanwhile, the carmaker's net loss was at €1.9 billion, increasing from a loss of 1.2 billion in the second quarter of 2019. Revenue fell by 29% year on year to 30.2 billion in the quarter ended June. The company added its sales dropped by 34% amid the coronavirus pandemic and amounted to 541,833 units in the second quarter.

"Due to the unprecedented COVID-19 pandemic, we had to endure a challenging quarter. But our net industrial liquidity is a testament to effective cost control and cash management, which we must continue to enforce. We are now seeing the first signs of a sales recovery – especially at Mercedes-Benz passenger cars, where we are experiencing strong demand for our top-end models and our electrified vehicles," Chairman of the Board of Management of Daimler Ola Kaellenius said.

Net liquidity of the industrial business was at €9.5 billion, rising by €0.2 billion since the previous quarter. The figure increased by 43% year-on-year.

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Breaking the News / VP