Daimler 2020 revenue drops 11% to €154.31B

Thursday, 18. February 2021 07:36

Daimler AG posted on Thursday its fourth-quarter earnings results, revealing that the company's 2020 revenue fell 11% compared to the previous year to land at €154.31 billion.

On the other hand, the carmaker's net profit surged 48% in the same period to reach €4.01 billion, with earnings per share soaring 53% to €3.39. A total of 2.84 million vehicles were sold by Daimler last year, 15% less compared to 2019.

In its 2021 outlook, Daimler said it expects a slight-to-significant increase in vehicle sales across the majority of markets worldwide. Furthermore, the company, commonly referred to as Mercedes-Benz, estimated 2021 revenue would reach a significantly higher level than the current one, while carbon emissions should further decline.

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Breaking the News / ND