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article imageDaimler drives to record sales, profits in 2013

By AFP     Feb 6, 2014 in Business

German luxury auto maker Daimler achieved record sales and profits in 2013, and expects to achieve "significant" growth again this year, the company said on Thursday.

"Daimler concluded the year 2013 with record levels of unit sales, revenue, EBIT and net profit," the car maker said in a statement.

"The company anticipates renewed growth in 2014," it added.

Net profit climbed by 28 percent to 8.72 billion euros ($11.8 billion) and underlying profit, as measured by earnings before interest and tax (EBIT), was up 23 percent at 10.82 billion euros.

Unit sales grew by 7.0 percent to 2.354 million vehicles and revenues rose by 3.0 percent to 117.98 billion euros.

"2013 was a year that we didn't begin particularly well, but which we ended very successfully. Our efforts paid off," said chief executive Dieter Zetsche.

"Daimler is in very good condition. Our prospects for the future also make us confident that we will achieve our ambitious goals in all our divisions," Zetsche said.

Workers inspect Mercedes-Benz S-class passenger cars on the production line at the Daimler factory i...
Workers inspect Mercedes-Benz S-class passenger cars on the production line at the Daimler factory in Sindelfingen, southwestern Germany, on January 24, 2014
Thomas Kienzle, AFP

Based on the anticipated development of automotive markets and the divisions' planning, Daimler said it would be able to achieve "further significant growth in total unit sales in 2014.

"Daimler therefore also assumes that group revenue will grow significantly in 2014."

And in terms of earnings "Daimler assumes that group EBIT from the ongoing business will increase significantly in 2014," it added.

Daimler said it would propose increasing the dividend payout to shareholders to 2.25 euros per share from 2.20 euros a year earlier.

A worker fixes a Mercedes-Benz star on the hood of a Mercedes-Benz S-class passenger car on the prod...
A worker fixes a Mercedes-Benz star on the hood of a Mercedes-Benz S-class passenger car on the production line at the Daimler factory in Sindelfingen, southwestern Germany.
Thomas Kienzle, AFP

"With the increase in the dividend, we are letting our shareholders participate in the company's success and at the same time expressing our confidence about the ongoing business development," said chief financial officer Bodo Uebber.

Investors appeared to be pleased by the group's positive outlook and Daimler shares were the second-biggest gainers on the Frankfurt stock exchange, adding 3.02 percent to 62.72 euros in a slightly firmer market.

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