Daimler confirms 2018 group EBIT outlook despite mobility deal delay

Business

The Daimler logo is seen before the Daimler annual shareholder meeting in Berlin, Germany, April 5, 2018. REUTERS/Hannibal Hanschke

FRANKFURT (Reuters) – Daimler (DAIGn.DE) said a proposed deal to combine its mobility services company with that of rival BMW (BMWG.DE) will not close this year, forcing the carmaker to lower the outlook for its financial services division.

Daimler said the delay means it will not be able to book valuation and earnings gains this year, causing the financial services division’s 2018 earnings before interest and taxes (EBIT) to come in significantly below prior year’s level.

The valuation gains are now expected to be booked in 2019, Daimler said. The carmaker further said its 2018 full year EBIT forecast on a group level remains unchanged.

Reporting by Edward Taylor; Editing by Douglas Busvine

Products You May Like

Articles You May Like

No clear path for California as massive PG&E utility nears bankruptcy
Ex-Chicago policeman sentenced to nearly seven years in black teen’s death
Trian to skip PPG board challenge after new commitments: sources
Snap CFO Tim Stone to resign less than a year into role
La Policía detiene al alcalde de Verges Ignasi Sabater por desórdenes públicos

Leave a Reply

Your email address will not be published. Required fields are marked *