Mercedes-Benz AG : Q1 even weaker than expected, below guidance and consensus
>Q1 below dragged by weak profitability for Cars - Mercedes-Benz this morning reported Q1 results that came in weak and below expectations (adj. EBIT 5% below consensus with Cars 10% below). MBG reported Q1 revenues of €35.9bn, -4% y-o-y, broadly in line with expectations (company-compiled css €35.2bn, ODDO BHF € 34.9bn), while adj. EBIT was € 3.60bn, down -34% y-o-y, below expectations (css € 3.79bn, ODDO BHF € 4.01bn), and net profit was € 3.0bn, -25% y-o-yHow...Daimler provides a range of transportation products, including passenger cars and commercial vehicles, and also financial services. Co. operates in five segments. Mercedes-Benz Cars sells passenger cars and off-road vehicles under the Mercedes-Benz brand and small cars under the smart brand. The Daimler Trucks distributes its trucks (Mercedes-Benz, Freightliner, FUSO, Western Star, Thomas Built Buses and BharatBenz). The vans of the Mercedes-Benz Vans segment are sold under the brand name Mercedes-Benz and Freightliner. Daimler Buses sells completely built-up buses (Mercedes-Benz and Setra). The Daimler Financial Services division supports sales of Co.'s automotive brands.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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