Germany’s Daimler trucks sees turnaround, forecasts 2010 operating profit of $272 million
By APWednesday, March 10, 2010
Daimler trucks sees market turnaround in 2010
FRANKFURT — German car and truckmaker Daimler AG says it expects a turnaround in the global truck market and an improvement in the truck division’s 2010 earnings before interest and taxes.
The Stuttgart-based company said Wednesday the truck division hopes to earn euro200 million ($272 million) in EBIT in 2010 from an EBIT loss of euro1 billion in 2009. The 2009 loss was a result of weak demand in the downturn and restructuring charges.
Daimler says the truck division’s 2009 revenue fell 36 percent to euro18.4 billion. For the full year 2009, it sold 259,382 trucks — a decline of 45 percent.
Daimler is the world’s largest truckmaker with brands including Mercedes-Benz, Freightliner and Mitsubishi-Fuso.
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