Reviews Mercedes sees sales stabilization at the end of the year: Interview

11:25  15 september  2021
11:25  15 september  2021 Source:   rp-online.de

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(Bloomberg) - Mercedes-Benz expects a stabilization of the paragraph in the fourth quarter and continues to strive for margins in the double-digit area despite the burdens by global bottlenecks for semiconductors in the full year. That said Daimler's financial board Harald Wilhelm in the interview with Bloomberg.

The demand for vehicles of Mercedes in China, Europe and North America remain very strong, so the manager. The existing bottlenecks in the chip supply would have been tightened again by the recent factory closures in Malaysia.

for Mercedes, the most important business area, one expects "currently for the fourth quarter a more normal paragraph, expected at the level of the first or second quarter, but still far below our previous planning," said Wilhelm. For 2021, the unit continues to seek an operational margin between 10% and 12%.

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CEO OLA Källenius said this month that scarce chips would trigger a significant decline in sales in the current quarter, and warned, the supply problems should not be completely overcome next year. However, while the crisis affects production, but she also caused the car maker to prefer the most profitable cars. Therefore, the profitability of Mercedes is likely to rise to a level no longer achieved for years.

The current profitability level should be maintained, so financial board Wilhelm, although costs such. B. travel expenses are likely to rise again after the decay of the pandemic.

"Our recent results show that we made progress in reducing our profit threshold," said the CFO. "We have the firm intention to keep our focus on cost discipline and prove that we can hold the current margin level."

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The maintenance of high profitability would be an important step on the way to the desired revaluation of the Daimler share, which also through The planned separation of Daimler Truck is to be obtained in the course of the year. The shareholders will vote on an extraordinary general meeting on the cleavage on October 1.

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Daimler has announced that Mercedes will retain a share of 35% of its truck tocher. The automobile manufacturer has committed itself to keep the shares for three years. However, the agreement contains an option that can sell Daimler shares after a year.

investors and analysts praised the spin-off of the truck business. However, the share is still traded at lower profit multipliers as a manufacturer of luxury goods and technology.

"The current evaluation does not completely reflect the potential of the company, but should be visible in December after completion of the separate listing of the truck unit," says Wilhelm.

Headline in the original:

Mercedes Sees Sales Stabilizing at Year-End Amid Chip Turmoil

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