Daimler expects additional cost for diesel scandal of up to 1.5 bln euros
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E-mail Xinhua, January 22, 2020
BERLIN, Jan. 22 (Xinhua) -- Daimler is expecting further additional costs of 1.1 to 1.5 billion euros (1.7 billion U.S. dollars) for the diesel scandal, according to preliminary results published on Wednesday.
The additional expenses were anticipated for "ongoing governmental and court proceedings and measures" relating to Daimler´s Mercedes-Benz diesel vehicles in various regions and markets, Daimler noted.
The additional costs of the scandal surrounding illegally manipulated exhaust emissions of diesel cars would "essentially" have a negative impact at Mercedes-Benz Cars and Mercedes-Benz Vans, Daimler noted.
As a result, the return on sales (RoS) of the division Mercedes-Benz Vans would be below the current forecast of minus 15 to minus 17 percent, according to the German car manufacturer.
For the 2019 financial year, Daimler is expecting to achieve an operating profit of 5.6 billion euros. Compared to the result of 2018 financial year of 11.1 billion euros, the operating profit would be almost halved.
According to Daimler, the profit calculation did not include the additional expenses resulting from the diesel scandal. The final business figures of the German car manufacturer are scheduled for late February. Enditem
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