Daimler reports negative Group EBIT for 2009
After a difficult first half of the year, Daimler succeeded in continuously improving its EBIT in the third and fourth quarters. EBIT from ongoing business increased again to plus €0.6 billion ($817 million) in the fourth quarter of 2009, resulting in full-year EBIT of minus €1,513 million / $2 million (2008: plus €2,730 million or $3.7 million).
The Group’s net loss was significant at €2,644 million / $3.6 million (2008: plus €1,414 million or $1.92 million). Earnings per share amounted to minus €2.63 or $3.58.
Due to the net loss, the Board of Management recommends to the Supervisory Board that no dividend should be distributed for 2009. This decision is solely a reflection of the course of business in 2009 and is not related to the Group’s expected business development this year.
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Source: BenzInsider.com - The Official Mercedes-Benz Fan Blog
