By Olivia Bugault
Daimler AG said Friday that its first-quarter earnings will be above market expectations helped by a solid performance of Mercedes-Benz cars, citing preliminary results.
Earnings before interest and taxes should come at 5.75 billion euros ($6.88 billion) for the first three months of the year, compared with a market consensus of EUR4.97 billion, the German premium car maker said. Its adjusted EBIT should stand at EUR4.97 billion, compared with market expectations of EUR3.99 billion, it said.
"Favourable sales momentum at Mercedes-Benz Cars driven by all major regions, especially China, strongly supported the product mix and pricing in the first quarter 2021," the company said.
Industrial free cash flow is expected at EUR1.81 billion for the quarter, compared with market expectations of EUR1.1 billion, it said.
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