Daimler Oct. 23 reported its results for the third quarter, as it was informed by the company in the press release.
The key figures reflect a good performance based on improving markets and strong products, combined with diligent cost discipline and extensive cash-preservation measures.
The high free cash flow of around €5.1 billion in the quarter reflects the continuous efforts in cost-cutting and cash-preservation measures as well as the positive operating performance across all divisions. Additional positive factors are the dividend from the Chinese joint venture BBAC of €1.2 billion, positive contributions from working capital and seasonal phasing impacts. The adjusted free cash flow of the industrial business was €5,345 million (Q3 2019: €2,931 million).
Daimler AG is a multinational automobile manufacturer with its headquarters in Stuttgart (Baden-württemberg), Germany.
Daimler's net profit for the first quarter of 2020 fell 12.8 times to 168 million euros from 2.149 billion euros a year earlier. Revenue decreased by 6% to 37.2 billion euros from 39.7 billion euros. EBIT was 617 million euros against 2.798 billion euros.
JSC Mercedes-Benz RUS is a Russian company, a subsidiary of Mercedes-Benz AG. Daimler group became the first foreign automobile company to establish a subsidiary of the JSC "Mercedes-Benz Automobiles" on the territory of the Russian Federation, which was opened on December 8, 1994.
