Daimler annual profit sinks 60%, dividend slashed
Next year, the company expects to sell slightly fewer cars than in 2019
Stocks impacted: Daimler AG (DAI)
Daimler AG unveiled its preliminary results for the fiscal year 2019 ended December 31, 2019. Revenue was €172.7 billion versus €167.4 billion in 2018, an increase of 3%. The full-year EBIT arrived at €4.3 billion versus €11.1 billion previously. The German car maker posted a net loss of 11.0 million euros in the fourth quarter compared with net profit of EUR1.64 billion a year ago. Revenue for the quarter rose to EUR47.13 billion compared to EUR46.61 billion the year before. The car maker proposed a dividend of EUR0.90 a share, slashing it from EUR3.25 in 2018. For 2020, the company said it expects to sell slightly fewer cars than in 2019, and its revenue to remain stable year-on-year.
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