Daimler cut hours for 18,500 workers at two plants in Germany waiting for more chips.<\/figcaption><\/figure><\/div>\n\n\n\nRevenue grew by 44% to 43.5 billion euros, or $51.5 billion, for the second quarter. Earnings before interest and taxes or EBIT more than tripled to 5.1 billion euros compared to 1.6 billion euros in the same period last year. Net profit was 3.7 billion euros, or $4.36 billion, compared to a net loss of 1.9 billion euros, or $2.24 billion, for the second quarter of 2020. <\/p>\n\n\n\n
The strong results were led by Mercedes-Benz Cars and Vans, which posted double-digit margins for the third quarter in a row \u2014 despite the semiconductor issue. <\/p>\n\n\n\n
\u201cThe entire industry is currently struggling with longer delivery times, which unfortunately also affect our customers. We are doing what we can to minimize the impact. Given the high demand for our vehicles, delivery to our customers has top priority,” K\u00e4llenius said in a statement. <\/p>\n\n\n\n
He added Daimler\u2019s EBIT and free cash flow is significantly above expectations. The high profitability is courtesy of a very healthy topline development and also strict cost discipline across all divisions. <\/p>\n\n\n\n
The net industrial liquidity is on a healthy level. And as I said, it’s been a quarter of strategy acceleration with a focus on electric vehicles and digitization. But also an important quarter on the path to what we call project focus, splitting Daimler into two pure-play industrial units, which should be complete by the end of the year, he said.<\/p>\n","protected":false},"excerpt":{"rendered":"
Germany\u2019s Daimler AG reported a profit for the second quarter of 2021, turning the tide from losses for the same period last year. The strong results came on the back of its Mercedes-Benz Cars and Vans, which boasted double-digit margins despite difficulties tied to the semiconductor shortage, reports TheDetroitBureau.com.<\/p>\n","protected":false},"author":20009,"featured_media":206055,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","footnotes":""},"categories":[7,8,5,1164,1347],"tags":[1792,1689,1793,1794,1690],"make":[],"post-state":[335],"category_old":[],"acf":[],"_links":{"self":[{"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/posts\/206054"}],"collection":[{"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/users\/20009"}],"replies":[{"embeddable":true,"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/comments?post=206054"}],"version-history":[{"count":5,"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/posts\/206054\/revisions"}],"predecessor-version":[{"id":206061,"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/posts\/206054\/revisions\/206061"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/media\/206055"}],"wp:attachment":[{"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/media?parent=206054"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/categories?post=206054"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/tags?post=206054"},{"taxonomy":"make","embeddable":true,"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/make?post=206054"},{"taxonomy":"post-state","embeddable":true,"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/post-state?post=206054"},{"taxonomy":"category_old","embeddable":true,"href":"https:\/\/thedetroitbureau.com\/wp-json\/wp\/v2\/category_old?post=206054"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}