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    DAI   DE0007100000

DAIMLER AG

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Daimler : Correction to Daimler 3Q Preliminary Earnings Article on Oct. 16

10/22/2020 | 10:36am EDT

Daimler AG reported preliminary earnings before interest and taxes of 3.07 billion euros, against a EUR1.95 billion consensus forecast provided by the company. EBIT for its Mercedes-Benz Cars & Vans division came in at EUR2.12 billion, the company said, against a EUR1.32 billion consensus forecast. Daimler Trucks & Buses reported an EBIT of EUR541 million, the company said, compared with consensus expectations of EUR350 million. "Daimler Says 3Q Beat Views; Expects Strong 4Q," on Friday at 1:37 a.m. ET, incorrectly reported the consensus figures for group EBIT, Mercedes-Benz Cars & Vans division EBIT and Daimler Trucks & Buses division EBIT. The incorrect consensus figures for group EBIT and for Mercedes-Benz Cars & Vans division EBIT, also appeared in another story on Friday, "Daimler Shares Gain After 3Q Results That Support Sector". The correct version follows:

 
 
   By Cecilia Butini 
 

Daimler AG said late on Thursday that its preliminary figures for the third quarter came in above market consensus, and that it expects a strong remainder of 2020.

The German car maker reported preliminary earnings before interest and taxes of 3.07 billion euros ($3.6 billion), against a EUR1.95 billion consensus forecast provided by the company.

EBIT for its Mercedes-Benz Cars & Vans division came in at EUR2.12 billion, the company said, against a EUR1.32 billion consensus forecast.

Daimler Trucks & Buses reported an EBIT of EUR541 million, the company said, compared with consensus expectations of EUR350 million.

Daimler Mobility's EBIT clocked in at EUR590 million against an EUR381 million consensus, Daimler said.

The company said it expects to provide an updated full-year guidance together with quarterly results on October 23.

The company added that its positive expectations for the fourth quarter are under the assumption that no further lockdowns are implemented to curb the spread of the coronavirus.

Write to Cecilia Butini at cecilia.butini@wsj.com

(END) Dow Jones Newswires

10-22-20 1035ET

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Financials
Sales 2021 172 B 204 B 204 B
Net income 2021 11 172 M 13 266 M 13 266 M
Net cash 2021 19 630 M 23 309 M 23 309 M
P/E ratio 2021 7,58x
Yield 2021 4,81%
Capitalization 82 463 M 97 763 M 97 918 M
EV / Sales 2021 0,36x
EV / Sales 2022 0,31x
Nbr of Employees 288 064
Free-Float 81,4%
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Mean consensus OUTPERFORM
Number of Analysts 27
Average target price 92,18 €
Last Close Price 79,46 €
Spread / Highest target 44,7%
Spread / Average Target 16,0%
Spread / Lowest Target -49,7%
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Managers and Directors
NameTitle
Ola Kńllenius Chairman-Management Board
Harald Emil Wilhelm Chief Financial Officer
Bernd Pischetsrieder Chairman-Supervisory Board
Markus Schńfer Chief Operating Officer
Clemens A. H. B÷rsig Member-Supervisory Board
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