Daimler: stock accelerates after Q1 results

(CercleFinance.com) - Daimler shares are up about over 2.
5% in Frankfurt on Friday morning, after the group published preliminary results for the first quarter of 2021 that are significantly above market expectations, the German car manufacturer said.

The owner of Mercedes-Benz brand in particular, announced adjusted operating profit of 4.97 billion euros, with industrial free cash flow of 2.83 billion euros, compared with the consensus of 3.99 billion euros and 1.8 billion euros respectively.

Positive sales momentum at Mercedes-Benz Cars in all regions - particularly in China - supported its product mix and prices, Daimler said, adding that it was also able to benefit from significant reductions in fixed costs.



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