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Daimler: stock stalls after preliminary numbers

(CercleFinance.com) - The Daimler share is down 1% in Frankfurt on Wednesday, after the German car maker announced preliminary figures for 2019, including operating profit of 5.
6 billion euros, a staggering half the 11.1 billion euros reported the previous year.

"Not included therein are anticipated additional expenses for ongoing governmental and court proceedings and measures relating to Mercedes-Benz diesel vehicles in various regions and markets," the German group said.

These expenses are expected to reach between 1.1 billion and 1.5 billion euros, and would mainly impact Mercedes-Benz Cars and Mercedes-Benz Vans. Therefore, the profitability of the Mercedes-Benz Vans division will be lower than the current forecast of -15% to -17%.

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