July 25, 2012 / 5:45 AM / 5 years ago

RPT-Daimler confirms 2012 target as Q2 profits beat

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FRANKFURT, July 25 (Reuters) - Germany's Daimler stuck to its forecast for roughly flat underlying profits this year, when it posted on Wednesday a decline in second-quarter results that exceeded already downbeat market expectations.

Earnings before interest and taxes (EBIT) fell 13 percent to 2.24 billion euros ($2.71 billion) in the quarter, higher than the average estimate of 2.16 billion euros from a Reuters poll of 11 banks and brokerages.

The EBIT margin at its Mercedes-Benz Cars division narrowed to 8.6 percent during the quarter from 10.7 percent a year earlier.

Daimler reaffirmed it still expects EBIT from its ongoing business this year will be in the magnitude of 2011, when it was 9 billion euros. ($1 = 0.8275 euros) (Reporting by Christiaan Hetzner)

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