March 28, 2018 / 12:26 PM / a month ago

BRIEF-‍BMW And Daimler Agree To Combine Mobility Services​

March 28 (Reuters) - BMW, DAIMLER:

* DAIMLER - ‍BMW GROUP AND DAIMLER AG AGREE TO COMBINE MOBILITY SERVICES​

* ‍EACH COMPANY WILL HOLD A 50-PERCENT STAKE IN A JOINT-VENTURE MODEL COMPRISING BOTH COMPANIES’ MOBILITY SERVICES​

* , DAIMLER - ‍TWO COMPANIES WILL REMAIN COMPETITORS IN THEIR RESPECTIVE CORE BUSINESSES​

* , DAIMLER - ‍FORMATION OF JOINT VENTURE WILL PRODUCE A SIGNIFICANT VALUATION AND EARNINGS EFFECT AT DAIMLER FINANCIAL SERVICES​

* , DAIMLER - ‍PLAN TO COMBINE, STRATEGICALLY EXPAND EXISTING ON-DEMAND MOBILITY OFFERING IN CARSHARING, RIDE-HAILING, PARKING, CHARGING AND MULTIMODALITY​

* DAIMLER AG - IF APPROVAL IS RECEIVED THIS YEAR, COMPANY EXPECTS EBIT FOR DAIMLER FINANCIAL SERVICES TO BE SIGNIFICANTLY HIGHER THAN PREVIOUS YEAR​

* ‍DAIMLER AG - FOR DAIMLER GROUP AS A WHOLE, THIS MEANS EBIT IS LIKELY TO BE SLIGHTLY HIGHER THAN PREVIOUS YEAR​

* DAIMLER - IF DEAL IS APPROVED, IT WILL ‍EXPECT EBIT FOR DAIMLER FINANCIAL SERVICES TO BE SIGNIFICANTLY HIGHER THAN PREVIOUS YEAR

* DAIMLER - FOR DAIMLER GROUP AS A WHOLE, THIS MEANS EBIT IS LIKELY TO BE SLIGHTLY HIGHER THAN PREVIOUS YEAR​

* ‍ IF APPROVAL IS RECEIVED THIS YEAR, FORMATION OF JOINT VENTURE WILL TRIGGER A ONE-TIME VALUATION AND EARNINGS EFFECT IN BMW AG’S GROUP FINANCIAL STATEMENT​

* ‍PRE-TAX EARNINGS ON GROUP LEVEL WOULD INCREASE SLIGHTLY IN 2018 COMPARED WITH PREVIOUS YEAR​

* ‍VALUATION AND EARNINGS EFFECT WOULD HAVE NO IMPACT ON EBIT MARGIN IN AUTOMOTIVE SEGMENT​

* ‍FORMATION OF JOINT VENTURE WILL LEAD TO AN ADJUSTMENT OF BMW'S GUIDANCE​ Source text - bit.ly/2E1li8r Further company coverage: (Gdynia Newsroom)

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