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Daimler says buses unit to break even again in 2013
March 19, 2013 / 12:09 PM / 5 years ago

Daimler says buses unit to break even again in 2013

STUTTGART, Germany (Reuters) - Daimler (DAIGn.DE) said its buses business, the only unit at the car and truck company to post a loss last year, would become profitable again in 2013 helped by rising demand in Brazil.

A emergency exit sign is pictured above a logo of German car manufacturer Daimler AG, before the annual news conference in Stuttgart February 18, 2010. REUTERS/Johannes Eisele

“We will increase revenue and vehicle sales in 2013, and we will make a profit,” Hartmut Schick, head of Daimler Buses said in a statement.

    The prospect of stricter emission rules introduced in Brazil in early 2012 had prompted many customers there to bring forward investment in buses and to then refrain from purchases.

    While the business environment in Europe would “remain very challenging”, other important markets such as Brazil would return to growth in 2013, the company added.

    Daimler Buses last year lost 232 million euros (199 million pounds) before interest and tax, while its cars, trucks, vans and financial services units posted profits.

    Reporting by Hendrik Sackmann; Writing by Ludwig Burger

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