March 27, 2018 / 2:15 PM / a month ago

Daimler changes outlook for Mercedes-Benz Cars, Buses

FRANKFURT (Reuters) - Daimler AG (DAIGn.DE) on Tuesday said accounting changes will result in a changed outlook for its core Mercedes-Benz Cars division as well as for its buses unit.

The Mercedes-Benz logo is seen before the company's annual news conference in Stuttgart, Germany, February 4, 2016. REUTERS/Michaela Rehle/File Photo

Daimler has adjusted the way revenues are booked by implementing accounting standards IFRS 9 and 15 which changes the way financial instruments are booked, the Stuttgart-based carmaker said.

    “For each of Mercedes-Benz Cars and Daimler Buses, Daimler anticipates earnings before interest and taxes (EBIT) slightly above the prior-year level. The outlook for the other divisions’ earnings remains unchanged,” Daimler said in a statement on Tuesday.

    Adjusting for the new standards, group revenue in 2017 was 164.2 billion euros rather than a previously stated 164.3 billion euros. Group EBIT in 2017 is now 14.3 billion euros rather than 14.7 billion euros a previously stated.

    Reporting by Edward Taylor; Editing by Arno Schuetze

    0 : 0
    • narrow-browser-and-phone
    • medium-browser-and-portrait-tablet
    • landscape-tablet
    • medium-wide-browser
    • wide-browser-and-larger
    • medium-browser-and-landscape-tablet
    • medium-wide-browser-and-larger
    • above-phone
    • portrait-tablet-and-above
    • above-portrait-tablet
    • landscape-tablet-and-above
    • landscape-tablet-and-medium-wide-browser
    • portrait-tablet-and-below
    • landscape-tablet-and-below