dmlry - DMLRY STOCK NEWS

Mercedes-Benz AG announced a leadership change, with Marcus Breitschwerdt transitioning from Head of Mercedes–Benz Vans to oversee brand heritage and classic business starting January 1, 2022. Mathias Geisen, currently Head of Corporate Strategy, will succeed him. Geisen has extensive experience within the company, having held various roles since 1998, including leading van sales outside Europe and overseeing product management for SUVs and electric vehicles. This realignment aims to enhance the company's focus on electric mobility and strengthen its luxury brand positioning.

Daimler AG reported stable performance in Q3 2021 amid semiconductor shortages, with group revenue at €40.1 billion and net profit of €2.573 billion, up from €2.158 billion in Q3 2020. Unit sales fell by 25% to 577,800 vehicles. Despite lower production, EBIT rose to €3.579 billion, driven by a strong product mix. The company expects EBIT for the full year to exceed 2020 levels and anticipates an improved semiconductor situation in Q4. Free cash flow was €2.249 billion, a decrease from €5.139 billion in the previous year.

On October 1, 2021, Daimler AG (DAI) held a virtual Extraordinary General Meeting where shareholders overwhelmingly approved a historic realignment. The spin-off of the truck and bus segment to form Daimler Truck Holding AG will result in the company's first stock-exchange listing by the end of 2021. Additionally, the company will be renamed Mercedes-Benz Group AG effective February 1, 2022, emphasizing its focus on passenger vehicles. The meeting had 56.45% capital stock participation, with significant votes supporting both the spin-off and renaming.

Daimler AG announces a historic realignment at its Extraordinary General Meeting, planning to spin off Daimler Truck by the end of 2021. Following this move, shareholders will receive shares in the newly listed Daimler Truck Holding AG, while Daimler AG will focus on luxury cars and vans, renaming itself to Mercedes-Benz Group AG by February 2022. The spin-off aims to unlock growth opportunities, enhance profitability, and create value for stakeholders. Daimler will retain a 35% stake in the new company, which is expected to join the DAX share index by early 2022.

The City of Long Beach has formed a partnership with Mercedes-Benz Research & Development North America and Xtelligent to enhance urban transportation. This initiative aims to improve traffic management and support environmental sustainability over a 10-month project period. It will include testing intelligent traffic controls, analyzing data from connected vehicles, and conducting STEM workshops for local youth. The partnership aligns with Long Beach's Smart City Initiative, focusing on leveraging technology for civic improvement, and emphasizes responsible data management throughout the project.

Daimler AG announces a significant realignment, preparing to spin off its truck division into Daimler Truck Holding AG. Shareholders will receive one additional share of the new company for every two shares of Daimler AG held. Daimler retains a 35% stake, with plans for an independent listing by year-end 2021. The extraordinary general meeting is scheduled for October 1, 2021. The move aims to enhance operational efficiency and focus on core businesses, with Mercedes-Benz Group AG emphasizing luxury vehicles. The truck division generated €18.7 billion in H1 2021 revenue.

Mercedes-Benz announced its ambitious plan to transition to electric-only vehicles by 2025, launching three new electric architectures. The company aims for all newly launched models to have an electric option, supported by over €40 billion in investments for battery electric vehicles (BEV) from 2022 to 2030. With plans for eight Gigafactories and a commitment to vertical integration, including the acquisition of YASA, Mercedes-Benz intends to enhance its EV offerings and maintain profitability while achieving a carbon-neutral production by 2022.

Daimler AG reported strong Q2 2021 results with unit sales surging 36% to 736,400 vehicles, driving revenue up 44% to €43.5 billion. EBIT reached €5.2 billion, rebounding from last year's loss, while net profit stood at €3.7 billion versus a net loss of €1.9 billion in Q2 2020. The company maintains an industrial free cash flow of €2.6 billion and net liquidity of €20.9 billion. Despite challenges from semiconductor shortages, Daimler anticipates significant revenue and EBIT growth this year. A spin-off of Daimler Truck is on track, promising potential value creation for shareholders.

Mercedes-Benz Cars & Vans reported strong Q2 results, overcoming semiconductor shortages, thanks to effective product mix and cost control. Notably, Daimler Trucks & Buses saw increased sales and profitability across regions. Key figures include an industrial free cash flow of €2,586 million, exceeding expectations, and a Daimler Group EBIT of €5,185 million. The adjusted EBIT for Mercedes-Benz is €3,437 million, reflecting resilience with double-digit margins. Despite challenges, the company maintains a robust outlook, driven by an attractive vehicle lineup and emphasis on profitable growth.