Daimler braces capital markets for lower profits in 2020 and 2021 as it restructures for the future
By Jim Gibbins - 1st December 2019
Germany – At a capital markets day held in mid-November, executives at Daimler AG of Stuttgart, Germany announced radical restructuring to transition the company to a carbon neutral future. Ola Källenius, chairman of Daimler AG and Mercedes-Benz AG, said: “We are positioning the company for the transformation with a clear strategy for the future. The expenditure needed to achieve the CO2 targets require comprehensive measures to increase efficiency in all areas of our company. This also includes streamlining our processes and structures. This will have a negative impact on our earnings in 2020 and 2021. To remain successful in the future, we must therefore act now and significantly increase our financial strength.” It would also lead to significant reductions in personnel costs by the end of 2022, Daimler stated.
Plans for Mercedes-Benz Cars & Vans
