Mercedes 2009 Annual Report Download - page 62

Daimler sold 1.6 million vehicles in a very difficult environment
in 2009. This was significantly lower than the prior-year number
of 2.1 million. Revenue decreased by 20% to €78.9 billion. Our
operating result (EBIT) improved as the year progressed and was
positive in the third and fourth quarters. But due to the high
losses in the first half of 2009, full-year EBIT was negative at minus
€1.5 billion and the Group recorded a net loss for the year of
€2.6 billion. The main reasons for the very weak development of
business and profitability in the first half of the year were the
severe impact on automotive markets of the global financial and
economic
crisis. We reacted to this situation quickly and effec-
tively: By taking additional measures to reduce costs as a supple-
ment to the efficiency-enhancing programs already in place,
we saved €5.3 billion. At the same time, we pushed forward with
the development of new products and expanded in new sales
markets. We were therefore able to start the year 2010 with
confi-
dence. Daimler has strong brands, exciting products, the
right
technologies and a sound financial basis – the best pre
conditions
for us to successfully meet the challenges ahead.
58