Mercedes 2015 Annual Report Download - page 78

B | COMBINED MANAGEMENT REPORT | PROFITABILITY 85
The reconciliation of segment earnings to Group EBIT resulted
in significantly lower income than in the previous year. The
previous year was affected in particular by the income from the
disposal of the shares in Rolls-Royce Power Systems Holding
GmbH (RRPSH) and the remeasurement and sale of the shares
in Tesla Motors Inc. (Tesla) as well as the expenses from the
related hedging instruments totaling €1,482 million. Expenses
connected with the ongoing antitrust investigations of Euro-
pean truck manufacturers by the EU Commission reduced
earnings by €600 million in the previous year.
The special items affecting earnings in the years 2014 and 2015
are shown in table

B.14 .
Due to the favorable business development in all divisions,
Daimler was able to significantly exceed its prior-year EBIT from
ongoing business of €10.1 billion, achieving €13.8 billion
in 2015, which is in line with our expectations as stated in the
Outlook section of Annual Report 2014.

B.12
EBIT
The Daimler Group achieved an EBIT of €13.2 billion in 2015
(2014: €10.8 billion).

B.12

B.13
The Mercedes-Benz Cars division in particular significantly sur-
passed its prior-year earnings as a result of further growth in
unit sales. This was primarily due to the new C-Class in its first
full year, as well as the expanded product range in the SUV
segment (including the GLA). Daimler Trucks and Mercedes-Benz
Vans significantly surpassed their prior-year earnings. Both
divisions achieved growth in unit sales mainly in the NAFTA
region and Europe. Daimler Buses achieved higher earnings
than in 2014. Daimler Financial Services once again significantly
surpassed its prior-year earnings, mainly as a result of its
increased contract volume.
The development of currency exchange rates and lower expenses
due to increased discount rates had a positive impact on oper-
ating profit. Also, the increasing effect of the implemented
efficiency measures contributed to higher EBIT.
Special items resulted in expenses for the Group in 2015. In
particular, expenses of €340 million from a recall in connec-
tion with Takata airbags at the Mercedes-Benz Cars and the
Mercedes-Benz Vans division, expenses connected with the
restructuring of the Group’s own dealer network in a net amount
of €144 million across all automotive divisions and public-
sector levies related to prior periods of €121 million at the
Mercedes-Benz Cars division led to negative effects on
earnings.
Profitability
B.12
EBIT by segment
EBIT EBIT from ongoing business
2015 2014 15/14 2015 2014 15/14
In millions of euros % change % change
Mercedes-Benz Cars 7,926 5,853 +35 8,343 5,964 +40
Daimler Trucks 2,576 1,878 +37 2,742 2,073 +32
Mercedes-Benz Vans 880 682 [phone] +49
Daimler Buses 214 197 [phone]
Daimler Financial Services 1,619 1,387 +17 1,619 1,387 +17
Reconciliation -29 755 . -29 -127 -77
Daimler Group 13,186 10,752 +23 13,829 10,146 +36