Mercedes 2012 Annual Report Download - page 87

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92
EBIT
The Daimler Group achieved EBIT of €8.6 billion in 2012
(2011: €8.8 billion).
3.11
3.12
The development of earnings reflects further increases in
unit sales at Mercedes-Benz Cars and Daimler Trucks, despite
partially difficult market conditions. Unit sales by Daimler
Buses and Mercedes-Benz Vans decreased, however. A shift
in the regional structure of unit sales, a less favorable model mix
and higher expenses in connection with the expansion of the
product portfolio at Mercedes-Benz Cars and the current product
offensive at Daimler Trucks also had an impact on Group
EBIT. In addition, Mercedes-Benz Vans incurred expenses
in connection with the impairment of the Chinese joint venture
Fujian Benz Automotive Corporation. Daimler Financial Services
achieved earnings at the prior-year level. The development
of currency exchange rates had an overall positive effect on
Group EBIT.
EBIT also includes significantly higher expenses from the
compounding of non-current provisions as well as effects from
lower discount rates (2012: €543 million; 2011: €225 million).
The repositioning of the European and North American busi-
ness systems of Daimler Buses, which was decided upon
in the first quarter of 2012, resulted in expenses of €155 million.
The sale of 7.5% of the shares in EADS resulted in a gain
of €709 million in the reporting period.
In 2011, charges of €80 million were recognized at Daimler
Trucks and Daimler Financial Services in connection with
the natural disaster in Japan. Group EBIT for that year also
included charges from the impairment of Daimler’s investments
in Renault (€110 million) and Kamaz (€32 million).
The special items affecting earnings in the years 2012 and
2011 are listed in the table.
3.13
Profitability
3 .11
EBIT by segment
2012 2011 12/11
In millions of euros % change
Mercedes-Benz Cars 4,389 5,192 -16
Daimler Trucks 1,714 1,876 -9
Mercedes-Benz Vans 541 835 -35
Daimler Buses -232 162 .
Daimler Financial Services 1,292 1,312 -2
Reconciliation 911 -622 .
Daimler Group 8,615 8,755 -2
Development of earnings
In billions of euros EBIT
Net profit (loss)
10
8
6
4
2
0
2008 2009 2010 2011 2012
-2
-4
3.12