Mercedes 2013 Annual Report Download - page 82

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86
EBIT
The Daimler Group achieved EBIT of €10.8 billion in 2013,
which is significantly higher than the prior-year level
(2012: €8.8 billion).
C.12
C.13
The growth in earnings primarily reflects the good develop-
ment of the automotive divisions’ unit sales and the increasing
impact of the efficiency programs. Despite the good develop-
ment of unit sales, earnings decreased at Mercedes-Benz Cars
due to the changes in the product mix as well as advance
expenditure for new products; at Daimler Trucks, particularly
warranty costs and exchange rate effects led to a slight
decrease in EBIT. Mercedes-Benz Vans and Daimler Buses
achieved higher earnings than in the previous year. The
EBIT posted by Daimler Financial Services was in the magnitude
of the previous year.
Lower expenses related to the compounding of non-current
provisions and the effects of lower discount rates also boosted
Group EBIT (€95 million; 2012: €504 million). The development
of currency exchange rates had an opposing, negative impact
on earnings.
Earnings in both years were influenced by the sale of EADS
shares: In 2013, the remeasurement and sale of the remaining
7.4% of EADS shares resulted in a gain of €3,223 million;
in 2012, the sale of 7.5% of the shares of EADS resulted in a gain
of €913 million. Impairments recognized on investments in
the area of alternative drive systems reduced Group EBIT by €174
million (2012: €51 million). Expenses of €116 million were
recognized for workforce adjustments in the context of an opti-
mization program of Daimler Trucks in Germany and Brazil.
The repositioning of the European and American business
of Daimler Buses resulted in expenses of €39 million in 2013
(2012: €155 million).
Profitability.
Development of earnings
In billions of euros EBIT
Net profit (loss)
10
12
8
6
4
2
0
2009 2010 2011 2012 2013
-2
-4
C.13
C .12
EBIT by segment
2013 2012113/12
In millions of euros % change
Mercedes-Benz Cars 4,006 4,391 -9
Daimler Trucks 1,637 1,695 -3
Mercedes-Benz Vans 631 543 +16
Daimler Buses 124 -221 .
Daimler Financial Services 1,268 1,293 -2
Reconciliation 3,149 1,119 +181
Daimler Group 10,815 8,820 +23
1 The prior-year figures have been adjusted primarily due
to the effects of the application of the amended IAS 19.
Further information on the adjustments is provided in Note 1
of the Notes to the Consolidated Financial Statements.