The automaker now assumes that its profit before interest and taxes (EBIT) will drop significantly this year from 19.7 billion euros last year (nearly half a trillion CZK). At the same time, he previously predicted only a small decrease in profit. The company lowered its estimate of this year’s operating margin to 7.5 to 8.5 percent from the 10 to 11 percent previously expected, Reuters wrote.
“Although some investors had expected a profit warning, we still see the news as a surprise, especially given the extent (of the downgrade in the outlook) and the absence of a statement warning before release,” said analysts at RBC.
Car company Mercedes-Benz also worsened its outlook in July due to continued weak demand for luxury cars in the Chinese market.
China is the largest car market in the world. China accounted for more than a third of Mercedes-Benz’s total sales last year.
2024-09-22 13:00:00
#car #company #MercedesBenz #worsened #outlook #shares #weakened #Garáž.cz
