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奔驰母公司一季度盈利,多亏了中国消费者?

奔驰母公司一季度盈利,多亏了中国消费者?

CHRISTIAAN HETZNER 2021-04-19
戴姆勒将强劲的业绩归功于三个市场变量,当然,这三个变量也将使其他高端竞争对手受益:更高的销量、更高的定价和更能盈利的销售组合。

梅赛德斯-奔驰在德国南部斯图加特的分公司。图片来源:THOMAS KIENZLE—AFP/GETTY IMAGES

得益于以中国为首的全球汽车市场的良好环境,戴姆勒公司(Daimler AG)第一季度收益轻松超过分析师预期。这或将意味着,该公司第一季度财报表现喜人。

戴姆勒公司所有业务领域的盈利能力都表现优异,核心的轻型车辆部门的表现尤其振奋人心——轻型车辆部门的业绩本来受到了去年紧急成本削减的影响(价格上浮),但需求仍不断上升,业绩得到提振。

“在一个令人鼓舞的市场环境中,我们在继续实现我们的野心。”公司首席执行官Ola Källenius在一份声明中表示,“降低公司盈亏平衡点的系统性举措,成效正越来越凸显。”

根据未经审计的公司数据,该公司当季综合营业利润飙升至57亿欧元(68亿美元)以上。

这一数字超过了50亿欧元(60亿美元)的普遍预期,远远超过了一年前的6.17亿欧元(7.4亿美元)。一年前,戴姆勒公司的中国业务正受到疫情的压力。

戴姆勒将强劲的业绩归功于三个市场变量,当然,这三个变量也将使其他高端竞争对手受益:更高的销量、更高的定价和更能盈利的销售组合。对宝马(BMW)和保时捷(Porsche)等其它汽车制造商来说,强劲的业绩意味着利好——4月16日,这两家汽车制造商的汽车销量实现大幅增长。

戴姆勒旗下高端品牌梅赛德斯-奔驰(Mercedes-Benz)当季销量实现两位数增长。与此同时,其国内竞争对手宝马的汽车销量也创下纪录。

轿车和货车是梅赛德斯-奔驰收入的主要来源,调整后的营业利润率为14.3%,使其跻身保时捷等豪华品牌之列。分析师此前的利润率预期为11.7%,高于该公司自己8%-10%的预期区间。

Jefferies的股票分析师在一份研究报告中称,"尽管该行业第二季度的生产环境看起来困难重重,但此次反弹或将导致该公司评级上调。"Jefferies将该股评级为"买入",目标股价为95欧元。

戴姆勒的财务状况也有所恢复,整个业务的净资产变现能力增至201亿欧元(241亿美元),几乎是2019年底,新冠疫情大规模爆发前的两倍。

剔除4.16亿欧元(约合4.99亿美元)的重组费用和7500万欧元(约合9000万美元)的法律风险损失外,该公司的季度业绩包括12亿欧元(约合14亿美元)的一次性收益。这一收益的达成,与该公司将燃料电池资产剥离至与商用车制造商沃尔沃集团(Volvo Group)共同运营的新合资企业有关。

4月16日,该公司早盘股价上涨2.7%,至77.39欧元。今年迄今,该公司股价已上涨三分之一,超过了斯托克欧洲汽车指数(STOXX Europe automobiles index)23%的涨幅。

戴姆勒今年2月宣布,该公司将分拆为两家纯业务公司,以抵消长期以来令其股价受损的企业集团折价。

第一个公司将集中在豪华乘用车业务上。目前,该公司正忙着推出梅赛德斯EQS等新型电动汽车。而另一个公司将专注于重型卡车和公共汽车,如长途汽车Actros semi。

另外,大众汽车集团(Volkswagen Group)旗下保时捷品牌公布的季度销量显示,零售额增长了36%,这主要得益于中国和美国买家抢购其受欢迎的豪华SUV卡宴(Cayenne)和迈凯(Macan)。该公司首款纯电动汽车泰坎(Taycan)运动轿车的销量从去年同期刚上市时的1391辆跃升至9072辆。

相比之下,在持续封锁的情况下,欧洲汽车市场依然举步维艰。4月16日,欧洲汽车行业报告称,3月份汽车需求出现反弹——而这在很大程度上“得益于”前一年的巨幅疲软。尽管需求有所反弹,也仅能够抵消今年开局不佳的影响。包括英国在内,欧洲第一季度新车销量基本持平,为308万辆。(财富中文网)

编译:杨二一

得益于以中国为首的全球汽车市场的良好环境,戴姆勒公司(Daimler AG)第一季度收益轻松超过分析师预期。这或将意味着,该公司第一季度财报表现喜人。

戴姆勒公司所有业务领域的盈利能力都表现优异,核心的轻型车辆部门的表现尤其振奋人心——轻型车辆部门的业绩本来受到了去年紧急成本削减的影响(价格上浮),但需求仍不断上升,业绩得到提振。

“在一个令人鼓舞的市场环境中,我们在继续实现我们的野心。”公司首席执行官Ola Källenius在一份声明中表示,“降低公司盈亏平衡点的系统性举措,成效正越来越凸显。”

根据未经审计的公司数据,该公司当季综合营业利润飙升至57亿欧元(68亿美元)以上。

这一数字超过了50亿欧元(60亿美元)的普遍预期,远远超过了一年前的6.17亿欧元(7.4亿美元)。一年前,戴姆勒公司的中国业务正受到疫情的压力。

戴姆勒将强劲的业绩归功于三个市场变量,当然,这三个变量也将使其他高端竞争对手受益:更高的销量、更高的定价和更能盈利的销售组合。对宝马(BMW)和保时捷(Porsche)等其它汽车制造商来说,强劲的业绩意味着利好——4月16日,这两家汽车制造商的汽车销量实现大幅增长。

戴姆勒旗下高端品牌梅赛德斯-奔驰(Mercedes-Benz)当季销量实现两位数增长。与此同时,其国内竞争对手宝马的汽车销量也创下纪录。

轿车和货车是梅赛德斯-奔驰收入的主要来源,调整后的营业利润率为14.3%,使其跻身保时捷等豪华品牌之列。分析师此前的利润率预期为11.7%,高于该公司自己8%-10%的预期区间。

Jefferies的股票分析师在一份研究报告中称,"尽管该行业第二季度的生产环境看起来困难重重,但此次反弹或将导致该公司评级上调。"Jefferies将该股评级为"买入",目标股价为95欧元。

戴姆勒的财务状况也有所恢复,整个业务的净资产变现能力增至201亿欧元(241亿美元),几乎是2019年底,新冠疫情大规模爆发前的两倍。

剔除4.16亿欧元(约合4.99亿美元)的重组费用和7500万欧元(约合9000万美元)的法律风险损失外,该公司的季度业绩包括12亿欧元(约合14亿美元)的一次性收益。这一收益的达成,与该公司将燃料电池资产剥离至与商用车制造商沃尔沃集团(Volvo Group)共同运营的新合资企业有关。

4月16日,该公司早盘股价上涨2.7%,至77.39欧元。今年迄今,该公司股价已上涨三分之一,超过了斯托克欧洲汽车指数(STOXX Europe automobiles index)23%的涨幅。

戴姆勒今年2月宣布,该公司将分拆为两家纯业务公司,以抵消长期以来令其股价受损的企业集团折价。

第一个公司将集中在豪华乘用车业务上。目前,该公司正忙着推出梅赛德斯EQS等新型电动汽车。而另一个公司将专注于重型卡车和公共汽车,如长途汽车Actros semi。

另外,大众汽车集团(Volkswagen Group)旗下保时捷品牌公布的季度销量显示,零售额增长了36%,这主要得益于中国和美国买家抢购其受欢迎的豪华SUV卡宴(Cayenne)和迈凯(Macan)。该公司首款纯电动汽车泰坎(Taycan)运动轿车的销量从去年同期刚上市时的1391辆跃升至9072辆。

相比之下,在持续封锁的情况下,欧洲汽车市场依然举步维艰。4月16日,欧洲汽车行业报告称,3月份汽车需求出现反弹——而这在很大程度上“得益于”前一年的巨幅疲软。尽管需求有所反弹,也仅能够抵消今年开局不佳的影响。包括英国在内,欧洲第一季度新车销量基本持平,为308万辆。(财富中文网)

编译:杨二一

Daimler AG’s first-quarter earnings easily surpassed analyst expectations on the back of favorable conditions in global car markets led by China, suggesting a strong reporting season for Germany’s carmakers.

Profitability was strong in all areas of its business, but particularly impressive at its core light-vehicles division, where a rising tide of demand lifted results already buoyed by emergency cost cutting from last year.

“We continue to execute on our ambitions in a very encouraging market environment,” said chief executive Ola Källenius in a statement. “Our systematic efforts to lower the break-even point of the company are becoming increasingly visible.”

Consolidated operating profit at the group soared to over 5.7 billion euros ($6.8 billion) in the quarter, according to unaudited company figures.

This beat consensus estimates of 5 billion euros ($6 billion) and far surpassed the 617 million euros ($740 million) recorded a year ago, when the pandemic was already weighing on its key Chinese business.

Daimler attributed the strong results to three market variables that would also benefit other premium competitors: higher volumes, stronger pricing, and a more lucrative sales mix. The implications of the robust earnings are bullish for other carmakers such as BMW and Porsche, which posted a sharp gain in car sales on Friday.

Daimler’s premium brand Mercedes-Benz posted double-digit gains in volume for the quarter, a period in which domestic rival BMW enjoyed record vehicle sales.

Mercedes-Benz cars and vans contributed the bulk of its earnings, delivering an adjusted operating margin of 14.3% that pushed it into the lofty realms of a luxury brand like Porsche. Analysts had expected a strong 11.7% by comparison, above the company’s own 8% to 10% range.

“The magnitude of the beat will likely lead to upgrades despite what looks like a challenging production environment for the industry in Q2,” equity analysts at Jefferies said in a research note, which rates the stock a “buy” with a 95-euro price target.

Daimler’s finances also recovered with net liquidity across its industrial operations rising to 20.1 billion euros ($24.1 billion), nearly twice as high as at the end of 2019, prior to the mass outbreak of COVID-19.

Apart from 416 million euros ($499 million) in restructuring charges and another 75 million euro ($90 million) hit from legal risks, quarterly results included 1.2 billion euros ($1.4 billion) in one-off gains related to the carve-out of its fuel cell assets into a new joint venture operated together with commercial vehicle manufacturer Volvo Group.

Shares were up 2.7% at 77.39 euros in early Friday trading and have gained a third in value year to date, outpacing the 23% increase in the broader STOXX Europe autos index.

In an attempt to neutralize the conglomerate discount that had long weighed on its stock, Daimler announced in February it would split itself up into two pure-play companies.

The first would center on its premium passenger car operations, which are busy rolling out new electric vehicles such as the Mercedes EQS. The other would focus on heavy-duty trucks and buses like the long-haul Actros semi.

Separately, Volkswagen Group’s Porsche brand published quarterly volumes that saw a 36% jump in retail sales, thanks mainly to Chinese and American buyers snapping up its popular Cayenne and Macan luxury SUVs. Its first-ever battery electric vehicle, the Taycan sports sedan, saw unit sales jump to 9,072 from 1,391 in the corresponding quarter of the previous year when it had just hit markets.

By comparison the European car market continues to struggle as lockdowns continue. The region’s auto industry reported on Friday a rebound in demand in March that was flattered heavily by a historically weak month in the previous year. Nonetheless it was just enough to offset the year’s poor start, leaving first-quarter volumes largely flat with 3.08 million new cars sold, including in the U.K.

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