By Kim Richters 
 

Daimler AG on Wednesday confirmed its revenue and earnings guidance for 2021, but said the semiconductor shortage will continue to affect its business and hit car sales this year.

For 2021, Daimler said it continues to expect group revenue and earnings before interest and taxes significantly above prior-year level.

However, it said sales at its Mercedes-Benz Cars business will continue to be affected by the semiconductor shortage, with third-quarter unit sales in the range of the second quarter or below, and full-year sales at prior-year level. It had previously expected full-year sales significantly above 2020.

The car maker on Wednesday also released full second-quarter figures. Net profit for the period swung to 3.60 billion euros ($4.24 billion) from a loss of EUR2 billion a year earlier amid the coronavirus pandemic. Revenue rose to EUR43.48 billion from EUR30.18 billion.

Daimler already released some preliminary figures for the period that came in above expectations, with earnings before interest and taxes of EUR5.19 billion and adjusted EBIT of EUR5.42 billion.

 

Write to Kim Richters at kim.richters@wsj.com

 

(END) Dow Jones Newswires

July 21, 2021 02:03 ET (06:03 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.
Grafico Azioni Daimler (XE:DAI)
Storico
Da Set 2021 a Ott 2021 Clicca qui per i Grafici di Daimler
Grafico Azioni Daimler (XE:DAI)
Storico
Da Ott 2020 a Ott 2021 Clicca qui per i Grafici di Daimler