(Updates with comments from the CFO from eighth paragraph, 12 analyst comment).
April 29 (Bloomberg) - Daimler AG, the second world - large manufacturer of luxury cars, reported a gain of 71 per cent in the first quarter operating profit that the culture of wealth in China deliveries stimulated sedan Mercedes-Benz class s profit before interest and taxes increased to 2.03 billion euros (3.01 billion) (from $ 1.19 billion euros a year earlier, Daimler based in Stuttgart (Germany), said today in a statement. Profit matched the mean estimate of 2 billion dollars-euro 12 analysts interviewed by Bloomberg.China more and more the economy is fueling record demand for luxury of Mercedes, Bayerische Motoren Werke AG and Volkswagen AG Audi cars. VW reported this week that Ebit has more than tripled 2.91 billion euros supported by demand for models Audi in China, while VW Lamborghini supercar unit can sell more vehicles only to the United States for the first time this year. "" By Volkswagen figures report a few days ago, it is much less dynamic ", said Juergen Pieper, an analyst based in Frankfurt with Bankhaus Metzler, which recommends the purchase of the shares. "The results are nothing special."Daimler, which is also largest truckmaker in the world, has not followed the profitability of competitors. First quarter Ebit of Mercedes-Benz to 9.3% of revenue towed margin of 10.6% Audi. Return on sales posted by unit of Daimler trucks of 6.6% is under Volvo AB 9.4%. Net income of Daimler increased 59% to€ 1.06 billion as income earned 17 percent to EUR 24.7 billion.FallsDaimler stock fell as much as € 1.33, or 2.5%, with 51.76 euros, the intraday drop steeply in two weeks and down 2.2% starting from 10 h 29 in Frankfurt trading. The stock increased 2.4 percent this year, valuing the company at EUR 55.4 billion.The company held to its forecast for "significant" Ebit higher in 2011 that last year 7.2 billion euros. Daimler expects prospects for the C-class updated and reorganized roadster SLK to outweigh the potential impact of the earthquake of last month at the Japan, which led to EUR 78 million in costs in the first quarter.Additional charges of€ 50 million to 100 million euros related to the earthquake may be reserved for the second quarter, Chief Financial Officer Bodo Uebber said today on a conference call.Faster growth of 125 years German constructor TargetedThe aims to exceed the growth of the global automotive markets, Daimler estimated that 5 to 7 percent this year, said Uebber. Deliveries increased by 13% in the first quarter to 281,000 cars, supported by a jump of 25 percent in shipments of class s and a wave of 78% of the demand from China. Audi vehicle sales increased by 18%.Mercedes-Benz will introduce a new version compact class b later this year. The model is the first of a series of four new small cars. Daimler is building a plant in Hungary to support the expansion, which is part of a strategy to reduce emissions of fuel average and win young drivers. Mercedes will also present a redesigned 2011 M-class sport utility vehicle. EBIT of Mercedes-Benz cars is 60% in the quarter to EUR 1.29 billion.Truck ProfitLike other truckmakers, Daimler has to recover in North America and Europe demand for heavy trucks, the global financial crisis. The company, which owns truckmaker Kawasaki, Japan Fuso as well as Freightliner based, to the United States said the trucks unit operating profit more than tripled to EUR 130 million EUR 415 million a year earlier. "" It is a disappointment, "said Arndt Ellinghorst, an analyst based in London with Credit Switzerland, with a neutral rating on the stock. Margins to Daimler Trucks "are well below Volvo, and it is their main competitor.Truck division has a load of 49 million euros related to damages and loss of production caused by the earthquake of 11 March to Japan, where planting a Fuso are still exercise production after closure after the disaster. Daimler booked charges of 29 million euros to take financial services unit has lost potential claims because of the earthquake.Contentée comparison with Volvo Uebber, saying that best months are coming for the Daimler truck division and that competition with the Swedish manufacturer is decided by a quarter.Daimler and manufacturer of aircraft London Rolls Royce Group Plc-based engine jointly seek to buy Tognum AG, a manufacturer of engines in which Daimler holds a participation of 28.4%. The manufacturer is committed to its participation in the offer, which expires on May 18 that contenders have blocked a 24-a-part euro bid, even if the stock Tognum flew over the offer price. Uebber, reiterated today that Rolls Royce and Daimler don't see a reason to increase the price.-Editors: Tom Lavell, Chad Thomas
To contact the reporter on this story: Chris Reiter in Berlin at the creiter2@bloomberg.net
To contact the editor responsible for this story: Thomas Chad at the cthomas16@bloomberg.net
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