DaimlerChrysler Increases Operating Profit More Than Fourfold in 2002
* Group operating profit excluding one-time effects of US $6.1 billion
(including one-time effects US $7.2 billion)
* Net income excluding one-time effects of US $3.5 billion (including
one-time effects US $4.9 billion)
* Earnings per share excluding one-time effects of US $3.46 (including
one-time effects US $4.91)
* Board of Management proposes a dividend of US $1.57 per share for 2002,
an increase of 50% compared to 2001
STUTTGART, Germany and AUBURN HILLS, Mich., Feb. 4 -- DaimlerChrysler (stock-exchange abbreviation: DCX) has announced
preliminary key figures for the Group's performance in the 2002 financial
year. An operating profit excluding one-time effects of US $6.1 billion was
achieved (2001: US $1.4 billion). Operating profit including one-time effects
amounted to US $7.2 billion after an operating loss of US $1.4 billion in
2001. Despite difficult market conditions, DaimlerChrysler's operating profit
was thus more than four times as high as in the prior year.
(Logo: http://www.newscom.com/cgi-bin/prnh/20020212/DCXLOGO )
In the first nine months of 2002, operating profit included net one-time
effects of US $1.7 billion. DaimlerChrysler published details of these in the
context of its quarterly interim reports. In the fourth quarter of the year
2002, Commercial Vehicles recorded one-time charges of US $474 million. These
charges were primarily caused by increased structural changes in the
Mercedes-Benz Trucks, DaimlerChrysler Buses and Coaches, DaimlerChrysler
Powersystems and Mercedes-Benz Vans business units. In the Services division
there were additional charges of US $176 million due to write-downs in
connection with the sale of parts of the Capital Services portfolio.
Net income excluding one-time effects rose to US $3.5 billion (2001: US
$0.8 billion), while earnings per share excluding one-time effects amounted to
US $3.46 (2001: US $0.77).
Net income including one-time effects amounted to US $4.9 billion (2001:
net loss of US $0.7 billion), and earnings per share including one-time
effects US $4.91 (2001: a loss per share of US $0.69).
DaimlerChrysler's total revenues in the year 2002 decreased by 2% to US
$156.8 billion. Adjusted for changes in the consolidated Group and exchange
rate effects, revenues increased by 1.6%.
The Board of Management proposes to the Supervisory Board to distribute a
dividend of US $1.57 per share for 2002 (2001: US $1.05), a 50% increase. The
final decision on the dividend will be taken by the Annual Meeting to be held
in Berlin on April 9,2003.
DaimlerChrysler will present details and explanations of the 2002
financial statements at the Annual Press Conference on February 20, 2003.
(For the reader's convenience, the financial information has been
translated from euros into United States dollars at an assumed rate of
1 euro = $1.0485.
The convenience translation does not mean that the euro amounts actually
represent the corresponding dollar amount stated or could be converted into
dollars at the assumed rate.)
This document contains forward-looking statements that reflect the current
views of DaimlerChrysler management with respect to future events. The words
"anticipate," "believe," "estimate," "expect," "intend," "may," "plan,"
"project" and "should" and similar expressions are intended to identify
forward-looking statements. Such statements are subject to risks and
uncertainties, including, but not limited to: changes in general economic and
business conditions, especially an economic downturn in Europe or North
America; changes in currency exchange rates and interest rates; introduction
of competing products; lack of acceptance of new products or services,
including increased competitive pressures on the general level of sales
incentives and pricing flexibility; inability to implement the turnaround
plans for the Chrysler Group and Freightliner promptly and successfully,
especially an inability to meet revenue enhancement, efficiency and cost
reduction initiatives; the ability of Mitsubishi Motors to implement its
restructuring plan successfully; and decline in resale prices of used
vehicles. If any of these or other risks and uncertainties occur (some of
which are described under the heading "Risk Factors" in DaimlerChrysler's most
recent Annual Report on Form 20-F filed with the Securities and Exchange
Commission), or if the assumptions underlying any of these statements prove
incorrect, then actual results may be materially different from those
expressed or implied by such statements. DaimlerChrysler does not intend or
assume any obligation to update these forward-looking statements. Any
forward-looking statement speaks only as of the date on which it is made.
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Additional information and news on DaimlerChrysler can be found on the
Internet at: http://www.media.daimlerchrysler.com .
DaimlerChrysler - Figures for 2002
DaimlerChrysler Group 2002 2002 2001
Amounts in millions U.S.-$(1) euro euro
Revenues 156.838 149.583 152.873
Operating Profit excluding one-time
effects 6.112 5.829 1.345
Operating Profit including one-time
effects 7.186 6.854 (1,318)
Net income excluding one-time effects 3,490 3.329 730
per share (EPS) (in US-$/euro) 3.46 3.30 0.73
Net income (loss) including one-time
effects 4.947 4.718 (662)
per share (EPS) (in US-$/euro) 4.91 4.68 (0.66)
Dividend proposed (in euro) 1.50 1.00
(1) Rate of exchange: 1 euro = US-$ 1.0485 (based on the noon buying rate
on Dec. 31, 2002)
DaimlerChrysler - Figures for the Fourth Quarter 2002
DaimlerChrysler Group Q4 2002 Q4 2002 Q4 2001
Amounts in millions U.S.-$(1) euro euro
Revenues 38.796 37.001 39.909
Operating Profit excluding one-time
effects 1,230 1.173 564
Operating Profit including one-time
effects 580 553 5
Net income excluding one-time effects 756 721 284
per share (EPS) (in US-$/euro) 0.74 0.71 0.28
Net income (loss) including one-time
effects 176 168 (39)
per share (EPS) (in US-$/euro) 0.17 0.16 (0.04)
(1) Rate of exchange: 1 euro = US-$ 1.0485 (based on the noon buying rate
on Dec. 31, 2002)