Daimler’s Q2 profit up 30%on Aabar’s investment: CEO
28 Jul 2011
(MENAFN) Daimler’s chief executive, Dieter Zetsche, said that due to Aabar’s investment in the German automaker, in the second quarter, Daimler’s profit grew 30 percent from 2010’s same quarter reaching USD2.45 billion, reported The National.
Zetsche added that in the quarter, the company’s sales rose 6 percent from the same period a year ago to 527,600 units, whereas sales of Mercedes cars went up 4 percent globally to 357,600 units while China’s sales of the brand rose 34 percent.
He also said that in the first half, sales in the UAE grew 8 per cent from the same period last year, where sport utility vehicle sales rose 71 percent from the first quarter to the second quarter.
It is worth noting that the value of Daimler’s shares went up more than 150 percent since Aabar acquired a 9.1 percent stake in the German company two years ago. The company forecasts full-year revenue to reach more than USD144 billion.