Daimler confirms 2018 group EBIT outlook

Daimler stated a proposed deal to combine its mobility services company with that of competitor BMW will not close in 2018, forcing the automaker to reduce the outlook for its financial services division.

Daimler stated the delay means it will not be able to book valuation and revenue gains this year, causing the financial services division’s 2018 revenues before interest and taxes (EBIT) to come in significantly below past year’s level.

The valuation gains are now expected to be booked in next year, Daimler stated. The automaker further stated its 2018 full year EBIT forecast on a group level is still not changed.