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Auto News Articles - DaimlerChrysler: Strong Operating Results in Q1 2003 Despite Difficult Markets
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DaimlerChrysler: Strong Operating Results in Q1 2003 Despite Difficult Markets
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Source: DaimlerChrysler
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Date:4/24/2003
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Source Link: Click Here | Entire Article: Click Here
DaimlerChrysler achieved an operating profit of $1.5 billion in the first quarter of 2003, once again improving its earnings from ongoing businesses despite a difficult
environment. Calculated on the same basis this represents an increase of
$420 million, or 38%, against Q1 2002. The operating profit of $3.4 billion
for the first quarter of 2002 included high one-time income (a gain of
$2.7 billion on the sale of shares in T-Systems ITS) and one-time expenses
(structural expenditure of $0.3 billion at Chrysler Group and expenditure of
$0.1 billion related to the economic and financial crisis in Argentina). All
divisions contributed to the improvement. In view of the prevailing economic
conditions, DaimlerChrysler's divisions and business units posted very good
results in a difficult environment.
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