Full Year Results and Annual Report 2020.

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February 18, 2021 – Financial results 2020 are significantly better than expected amid COVID-19 challenges. Daimler Group expects sales, revenues and EBIT in 2021 to be significantly above the prior-year’s level and intends to spin-off Daimler Truck with majority listing on the stock exchange.


Group Unit Sales

2019: 3.34 mn



2019: € 172.7 bn



2019: € 4.3 bn


Free Cash Flow Ind. Business

2019: € 1.4 bn


Earnings per share

2019: € 2.22



2019: € 0.90

In a challenging environment due to the COVID-19 pandemic, the Group’s total unit sales of passenger cars and commercial vehicles decreased by 15%. Revenue was €154.3 billion, a reduction of 11%. Due to extensive cost and cash preservation measures and strong performances across all divisions, EBIT of the Daimler Group increased by 53%. Adjusted EBIT, reflecting the underlying business, was €8.6 billion (2019: €10.3 billion).

The figures are based on audited financial statements. The reporting structure and previous year’s figures have been adjusted to reflect the newly formed Group divisions.

Daimler plans to spin-off and list Daimler Truck

It is intended that a significant majority stake in Daimler Truck will be distributed to Daimler shareholders. Daimler Truck will have a fully independent management, stand-alone corporate governance including an independent Chairman of the Supervisory Board, and is targeted to qualify for listing on Germany’s blue-chip DAX index.

The transaction and the listing of Daimler Truck on the Frankfurt stock exchange is expected to be completed before year-end 2021. In addition, it is also Daimler’s intention to rename itself as Mercedes-Benz at the appropriate time. All further details about the intended spin-off will be presented to shareholders at an extra-ordinary shareholder meeting in Q3 2021 in order to obtain their mandatory approval for the plan.

The year 2020 was a stress test for just about every company in almost every industry. The Daimler team mastered this test very well. Our products continue to be in great demand across all major markets and divisions. With rapid growth in our xEV sales and the introduction of new products and technologies, we have also taken important steps in terms of electrification and digitalization. Our financial results are significantly above market expectations reflecting substantial progress on cost-efficiencies. In addition, we have achieved a significant margin improvement based on strong product mix and pricing - especially in the second half of the year. We proved our ability to generate substantial cash flow and to drive the ongoing transformation on our own - even under the adverse circumstances of a pandemic.

Ola Källenius, Chairman of the Board of Management of Daimler AG and Mercedes-Benz AG

In 2020, net profit improved to €4.0 billion (2019: €2.7 billion). Net profit attributable to the shareholders of Daimler AG amounted to €3.6 billion (2019: €2.4 billion), leading to an increase in earnings per share to €3.39 (2019: €2.22). At the Annual General Meeting on March 31, 2021, the Board of Management and the Supervisory Board will propose a dividend of €1.35 per share (2019: €0.90). The total payout will therefore amount to €1.4 billion (2019: €1.0 billion).

Detailed review

In 2020, at the Group, investments in property, plant and equipment decreased by 20% to €5.7 billion (2019: €7.2 billion). Research and development expenditure was €8.6 billion (2019: €9.7 billion) – a reduction of 11%.

The free cash flow of the industrial business amounted to €8.3 billion (2019: €1.4 billion). The adjusted free cash flow of the industrial business was €9.2 billion (2019: €2.7 billion). The net liquidity of the industrial business improved to €17.9 billion (end of Q3 2020: €13.1 billion/end of 2019: €11.0 billion).

Mercedes-Benz Cars & Vans

Sales by the Mercedes-Benz Cars & Vans division decreased by 13% to 2,461,800 vehicles (2019: 2,823,800). Revenue was €98.6 billion (2019: €106.9 billion). EBIT amounted to €5,172 million (2019: minus €109 million) and return on sales was 5.2% (2019: minus 0.1%). Adjusted EBIT was €6,802 million (2019: €6,151 million) and adjusted return on sales was 6.9% (2019: 5.8%). Cash flow before interest and taxes (CFBIT) was €7,048 million (2019: €598 million). Adjusted CFBIT amounted to €7,917 million (2019: €1,939 million). The adjusted cash conversion rate (CCR) was 1.2 (2019: 0.3). Sales by Mercedes-Benz Cars slipped by 13% to 2,087,200 vehicles (2019: 2,385,400). Mercedes-Benz Vans’ sales were down 15% to 374,600 (2019: 438,300). In 2020, the average CO2 emissions of the new car fleet in Europe (EU28 - European Union, United Kingdom, Norway and Iceland) are expected to reach 104 g/km (2019: 137 g/km NEFZ, including vans registered as passenger cars). With this, the 2020 CO2 targets in the European Union have been met.

Daimler Trucks & Buses

Daimler Trucks & Buses division showed a decrease in unit sales of 27% to 378,500 vehicles (2019: 521,100). Revenue was €34.7 billion (2019: €44.4 billion). EBIT amounted to €525 million (2019: €2,672 million) and return on sales was 1.5% (2019: 6.0%). Adjusted EBIT was €678 million (2019: €2,672 million) and adjusted return on sales was 2.0% (2019: 6.0%). Cash flow before interest and taxes (CFBIT) was €2,513 million (2019: €2,654 million). Adjusted CFBIT came in at €2,513 million (2019: €2,654 million). The adjusted cash conversion rate (CCR) was 3.7 (2019: 1.0). Sales by Daimler Trucks fell by 27% to 358,300 vehicles (2019: 488,500). Daimler Buses sold 20,100 vehicles (2019: 32,600) – a decrease of 38%.

Daimler Mobility

At Daimler Mobility, new business decreased by 9% to €67.8 billion (2019: €74.4 billion). Contract volume was €150.6 billion (end of 2019: €162.8 billion). Revenue was €27.7 billion (2019: €28.6 billion). The division’s EBIT amounted to €1,436 million (2019: €2,140 million). At 9.8%, return on equity was lower than the figure of 15.3% in the prior year. Adjusted EBIT was €1,595 million (2019: €1,827 million) and adjusted return on equity was 10.9% (2019: 13.1%).

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