Daimler to revise forecasts amid tough markets

  • Associated Press
  • April 10, 2013 - 2:41 AM

BERLIN - German automaker Daimler is warning shareholders it expects 2013 to be difficult and that it may have to reassess its earnings expectations.

CEO Dieter Zetsche said in remarks prepared for the company's annual shareholder meeting Wednesday that "not much tailwind is anticipated from the markets in the coming months."

Daimler in February reported 2012 net profit of 6.5 billion euros ($8.5 billion) and forecast flat underlying earnings for 2013.

But because of the market situation, particularly in Europe, Zetsche said the company will "reassess whether its previous market-related assumptions for 2013 are still valid." Further details will be provided alongside first-quarter results.

Even though Daimler is set to revise its outlook, its share price was up 2 percent at 41.70 euros after the company said first quarter sales were.

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