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Business

DaimlerChrysler Profits Rise in 2004

German-US auto giant DaimlerChrysler said Thursday that bottom-line earnings increased more than sixfold in 2004, largely as a result of improved earnings at its US arm Chrysler and the commercial vehicles division. DaimlerChrysler said in a statement it booked net profit of €2.5 billion ($3.2 billion) last year, up from €400 million a year earlier. Operating profit was also up, rising to €5.8 billion in 2004 from €5.1 billion a year earlier. Earnings in the services division were stable, while operating profit in the Mercedes Car division decreased sharply. Management would propose paying an unchanged dividend of €1.50 per share to shareholders, the car maker said. DaimlerChrysler sold a total of 4.7 million vehicles in 2004, 8 percent more than in the previous year and revenues increased by four percent to €142.1 billion. Adjusted for currency-translation effects and changes in the make-up of the group, revenues would have increased by 7 percent.

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