DaimlerChrysler Sees 12% Increase in 1999 Revenue

Preliminary figures indicate an even bigger increase in operating profits than in revenues.
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DaimlerChrysler

(DCX)

said Tuesday preliminary figures indicated a 12% increase in 1999 revenue to approximately 148 billion euros ($149.8 billion).

The company, with headquarters in Stuttgart, Germany, and Auburn Hills, Mich., also said preliminary figures indicate an even bigger increase in operating profits than in revenues.

"Nearly all of our vehicle brands reached all-time highs," said DaimlerChrysler Chairman Jurgen Schrempp in a statement. "We are well prepared for the year 2000 and the years ahead."

Sales of DaimlerChrysler's vehicles increased about 7% to 4.8 million units, the preliminary figures show. Sales in its Mercedez-Benz smart passenger cars division and the Chrysler group both surged. Revenue in the Mercedes-Benz division increased to more than 37 billion euros from 32.6 billion euros in 1998, while Chrysler sales totaled a record 63 billion euros, compared with 56.3 billion euros a year ago.

Increases were also posted in DaimlerChrysler's services and aerospace divisions.

DaimlerChrysler is scheduled to release its detailed financial statement for 1999 on February 28, 2000.

DaimlerChrysler closed up 1 1/2, or 2.04%, to 75 Tuesday.