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. In addition, it is also Daimler’s intention to rename itself as Mercedes-Benz at the appropriate time. The transaction and the listing of Daimler Truck on the Frankfurt stock exchange is expected to be completed before year-end 2021. 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. It is intended that a significant majority stake in Daimler Truck will be distributed to Daimler shareholders. Daimler plans to spin-off and list Daimler Truck The reporting structure and previous year’s figures have been adjusted to reflect the newly formed Group divisions. The figures are based on audited financial statements. Adjusted EBIT, reflecting the underlying business, was €8.6 billion (2019: €10.3 billion). Due to extensive cost and cash preservation measures and strong performances across all divisions, EBIT of the Daimler Group increased by 53%. Revenue was €154.3 billion, a reduction of 11%. 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%.
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