DaimlerChrysler reported a very strong first quarter for 1999, with improved profits (up by 16%) and most integration projects running ahead of schedule. From the press release...

For January to March 1999, operating profit at DaimlerChrysler increased to Euro 2.8 billion, up 16% compared with the same period last year. The company reports that worldwide revenues were up 10% compared with the first quarter 1998 to Euro 35.0 billion. All business divisions contributed to the increase in revenues and profits. On the basis of the first quarter of 1999, DaimlerChrysler expects further growth and improved profits for the full year.

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The number of employees at DaimlerChrysler has risen to 456,000, an increase of 8%. This increase is due mainly to the 100% inclusion of Adtranz, but DaimlerChrysler also recruited new staff, in particular in the Services Division. On a comparable basis, employment grew by 4%.

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With operating profits of Euro 1.5 billion, up 8%, or 12% in terms of US dollars, the Chrysler, Dodge, Plymouth and Jeep® car and truck brands contributed more than half of the total to operating profits and reported units sales of 836,000, an increase of 10,000 units. The market share of the U.S. car and truck business of these brands was 16.4% compared with 16.0% in the first quarter of 1998.

The division Passenger Cars Mercedes-Benz and smart was the second largest contributor to profits, with an operating profit of Euro 531 million, up 4%, and a new sales record with 243,000 units, up 21%. This favorable result was achieved despite the start-up and related marketing costs of the smart.