Chrysler costs hit DaimlerChrysler figures hard

DaimlerChrysler made an operating profit of $7.2 billion last year, compared to $8.6 billion in 2002. This figure included Chrysler restructuring expenses of $591 million. Total revenues in 2003 fell by 7% to $171.9 billion, though adjusted for currency translation effects, they increased by 3%.

Operating profit also included a capital gain of $1.3 billion from the sale of the MTU aero engines business. Operating profit excluding these two items amounted to $6.5 billion. DaimlerChrysler therefore claims to have achieved its own goal for its ongoing business in last year's 'very difficult' market environment. The DaimlerChrysler management board has proposed an unchanged 2003 dividend of €1.50 per share; total dividend distribution would accordingly amount to €1.519 billion.