STUTTGART, Germany Feb 7 German carmaker
Daimler expects the recent strength in the European
single currency could result in an earnings hit of around 200
million euros ($270.8 million) this year, finance chief Bodo
Uebber said on Thursday.
"Actually those headwinds are pretty manageable, thanks to
the fact that we have already hedged over 70 percent of our
dollar exposure for this year," he told reporters.
For next year the company has already built hedges equating
to around a third of its dollar exposure.
Daimler booked a positive earnings contribution of 958
million euros in 2012, the lion's share of which stemmed from
its Mercedes cars division, thanks to the euro trading as low as
$1.20 in late July.
Uebber also said the "timepoint remained open" for an exit
from the remaining 7.5 percent stake it holds in European
aerospace group EADS.
He aims to achieve a positive free cash flow this year
including all potential effects such as M&A investments or
pension funding costs.
($1 = 0.7387 euros)
(Reporting By Christiaan Hetzner)