February 1, 2018 / 12:46 PM / 10 months ago

UPDATE 1-Daimler may give more info on divisions in overhaul

* Daimler mulls structural revamp, three divisions

* Three business units to be legally separated

* Several hundred employees working on new strategy overhaul

* Daimler rules out divestment of entire divisions

* Says autonomous tech has potential for cars and trucks (Adds CFO comment)

By Edward Taylor

STUTTGART, Feb 1 (Reuters) - Daimler may provide more detailed profit and loss accounts for it cars, trucks and finiancial services divisions as part of an overhaul aimed at boosting its market value and increasing divisional autonomy, the company said on Thursday.

The German automaker is in the process of evaluating whether to legally separate its cars and vans business from its trucks and buses, while maintaining a separate financial services division that could also house its mobility services business.

Some investors think that, eventually, Daimler could partially list one of the divisions on the stock exchange.

“Investors and analysts appreciate such things,” Chief Financial Officer Bodo Uebber said, referring to the possibility of more detailed profit and loss accounts for the divisions.

“They want more transparency. A corporation usually has its own balance sheet and cash flow statement,” he told journalists at Daimler’s annual press conference in Stuttgart.

The ultimate level of financial transparency for each division was still under discussion, he added.

By giving the divisions more managerial authority, each unit could seize on growth opportunities more quickly without having to escalate decisions to Daimler’s management board, the company said.

“We will not increase the potential of the company with the structure of the company alone, we need to adapt the processes,” Uebber said.

Uebber declined to comment on whether a partial listing of the trucks or mobility services units was under consideration, but ruled out an outright divestment, because long-term shareholders believed in the synergies between the divisions.

There is still significant cross-selling potential between Mercedes-Benz passenger cars and trucks and vans, particularly when it comes to autonomous vehicle technology, Uebber said.

The group is looking into the economic, tax and organisational effects of a new structure for 700 separate companies in more than 60 countries. (Editing by Maria Sheahan and Mark Potter)

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