April 27, 2018 / 5:51 AM / 24 days ago

REFILE-Daimler's Mercedes margin improves even as Q1 EBIT disappoints

(Amends date in dateline)

FRANKFURT, April 27 (Reuters) - Daimler said on Friday the profit margin on its Mercedes-Benz luxury vehicles grew to 9 percent in the first quarter, boosted by record sales even as operating profit fell 12 percent due to the absence of a year-earlier one-off gain and currency headwinds.

Earnings before interest and taxes (EBIT) dropped to 3.34 billion euros ($4.03 billion) in the quarter ending March, below analyst expectations.

The return on sales at its Mercedes-Benz Cars division inched up to 9 percent in the first quarter, from 8.9 percent a year earlier, thanks to a 5 percent hike in car sales to 594,299 vehicles. ($1 = 0.8262 euros) (Reporting by Edward Taylor Editing by Maria Sheahan)

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