The financial position, cash flows and profitability of Daimler AG depend on the business development and performance of its operating subsidiaries, in whose development it participates through profit-and-loss-transfer agreements and dividend distributions.

We expect Daimler AG to achieve significantly improved profitability in 2020 compared with the year 2019. We assume that the operating performance will improve, due among other things to cost savings and the end of costs for “Project Future.” We also anticipate a significant improvement in financial income as a result of improved profit transfers from subsidiaries.

In addition, due to the interrelations between Daimler AG and its subsidiaries, we refer to the statements in the »Outlook« chapter, which largely reflect our expectations also for the parent company.

Sustainability and Integrity
Risks and opportunities