FRANKFURT (Dow Jones)--German-U.S. automaker DaimlerChrysler AG (DCX) Thursday said 2005 net profit rose 15% due to a strong result at its commercial vehicles unit and stable earnings at its Chrysler and Financial Services divisions.
The company posted net profit of EUR2.8 billion for 2005, from EUR2.5 billion in 2004, beating analysts' estimates of EUR2.6 billion.
However, DaimlerChrysler's closely watched operating profit fell 9.9% on the year to EUR5.19 billion from EUR5.75 billion in 2004. The company last year launched costly restructuring measures, including wide ranging job cuts, at its high-wage German operations. Analysts had expected operating profit of EUR5.16 billion.
DaimlerChrysler reached its target for the full year of posting a slightly increased operating profit excluding a charge for its Smart minicar brand. The Smart brand accounted for restructuring costs of around EUR1.1 billion last year.
DaimlerChrysler posted sales of EUR149.8 billion in 2005 from EUR142.1 billion in 2004, and said it expects 2006 sales to match 2005.