Net profit sags 29 percent in Q4 as Daimler sets aside money for EU anti-trust case

MarketsAssociated Press

German automaker Daimler AG says net profit fell 29 percent in the fourth quarter as the company set aside 600 million euros ($684 million) for potential costs from a European Union anti-trust investigation of truck makers.

Net profit fell to 1.187 billion euros from 1.676 billion in the year-earlier quarter. Revenue rose 11 percent to 35.749 billion euros.

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The company said Thursday it made 7.29 billion in 2014, a decrease of 16 percent from 2013 when Daimler had gains from selling its stake in aerospace company EADS.

Excluding such one-time effects, earnings rose for the full year and the company said it would increase its dividend to 2.45 euros per share from 2.25 euros.

EU officials informed truck makers in November they were suspected of colluding on pricing.