Daimler 2004 hedging income dips, sees forex risk

Newswire

FRANKFURT, Feb 23 (Reuters) - DaimlerChrysler generated slightly less income from financial hedges and other derivatives in 2004 than in 2003, the automaker said in its annual report released on Wednesday. That suggests the strong euro exerted more pressure on earnings at the Mercedes luxury car division, which generates around a fifth of its unit sales in the United States and generates more dollar revenue than costs. In notes to the annual report, the world's fifth-biggest carmaker ...

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