MATERIAL Y MÉTODOS
4.3 Objetivo III: Arrays de expresión génica en pacientes con EM tratados con IFN β
5.1.2 Niveles de proteínas de la vía JAK-STAT en células no estimuladas y tras la estimulación in vitro con IFN β
5.1.2.2 Comparaciones entre pacientes con EM sin tratar y pacientes tratados con IFN β
Group revenues in 2007 should be in the magnitude of the prior year. In the following years, we expect revenues to increase significantly, in line with rising unit sales. In regional terms, the dynamic markets of Asia will be a key source of growth. A crucial contribution to improving profitability will be made by the programs designed to boost efficiency, which we have initiated in all divisions and headquarters departments and are steadily pushing forward. We also plan to use our production equipment for longer periods in the future.
Overall, our goal is to deliver top performance all along the value chain. The implementation of the new management model will create lean and stable processes, allowing us to become faster, more flexible, more cost-effective and thus also more com- petitive and profitable in all areas in the future. In particular, the increasing networking of our worldwide activities, the use of standardized modules, excellent processes, and the intensive knowledge transfer within the Group should have a positive impact on the divisions’ earnings in the coming years. The Mercedes Car Group anticipates a return on sales of at least 7% in 2007, despite a weaker first quarter. As a result of the CORE efficiency-improving program and excellent products such as the new C-Class, the Mercedes Car Group’s profitability is to be continuously further improved during the planning period of 2007 through 2009.
At the Chrysler Group, the product offensive will be supported by far-reaching measures designed to improve efficiency, productivity and quality. The “Recovery and Transformation Plan” presented in February 2007 combines and intensifies these measures within the framework of an overall concept for sustained profitability improvements (see pages 66 and 89). The program comprises a combination of measures designed to increase revenues and reduce costs. In the long term, the redesigned business model will focus on achieving enhanced global presence and a shift in the product mix towards smaller and more fuel-efficient vehicles. Better use is to be made of alliances and partnerships around the world in order to utilize cost advantages and additional growth potential. The implementation of the “Recovery and Trans- formation Plan” will give rise to restructuring charges totaling up to €1 billion in 2007. In the year 2007, the Chrysler Group’s loss from operating activities should be less than in 2006. After breaking even in 2008, the Chrysler Group strives to achieve a return on sales of 2.5% in 2009. In order to optimize and accelerate the presented “Recovery and Transformation Plan” we are looking into further strategic options with partners beyond the existing business cooperation partners. In this regard, we do not exclude any option in order to find the best solution for both the Chrysler Group and DaimlerChrysler.
As a result of the expected decrease in unit sales due to the state of the market, the Truck Group’s operating profit in 2007 is unlikely to equal the high level of the prior year. But despite this temporary drop in earnings, the return on net assets should continue to exceed the cost of capital, with significant support from the Global Excellence efficiency-improving program that is being implemented worldwide. As of the year 2008, the Truck Group intends to achieve a return on sales averaging more than 7% over its entire business cycle.
The Financial Services division continues to pursue its goal of supporting the Group’s automotive sales by providing tailored financial services, while achieving a return on equity of at least 14%. Additional efficiency-improving potential is to be utilized through various programs adapted to regional market requirements – such as Roadmap Europe for example.
The profitability of the Vans unit should continue improving during the planning period. We anticipate further productivity improvements at DaimlerChrysler Buses, and therefore expect the unit’s earnings to be at a level similar to its best competitors. Based on the divisions’ projections, DaimlerChrysler should achieve a significant increase in profitability in the planning period of 2007 through 2009.
In the medium term, we aim to achieve a return on net assets of at least 10%.
A fundamental condition for the targeted increase in earnings is a generally stable economic and political situation, as well as the moderate rise in the worldwide demand for passenger cars and commercial vehicles expected for the years 2007 through 2009. Opportunities and risks may arise from the development of currency exchange rates and raw-material prices.
In the year 2007, DaimlerChrysler will change over its accounting and financial reporting to the International Financial Reporting Standards (IFRS) (see page 211 f). Our present main performance measure, operating profit according to US GAAP, will then be replaced with EBIT (earnings before interest and taxes). The earnings outlook will be put into more detail with the publication of the interim report on the first quarter of 2007.
Capital expenditure
During the planning period of 2007 through 2009, DaimlerChrysler expects to invest a total of €17.5 billion in property, plant and equipment. Rising capital expenditure at the Mercedes Car Group will be offset by decreasing investment budgets at the Chrysler Group, the Truck Group and the Vans unit. At the Mercedes Car Group, the focus of investment will be on advance expenditure for new vehicles such as the E-Class successor model and the new sport-utility vehicle based on the C-Class. The key area of investment at the Chrysler Group will be for the ongoing modern- ization of its plants and the continuation of the product offensive. The flexibilization of production and standardization of vehicle architectures on model changeovers, that has meanwhile been achieved has already led to substantial savings. Therefore it will be possible to reduce the Chrysler Group’s investment budget during the planning period. At the Truck Group, the focus is on capital expenditure in connection with the new modular platform for heavy and medium trucks and a new family of engines for trucks. Since the launch of the new Sprinter has largely completed the Vans unit’s phase of model renewal, capital expenditure at Vans will be significantly reduced during the planning period, while at Buses there will be increased investment in plant modernization and the European sales organization.
Research and development
In the context of implementing the new management model, we merged the Corporate Research department and the Mercedes Car Group’s product development departments to form the new Board of Management department “Group Research and Devel- opment Mercedes Car Group”. With this change, we have more closely integrated our research, predevelopment and develop- ment activities, and effectively focused them on the development of the final products. The new department continues to function as a research competence center for the entire Group, but is assuming more responsibility for the predevelopment activities of all our automotive divisions. In this way, we will safeguard our innovative expertise for the future and will be able to convert it into marketable products more quickly.
This new organization will enable us to apply our research and development expenditure more efficiently in the coming years. We are optimizing work processes and focusing on those pro- jects that create the most added value for our customers. We will increasingly utilize the possibilities of modularization and stan- dardization wherever this is compatible with the identity of our brands. We intend to reduce the number of vehicle architectures in the coming years, but will significantly increase the number of model versions based on a shared architecture. This strategy will allow us to continue to offer a wide range of attractive new models, while further enhancing the quality of our products and achieving substantial savings with regard to material and development costs.
By further developing drive technologies and making increased use of lightweight components, we will make automobiles even more efficient, cleaner and more economical, thus reducing emissions, including carbon dioxide.
Mercedes Car Group 7.7
Chrysler Group 4.2
Truck Group 3.2
Van, Bus, Other 1.1
Research and development expenditure 2007- 2009
(in billions of €)
DaimlerChrysler Group 16.2
In billions of €1
Investments in property, plant and equipment
17.5 7.2 6.8 2.7 0.04 0.8 5.9 1.7 2.9 0.9 0.03 0.4 2006 2007–2009
Mercedes Car Group 7.2
Chrysler Group 6.8
Truck Group 2.7
Financial Services 0.04
Van, Bus, Other 0.8
Investments in property, plant and equipment 2007- 2009
(in billions of €)
DaimlerChrysler Group 17.5
DaimlerChrysler Group Mercedes Car Group Chrysler Group Truck Group Financial Services Van, Bus, Other
During the period of 2007 through 2009, DaimlerChrysler will invest a total of €16.2 billion in research and development activities. R&D spending will thus continue at the high level of more than 3% of total revenues despite the targeted efficiency improvements. Research and development expenditure at the Mercedes Car Group will be significantly higher than in recent years. There are two main reasons for this: on the one hand, the integration of Corporate Research into the Mercedes Car Group; on the other hand, the high expenditure for the E-Class successor model. The focus of R&D expenditure at the Chrysler Group will be on the continuation of the product offensive. The Chrysler Group intends to launch more than 20 new models by 2009. Key projects at the Truck Group are the new truck platform and new engines that fulfill the emission regulations for the years 2009/2010.
Significant expenditure is also planned for new technologies, with which we intend to improve the safety, environmental compatibility and fuel economy of road vehicles.
Workforce
As a result of the anticipated production volumes and productivity advances, DaimlerChrysler assumes that compared with the end of 2006, the size of its workforce will continue to decrease during the planning period of 2007 through 2009.
Forward-looking statements in this Annual Report:
This annual report contains forward-looking statements that reflect our current views about future events. The words “anticipate,” “assume,” “believe,” “estimate,” “expect,” “intend,” “may,” “plan,” “project,” “should” and similar expressions are used to identify forward looking statements. These statements are subject to many risks and uncertain- ties, including an economic downturn or slow economic growth, especially in Europe or North America; changes in currency exchange rates and interest rates; introduction of competing products and possible lack of acceptance of our products or services; com- petitive pressures which may limit our ability to reduce sales incentives and raise prices; price increases in fuel, raw materials, and precious metals; disruption of production or delivery of new vehicles due to shortages of materials, labor strikes, or supplier insol- vencies; a decline in resale prices of used vehicles; the ability of the Chrysler Group to implement successfully its Recovery and Transformation Plan; the business outlook for our Truck Group, which may experience a significant decline in demand as a result of accelerated purchases in 2006 made in advance of the effectiveness of new emission regulations; effective implementation of cost reduction and efficiency optimization programs, including our new management model; the business outlook of our equity investee EADS, including the financial effects of delays in and potentially lower volume of future aircraft deliveries; changes in laws, regulations and government policies, particu- larly those relating to vehicle emissions, fuel economy and safety, the resolution of pend- ing governmental investigations and the outcome of pending or threatened future legal proceedings; and other risks and uncertainties, some of which we describe under the heading “Risk Report” in this Annual Report and under the headings “Risk Factors” and “Legal Proceedings” in the Annual Report on Form 20-F filed with the Securities and Ex- change Commission. If any of these risks and uncertainties materialize, or if the assump- tions underlying any of our forward looking statements prove incorrect, then our actual results may be materially different from those we express or imply by such statements. We do not intend or assume any obligation to update these forward looking statements. Any forward looking statement speaks only as of the date on which it is made.
In billions of €1
Research and development expenditure
16.2 7.7 4.2 3.2 1.1 5.3 2.2 1.6 1.0 0.6 2006 2007–20092 DaimlerChrysler Group Mercedes Car Group Chrysler Group Truck Group Van, Bus, Other
1 Figures for 2006 according to US GAAP, as of 2007 according to IFRS 2 Includes both capitalized and expensed R&D spending