Frankfurt — German automaker Daimler says fourth-quarter net profit rose 18 percent as the company's flagship Mercedes-Benz brand reaped fat returns on new SUV models.
Net profit hit 2.2 billion euros ($2.4 billion), up from 1.9 billion in the year-ago quarter. Group revenue rose 1 percent to 41 billion euros.
Booming profits at Mercedes-Benz outweighed losses at the company's truck business, which lost sales in Turkey and the Middle East. Operating earnings at the luxury brand rose 53 percent to 2.56 billion.
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For the full year, Daimler made 8.7 billion euros net profit, up slightly from 2015.
The company said its profits from the full year meant it could pay up to $5 400 in profit-sharing bonuses to 130 000 eligible workers in Germany. They'll get the money in their April paychecks.