Mercedes-Benz maker Daimler reported Friday a sluggish start to the year, with first-quarter profits falling back compared to 2018 as a slew of problems hit its different divisions. Net profit at the group shed nine percent year-on-year, to 2.1 billion euros ($2.4 billion), with executives pointing to slower car sales, supply chain issues and costly outlays for research and development as the reasons for the slump. Operating, or underlying profit fell even more dramatically, losing 16 percent to 2.8 billion euros, on revenues almost flat at 39.7 billion. "We cannot and will not be satisfied with this - as expected - moderate start to the year," outgoing chief executive Dieter Zetsche said in a statement. But the flamboyantly-moustachioed auto boss left Daimler's annual targets for this year untouched.