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EQS-Adhoc: Mercedes-Benz Group AG raises full-year guidance based on solid financial results in the second quarter
EQS-Ad-hoc: Mercedes-Benz Group AG / Key word(s): Change in Forecast
Mercedes-Benz Group AG raises full-year guidance based on solid financial results in the second quarter
26-Jul-2023 / 20:19 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
Mercedes-Benz Group AG raises full-year guidance based on solid financial results in the second quarter
Due to the solid financial performance in the second quarter of 2023, Mercedes-Benz Group today updated its full-year outlook:
- Industrial Free Cash Flow for the Group is now expected slightly above the prior-year level (previously: at the same level)
- Mercedes-Benz Group anticipates EBIT in 2023 at the same level as last year (previously: slightly below)
- Mercedes-Benz Vans now expects the adjusted Return on Sales between 13% and 15% (previously: 11% to 13%)
The new outlook is based on the following preliminary financial results for the second quarter 2023:
- Mercedes-Benz Cars delivered an adjusted Return on Sales of 13.5% (consensus: 13.2%), due to improved net pricing and increased unit sales - despite negative effects from FX, higher material costs, one time commodity charges and higher investments.
- The adjusted Return on Sales of the Mercedes-Benz Vans division rose to 15.5% (consensus: 14.6%) driven by strongly improved net pricing and significantly increased unit sales.
- Mercedes-Benz Mobility adj. Return on Equity came in at 12.8% (consensus: 12.9%). Profitability was impacted by lower margins due to higher refinancing rates and intensified competition in the financial services sector.
- Mercedes-Benz Group EBIT increased to €5.0 billion (consensus: € 4.7 billion), mainly resulting from the higher EBIT of the Mercedes-Benz Vans division.
- The solid profitability and high cash conversion rates of the automotive divisions in combination with the dividends from BBAC and Daimler Truck translated into an industrial free cash flow of €3.4 billion (consensus: € 2.8 billion).
The full quarterly results and interim report will be published on July 27th, 2023.
EBIT, Return on Sales (RoS) adjusted, Return on Equity (RoE) adjusted and Industrial Free Cash Flow are defined on p. 48 of the Mercedes-Benz Group Annual Report 2022.
Contact:
Edward Taylor
Tel.: +49 176 30941776
E-Mail: edward.taylor@mercedes-benz.com
End of Inside Information
26-Jul-2023 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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| Language: | English |
| Company: | Mercedes-Benz Group AG |
| Mercedesstrasse 120 | |
| 70372 Stuttgart | |
| Germany | |
| Phone: | +49 (0)711 17-0 |
| Fax: | +49 (0)711 179 40 75 |
| E-mail: | ir.mbg@mercedes-benz.com |
| Internet: | https://group.mercedes-benz.com |
| ISIN: | DE0007100000 |
| WKN: | 710000 |
| Indices: | DAX, EURO STOXX 50 |
| Listed: | Regulated Market in Frankfurt (Prime Standard), Stuttgart; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Tradegate Exchange |
| EQS News ID: | 1689257 |
| End of Announcement | EQS News Service |
1689257 26-Jul-2023 CET/CEST