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EQS-Adhoc: Mercedes-Benz Group AG: Strong preliminary results for the first quarter 2023 exceed capital market expectations

EQS-Ad-hoc: Mercedes-Benz Group AG / Key word(s): Preliminary Results
Mercedes-Benz Group AG: Strong preliminary results for the first quarter 2023 exceed capital market expectations

20-Apr-2023 / 21:10 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: Strong preliminary results for the first quarter 2023 exceed capital market expectations

 

Stuttgart, Germany – Mercedes-Benz Group achieved strong financial results in the first quarter 2023 with especially the Industrial Free Cash Flow exceeding capital market expectations.

Mercedes-Benz Cars delivered an adjusted Return on Sales of 14.8%, due to healthy net pricing, higher sales and a good product mix - despite negative effects from higher material costs and increased research and development expenses.

The adjusted Return on Sales of the Mercedes-Benz Vans division rose to 15.6% due to substantially improved net pricing and higher unit sales.

Mercedes Benz Group EBIT increased to €5.5 billion, mainly resulting from the higher EBIT of the Mercedes-Benz Vans division.

The strong profitability of the automotive divisions translated into an industrial free cash flow of €2.2 billion significantly exceeding market expectations.

The following figures for the first quarter 2023 are preliminary and unaudited:

  • Mercedes-Benz Cars adj. Return on Sales of 14.8% (consensus: 13.4%)
  • Mercedes-Benz Vans adj. Return on Sales of 15.6% (consensus: 13.1%)
  • Mercedes-Benz Mobility adj. Return on Equity of 15.6% (consensus: 15.8%)
  • Mercedes-Benz Group EBIT: € 5.5 billion (consensus: € 4.9 billion)
  • Mercedes Benz Group Industrial Free Cash Flow: € 2.2 billion (consensus: € 1.2 billion)

The company also has been able to post solid growth rates for both battery electric and Top-End Vehicles in the first quarter.

The full quarterly results and interim report will be published on April 28th, 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

20-Apr-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:1613367

 
End of AnnouncementEQS News Service

1613367  20-Apr-2023 CET/CEST

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