April 20, 2023 – 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.
In a challenging market environment, we have once again demonstrated resilience. Strong pricing significantly outweighed headwinds from material costs and led to another quarter of solid financial results at Mercedes-Benz.