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.
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Preliminary Q1 2023 results
Mercedes-Benz AG
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Represented by the Board of Management:
Ola Källenius, Chairman; Jörg Burzer, Renata Jungo Brüngger, Mathias Geisen, Markus Schäfer, Britta Seeger, Oliver Thöne, Hubertus Troska, Harald Wilhelm
Chairman of the Supervisory Board: Martin Brudermüller
Court of Registry: Stuttgart; commercial register no. 762873
VAT ID: DE 32 12 81 763
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Preliminary Q1 2023 results
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:
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.
Harald Wilhelm
Member of the Board of Management of Mercedes-Benz Group AG. Finance & Controlling/Mercedes-Benz Mobility
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