Renaming Mercedes-Benz Group AG marks completion of realignment.

Solid financial results in the second quarter

Mercedes-Benz Group AG raises full-year guidance.

July 26, 2023 – 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).