EQS-Adhoc: Mercedes-Benz Group AG: Strong preliminary results for the first quarter 2023 exceed capital market expectations
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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
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:
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. |
| 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 Announcement | EQS News Service |
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1613367 20-Apr-2023 CET/CEST
Mercedes-Benz Group AG Stock
We see a rather positive sentiment for Mercedes-Benz Group AG with 6 Buy predictions and 2 Sell predictions.
With a target price of 79 € there is a slightly positive potential of 15.99% for Mercedes-Benz Group AG compared to the current price of 68.11 €.
