London, 26 October 2023, (Oilandgaspress) – Mercedes-Benz Cars sales reach 1,529,800 units in the January to September period (+2%) despite a supplier shortage constraining GLC and E-Class; Mercedes-Benz Vans sales at 323,500 units in the first nine months (+11%)
Mercedes-Benz Group AG (ticker symbol: MBG) achieved solid third-quarter results in a subdued market environment marked by intense price competition, particularly in the electric vehicle segment. Earnings Before Interest and Taxes (EBIT) reached €4.8 billion (Q3 2022: €5.2 billion) as improved net pricing at Mercedes-Benz Cars and a rise in sales of premium vans helped to partially offset higher inflation, currency effects and supply-chain related costs. Revenue fell 1.4% to €37.2 billion (Q3 2022: €37.7 billion) in part because passenger car sales were around 5% lower in the quarter, due to a supplier-induced shortage of 48-volt systems.
Mercedes-Benz continues to pursue its strategy of profitable growth. Thanks to strong sales of Mercedes-Maybach and G-Class vehicles in the Top-End and good pricing overall, the adjusted Return on Sales (RoS) at Mercedes-Benz Cars reached 12.4% (Q3 2022: 14.5%). With an adjusted RoS of 15.0% (Q3 2022: 12.7%), Mercedes-Benz Vans once again benefited from solid demand and a favourable model mix.
| Mercedes-Benz Group | Q3-2023 | Q3-2022 | Change 23/22 | Q1-Q3 2023 | Q1-Q3 2022 | Change 23/22 |
| Revenue* | 37,200 | 37,716 | -1.4% | 112,957 | 109,014 | +3.6% |
| Earnings before Interest and Taxes (EBIT)* | 4,842 | 5,196 | -6.8% | 15,334 | 15,047 | +1.9% |
| Earnings before Interest and Taxes (EBIT) adjusted* | 4,915 | 5,344 | -8.0% | 15,548 | 15,584 | -0.2% |
| Net profit/loss* | 3,719 | 3,998 | -7.0% | 11,371 | 10,782 | +5.5% |
| Free cash flow (industrial business)* | 2,347 | 3,016 | -22.2% | 7,874 | 5,649 | +39.4% |
| Free cash flow (industrial business) adjusted* | 2,449 | 3,309 | -26.0% | 8,173 | 6,588 | +24.1% |
| Earnings per share (EPS) in EUR | 3.44 | 3.66 | -6.0% | 10.47 | 9.83 | +6.5% |
Hybrid and electric cars accounted for 20% of overall sales in Q3; Mercedes-Benz Passenger Car battery electric vehicle (BEV) sales up 97% in the January to September period; electric van sales rose by 46% in the first nine months; product momentum to continue in 2024 with electric G-Class
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