Mercedes group EBIT off in Q2
Mercedes-Benz Group claimed it “achieved solid second quarter results” despite earnings before interest and taxes (EBIT) down 20% year on year to EUR4bn (Q2 2023: EUR5bn) “supported by operational efficiency and a focus on healthy sales of cars and vans in a challenging environment”.
Adjusted return on sales (RoS) at Mercedes-Benz Cars was down to 10.2% from 13.5% but up to 17.5% from 15.5% at Vans. Group revenue fell to EUR36.7bn from EUR38.2bn in the quarter.
“Sales and the model mix are expected to improve in the second half of the year, supported by further market launches of new models particularly in the top end segment,” said Ola Kaellenius, CEO.
Adjusted EBIT at Mercedes-Benz Cars fell EUR1bn to EUR2.8bn though adjusted RoS of 10.2% was up from 9% in the first quarter”, (Q2 2023: 13.5%) “due to a focus on sales quality in a challenging environment and due to favourable material costs”.
Unit sales rose 7% quarter on quarter to 496,712 units due to improved product availability in China and the US.
Adjusted RoS for Vans rose to 17.5% from 15.5% a year ago with lower unit sales (103,435 versus 119,505) “were “outweighed by healthy net pricing, and a favourable structure, as well as favourable material costs and positive foreign exchange effects”.
Access the most comprehensive Company Profiles
on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Company Profile – free
sample
Your download email will arrive shortly
We are confident about the
unique
quality of our Company Profiles. However, we want you to make the most
beneficial
decision for your business, so we offer a free sample that you can download by
submitting the below form
By GlobalData
Read More: Mercedes group EBIT off in Q2
2024-07-29 13:33:48