MERCEDES-BENZ GROUP AG Capital Market Presentation Q1 2024 Mercedes-Benz Group AG
Stuttgart, April 30, 2024
Mercedes-Benz Group: Key figures
Revenue
in billion euros
-4% | |
37.5 | 35.9 |
Q1 2023 | Q1 2024 |
EBIT
in billion euros
-30% | |
5.5 | |
3.9 | |
Q1 2023 | Q1 2024 |
Earnings per share
in euros
-22% | |
3.7 | |
2.9 | |
Q1 2023 | Q1 2024 |
Free Cash Flow (IB)
in billion euros
+3% | |
2.2 | 2.2 |
Q1 2023 | Q1 2024 |
Net Industrial Liquidity
in billion euros
+6% | |
31.7 | 33.6 |
12/31/2023 | 03/31/2024 |
2 |
Mercedes-Benz Cars: Q1 Product Highlights
Electric G-Class | AMG GT |
EQS | AMG E-Class | 3 | |
Mercedes-Benz Cars:
Top-End and electric vehicle unit sales
In thousand units
-8%
503
463
Top-End92
67
Core 248
268
Entry ** 163 | 129 |
Q1 2023 | Q1 2024 |
-27% | -2% |
92* | 92 | 90 | |||
10 | |||||
7 | |||||
67* | |||||
40 | 9 | G | 52 | 48 BEV** | |
5 | Maybach | ||||
thereof | 29 | AMG | |||
48 | S | 40 | 43 | PHEV | |
EQS | |||||
35 | GLS | ||||
EQS SUV | |||||
Q1 2023 | Q1 2024 | Q1 2023 | Q1 2024 |
Total MB Cars | Top-End | Electric vehicles | ||
Share in % of volume | 18% | 14% | 18% | 19% |
- w/o double counting (e.g. G63, S-Class, Maybach)
- incl. smart
4
Mercedes-Benz Cars: Financials
Sales | Revenue | EBIT adj. | CFBIT adj. |
in thousand units | in billion euros | in billion euros | in billion euros |
-8% | |
503.5 | |
463.0 | |
Q1 2023 | Q1 2024 |
-8% | ||
27.8 | ||
25.7 | ||
76.0* | -2% | 74.6* |
Q1 2023 | Q1 2024 |
-44% | |
4.1 | |
2.3 | |
Q1 2023 | Q1 2024 |
-22% | |
3.0 | |
2.3 | |
Q1 2023 | Q1 2024 |
* ASP in thousand euros excl. Smart, BBAC sales and pbp revenues
5 |
Mercedes-Benz Cars: EBIT & RoS
In million euros
4,1484,113
-35
RoS:RoS:
14.9%14.8%
• Legal proceedings -35
Gross Profit -1,883
237 | 133 | 2,456 | ||||||||
21 | 2,323 | |||||||||
344 | 34 | |||||||||
-199 | ||||||||||
-1,990 | ||||||||||
-237 | ||||||||||
Lower raw material prices | RoS: | RoS: | ||||||||
9.6% | ||||||||||
Lower R&D cost for existing vehicles and conventional drivetrains | 9.0% | |||||||||
Lower unit sales | ||||||||||
Unfavorable product- and market-mix | ||||||||||
Higher expenses for product lifecycle measures | • Legal proceedings +133 | |||||||||
Foreign exchange rates | ||||||||||
EBIT | Volume / | Foreign | General | Research & | EBIT | |||||||
EBIT | Industrial | Selling | non-capitalized | EBIT | ||||||||
Adjustments | adjusted | structure / | exchange | administrative | Others | adjusted | Adjustments | |||||
Q1 2023 | performance | expenses | development | Q1 2024 | ||||||||
Q1 2023 | net pricing | rates | expenses | Q1 2024 | ||||||||
costs | ||||||||||||
6
Mercedes-Benz Cars: EBIT to CFBIT
In million euros
308 | 1,491 | ||||||||||
2,456 | -25 | 2,297 | 44 | 2,341 | |||||||
-554 | |||||||||||
-1,379 | CCR: | CCR: | |||||||||
0.9 | 1.0 | ||||||||||
t/o | t/o | ||||||||||
• | Inventories | -1,619 | • | Result at-Equity BBAC -340 | • | Legal proceedings +44 | |||||
• | Trade Payable/ | ||||||||||
Receivables | +1,927 | ||||||||||
EBIT | Change in working | Net financial | Net investments | Depreciation and | CFBIT | CFBIT | |||||
in pp&e and | amortization/ | Other | Adjustments | adjusted | |||||||
Q1 2024 | capital | investments | Q1 2024 | ||||||||
intangible assets | impairments | Q1 2024 | |||||||||
7 |
Mercedes-Benz Vans: Key messages
Strong sales start into the year with growth driven by commercial vans. Especially strong performance in U.S. and China.
Strengthening of product portfolio with launch of new eSprinter and midsize Vans.
Continuously strong product substance, healthy mix, robust pricing & price premium combined with efficiency measures result in good financial performance.
8
Mercedes-Benz Vans: Electric vehicle unit sales
In thousand units | |||
+7% | |||
99 | 105 | -17% | |
3.6 | |||
3.0 | |||
thereof | |||
BEV | |||
thereof | |||
Q1 2023 | Q1 2024 | Q1 2023 | Q1 2024 |
Total MB Vans | Electric vehicles | ||
Share in % of volume | 4% | 3% |
9
Mercedes-Benz Vans: Financials
Sales | Revenue | EBIT adj. | CFBIT adj. |
in thousand units | in billion euros | in million euros | in million euros |
+7% | |
105.4 | |
98.9 | |
Q1 2023 | Q1 2024 |
+6% | |
4.6 | 4.9 |
Q1 2023 | Q1 2024 |
+11% | |
800 | |
719 | |
Q1 2023 | Q1 2024 |
+53% | |
688 | |
450 | |
Q1 2023 | Q1 2024 |
10 |
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Disclaimer
Mercedes-Benz Group AG published this content on 30 April 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 April 2024 05:04:57 UTC.
