EQS Adhoc: Mercedes-Benz Group AG adjusts full-year forecast for 2024 based on current market outlook

EQS-Ad-hoc: Mercedes-Benz Group AG / Keywords: Change in forecast
Mercedes-Benz Group AG is adjusting its full-year forecast for 2024 based on current market prospects

19-09-2024 / 21:09 CET/CEST
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Mercedes-Benz Group AG is adjusting its full-year forecast for 2024 based on current market prospects

Stuttgart, Germany – As a result of recent developments, Mercedes-Benz Group AG today revised its earnings outlook for 2024 for Mercedes-Benz Cars and Mercedes-Benz Group.

This was driven by a further deterioration in the macroeconomic environment, mainly in China. GDP growth in China lost further momentum amid weaker consumption and the ongoing downturn in the real estate sector. This affected the total sales volume in China, including sales in the Top-End segment. Overall, the sales mix in the second half of 2024 is expected to remain unchanged from the first half, and therefore weaker than originally expected.

In addition, the second half of 2024 is expected to be impacted by several valuation adjustments. Moreover, the dynamic pricing environment is expected to persist.

That is why Mercedes-Benz Group has updated its outlook for the full year:

Mercedes-Benz Cars now expects the adjusted Return on Sales to be between 7.5% and 8.5% (previously: 10% to 11%). This implies an expected adjusted Return on Sales of around 6% for the second half of the year. The valuation adjustments are expected to have an impact of around 1 percentage point in the second half of this year.
The expected adjusted return on sales of Mercedes-Benz Vans (14% to 15%) and the expected adjusted return on equity of Mercedes-Benz Mobility (8.5% to 9.5%) remain unchanged.
The Mercedes-Benz Group’s EBIT is now expected to be significantly lower than the previous year’s level (previously: slightly lower than the previous year’s level).
The free cash flow from the Mercedes-Benz Group’s industrial activities is now expected to be significantly lower than last year’s level (previously: slightly lower than last year’s level).

EBIT, adjusted return on sales, adjusted return on equity and free cash flow of the industrial business are defined on pages 41 and 59 of the Mercedes-Benz Group Annual Report 2023.

Contact:
Edward Taylor
Phone: +49 176 30941776
Email: [email protected]

End of Inside Information

19-09-2024 CET/CEST EQS’s distribution services include regulatory announcements, financial/corporate news and press releases.
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Language:	English
Company:	Mercedes-Benz Group AG
	Mercedesstraße 120
	70372 Stuttgart
	Germany
Telephone:	+49 (0)711 17-0
Fax:	+49 (0)711 179 40 75
Email address:	[email protected]
Internet:	https://group.mercedes-benz.com
ISIN code:	DE0007100000
WKN:	710000
Index numbers:	DAX, EURO STOXX 50
Please mention:	Regulated market in Frankfurt (Prime Standard), Stuttgart; Regulated unofficial market in Berlin, Düsseldorf, Hamburg, Hannover, Munich, Tradegate Exchange
EQS News ID:	1991927