Due to the solid financial performance in the second quarter of 2023, Mercedes-Benz Group today updated its full-year outlook:

  • Industrial Free Cash Flow for the Group is now expected slightly above the prior-year level (previously: at the same level)
  • Mercedes-Benz Group anticipates EBIT in 2023 at the same level as last year (previously: slightly below)
  • Mercedes-Benz Vans now expects the adjusted Return on Sales between 13% and 15% (previously: 11% to 13%)

The new outlook is based on the following preliminary financial results for the second quarter 2023:

  • Mercedes-Benz Cars delivered an adjusted Return on Sales of 13.5% (consensus: 13.2%), due to improved net pricing and increased unit sales - despite negative effects from FX, higher material costs, one time commodity charges and higher investments.
  • The adjusted Return on Sales of the Mercedes-Benz Vans division rose to 15.5% (consensus: 14.6%) driven by strongly improved net pricing and significantly increased unit sales.
  • Mercedes-Benz Mobility adj. Return on Equity came in at 12.8% (consensus: 12.9%). Profitability was impacted by lower margins due to higher refinancing rates and intensified competition in the financial services sector.
  • Mercedes-Benz Group EBIT increased to €5.0 billion (consensus: € 4.7 billion), mainly resulting from the higher EBIT of the Mercedes-Benz Vans division.
  • The solid profitability and high cash conversion rates of the automotive divisions in combination with the dividends from BBAC and Daimler Truck translated into an industrial free cash flow of €3.4 billion (consensus: € 2.8 billion).

The full quarterly results and interim report will be published on July 27th, 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.

Further information on Mercedes-Benz Group is available at: media.mercedes-benz.com and group.mercedes-benz.com.

Forward-looking statements: This document contains forward-looking statements that reflect our current views about future events. The words “anticipate,” “assume,” “believe,” “estimate,” “expect,” “intend,” “may,” “can,” “could,” “plan,” “project,” “should” and similar expressions are used to identify forward-looking statements. These statements are subject to many risks and uncertainties, including an adverse development of global economic conditions, in particular a decline of demand in our most important markets; a deterioration of our refinancing possibilities on the credit and financial markets; events of force majeure including natural disasters, pandemics, acts of terrorism, political unrest, armed conflicts, industrial accidents and their effects on our sales, purchasing, production or financial services activities; changes in currency exchange rates, customs and foreign trade provisions; a shift in consumer preferences towards smaller, lower-margin vehicles; a possible lack of acceptance of our products or services which limits our ability to achieve prices and adequately utilize our production capacities; price increases for fuel, raw materials or energy; disruption of production due to shortages of materials or energy, labour strikes or supplier insolvencies; a decline in resale prices of used vehicles; the effective implementation of cost-reduction and efficiency-optimization measures; the business outlook for companies in which we hold a significant equity interest; the successful implementation of strategic cooperations and joint ventures; changes in laws, regulations and government policies, particularly those relating to vehicle emissions, fuel economy and safety; the resolution of pending governmental investigations or of investigations requested by governments and the outcome of pending or threatened future legal proceedings; and other risks and uncertainties, some of which are described under the heading “Risk and Opportunity Report” in the current Annual Report or in this Interim Report. If any of these risks and uncertainties materializes or if the assumptions underlying any of our forward-looking statements prove to be incorrect, the actual results may be materially different from those we express or imply by such statements. We do not intend or assume any obligation to update these forward-looking statements since they are based solely on the circumstances at the date of publication.

Mercedes-Benz Group at a glance Mercedes-Benz Group AG is one of the world's most successful automotive companies. With Mercedes-Benz AG, the Group is one of the leading global suppliers of high-end passenger cars and premium vans. Mercedes-Benz Mobility AG offers financing, leasing, car subscription and car rental, fleet management, digital services for charging and payment, insurance brokerage, as well as innovative mobility services. The company founders, Gottlieb Daimler and Carl Benz, made history by inventing the automobile in 1886. As a pioneer of automotive engineering, Mercedes-Benz sees shaping the future of mobility in a safe and sustainable way as both a motivation and obligation. The company's focus therefore remains on innovative and green technologies as well as on safe and superior vehicles that both captivate and inspire. Mercedes-Benz continues to invest systematically in the development of efficient powertrains and sets the course for an all-electric future: Mercedes-Benz Cars intends to go all-electric by the end of this decade wherever market conditions allow. Mercedes-Benz Vans targets an EV share of more than 50% by 2023. Shifting from electric-first to electric-only, the company is accelerating toward a fully electric and software-driven future. The company's efforts are also focused on the intelligent connectivity of its vehicles, autonomous driving and new mobility concepts as Mercedes-Benz regards it as its aspiration and obligation to live up to its responsibility to society and the environment. Mercedes-Benz sells its vehicles and services in nearly every country of the world and has production facilities in Europe, North and Latin America, Asia and Africa. In addition to Mercedes-Benz, the world's most valuable luxury automotive brand (source: Interbrand study, 03 Nov. 2022), Mercedes-AMG, Mercedes-Maybach and Mercedes me as well as the brands of Mercedes-Benz Mobility: Mercedes-Benz Bank, Mercedes-Benz Financial Services and Athlon. The company is listed on the Frankfurt and Stuttgart stock exchanges (ticker symbol MBG). In 2022, the Group had a workforce of around 170,000 and sold around 2.5 million vehicles. Group revenues amounted to €150.0 billion and Group EBIT to €20.5 billion.

Tobias Just, +49 711 17 41341, tobias.just@mercedes-benz.com Edward Taylor, +49 176 30 94 1776, edward.taylor@mercedes-benz.com Andrea Berg, +1 917 667 2391, andrea.a.berg@mercedes-benz.com

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