Mercedes-Benz Group AG / DE0007100000

Mercedes-Benz Group AG adjusts full-year guidance for the year 2024 based on current market outlook

EQS-Ad-hoc: Mercedes-Benz Group AG / Key word(s): Change in Forecast


19-Sep-2024 / 21:09 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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  Stuttgart, Germany - As a result of recent developments, Mercedes-Benz Group AG today adjusted its earnings outlook for the year 2024 for Mercedes-Benz Cars and Mercedes-Benz Group. This was triggered by a further deterioration of the macroeconomic environment, mainly in China. GDP growth in China lost further momentum amid weaker consumption as well as the continued downturn in the real estate sector. This affected the overall 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 versus the first half, and therefore weaker than originally expected. Additionally, the second half of 2024 is expected to be impacted by various valuation adjustments. Furthermore, the dynamic pricing environment is expected to continue. Therefore, Mercedes-Benz Group has updated its full-year outlook: 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. Mercedes-Benz Vans’ expected adjusted Return on Sales (14% to 15%) and Mercedes-Benz Mobility’s expected adjusted Return on Equity (8.5% to 9.5%) remain unchanged. Mercedes-Benz Group’s EBIT is now expected to be significantly below the prior year level (previously: slightly below the prior-year level). Free cash flow of the industrial business for the Mercedes-Benz Group is now expected to be significantly below the prior-year level (previously: slightly below the prior-year 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
Tel.: [phone]
E-Mail: [e-mail]

End of Inside Information

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19-Sep-2024 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com

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Language:	English
Company:	Mercedes-Benz Group AG
	Mercedesstrasse 120
	70372 Stuttgart
	Germany
Phone:	[phone]
Fax:	[phone]
E-mail:	[e-mail]
Internet:	https://group.mercedes-benz.com
ISIN:	DE0007100000
WKN:	710000
Indices:	DAX, EURO STOXX 50
Listed:	Regulated Market in Frankfurt (Prime Standard), Stuttgart; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Tradegate Exchange
EQS News ID:	1991927

End of Announcement	EQS News Service

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1991927  19-Sep-2024 CET/CEST