Cash flow Mercedes-Benz Group AG

Equities

MBG

DE0007100000

Auto & Truck Manufacturers

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Sep. 11	China's Geely scouting locations for Europe plant	RE
Sep. 11	German union ready to strike as industrial sector pay talks start	RE

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Published financial data: MERCEDES-BENZ GROUP AG

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	144B	127B	106B	123B	126B
Finance Div. Revenues	28.65B	27.7B	27.94B	26.95B	26.72B
Total Revenues	173B	154B	134B	150B	153B
Cost of Goods Sold, Total	119B	102B	80B	92.9B	95.21B
Finance Div. Operating Exp.	26.5B	26.58B	24.63B	24.53B	25.42B
Interest Expense - Finance Division	12M	10M	8M	4M	10M
Gross Profit	27.6B	25.44B	29.25B	32.58B	32.58B
Selling General & Admin Expenses, Total	15.37B	13.29B	10.2B	10.62B	10.95B
R&D Expenses	6.59B	6.12B	5.37B	5.59B	6.23B
Other Operating Expenses	3.13B	-1.42B	-1.34B	-1.09B	-2.08B
Other Operating Expenses, Total	25.09B	17.99B	14.23B	15.12B	15.1B
Operating Income	2.52B	7.45B	15.02B	17.46B	17.48B
Interest Expense, Total	-671M	-312M	-367M	-363M	-202M
Interest And Investment Income	390M	218M	208M	261M	646M
Net Interest Expenses	-281M	-94M	-159M	-102M	444M
Income (Loss) On Equity Invest.	1.24B	1.31B	1.49B	1.94B	2.28B
Other Non Operating Income (Expenses)	-193M	-323M	323M	328M	113M
EBT, Excl. Unusual Items	3.29B	8.34B	16.68B	19.63B	20.32B
Restructuring Charges	-	-1.87B	-684M	-162M	-
Gain (Loss) On Sale Of Investments	-72M	-	604M	385M	-
Gain (Loss) On Sale Of Assets	-105M	-129M	-693M	449M	-238M
Insurance Settlements	-	-	-	-	-
Legal Settlements	-	-	-	-	-
Other Unusual Items	718M	-	-96M	-	-
EBT, Incl. Unusual Items	3.83B	6.34B	15.81B	20.3B	20.08B
Income Tax Expense	1.12B	2.33B	4.76B	5.5B	5.55B
Earnings From Continuing Operations	2.71B	4.01B	11.05B	14.81B	14.53B
Earnings Of Discontinued Operations	-	-	12.35B	-	-
Net Income to Company	2.71B	4.01B	23.4B	14.81B	14.53B
Minority Interest	-332M	-382M	-390M	-308M	-270M
Net Income - (IS)	2.38B	3.63B	23.01B	14.5B	14.26B
Net Income to Common Incl Extra Items	2.38B	3.63B	23.01B	14.5B	14.26B
Net Income to Common Excl. Extra Items	2.38B	3.63B	10.66B	14.5B	14.26B
Per Share Items
Net EPS - Basic	2.22	3.39	21.5	13.55	13.46
Basic EPS - Continuing Operations	2.22	3.39	9.96	13.55	13.46
Basic Weighted Average Shares Outstanding	1.07B	1.07B	1.07B	1.07B	1.06B
Net EPS - Diluted	2.22	3.39	21.5	13.55	13.46
Diluted EPS - Continuing Operations	2.22	3.39	9.96	13.55	13.46
Diluted Weighted Average Shares Outstanding	1.07B	1.07B	1.07B	1.07B	1.06B
Normalized Basic EPS	1.61	4.52	9.38	11.18	11.73
Normalized Diluted EPS	1.61	4.52	9.38	11.18	11.73
Dividend Per Share	0.9	1.35	5	5.2	5.3
Payout Ratio	146.28	26.55	6.28	36.89	38.96
American Depositary Receipts Ratio (ADR)	0.25	0.25	0.25	0.25	0.25
Supplemental Items
EBITDA	7.8B	13.28B	19.23B	21.3B	21.34B
EBITA	3.11B	8.09B	15.51B	17.81B	17.8B
EBIT	2.52B	7.45B	15.02B	17.46B	17.48B
EBITDAR	7.94B	13.39B	19.29B	21.36B	21.39B
Effective Tax Rate - (Ratio)	29.27	36.76	30.11	27.06	27.65
Current Domestic Taxes	51M	358M	-	-	-
Current Foreign Taxes	2.33B	2.18B	-	-	-
Total Current Taxes	2.38B	2.54B	3.28B	5.52B	5.34B
Deferred Domestic Taxes	-1.13B	261M	-	-	-
Deferred Foreign Taxes	-134M	-467M	-	-	-
Total Deferred Taxes	-1.26B	-206M	1.48B	-25M	209M
Normalized Net Income	1.72B	4.83B	10.04B	11.96B	12.43B
Interest Capitalized	31M	43M	45M	79M	113M
Interest on Long-Term Debt	98M	88M	51M	54M	57M
Non-Cash Pension Expense	121M	12M	46M	32M	-9M
Supplemental Operating Expense Items
Selling and Marketing Expenses	12.04B	10.38B	8.38B	8.74B	9.04B
General and Administrative Expenses	3.14B	2.75B	1.77B	1.83B	1.9B
Research And Development Expense From Footnotes	8.38B	8.04B	7.41B	7.65B	8.37B
Net Rental Expense, Total	145M	115M	60M	58M	52M
Imputed Operating Lease Interest Expense	27.02M	10.47M	7.97M	11.76M	4.22M
Imputed Operating Lease Depreciation	118M	105M	52.03M	46.24M	47.78M
Stock-Based Comp., Other (Total)	71M	113M	434M	241M	256M
Total Stock-Based Compensation	71M	113M	434M	241M	256M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	16.15B	20.34B	18.03B	14.09B	13.11B
Short Term Investments	7.42B	5.16B	6.29B	5.97B	5.88B
Total Cash And Short Term Investments	23.57B	25.51B	24.32B	20.06B	18.99B
Accounts Receivable, Total	11.04B	9.93B	6.88B	7.33B	6.58B
Other Receivables	3.95B	3.27B	3.06B	3.26B	3.6B
Total Receivables	14.99B	13.2B	9.94B	10.59B	10.19B
Inventory	28.42B	25.3B	20.98B	24.91B	26.13B
Prepaid Expenses	682M	670M	445M	451M	445M
Finance Division Loans and Leases Current	52.07B	43.2B	34.47B	38.08B	39.16B
Finance Division Other Current Assets, Total	7.27B	6.8B	12.01B	8.02B	7.9B
Other Current Assets, Total	797M	594M	769M	761M	1.22B
Total Current Assets	128B	115B	103B	103B	104B
Net Property Plant And Equipment	55.58B	52.85B	41.9B	40.98B	40.24B
Long-term Investments	4.94B	4.75B	13.42B	13.37B	12.96B
Other Intangibles, Total	15.08B	15.69B	14.39B	15.28B	17.02B
Finance Division Loans and Leases Long-Term	52.88B	53.71B	46.96B	48.24B	49.74B
Finance Division Other Long-Term Assets, Total	39.07B	36.31B	35.28B	33.88B	33.31B
Deferred Tax Assets Long-Term	5.8B	6.26B	3.43B	3.72B	4.13B
Other Long-Term Assets, Total	1.29B	911M	1.54B	1.68B	1.58B
Total Assets	302B	286B	260B	260B	263B
Liabilities
Accounts Payable, Total	11.9B	11.6B	9.67B	11.1B	11.62B
Accrued Expenses, Total	5.97B	6.29B	5.26B	5.6B	5.82B
Finance Division Debt Current	62.6B	59.3B	52.3B	49.79B	44.91B
Finance Division Other Current Liabilities, Total	811M	773M	1.11B	1.1B	1.2B
Current Income Taxes Payable	1.13B	1B	1.46B	1.42B	948M
Unearned Revenue Current, Total	8.89B	8.76B	7.42B	8.29B	8.36B
Other Current Liabilities	14.51B	12.08B	10.47B	11.11B	9.57B
Total Current Liabilities	106B	99.81B	87.68B	88.4B	82.43B
Long-Term Debt	34.51B	27.88B	21.77B	13.12B	48.93B
Finance Division Debt Non Current	64.67B	58.65B	51.77B	48.93B	14.79B
Finance Division Other Non Current Liabilities, Total	-	-	-	-	-
Unearned Revenue Non Current	7.55B	7.35B	5.16B	4.89B	4.74B
Pension & Other Post Retirement Benefits	9.73B	12.07B	5.36B	1.02B	1.09B
Deferred Tax Liability Non Current	3.94B	3.65B	4.49B	6.91B	7.71B
Other Non Current Liabilities	13.4B	14.07B	10.44B	10.2B	10.51B
Total Liabilities	240B	223B	187B	173B	170B
Common Stock, Total	3.07B	3.07B	3.07B	3.07B	3.07B
Retained Earnings	35.14B	47.11B	56.19B	67.7B	76.67B
Treasury Stock	-	-	-	-	-2.26B
Comprehensive Income and Other	23.13B	10.51B	12.69B	14.65B	14.29B
Total Common Equity	61.34B	60.69B	71.95B	85.42B	91.77B
Minority Interest	1.5B	1.56B	1.22B	1.12B	1.04B
Total Equity	62.84B	62.25B	73.17B	86.54B	92.82B
Total Liabilities And Equity	302B	286B	260B	260B	263B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	1.07B	1.07B	1.07B	1.07B	1.04B
ECS Total Common Shares Outstanding	1.07B	1.07B	1.07B	1.07B	1.04B
Book Value / Share	57.34	56.73	67.25	79.84	88.16
Tangible Book Value	45.37B	44.29B	56.95B	69.55B	74.18B
Tangible Book Value Per Share	42.4	41.4	53.23	65.01	71.26
Total Debt	162B	146B	126B	112B	109B
Net Debt	138B	120B	101B	91.66B	89.58B
Debt Equivalent of Unfunded Proj. Benefit Obligation	8.44B	10.98B	4.29B	-82M	1.43B
Debt Equivalent Oper. Leases	1.16B	920M	480M	464M	416M
Minority Interest, Total (Incl. Fin. Div)	1.5B	1.56B	1.22B	1.12B	1.04B
Equity Method Investments, Total	4.84B	4.44B	13.12B	13.26B	12.9B
Account Code - Inventory Valuation	8	8	8	8	8
Full Time Employees	299K	288K	172K	169K	166K

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	2.38B	3.63B	23.01B	14.5B	14.26B
Depreciation & Amortization - CF	5.37B	5.94B	4.43B	4.12B	4.2B
Amortization of Goodwill and Intangible Assets - (CF)	588M	639M	490M	348M	319M
Depreciation & Amortization, Total	5.96B	6.58B	4.92B	4.47B	4.52B
Amortization of Deferred Charges, Total - (CF)	1.79B	1.92B	2.07B	2.06B	2.15B
(Gain) Loss From Sale Of Asset	-761M	131M	-695M	-990M	-92M
Asset Writedown & Restructuring Costs	-	458M	-	-	-
(Income) Loss On Equity Investments - (CF)	1.2B	1.78B	1.62B	1.6B	2.06B
Other Operating Activities, Total	-630M	-117M	-9.56B	-511M	-2.18B
Change In Accounts Receivable	-346M	1.34B	120M	1.03B	1.31B
Change In Inventories	99M	2.04B	-2.56B	-4.11B	-2.73B
Change In Accounts Payable	-1.62B	-299M	1.57B	-	-
Change in Other Net Operating Assets	-179M	4.87B	4.05B	-1.16B	-4.83B
Cash from Operations	7.89B	22.33B	24.55B	16.89B	14.47B
Capital Expenditure	-7.2B	-5.74B	-4.58B	-3.48B	-3.74B
Sale of Property, Plant, and Equipment	429M	365M	826M	469M	285M
Cash Acquisitions	-	-	-	-	-
Sale (Purchase) of Intangible assets	-3.64B	-2.82B	-2.74B	-3.42B	-4.47B
Investment in Marketable and Equity Securities, Total	-171M	1.75B	-1.09B	2.95B	585M
Other Investing Activities, Total	-30M	27M	1.36B	27M	28M
Cash from Investing	-10.61B	-6.42B	-6.23B	-3.45B	-7.32B
Short Term Debt Issued, Total	840M	-	1.46B	172M	-
Long-Term Debt Issued, Total	63.61B	53.71B	42.2B	38.43B	39.29B
Total Debt Issued	64.45B	53.71B	43.66B	38.6B	39.29B
Short Term Debt Repaid, Total	-	-3.26B	-	-	-512M
Long-Term Debt Repaid, Total	-55.04B	-59.95B	-60.86B	-51.94B	-39.47B
Total Debt Repaid	-55.04B	-63.22B	-60.86B	-51.94B	-39.98B
Issuance of Common Stock	85M	31M	36M	-	-
Repurchase of Common Stock	-42M	-30M	-48M	-	-1.94B
Common Dividends Paid	-3.48B	-963M	-1.44B	-5.35B	-5.56B
Common & Preferred Stock Dividends Paid	-3.48B	-963M	-1.44B	-5.35B	-5.56B
Other Financing Activities, Total	-342M	-282M	-403M	-339M	-197M
Cash from Financing	5.63B	-10.75B	-19.06B	-19.03B	-8.39B
Foreign Exchange Rate Adjustments	121M	-999M	870M	88M	-471M
Net Change in Cash	3.03B	4.16B	134M	-5.5B	-1.71B
Supplemental Items
Cash Interest Paid	725M	158M	367M	486M	306M
Cash Income Tax Paid (Refund)	2.11B	1.99B	3.81B	5.01B	5.62B
Levered Free Cash Flow	2.22B	12.99B	8.28B	7.08B	1.31B
Unlevered Free Cash Flow	2.63B	13.19B	8.51B	7.31B	1.44B
Change In Net Working Capital	-4.07B	-8.48B	985M	3.48B	8.2B
Net Debt Issued / Repaid	9.4B	-9.5B	-17.2B	-13.34B	-697M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	0.54	1.58	3.44	4.2	4.18
Return on Total Capital	0.72	2.15	4.61	5.49	5.47
Return On Equity %	4.2	6.41	16.32	18.55	16.2
Return on Common Equity	3.77	5.94	16.07	18.43	16.1
Margin Analysis
Gross Profit Margin %	15.98	16.48	21.85	21.72	21.27
SG&A Margin	8.9	8.61	7.62	7.08	7.15
EBITDA Margin %	4.51	8.6	14.36	14.2	13.93
EBITA Margin %	1.8	5.24	11.59	11.87	11.62
EBIT Margin %	1.46	4.83	11.22	11.64	11.41
Income From Continuing Operations Margin %	1.57	2.6	8.25	9.87	9.48
Net Income Margin %	1.38	2.35	17.18	9.67	9.31
Net Avail. For Common Margin %	1.38	2.35	7.96	9.67	9.31
Normalized Net Income Margin	1	3.13	7.49	7.97	8.11
Levered Free Cash Flow Margin	1.28