MERCEDES-BENZ GROUP AG Mercedes-Benz Group Fact Sheet for Q2 and H1 2022
1 - Cover
| Fact Sheet for Q2 and H1 2022 |
| 27 July 2022 |
2 - Contents
| Contents | |||
| Mercedes-Benz Group | |||
| � Stock Market Information | 3 | ||
| � Earnings and Financial Situation | 4 | - | 17 |
| Information for Divisions | |||
| � Mercedes-Benz Cars | 18 | - | 22 |
| � Mercedes-Benz Vans | 23 | - | 27 |
| � Mercedes-Benz Mobility | 28 | ||
| The spin-off and hive-down of the Daimler commercial vehicle business was completed with the entry of the spin-off and hive-down in the Commercial Register on 9 December 2021, and the Daimler commercial vehicle business was deconsolidated. Income and expenses in connection with the assets and liabilities of the former Daimler Trucks & Buses segment that have been spun off or are being held for sale according to IFRS 5 have been classified and reported as "discontinued operations" since the third quarter of 2021. The figures of 2021 have been adjusted accordingly, so that as of the first quarter of 2021 a division is made in continuing and discontinued operations in the Consolidated Statement of Income. |
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3 - Stock Market
| Stock Market Information | |||||||||
| Q2 | Q3 | Q4 | Q1 | Q2 | Q2 : Q2 | Q1 - Q2 | Q1 - Q2 | YTD : YTD | |
| 2021 | 2021 | 2021 | 2022 | 2022 | Change | 2021 | 2022 | Change | |
| Earnings per share (in EUR) | |||||||||
| basic | 3.36 | 2.31 | 11.82 | 3.26 | 2.91 | -13% | 7.37 | 6.17 | -16% |
| thereof from continuing operations | 2.84 | 1.74 | 2.24 | 3.26 | 2.91 | +2% | 6.02 | 6.17 | +2% |
| diluted | 3.36 | 2.31 | 11.82 | 3.26 | 2.91 | -13% | 7.37 | 6.17 | -16% |
| thereof from continuing operations | 2.84 | 1.74 | 2.24 | 3.26 | 2.91 | +2% | 6.02 | 6.17 | +2% |
| Average number of shares outstanding (in millions) (adjusted for treasury stocks) | |||||||||
| basic | 1,069.8 | 1,069.8 | 1,069.8 | 1,069.8 | 1,069.8 | 0% | 1,069.8 | 1,069.8 | 0% |
| diluted | 1,069.8 | 1,069.8 | 1,069.8 | 1,069.8 | 1,069.8 | 0% | 1,069.8 | 1,069.8 | 0% |
| Number of shares outstanding (at period end, in millions) | 1,069.8 | 1,069.8 | 1,069.8 | 1,069.8 | 1,069.8 | 0% | |||
| Xetra closing price* (at period end, in EUR) | 63.06 | 64.25 | 67.59 | 63.81 | 55.22 | -12% | |||
| Market capitalisation (at period end, in billions of EUR) | 67.46 | 68.74 | 72.31 | 68.27 | 59.08 | -12% | |||
| * When the spin-off and hive-down of the Daimler commercial vehicle business took effect, the historical share prices were retroactively adjusted by a factor of 0.83945 for the period until 9 December 2021. |
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4 - Key Figures
| Key Figures of the Mercedes-Benz Group | |||||||||
| Q2 | Q3 | Q4 | Q1 | Q2 | Q2 : Q2 | Q1 - Q2 | Q1 - Q2 | YTD : YTD | |
| (in millions of EUR) | 2021 | 2021 | 2021 | 2022 | 2022 | Change | 2021 | 2022 | Change |
| Revenue | 43,482 | 40,083 | 43,389 | 34,858 | 36,440 | -16% | 84,499 | 71,298 | -16% |
| thereof from continuing operations | 34,124 | 31,647 | 35,240 | 34,858 | 36,440 | +7% | 67,006 | 71,298 | +6% |
| EBIT | 5,185 | 3,579 | 14,557 | 5,229 | 4,622 | -11% | 10,933 | 9,851 | -10% |
| thereof from continuing operations | 4,374 | 2,838 | 4,115 | 5,229 | 4,622 | +6% | 9,075 | 9,851 | +9% |
| Net profit (loss), Group | 3,704 | 2,573 | 12,746 | 3,586 | 3,198 | -14% | 8,077 | 6,784 | -16% |
| thereof from continuing operations | 3,139 | 1,964 | 2,477 | 3,586 | 3,198 | +2% | 6,609 | 6,784 | +3% |
| Profit (loss) attributable to shareholders of Mercedes-Benz Group AG | 3,598 | 2,470 | 12,648 | 3,490 | 3,107 | -14% | 7,888 | 6,597 | -16% |
| thereof from continuing operations | 3,041 | 1,868 | 2,388 | 3,490 | 3,107 | +2% | 6,439 | 6,597 | +2% |
| Free cash flow industrial business | 2,586 | 2,249 | 1,961 | 1,216 | 1,417 | -45% | 4,396 | 2,633 | -40% |
| thereof from continuing operations | 2,161 | 3,001 | 1,421 | 1,216 | 1,417 | -34% | 3,458 | 2,633 | -24% |
| R&D expenditure total | 2,366 | 2,212 | 2,113 | 1,979 | 2,154 | -9% | 4,780 | 4,133 | -14% |
| Expensed R&D costs | 1,787 | 1,656 | 1,396 | 1,377 | 1,449 | -19% | 3,618 | 2,826 | -22% |
| Capitalised development costs | 579 | 556 | 717 | 602 | 705 | +22% | 1,162 | 1,307 | +12% |
| Amortisation on capitalised development costs | 544 | 510 | 506 | 501 | 506 | -7% | 1,047 | 1,007 | -4% |
| Depreciation and amortisation* | 1,852 | 1,713 | 1,599 | 1,611 | 1,615 | -13% | 3,668 | 3,226 | -12% |
| Capital expenditure total | 1,748 | 1,918 | 2,266 | 1,731 | 2,079 | +19% | 3,743 | 3,810 | +2% |
| Investment in pp&e | 1,048 | 1,106 | 1,239 | 855 | 777 | -26% | 2,234 | 1,632 | -27% |
| Capitalised development costs | 579 | 556 | 717 | 602 | 705 | +22% | 1,162 | 1,307 | +12% |
| Financial investments and other intangible assets | 121 | 256 | 310 | 274 | 597 | +393% | 347 | 871 | +151% |
| * Including amortisation on capitalised development costs and right-of-use assets, excluding depreciation on leased assets. |
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5 - Revenue by Segment
| Revenue by Segment | |||||||||
| Q2 | Q3 | Q4 | Q1 | Q2 | Q2 : Q2 | Q1 - Q2 | Q1 - Q2 | YTD : YTD | |
| (in millions of EUR) | 2021 | 2021 | 2021 | 2022 | 2022 | Change | 2021 | 2022 | Change |
| Mercedes-Benz Cars | 24,974 | 22,434 | 25,380 | 25,836 | 26,999 | +8% | 48,898 | 52,835 | +8% |
| Mercedes-Benz Vans | 3,669 | 3,546 | 4,122 | 3,687 | 4,107 | +12% | 7,067 | 7,794 | +10% |
| Mercedes-Benz Mobility | 6,874 | 6,855 | 7,246 | 6,782 | 6,715 | -2% | 13,840 | 13,497 | -2% |
| Reconciliation | 7,965 | 7,248 | 6,641 | -1,447 | -1,381 | . | 14,694 | -2,828 | . |
| thereof from continuing operations | -1,393 | -1,188 | -1,508 | -1,447 | -1,381 | . | -2,799 | -2,828 | . |
| Mercedes-Benz Group | 43,482 | 40,083 | 43,389 | 34,858 | 36,440 | -16% | 84,499 | 71,298 | -16% |
| thereof from continuing operations | 34,124 | 31,647 | 35,240 | 34,858 | 36,440 | +7% | 67,006 | 71,298 | +6% |
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6 - Revenue by Region
| Revenue from Continuing Operations by Region | |||||||||
| Q2 | Q3 | Q4 | Q1 | Q2 | Q2 : Q2 | Q1 - Q2 | Q1 - Q2 | YTD : YTD | |
| (in millions of EUR) | 2021 | 2021 | 2021 | 2022 | 2022 | Change | 2021 | 2022 | Change |
| Mercedes-Benz Group | 34,124 | 31,647 | 35,240 | 34,858 | 36,440 | +7% | 67,006 | 71,298 | +6% |
| Europe* | 12,879 | 11,635 | 13,457 | 13,207 | 13,515 | +5% | 25,952 | 26,722 | +3% |
| Germany | 5,314 | 4,918 | 5,402 | 5,287 | 5,346 | +1% | 10,413 | 10,633 | +2% |
| North America** | 8,117 | 7,967 | 9,055 | 8,873 | 10,018 | +23% | 16,083 | 18,891 | +17% |
| USA | 7,178 | 6,954 | 8,083 | 7,911 | 8,924 | +24% | 14,247 | 16,835 | +18% |
| Asia | 10,490 | 9,746 | 10,403 | 10,868 | 10,925 | +4% | 19,977 | 21,793 | +9% |
| China*** | 6,618 | 6,131 | 6,477 | 6,804 | 6,823 | +3% | 12,565 | 13,627 | +8% |
| Rest of World | 2,638 | 2,299 | 2,325 | 1,910 | 1,982 | -25% | 4,994 | 3,892 | -22% |
| * European Union, United Kingdom, Switzerland and Norway. | |||||||||
| ** USA, Canada and Mexico. | |||||||||
| *** Excluding revenue of not fully consolidated companies. |
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7 - EBIT Group
| Earnings before Interest and Taxes (EBIT) of the Mercedes-Benz Group | |||||||||
| Q2 | Q3 | Q4 | Q1 | Q2 | Q2 : Q2 | Q1 - Q2 | Q1 - Q2 | YTD : YTD | |
| (in millions of EUR) | 2021 | 2021 | 2021 | 2022 | 2022 | Change | 2021 | 2022 | Change |
| Revenue (from continuing operations) | 34,124 | 31,647 | 35,240 | 34,858 | 36,440 | +7% | 67,006 | 71,298 | +6% |
| Cost of sales | -26,222 | -24,933 | -26,567 | -26,894 | -27,938 | . | -51,718 | -54,832 | . |
| Gross profit | 7,902 | 6,714 | 8,673 | 7,964 | 8,502 | +8% | 15,288 | 16,466 | +8% |
| Selling expenses | -2,245 | -2,199 | -2,535 | -2,225 | -2,406 | . | -4,460 | -4,631 | . |
| General administrative expenses | -651 | -707 | -771 | -610 | -590 | . | -1,330 | -1,200 | . |
| Research and non-capitalised development costs | -1,484 | -1,351 | -1,116 | -1,377 | -1,449 | . | -3,000 | -2,826 | . |
| Others | 852 | 381 | -136 | 1,477 | 565 | -34% | 2,577 | 2,042 | -21% |
| EBIT (from continuing operations) | 4,374 | 2,838 | 4,115 | 5,229 | 4,622 | +6% | 9,075 | 9,851 | +9% |
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8 - EBIT Cars
| Earnings before Interest and Taxes (EBIT) of Mercedes-Benz Cars | |||||||||
| Q2 | Q3 | Q4 | Q1 | Q2 | Q2 : Q2 | Q1 - Q2 | Q1 - Q2 | YTD : YTD | |
| (in millions of EUR) | 2021 | 2021 | 2021 | 2022 | 2022 | Change | 2021 | 2022 | Change |
| Revenue (from continuing operations) | 24,974 | 22,434 | 25,380 | 25,836 | 26,999 | +8% | 48,898 | 52,835 | +8% |
| Cost of sales | -19,123 | -17,597 | -18,856 | -19,653 | -20,368 | . | -37,320 | -40,021 | . |
| Gross profit | 5,851 | 4,837 | 6,524 | 6,183 | 6,631 | +13% | 11,578 | 12,814 | +11% |
| Selling expenses | -1,863 | -1,759 | -1,976 | -1,761 | -1,925 | . | -3,619 | -3,686 | . |
| General administrative expenses | -355 | -337 | -399 | -364 | -348 | . | -689 | -712 | . |
| Research and non-capitalised development costs | -1,361 | -1,217 | -1,016 | -1,277 | -1,264 | . | -2,759 | -2,541 | . |
| Others | 749 | 314 | 705 | 1,490 | 698 | -7% | 2,300 | 2,188 | -5% |
| EBIT (from continuing operations) | 3,021 | 1,838 | 3,838 | 4,271 | 3,792 | +26% | 6,811 | 8,063 | +18% |
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9 - EBIT Vans
| Earnings before Interest and Taxes (EBIT) of Mercedes-Benz Vans | |||||||||
| Q2 | Q3 | Q4 | Q1 | Q2 | Q2 : Q2 | Q1 - Q2 | Q1 - Q2 | YTD : YTD | |
| (in millions of EUR) | 2021 | 2021 | 2021 | 2022 | 2022 | Change | 2021 | 2022 | Change |
| Revenue (from continuing operations) | 3,669 | 3,546 | 4,122 | 3,687 | 4,107 | +12% | 7,067 | 7,794 | +10% |
| Cost of sales | -2,796 | -2,927 | -3,315 | -2,890 | -3,224 | . | -5,487 | -6,114 | . |
| Gross profit | 873 | 619 | 807 | 797 | 883 | +1% | 1,580 | 1,680 | +6% |
| Selling expenses | -290 | -299 | -406 | -299 | -313 | . | -587 | -612 | . |
| General administrative expenses | -59 | -58 | -63 | -59 | -69 | . | -112 | -128 | . |
| Research and non-capitalised development costs | -112 | -125 | -93 | -75 | -166 | . | -224 | -241 | . |
| Others | 20 | 28 | 11 | -16 | 47 | +135% | 65 | 31 | -52% |
| EBIT (from continuing operations) | 432 | 165 | 256 | 348 | 382 | -12% | 722 | 730 | +1% |
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10 - EBIT Mobility
| Earnings before Interest and Taxes (EBIT) of Mercedes-Benz Mobility | |||||||||
| Q2 | Q3 | Q4 | Q1 | Q2 | Q2 : Q2 | Q1 - Q2 | Q1 - Q2 | YTD : YTD | |
| (in millions of EUR) | 2021 | 2021 | 2021 | 2022 | 2022 | Change | 2021 | 2022 | Change |
| Revenue (from continuing operations) | 6,874 | 6,855 | 7,246 | 6,782 | 6,715 | -2% | 13,840 | 13,497 | -2% |
| Cost of sales | -5,560 | -5,574 | -5,848 | -5,734 | -5,694 | . | -11,468 | -11,428 | . |
| Gross profit | 1,314 | 1,281 | 1,398 | 1,048 | 1,021 | -22% | 2,372 | 2,069 | -13% |
| Selling expenses | -173 | -165 | -185 | -160 | -181 | . | -342 | -341 | . |
| General administrative expenses | -221 | -198 | -287 | -182 | -203 | . | -415 | -385 | . |
| Research and non-capitalised development costs | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | . | 0.0 | 0.0 | . |
| Others | 4 | 25 | -44 | 27 | -13 | . | 53 | 14 | -74% |
| EBIT (from continuing operations) | 924 | 943 | 882 | 733 | 624 | -32% | 1,668 | 1,357 | -19% |
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11 - EBIT RoS RoE
| EBIT and Return on Sales (RoS)/Return on Equity (RoE) | |||||||||
| Q2 | Q3 | Q4 | Q1 | Q2 | Q2 : Q2 | Q1 - Q2 | Q1 - Q2 | YTD : YTD | |
| (EBIT in millions of EUR, RoS/RoE in %) | 2021 | 2021 | 2021 | 2022 | 2022 | Change | 2021 | 2022 | Change |
| Mercedes-Benz Cars | |||||||||
| EBIT | 3,021 | 1,838 | 3,838 | 4,271 | 3,792 | +26% | 6,811 | 8,063 | +18% |
| RoS | 1209.7% | 819.3% | 1512.2% | 1653.1% | 1400.0% | . | 1392.9% | 1526.1% | . |
| Mercedes-Benz Vans | |||||||||
| EBIT | 432 | 165 | 256 | 348 | 382 | -12% | 722 | 730 | +1% |
| RoS | 1177.4% | 465.3% | 621.1% | 943.9% | 930.0% | . | 1021.7% | 936.6% | . |
| Mercedes-Benz Mobility | |||||||||
| EBIT | 924 | 943 | 882 | 733 | 624 | -32% | 1,668 | 1,357 | -19% |
| RoE | 2390.0% | 2330.0% | 2160.0% | 2020.0% | 1710.0% | . | 2210.0% | 1860.0% | . |
| Reconciliation | |||||||||
| EBIT | 808 | 633 | 9,581 | -123 | -176 | . | 1,732 | -299 | . |
| thereof from continuing operations | -3 | -108 | -861 | -123 | -176 | . | -126 | -299 | . |
| Mercedes-Benz Group | |||||||||
| EBIT | 5,185 | 3,579 | 14,557 | 5,229 | 4,622 | -11% | 10,933 | 9,851 | -10% |
| thereof from continuing operations | 4,374 | 2,838 | 4,115 | 5,229 | 4,622 | +6% | 9,075 | 9,851 | +9% |
&"MB Corpo S Text Office Light,Standard"&10 11
12 - Adjustments
| Adjustments Affecting EBIT from Continuing Operations | ||||||||||
| Q2 | Q3 | Q4 | Q1 | Q2 | Q2 : Q2 | Q1 - Q2 | Q1 - Q2 | YTD : YTD | ||
| (in millions of EUR) | 2021 | 2021 | 2021 | 2022 | 2022 | Change | 2021 | 2022 | Change | |
| Mercedes-Benz Cars | Legal proceedings and related measures | 124 | 52 | 39 | 177 | 41 | -67% | 183 | 218 | +19% |
| Restructuring measures | 56 | 95 | 15 | 0.0 | 0.0 | -100% | 326 | 0.0 | -100% | |
| M&A transactions | 0.0 | 0.0 | 96 | -863 | 0.0 | . | -604 | -863 | . | |
| Expenses in connection with business activities in Russia | 0.0 | 0.0 | 0.0 | 658 | 0.0 | . | 0.0 | 658 | . | |
| Mercedes-Benz Vans | Legal proceedings and related measures | -17 | 22 | 38 | 103 | 32 | . | -1 | 135 | . |
| Restructuring measures | 3 | 2 | 0.0 | 0.0 | 0.0 | -100% | 25 | 0.0 | -100% | |
| M&A transactions | 0.0 | 0.0 | 0.0 | -36 | 0.0 | . | 0.0 | -36 | . | |
| Expenses in connection with business activities in Russia | 0.0 | 0.0 | 0.0 | 51 | 0.0 | . | 0.0 | 51 | . | |
| Mercedes-Benz Mobility | Restructuring measures | 6 | 0.0 | 3 | 0.0 | 0.0 | -100% | 42 | 0.0 | -100% |
| M&A transactions | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | . | -89 | 0.0 | . | |
| Reconciliation | Legal proceedings and related measures | 0.0 | 0.0 | 1 | 1 | 0.0 | . | 0.0 | 1 | . |
| Restructuring measures | 0.0 | 4 | 4 | 0.0 | 0.0 | . | 33 | 0.0 | -100% | |
| M&A transactions | 15 | 96 | 733 | -19 | 244 | . | 15 | 225 | . |
&"MB Corpo S Text Office Light,Standard"&10 12
13 - EBIT Adjusted
| EBIT Adjusted and RoS/RoE Adjusted | |||||||||
| Q2 | Q3 | Q4 | Q1 | Q2 | Q2 : Q2 | Q1 - Q2 | Q1 - Q2 | YTD : YTD | |
| (EBIT in millions of EUR, RoS/RoE in %) | 2021 | 2021 | 2021 | 2022 | 2022 | Change | 2021 | 2022 | Change |
| Mercedes-Benz Cars | |||||||||
| EBIT adjusted | 3,201 | 1,985 | 3,988 | 4,243 | 3,833 | +20% | 6,716 | 8,076 | +20% |
| RoS adjusted | 1281.7% | 884.8% | 1571.3% | 1642.3% | 1419.7% | . | 1373.5% | 1528.5% | . |
| Mercedes-Benz Vans | |||||||||
| EBIT adjusted | 418 | 189 | 294 | 466 | 414 | -1% | 746 | 880 | +18% |
| RoS adjusted | 1139.3% | 533.0% | 713.3% | 1263.9% | 1008.0% | . | 1055.6% | 1129.1% | . |
| Mercedes-Benz Mobility | |||||||||
| EBIT adjusted | 930 | 943 | 885 | 733 | 624 | -33% | 1,621 | 1,357 | -16% |
| RoE adjusted | 2400.0% | 2330.0% | 2170.0% | 2020.0% | 1710.0% | . | 2140.0% | 1860.0% | . |
| Reconciliation | |||||||||
| EBIT adjusted | 871 | 494 | 64 | -141 | 68 | -92% | 1,305 | -73 | . |
| thereof from continuing operations | 12 | -8 | -123 | -141 | 68 | +467% | -78 | -73 | . |
| Mercedes-Benz Group | |||||||||
| EBIT adjusted | 5,420 | 3,611 | 5,231 | 5,301 | 4,939 | -9% | 10,388 | 10,240 | -1% |
| thereof from continuing operations | 4,561 | 3,109 | 5,044 | 5,301 | 4,939 | +8% | 9,005 | 10,240 | +14% |
&"MB Corpo S Text Office Light,Standard"&10 13
14 - FCF Net Liquidit...
| Free Cash Flow and Net Liquidity of the Industrial Business | |||||||||
| Q2 | Q3 | Q4 | Q1 | Q2 | Q2 : Q2 | Q1 - Q2 | Q1 - Q2 | YTD : YTD | |
| (in millions of EUR) | 2021 | 2021 | 2021 | 2022 | 2022 | Change | 2021 | 2022 | Change |
| Net liquidity at the beginning of the period | 20,092 | 20,863 | 23,458 | 21,005 | 22,706 | +13% | 17,855 | 21,005 | +18% |
| Free cash flow* | 2,586 | 2,249 | 1,961 | 1,216 | 1,417 | -45% | 4,396 | 2,633 | -40% |
| thereof working capital** | -278 | 21 | -1,733 | -930 | -1,309 | . | 341 | -2,239 | . |
| Other | -1,815 | 346 | -4,414 | 485 | -4,983 | . | -1,388 | -4,498 | . |
| thereof dividends Mercedes-Benz Group AG | -1,444 | 0.0 | 0.0 | 0.0 | -5,349 | . | -1,444 | -5,349 | . |
| thereof net liquidity of the former Daimler Trucks & Buses segment | 0.0 | 0.0 | -5,858 | 0.0 | 0.0 | . | 0.0 | 0.0 | . |
| Net liquidity at the end of the period | 20,863 | 23,458 | 21,005 | 22,706 | 19,140 | -8% | 20,863 | 19,140 | -8% |
| * Including former Daimler Trucks & Buses segment until the spin-off and hive-down took effect on 9 December 2021. | |||||||||
| ** Inventories, trade receivables and trade payables. |
&"MB Corpo S Text Office Light,Standard"&10 14
15 - Liquidity
| Liquidity* | |||||||||
| Q2 | Q3 | Q4 | Q1 | Q2 | Q2 : Q2 | Q4 | Q2 | Q2 : Q4 | |
| (at period end, in millions of EUR) | 2021 | 2021 | 2021 | 2022 | 2022 | Change | 2021 | 2022 | Change |
| Group liquidity | |||||||||
| Cash and cash equivalents | 26,180 | 25,356 | 23,182 | 18,252 | 14,333 | -45% | 23,182 | 14,333 | -38% |
| Marketable debt securities and similar investments | 5,849 | 6,261 | 7,579 | 7,023 | 6,171 | +6% | 7,579 | 6,171 | -19% |
| Gross liquidity | 32,029 | 31,617 | 30,761 | 25,275 | 20,504 | -36% | 30,761 | 20,504 | -33% |
| Financing liabilities (nominal) | -142,001 | -135,790 | -125,578 | -119,008 | -117,273 | . | -125,578 | -117,273 | . |
| Net debt | -109,972 | -104,173 | -94,817 | -93,733 | -96,769 | . | -94,817 | -96,769 | . |
| Liquidity of the industrial business | |||||||||
| Cash and cash equivalents | 22,664 | 21,675 | 18,034 | 14,374 | 10,227 | -55% | 18,034 | 10,227 | -43% |
| Marketable debt securities and similar investments | 4,915 | 5,299 | 6,591 | 6,014 | 5,160 | +5% | 6,591 | 5,160 | -22% |
| Gross liquidity | 27,579 | 26,974 | 24,625 | 20,388 | 15,387 | -44% | 24,625 | 15,387 | -38% |
| Financing liabilities (nominal) | -6,716 | -3,516 | -3,620 | 2,318 | 3,753 | . | -3,620 | 3,753 | . |
| Net liquidity | 20,863 | 23,458 | 21,005 | 22,706 | 19,140 | -8% | 21,005 | 19,140 | -9% |
| * Including former Daimler Trucks & Buses segment until the spin-off and hive-down took effect on 9 December 2021. |
&"MB Corpo S Text Office Light,Standard"&10 15
16 - Recon CFBIT to FCF IB
| Reconciliation from CFBIT* to Free Cash Flow of the Industrial Business from Continuing Operations | |||||||||
| Q2 | Q3 | Q4 | Q1 | Q2 | Q2 : Q2 | Q1 - Q2 | Q1 - Q2 | YTD : YTD | |
| (in millions of EUR) | 2021 | 2021 | 2021 | 2022 | 2022 | Change | 2021 | 2022 | Change |
| CFBIT of Mercedes-Benz Cars | 2,290 | 3,253 | 1,533 | 1,847 | 2,393 | +4% | 4,558 | 4,240 | -7% |
| CFBIT of Mercedes-Benz Vans | 201 | 402 | 519 | 378 | 254 | +26% | -95 | 632 | . |
| Income taxes paid/refunded | -478 | -441 | -613 | -609 | -985 | . | -816 | -1,594 | . |
| Interest paid/received | 49 | -236 | 104 | -165 | 14 | -71% | -32 | -151 | . |
| Other reconciling items | 99 | 23 | -122 | -235 | -259 | . | -157 | -494 | . |
| Free cash flow industrial business (IB) | 2,161 | 3,001 | 1,421 | 1,216 | 1,417 | -34% | 3,458 | 2,633 | -24% |
| Adjustments | 322 | 520 | 195 | -6 | 652 | +102% | 1,530 | 646 | -58% |
| Free cash flow IB adjusted | 2,483 | 3,521 | 1,616 | 1,210 | 2,069 | -17% | 4,988 | 3,279 | -34% |
| * Cash flow before interest and taxes. |
&"MB Corpo S Text Office Light,Standard"&10 16
17 - Pension and Health...
| Pension and Health-Care Benefits | |||||||||
| Q2 | Q3 | Q4 | Q1 | Q2 | Q2 : Q2 | Q4 | Q2 | Q2 : Q4 | |
| (at period end, in millions of EUR) | 2021 | 2021 | 2021 | 2022 | 2022 | Change | 2021 | 2022 | Change |
| Pension benefits | |||||||||
| Benefit obligations* | 36,872 | 28,577 | 28,504 | 25,092 | 20,713 | -44% | 28,504 | 20,713 | -27% |
| Plan assets* | 29,265 | 23,422 | 24,212 | 23,426 | 21,173 | -28% | 24,212 | 21,173 | -13% |
| Funded status | -7,607 | -5,155 | -4,292 | -1,666 | 460 | . | -4,292 | 460 | . |
| Funding ratio | 79.4% | 82.0% | 84.9% | 93.4% | 102.2% | . | 84.9% | 102.2% | . |
| Health-care benefits | |||||||||
| Benefit obligations / funded status | 1,042 | 443 | 445 | 451 | 476 | -54% | 445 | 476 | +7% |
| * As of 31 December 2021, present value of the defined benefit obligations reduced by €8.1 billion and fair value of plan assets reduced by €6.1 billion resulting from the spin-off of Daimler's commercial vehicle business. |
&"MB Corpo S Text Office Light,Standard"&10 17
18 - MBC Overview
| Mercedes-Benz Cars - Overview | |||||||||
| Q2 | Q3 | Q4 | Q1 | Q2 | Q2 : Q2 | Q1 - Q2 | Q1 - Q2 | YTD : YTD | |
| 2021 | 2021 | 2021 | 2022 | 2022 | Change | 2021 | 2022 | Change | |
| Unit sales (units) | 521,190 | 383,450 | 500,421 | 487,008 | 487,116 | -7% | 1,060,059 | 974,124 | -8% |
| Retail sales (units) | 591,725 | 434,784 | 475,968 | 501,625 | 496,419 | -16% | 1,182,724 | 998,044 | -16% |
| Production (units) | 499,186 | 399,798 | 511,114 | 530,318 | 521,660 | +5% | 1,042,111 | 1,051,978 | +1% |
| Revenue (millions of EUR) | 24,974 | 22,434 | 25,380 | 25,836 | 26,999 | +8% | 48,898 | 52,835 | +8% |
| EBIT (millions of EUR) | 3,021 | 1,838 | 3,838 | 4,271 | 3,792 | +26% | 6,811 | 8,063 | +18% |
| EBIT adjusted (millions of EUR) | 3,201 | 1,985 | 3,988 | 4,243 | 3,833 | +20% | 6,716 | 8,076 | +20% |
| Return on sales (%) | 12.1% | 8.2% | 15.1% | 16.5% | 14.0% | . | 13.9% | 15.3% | . |
| Return on sales adjusted (%) | 12.8% | 8.8% | 15.7% | 16.4% | 14.2% | . | 13.7% | 15.3% | . |
| CFBIT (millions of EUR) | 2,290 | 3,253 | 1,533 | 1,847 | 2,393 | +4% | 4,558 | 4,240 | -7% |
| CFBIT adjusted (millions of EUR) | 2,495 | 3,626 | 1,646 | 1,680 | 2,948 | +18% | 5,442 | 4,628 | -15% |
| Cash conversion rate adjusted* | 0.8 | 1.8 | 0.4 | 0.4 | 0.8 | . | 0.8 | 0.6 | . |
| * Ratio of CFBIT adjusted to EBIT adjusted. |
&"MB Corpo S Text Office Light,Standard"&10 18
19 - MBC Sales by Region
| Mercedes-Benz Cars - Unit Sales by Region | |||||||||
| Q2 | Q3 | Q4 | Q1 | Q2 | Q2 : Q2 | Q1 - Q2 | Q1 - Q2 | YTD : YTD | |
| (in units) | 2021 | 2021 | 2021 | 2022 | 2022 | Change | 2021 | 2022 | Change |
| Wholesales (including smart) | 521,190 | 383,450 | 500,421 | 487,008 | 487,116 | -7% | 1,060,059 | 974,124 | -8% |
| Europe* | 155,738 | 120,087 | 161,228 | 151,343 | 149,909 | -4% | 321,113 | 301,252 | -6% |
| Germany | 53,381 | 45,074 | 63,791 | 49,992 | 47,616 | -11% | 109,501 | 97,608 | -11% |
| North America** | 78,882 | 56,336 | 73,308 | 74,188 | 96,232 | +22% | 160,983 | 170,420 | +6% |
| USA | 68,297 | 46,198 | 64,181 | 64,723 | 83,249 | +22% | 141,065 | 147,972 | +5% |
| Asia | 251,572 | 180,674 | 241,040 | 239,443 | 217,403 | -14% | 509,882 | 456,846 | -10% |
| China | 199,200 | 132,579 | 194,809 | 186,087 | 164,611 | -17% | 407,270 | 350,698 | -14% |
| of which locally produced vehicles | 149,385 | 89,390 | 155,618 | 142,246 | 124,657 | -17% | 316,000 | 266,903 | -16% |
| Rest of World | 34,998 | 26,353 | 24,845 | 22,034 | 23,572 | -33% | 68,081 | 45,606 | -33% |
| * European Union, United Kingdom, Switzerland and Norway. | |||||||||
| ** USA, Canada and Mexico. |
&"MB Corpo S Text Office Light,Standard"&10 19
20 - MBC Sales by Segment
| Mercedes-Benz Cars - Unit Sales by Segment | |||||||||
| Q2 | Q3 | Q4 | Q1 | Q2 | Q2 : Q2 | Q1 - Q2 | Q1 - Q2 | YTD : YTD | |
| (in units) | 2021 | 2021 | 2021 | 2022 | 2022 | Change | 2021 | 2022 | Change |
| Wholesales | 521,190 | 383,450 | 500,421 | 487,008 | 487,116 | -7% | 1,060,059 | 974,124 | -8% |
| Top-End Luxury | 77,904 | 74,755 | 77,328 | 78,071 | 75,462 | -3% | 152,509 | 153,533 | +1% |
| Core Luxury | 266,194 | 193,274 | 276,196 | 280,175 | 272,593 | +2% | 559,534 | 552,768 | -1% |
| Entry Luxury | 177,092 | 115,421 | 146,897 | 128,762 | 139,061 | -21% | 348,016 | 267,823 | -23% |
| thereof smart | 10,143 | 6,417 | 11,470 | 6,209 | 6,027 | -41% | 20,528 | 12,236 | -40% |
&"MB Corpo S Text Office Light,Standard"&10 20
21 - MBC Retail Sales
| Mercedes-Benz Cars - Retail Sales | |||||||||
| Q2 | Q3 | Q4 | Q1 | Q2 | Q2 : Q2 | Q1 - Q2 | Q1 - Q2 | YTD : YTD | |
| (in units) | 2021 | 2021 | 2021 | 2022 | 2022 | Change | 2021 | 2022 | Change |
| Retail sales | 591,725 | 434,784 | 475,968 | 501,625 | 496,419 | -16% | 1,182,724 | 998,044 | -16% |
| Europe* | 182,551 | 135,906 | 166,588 | 157,384 | 160,760 | -12% | 367,684 | 318,144 | -13% |
| Germany | 59,428 | 49,307 | 68,698 | 54,603 | 53,992 | -9% | 119,677 | 108,595 | -9% |
| North America** | 93,987 | 65,782 | 70,370 | 70,693 | 90,981 | -3% | 182,305 | 161,674 | -11% |
| USA | 82,390 | 55,131 | 60,326 | 62,251 | 79,105 | -4% | 160,646 | 141,356 | -12% |
| Asia | 277,434 | 203,901 | 212,166 | 249,039 | 220,855 | -20% | 560,015 | 469,894 | -16% |
| China | 220,448 | 151,756 | 167,711 | 192,713 | 164,667 | -25% | 444,239 | 357,380 | -20% |
| of which locally produced vehicles | 170,434 | 103,539 | 131,636 | 152,366 | 130,604 | -23% | 351,629 | 282,970 | -20% |
| Rest of World | 37,753 | 29,195 | 26,844 | 24,509 | 23,823 | -37% | 72,720 | 48,332 | -34% |
| Included in MBC retail sales: | |||||||||
| smart | 10,524 | 6,423 | 11,838 | 6,395 | 6,440 | -39% | 20,253 | 12,835 | -37% |
| T-Class/V-Class/X-Class | 17,686 | 13,061 | 16,407 | 14,066 | 15,975 | -10% | 31,345 | 30,041 | -4% |
| * European Union, United Kingdom, Switzerland and Norway. | |||||||||
| ** USA, Canada and Mexico. |
&"MB Corpo S Text Office Light,Standard"&10 21
22 - MBC Recon EBIT to ...
| Mercedes-Benz Cars - Reconciliation from EBIT to CFBIT | |||||||||
| Q2 | Q3 | Q4 | Q1 | Q2 | Q2 : Q2 | Q1 - Q2 | Q1 - Q2 | YTD : YTD | |
| (in millions of EUR) | 2021 | 2021 | 2021 | 2022 | 2022 | Change | 2021 | 2022 | Change |
| EBIT | 3,021 | 1,838 | 3,838 | 4,271 | 3,792 | +26% | 6,811 | 8,063 | +18% |
| Change in working capital | -16 | 965 | -2,659 | -884 | -1,172 | . | 1,011 | -2,056 | . |
| Net financial investments | -10 | -229 | -72 | 414 | -518 | . | 176 | -104 | . |
| Net investments in property, plant and equipment and intangible assets | -1,534 | -1,334 | -1,465 | -1,426 | -1,574 | . | -3,074 | -3,000 | . |
| Depreciation and amortisation/impairments | 1,426 | 1,460 | 1,419 | 1,458 | 1,476 | +4% | 2,812 | 2,934 | +4% |
| Other | -597 | 553 | 472 | -1,986 | 389 | . | -3,178 | -1,597 | . |
| CFBIT | 2,290 | 3,253 | 1,533 | 1,847 | 2,393 | +4% | 4,558 | 4,240 | -7% |
| Adjustments | 205 | 373 | 113 | -167 | 555 | +171% | 884 | 388 | -56% |
| CFBIT adjusted | 2,495 | 3,626 | 1,646 | 1,680 | 2,948 | +18% | 5,442 | 4,628 | -15% |
| Cash conversion rate adjusted* | 0.8 | 1.8 | 0.4 | 0.4 | 0.8 | . | 0.8 | 0.6 | . |
| * Ratio of CFBIT adjusted to EBIT adjusted. |
&"MB Corpo S Text Office Light,Standard"&10 22
23 - MBV Overview
| Mercedes-Benz Vans - Overview | |||||||||
| Q2 | Q3 | Q4 | Q1 | Q2 | Q2 : Q2 | Q1 - Q2 | Q1 - Q2 | YTD : YTD | |
| 2021 | 2021 | 2021 | 2022 | 2022 | Change | 2021 | 2022 | Change | |
| Unit sales (units) | 98,368 | 87,954 | 111,499 | 88,508 | 100,125 | +2% | 186,786 | 188,633 | +1% |
| Retail sales (units) | 84,190 | 83,160 | 90,487 | 75,873 | 83,930 | -0% | 160,518 | 159,803 | -0% |
| Production (units) | 99,493 | 82,954 | 112,024 | 88,285 | 110,965 | +12% | 193,681 | 199,250 | +3% |
| Revenue (millions of EUR) | 3,669 | 3,546 | 4,122 | 3,687 | 4,107 | +12% | 7,067 | 7,794 | +10% |
| EBIT (millions of EUR) | 432 | 165 | 256 | 348 | 382 | -12% | 722 | 730 | +1% |
| EBIT adjusted (millions of EUR) | 418 | 189 | 294 | 466 | 414 | -1% | 746 | 880 | +18% |
| Return on sales (%) | 11.8% | 4.7% | 6.2% | 9.4% | 9.3% | . | 10.2% | 9.4% | . |
| Return on sales adjusted (%) | 11.4% | 5.3% | 7.1% | 12.6% | 10.1% | . | 10.6% | 11.3% | . |
| CFBIT (millions of EUR) | 201 | 402 | 519 | 378 | 254 | +26% | -95 | 632 | . |
| CFBIT adjusted (millions of EUR) | 299 | 504 | 592 | 437 | 333 | +11% | 485 | 770 | +59% |
| Cash conversion rate adjusted* | 0.7 | 2.7 | 2.0 | 0.9 | 0.8 | . | 0.7 | 0.9 | . |
| * Ratio of CFBIT adjusted to EBIT adjusted. |
&"MB Corpo S Text Office Light,Standard"&10 23
24 - MBV Sales by Region
| Mercedes-Benz Vans - Unit Sales by Region | |||||||||
| Q2 | Q3 | Q4 | Q1 | Q2 | Q2 : Q2 | Q1 - Q2 | Q1 - Q2 | YTD : YTD | |
| (in units) | 2021 | 2021 | 2021 | 2022 | 2022 | Change | 2021 | 2022 | Change |
| Wholesales (including T-/V-/X-Class) | 98,368 | 87,954 | 111,499 | 88,508 | 100,125 | +2% | 186,786 | 188,633 | +1% |
| Europe* | 65,390 | 51,666 | 71,437 | 52,716 | 59,998 | -8% | 122,870 | 112,714 | -8% |
| Germany | 27,619 | 22,110 | 28,031 | 19,702 | 24,425 | -12% | 48,029 | 44,127 | -8% |
| North America** | 9,664 | 18,305 | 16,140 | 17,415 | 21,828 | +126% | 20,813 | 39,243 | +89% |
| USA | 8,542 | 16,056 | 14,243 | 14,769 | 19,397 | +127% | 18,012 | 34,166 | +90% |
| Asia | 12,697 | 8,912 | 13,796 | 9,920 | 9,971 | -21% | 22,794 | 19,891 | -13% |
| China | 10,953 | 7,525 | 11,481 | 8,120 | 7,742 | -29% | 19,461 | 15,862 | -18% |
| Rest of World | 10,617 | 9,071 | 10,126 | 8,457 | 8,328 | -22% | 20,309 | 16,785 | -17% |
| * European Union, United Kingdom, Switzerland and Norway. | |||||||||
| ** USA, Canada and Mexico. |
&"MB Corpo S Text Office Light,Standard"&10 24
25 - MBV Sales by Segment
| Mercedes-Benz Vans - Unit Sales by Segment | |||||||||
| Q2 | Q3 | Q4 | Q1 | Q2 | Q2 : Q2 | Q1 - Q2 | Q1 - Q2 | YTD : YTD | |
| (in units) | 2021 | 2021 | 2021 | 2022 | 2022 | Change | 2021 | 2022 | Change |
| Wholesales | 98,368 | 87,954 | 111,499 | 88,508 | 100,125 | +2% | 186,786 | 188,633 | +1% |
| Sprinter | 50,162 | 52,603 | 61,859 | 43,861 | 50,375 | +0% | 92,199 | 94,236 | +2% |
| Vito | 27,472 | 20,842 | 28,520 | 25,995 | 29,308 | +7% | 55,961 | 55,303 | -1% |
| V-Class | 17,119 | 12,333 | 16,674 | 14,319 | 16,257 | -5% | 31,726 | 30,576 | -4% |
| X-Class | 48 | 25 | 22 | 5 | 2 | -96% | 168 | 7 | -96% |
| T-Class/Citan | 3,567 | 2,151 | 4,424 | 4,328 | 4,183 | +17% | 6,732 | 8,511 | +26% |
&"MB Corpo S Text Office Light,Standard"&10 25
26 - MBV Retail Sales
| Mercedes-Benz Vans - Retail Sales | |||||||||
| Q2 | Q3 | Q4 | Q1 | Q2 | Q2 : Q2 | Q1 - Q2 | Q1 - Q2 | YTD : YTD | |
| (in units) | 2021 | 2021 | 2021 | 2022 | 2022 | Change | 2021 | 2022 | Change |
| Retail sales (excluding T-/V-/X-Class) | 84,190 | 83,160 | 90,487 | 75,873 | 83,930 | -0% | 160,518 | 159,803 | -0% |
| Europe* | 57,573 | 50,350 | 57,537 | 46,375 | 48,688 | -15% | 108,023 | 95,063 | -12% |
| Germany | 21,572 | 17,877 | 23,124 | 15,091 | 18,049 | -16% | 37,853 | 33,140 | -12% |
| North America** | 11,415 | 18,492 | 17,579 | 16,227 | 22,149 | +94% | 25,043 | 38,376 | +53% |
| USA | 10,053 | 16,055 | 15,705 | 13,688 | 19,730 | +96% | 21,712 | 33,418 | +54% |
| Asia | 5,840 | 4,870 | 5,277 | 4,986 | 4,755 | -19% | 10,113 | 9,741 | -4% |
| China | 4,784 | 4,132 | 4,572 | 3,873 | 3,823 | -20% | 8,108 | 7,696 | -5% |
| Rest of World | 9,362 | 9,448 | 10,094 | 8,285 | 8,338 | -11% | 17,339 | 16,623 | -4% |
| * European Union, United Kingdom, Switzerland and Norway. | |||||||||
| ** USA, Canada and Mexico. |
&"MB Corpo S Text Office Light,Standard"&10 26
27 - MBV Recon EBIT to ...
| Mercedes-Benz Vans - Reconciliation from EBIT to CFBIT | |||||||||
| Q2 | Q3 | Q4 | Q1 | Q2 | Q2 : Q2 | Q1 - Q2 | Q1 - Q2 | YTD : YTD | |
| (in millions of EUR) | 2021 | 2021 | 2021 | 2022 | 2022 | Change | 2021 | 2022 | Change |
| EBIT | 432 | 165 | 256 | 348 | 382 | -12% | 722 | 730 | +1% |
| Change in working capital | -183 | 209 | 135 | 55 | -161 | . | -364 | -106 | . |
| Net financial investments | 1 | 0.0 | 6 | 43 | 1 | 0% | 1 | 44 | . |
| Net investments in property, plant and equipment and intangible assets | -53 | -27 | -96 | -34 | -68 | . | -99 | -102 | . |
| Depreciation and amortisation/impairments | 117 | 120 | 133 | 122 | 110 | -6% | 232 | 232 | 0% |
| Other | -113 | -65 | 85 | -156 | -10 | . | -587 | -166 | . |
| CFBIT | 201 | 402 | 519 | 378 | 254 | +26% | -95 | 632 | . |
| Adjustments | 98 | 102 | 73 | 59 | 79 | -19% | 580 | 138 | -76% |
| CFBIT adjusted | 299 | 504 | 592 | 437 | 333 | +11% | 485 | 770 | +59% |
| Cash conversion rate adjusted* | 0.7 | 2.7 | 2.0 | 0.9 | 0.8 | . | 0.7 | 0.9 | . |
| * Ratio of CFBIT adjusted to EBIT adjusted. |
&"MB Corpo S Text Office Light,Standard"&10 27
SNVeryHiddenParameterSheet
28 - MBM Overview
| Mercedes-Benz Mobility - Overview | |||||||||
| Q2 | Q3 | Q4 | Q1 | Q2 | Q2 : Q2 | Q1 - Q2 | Q1 - Q2 | YTD : YTD | |
| (in millions of EUR) | 2021 | 2021 | 2021 | 2022 | 2022 | Change | 2021 | 2022 | Change |
| New business | 17,191 | 14,633 | 15,043 | 14,540 | 14,115 | -18% | 33,955 | 28,655 | -16% |
| Contract volume (at period end) | 150,596 | 148,091 | 133,687 | 134,404 | 134,986 | -10% | 133,687* | 134,986 | +1% |
| North America** | 47,895 | 47,386 | 38,346 | 38,234 | 39,779 | -17% | 38,346* | 39,779 | +4% |
| Germany | 24,703 | 24,446 | 24,698 | 24,787 | 24,645 | -0% | 24,698* | 24,645 | -0% |
| China | 19,213 | 18,846 | 19,045 | 20,293 | 20,706 | +8% | 19,045* | 20,706 | +9% |
| Rest of World | 58,785 | 57,413 | 51,598 | 51,090 | 49,856 | -15% | 51,598* | 49,856 | -3% |
| Revenue | 6,874 | 6,855 | 7,246 | 6,782 | 6,715 | -2% | 13,840 | 13,497 | -2% |
| EBIT | 924 | 943 | 882 | 733 | 624 | -32% | 1,668 | 1,357 | -19% |
| EBIT adjusted | 930 | 943 | 885 | 733 | 624 | -33% | 1,621 | 1,357 | -16% |
| Return on equity (%) | 23.9% | 23.3% | 21.6% | 20.2% | 17.1% | . | 22.1% | 18.6% | . |
| Return on equity adjusted (%) | 24.0% | 23.3% | 21.7% | 20.2% | 17.1% | . | 21.4% | 18.6% | . |
| * Year-end figure. | |||||||||
| ** USA and Canada. |
&"MB Corpo S Text Office Light,Standard"&10 28
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Mercedes-Benz Group AG published this content on 26 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 July 2022 08:11:08 UTC.
