Performance: Q3 adjusted Return on Sales (RoS) reaches 12.4% (Q3 2022: 14.5%) at Mercedes-Benz Cars and 15.0% at Mercedes-Benz Vans (Q3 2022: 12.7%); adjusted Return on Equity (RoE) of 10.4% at Mercedes-Benz Mobility (Q3 2022: 15.8%)

Sales: Mercedes-Benz Cars sales reach 1,529,800 units in the January to September period (+2%) despite a supplier shortage constraining GLC and E-Class; Mercedes-Benz Vans sales at 323,500 units in the first nine months (+11%)

Electrification: Hybrid and electric cars accounted for 20% of overall sales in Q3; Mercedes-Benz Passenger Car battery electric vehicle (BEV) sales up 97% in the January to September period; electric van sales rose by 46% in the first nine months; product momentum to continue in 2024 with electric G-Class

Transformation: Concept CLA Class showcased the MMA's platform's outstanding EV efficiency; first Mercedes-Benz charging hub opened in Chengdu (China); Real-life crash test underscores highest safety standards of Mercedes-Benz electric vehicles

Outlook unchanged: Mercedes-Benz Group revenue in 2023 seen at prior-year level and Group EBIT expected at prior-year level; Free cash flow of the industrial business seen slightly above prior-year level. Mercedes-Benz Cars adjusted Return on Sales (RoS) expected at 12% - 14%; Mercedes-Benz Vans adjusted Return on Sales seen at 13% - 15% and Mercedes-Benz Mobility adjusted Return on Equity seen at 12% - 14%

Mercedes-Benz Group AG (ticker symbol: MBG) achieved solid third-quarter results in a subdued market environment marked by intense price competition, particularly in the electric vehicle segment. Earnings Before Interest and Taxes (EBIT) reached EUR4.8 billion (Q3 2022: EUR5.2 billion) as improved net pricing at Mercedes-Benz Cars and a rise in sales of premium vans helped to partially offset higher inflation, currency effects and supply-chain related costs. Revenue fell 1.4% to EUR37.2 billion (Q3 2022: EUR37.7 billion) in part because passenger car sales were around 5% lower in the quarter, due to a supplier-induced shortage of 48-volt systems.

Mercedes-Benz continues to pursue its strategy of profitable growth. Thanks to strong sales of Mercedes-Maybach and G-Class vehicles in the Top-End and good pricing overall, the adjusted Return on Sales (RoS) at Mercedes-Benz Cars reached 12.4% (Q3 2022: 14.5%). With an adjusted RoS of 15.0% (Q3 2022: 12.7%), Mercedes-Benz Vans once again benefited from solid demand and a favourable model mix.

'The team at Mercedes-Benz delivered solid results despite a challenging environment. We continue to demonstrate resilience thanks to desirable products and a disciplined go-to-market approach. While we remain vigilant regarding the macroeconomic outlook, we confirm our full-year financial targets for 2023.'

Harald Wilhelm, Chief Financial Officer of Mercedes-Benz Group AG

Transformation

At the IAA in Munich, Mercedes-Benz showcased how it will redefine the segment with its Concept CLA Class, an electric car with efficiency of around 12kWh/100km, giving it a range of more than 750 kilometers (WLTP)1. To accelerate the shift to electric mobility Mercedes-Benz is building its own global charging network. It opened its first charging hub a few days ago in Chengdu (China). Atlanta (USA) and Mannheim (Germany) will follow in a few weeks. To further demonstrate the outstanding safety of its electric cars, Mercedes-Benz conducted the first live, frontal-offset crash test involving two electric vehicles. The passenger safety cell of both electric models remained intact and the doors could still be opened. In an emergency, this would make it possible for occupants to exit the vehicle on their own or for first responders and rescue personnel to reach them. The high-voltage system in the EQA and the EQS SUV switched off automatically during the collision.

See full release at: https://media.mercedes-benz.com/article/3ac78001-d741-41d8-a3d7-a1fc254ff492

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