Mercedes-Benz Group (MBG) Investor presentation summary

Group financial performance FY 2024

• Revenue reached €145.6 billion, down 4% year-over-year, with EBIT at €13.6 billion, a 31% decrease from the previous year.

• Free cash flow from industrial business was €9.2 billion, down 19%, while net industrial liquidity increased slightly to €31.4 billion.

• Dividend payout totaled €5.5 billion and share buybacks amounted to €7 billion.

• Group Return on Sales (RoS) dropped to 10.3% from 14.5% in 2023.

• Earnings per share declined 24% to €10.19.

Divisional performance FY 2024

• Mercedes-Benz Cars saw sales fall 3% to 1,983k units, with adjusted EBIT down 39% and RoS at 8.1%.

• Vans division sales dropped 9% to 406k units, but maintained high profitability with RoS at 14.6%.

• Mobility division's new business volume declined 4%, with adjusted EBIT down 33% and ROE at 8.7%.

• Top-end and electric vehicle sales both declined, with BEV share at 19% for cars and 5% for vans.

Outlook FY 2025

• Revenue and unit sales are expected to be slightly below 2024 levels, with EBIT and free cash flow significantly below.

• Cars and vans RoS guidance is 8–10% and 10–12% respectively, with XEV share targets of 20–22% for cars and 8–10% for vans.

• Investment and R&D spending to remain high in 2025, then decline by over 10% mid-term.

• Macroeconomic and geopolitical risks remain elevated, with supply chain and trade tensions highlighted.