Mercedes-Benz Group (MBG) Q2 2026 (Media) earnings summary

Executive summary

• Revenue for H1 2026 was €63.7 billion, down 4% year-over-year, mainly due to negative exchange rates and pricing effects.

• Net profit for H1 2026 was €2.5 billion, a 6% decrease compared to H1 2025.

• EBIT for H1 2026 was €3.45 billion, slightly below the prior year.

• The group continued its transformation with product launches, cost optimization, and strategic divestments.

Financial highlights

• Revenue: €63.7 billion in H1 2026 (-4% YoY); Q2 2026 revenue €32.1 billion (-3% YoY).

• Net profit: €2.5 billion in H1 2026 (-6% YoY); Q2 2026 net profit €1.09 billion (+13% YoY).

• Earnings per share: €2.63 in H1 2026 (vs. €2.69 in H1 2025).

• Free cash flow of industrial business: €3.0 billion in H1 2026 (-30% YoY).

• Net liquidity of industrial business: €30.4 billion as of June 30, 2026 (-5% vs. Dec 2025).

Outlook and guidance

• Revenue for 2026 expected slightly below prior year due to weaker Chinese market.

• Mercedes-Benz Cars unit sales forecast revised to slightly below prior year; electrified vehicles share target raised to 23-25%.

• Mercedes-Benz Financial Services adjusted return on equity forecast increased to 12-14%.

• Free cash flow of industrial business expected slightly below prior year.