Source: Caijing NetworkAuthor: An An2022-04-28 16:25
Mercedes-Benz reported positive year-on-year revenue growth in the first quarter.
According to Gasgoo, on April 27, Mercedes-Benz Group AG announced its financial results for the first quarter of 2022. Despite the challenges of the new crown epidemic and bottlenecks in the semiconductor supply chain, the group’s revenue and profit in the first quarter achieved year-on-year growth.
Revenue performance overview
According to official data released by Mercedes-Benz Group, the group’s revenue in the first quarter was 34.86 billion euros, an increase of 6% year-on-year; EBIT was 5.23 billion euros, an increase of 11% year-on-year; adjusted EBIT Profit was 5.3 billion euros, up 19% year-on-year; net profit was 3.59 billion euros, up 3% year-on-year; free cash flow was 1.22 billion euros.
(Source: Caijing.com Auto Photo: An An)
In the automotive business, Mercedes-Benzās revenue in the first quarter of this year was 25.836 billion euros, an increase of 8% year-on-year; EBIT was 4.271 billion euros, an increase of 13% year-on-year; adjusted EBIT was 4.243 billion euros , an increase of 21% year-on-year; adjusted return on sales was 16.4%, compared with 14.7% in the same period last year; cash flow before interest and taxes (CFBIT) was 1.847 billion euros, compared with 2.268 billion euros in the same period last year; adjusted CFBIT was 1.68 billion euros , compared to 2.947 billion euros in the same period last year; the adjusted cash conversion ratio (CCR) was 0.4 compared to 0.8 in the same period last year.
First-quarter sales at Mercedes-Benz’s automotive division fell 10 percent year-on-year to 487,008 units. Among them, the sales of luxury vehicles in this segment were 78,000 units, a year-on-year increase of 5%, accounting for 16% of the total sales; the sales of hybrid and electric models reached 74,000 units, a year-on-year increase of 19%.
For vans, Mercedes-Benz sold nearly flat in the first quarter compared to last year, but its North American sales hit an all-time high. In the first quarter, the segment’s revenue was 3.687 billion euros, an increase of 9% year-on-year; adjusted EBIT was 466 million euros, an increase of 42% year-on-year; adjusted return on sales increased from 9.7% in the same period last year to 12.6% .
In terms of mobility business, Mercedes-Benz’s revenue in the first quarter was 6.782 billion euros, a year-on-year decrease of 3%; adjusted EBIT was 733 million euros, a year-on-year increase of 6%.
Automotive segment business
In early April, Mercedes-Benzās sales data for the first quarter of 2022 showed that from January to March, Mercedes-Benz delivered a total of 501,600 vehicles worldwide, a year-on-year decrease of 15%. Mercedes-Benz said it was mainly affected by semiconductor supply shortages and epidemic restrictions. .
Data show that in the first quarter, the sales of Mercedes-AMG, Mercedes-Maybach, G-Class, S-Class, GLS and EQS reached 76,200 units, a year-on-year increase of 1%, of which Mercedes-Maybach created The best quarterly sales in history.
In terms of new energy, under the leadership of EQA, EQS and EQC, the sales volume of Mercedes-Benz xEV (pure electric and plug-in hybrid models) reached 67,800 units, a year-on-year increase of 37%, accounting for 30% of the total new car sales. 15%; among them, the sales volume of pure electric models was 21,900 units, a year-on-year increase of 210%. In Europe, Mercedes-Benz xEV deliveries account for 33% of total sales; in the UK, one in five new cars sold is a pure electric model.
(Source: Mercedes-Benz official website)
It is worth mentioning that the top-selling model of Mercedes-Benz is the “GLC”, which sold more than 100,000 units in the first quarter. After passing winter testing, the all-new GLC will make its world debut in June.
Affected by factors such as the new crown pneumonia epidemic and global supply chain shortages, Mercedes-Benz delivered more than 192,000 new cars in the domestic market in the first quarter. Mercedes-Benz said that in the face of various uncertainties, Mercedes-Benz has always worked with its dealer partners to meet customers’ car purchase needs as much as possible under the premise of rigorous implementation of epidemic prevention and control measures.
In terms of models, Mercedes-Benz’s best-selling models GLC SUV and GLE SUV achieved positive growth; high-end model families represented by Mercedes-Maybach, Mercedes-AMG, G-Class, etc. The S-Class, the flagship product, continued to lead the market segment; the sales of new energy products also continued to grow due to the continuous enrichment of model choices. The sales of the new EQS have steadily climbed since its delivery in January, and Mercedes-Benz has Electric hybrid products also hit record sales.
Annual Expectation Planning
According to the previously announced official plan, in 2022, Mercedes-Benz will transform into “full electric” with intelligent acceleration, and will successively launch 8 new energy products to the Chinese market, including the new EQS SUV and the first domestically produced new energy product based on the EVA platform. EQE, pure electric products such as Mercedes-AMG EQS 53 4MATIC+, the first Mercedes-AMG electric model, and plug-in hybrid products from C-Class, S-Class and other models.
Pure electric vehicles accounted for just 2.3 percent of Mercedes-Benz’s sales last year, while plug-in hybrids rose to 11 percent. Mercedes-Benz expects that by 2025, pure electric and hybrid vehicles will account for as much as 50% of sales, with pure electric vehicles accounting for the majority.
(Source: Mercedes-Benz official website)
On February 22 this year, according to Gasgoo, Mercedes-Benz production chief Joerg Burzer said in an interview that Mercedes-Benz expects that some production lines in its factories will be completely transformed into electric vehicle production lines in the next few years, and will be in the period from 2025 to 2030. Has a factory dedicated to the production of electric vehicles.
In terms of performance revenue, Mercedes-Benz Group expects 2022 revenue to be slightly higher than 2021, EBIT is expected to be flat with 2021, and free cash flow is expected to be slightly lower than the 2021 benchmark.
Mercedes-Benz Automotive segment sales are expected to grow slightly, with luxury vehicle sales expected to increase by more than 10% year-on-year; adjusted return on sales is expected to be between 11.5% and 13%, with return on sales in the the high value of this range. Raw materials and other inflation risks are expected to persist into the second half of the year, with the segment continuing to offset possible risks through net pricing.
Harald Wilhelm, Chief Financial Officer of Mercedes-Benz Group, said, “In this challenging environment, maintaining business resilience and pricing power is critical. With our focus on luxury and electric vehicles and ongoing cost control, here On top of that, we will continue to transform our business by expanding our luxury vehicle business, expanding EV production and accelerating software development.”