Mercedes-Benz Group Raises Annual Guidance On Strong Demand

  • Luxury car brand Mercedes-Benz Group DMLRY has raised its fiscal year 2022 guidance, citing higher demand.
  • For the Group, revenue is now seen significantly above the 2021 level, up from a previously expected slightly above level. EBIT is now seen slightly above the prior-year level rather than at the prior-year level.
  • In Mercedes-Benz Cars, the company continues to expect a slight sales increase and top-end vehicle sales growth of more than 10% year on year.
  • The company's guidance for adjusted return-on-sales (RoS) for Mercedes-Benz Cars for FY22 is 12% - 14%, rather than the 11.5% - 13% seen earlier. 
  • For Mercedes-Benz Vans, FY22 sales are expected to remain slightly above the 2021 level, and the adjusted RoS to remain at 8% - 10%.
  • The auto major's revenue for Q2 rose 7% Y/Y to €36.4 billion. Adjusted earnings before interest and tax (EBIT) increased 8% to €4.9 billion.
  • "We are enhancing our vigilance and resilience to manage increasingly complex macroeconomic and geopolitical challenges. At the same time, we have good reasons to remain confident, with ongoing strong demand, a fresh vehicle portfolio and further key product launches this year," said Ola Källenius, Chairman of the Board of Management.
  • Price Action: DMLRY shares closed lower by 2.97% at $13.71 on Tuesday.
  • Photo Via Company
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: EarningsNewsGuidanceBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!