Mercedes-Benz Group 2023 results*: Cash generation at work


• Cash generation: Strong Free Cash Flow of the Industrial Business up 39% at €11.3 billion (2022: €8.1 billion) and Net Industrial Liquidity up 19% at €31.7 billion (2022: €26.6 billion) 
• Full year performance: Group revenue increased by 2% to €153.2 billion (2022: €150.0 billion) and Group EBIT amounted to €19.7 billion (2022: €20.5 billion) 
• Profitability: Mercedes-Benz Cars adjusted Return on Sales (RoS) reaches 12.6% (2022: 14.6%), 15.1% for Mercedes-Benz Vans (2022: 11.2%), and an adjusted Return on Equity (RoE) of 12.3% for Mercedes-Benz Mobility (2022: 16.8%) 
• Sales 2023: Mercedes-Benz Cars and Vans sales increased 1.5% to 2,491,800 vehicles; BEV sales rose +61% to 240,700 units (2022: 149,200); eVans sales +51% to 22,700 units (2022: 15,000) 
• Dividend: Dividend of €5.30 per share proposed (2022: €5.20) 
• Share buyback: Shares worth up to €3 billion to be repurchased, new buyback policy introduced 
• Outlook 2024: Group Revenue expected at prior-year level, Group EBIT seen slightly below 2023 level, Free Cash Flow of the Industrial Business expected slightly below prior-year level, Mercedes-Benz Cars adjusted RoS seen in the range of 10% - 12%, Mercedes-Benz Vans adjusted RoS seen at 12% - 14% and Mercedes-Benz Mobility adjusted RoE at 10% - 12% 

Mercedes-Benz Group AG (ticker symbol: MBG) achieved solid 2023 financial results. A sharpened focus on desirable cars and vans combined with ongoing cost discipline resulted in Group Earnings Before Interest and Taxes (EBIT) of €19.7 billion (2022: €20.5 billion), and revenues of €153.2 billion (2022: €150.0 billion). For 2023, Mercedes-Benz Cars delivered an adjusted Return on Sales (RoS) of 12.6%, Mercedes-Benz Vans an adjusted RoS of 15.1%, and Mercedes-Benz Mobility an adjusted Return on Equity (RoE) of 12.3%, in a challenging environment marked by supply-chain constraints as well as geopolitical and macroeconomic volatility. 

”Mercedes-Benz continued its transformation in 2023, developing new cutting-edge electric and digital innovations, while scaling electric vehicles and delivering solid financial results. In other words, the team once again came through to execute our strategy in challenging times, delivering the eSprinter and the new E-Class. At the same time, we prepared the ground for next-generation products and platforms like VAN.EA and MB.OS. to keep Mercedes-Benz at the forefront of the industry.” 
Ola Kaellenius, Chief Executive Officer of Mercedes-Benz Group AG. 

*The figures in this document are preliminary and have neither been approved yet by the Supervisory Board nor audited by the external auditor.