- Financial Performance:
- Revenue: €145.6 billion
- EBIT: €13.6 billion
- Free Cash Flow: €9.2 billion
- Unit Sales: 2.389 million vehicles, down 4% from 2023.
- Market Dynamics: Faced challenges from geopolitical tensions, slow electromobility adoption, and subdued Asian consumer demand.
- Product Launch Strategy: Plans for the largest product launch in history with four new models starting in 2025, including an expanded electric portfolio.
- Focus on Sustainability: Commitment to net carbon neutrality by 2039 and increased emphasis on recycling, renewable energy, and automated driving technologies.
- Management Initiatives: Changes in the Board of Management, customer experience enhancement, and ongoing cost reduction strategies to sustain competitiveness.
- Financial Overview: Mercedes-Benz Group’s tax expense decreased to €3.7 billion (2023: €5.6 billion), with an effective tax rate of 26.4% (2023: 27.6%). Net profit dropped to €10.4 billion (2023: €14.5 billion), with earnings per share falling to €10.19 (2023: €13.46).
- Segment Performance: Significant EBIT declines were noted across segments: Cars fell to €8.46 billion (2023: €14.22 billion); Vans to €2.93 billion (2023: €3.14 billion); and Mobility to €1.13 billion (2023: €1.30 billion). Value added decreased sharply to €4.27 billion (2023: €8.84 billion).
- Cash Flow: Free cash flow of the industrial business was €9.15 billion, down from €11.32 billion in 2023. A decline in adjusted free cash flow to €9.42 billion (2023: €11.72 billion) highlights investment pressures.
- Market Outlook for 2025: The group anticipates a slight decrease in overall revenue and EBIT for 2025 against a challenging economic backdrop, projecting further increases in investments in property and digital technology. A dividend of €4.30 per share is proposed, down from €5.30.
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Summary of Annual Report 2024
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