Today $MBG (+0,58 %) presented its quarterly figures today, showing a mixed but slightly better picture than expected.
- Turnover (expected): EUR 31.6 bn
- Turnover (reported): EUR 31.6 bn
- EPS (expected): EUR 1.32
- EPS (reported): EUR 1.49
In operational terms, however, the picture is more varied. EBIT amounted to around EUR 1.9 billion, which corresponds to a year-on-year decline of around 17%, but was less pronounced than the market had feared.
Weak sales in China, rising costs and geopolitical factors such as customs duties and higher raw material prices had a particularly negative impact. At the same time, Europe remains more stable and the USA has recently improved again.
The highlights of the quarter therefore lie less in growth and more in stability. $MBG (+0,58 %) Despite the difficult conditions, the company was able to generate solid cash flows and is sticking to its strategic realignment. This includes a clear focus on profitability, cost discipline and a broad model offensive with numerous new vehicles in the coming years.
The company's transformation is therefore clearly visible, but is still in the middle of the process. $MBG (+0,58 %) is currently in a transitional phase, particularly in the important Chinese business, where competition from local manufacturers is increasing significantly. At the same time, massive investments are being made in new models and technologies, which will put pressure on margins in the short term, but should ensure competitiveness in the long term.
For me, the decisive factors in the coming quarters will be whether margins in the core business stabilize again and whether demand picks up again, particularly in China. Equally important for me will be the development of the cost structure and the success of the new model offensive. In my opinion, geopolitical factors such as customs duties and commodity prices should also be monitored closely, as they have a direct impact on profitability.
~ No investment advice ~
