- New Group structure established: First Annual Meeting of
Mercedes-Benz Group AG
- Performance raised: Successful 2021 and strong Q1, 2022 results
despite volatile environment
- EV strategy accelerated: Portfolio to include more than 10
fully electric vehicles in 2022
- Milestone achieved: Vision EQXX sets benchmark with >1,000
kilometres range
- Supervisory Board expertise broadened: Candidates specialised
in ESG and luxury proposed
- Dividend increased: Dividend of €5.00 proposed, €4.30 new
reference point for dividend payments
At its first Annual Meeting under a new corporate structure as
Mercedes-Benz Group AG (stock exchange code: MBG), the brand with
the three-pointed star reasserted its claim to leadership in the
automotive luxury segment. In addition to accelerating
electrification and digitalization, the company’s transformation
continues with a relentless focus on improving financial
robustness.
Strong results in the financial year 2021 and a successful start
to 2022 affirm the company’s strategic path, even in a volatile
environment. “Last year Mercedes-Benz made good progress: We were
able to sell not only more electric vehicles, but also more top
models: And this, despite the ongoing pandemic and the supply
bottlenecks for semiconductors. Thus, we have come a step closer to
our goal of becoming fully electric and offering the most desirable
vehicles,” Bernd Pischetsrieder, Chairman of the Supervisory
Board of Mercedes-Benz Group AG said on Friday at the virtual
Annual Meeting.
Successful 2021
Focusing on electric vehicles and growing the top-end segment at
Mercedes-Benz has paid off. Four figures illustrate this
transformation: Group sales of the top-end models increased by 30%,
sales of electric passenger cars increased by 64%, sales of
electric Vans 118% and adjusted EBIT of the Mercedes-Benz Group
grew by 123%. In addition, business resilience was further
enhanced. Despite the ongoing pandemic and supply bottlenecks, the
financial year 2021 at Mercedes-Benz Cars, Mercedes-Benz Vans and
Mercedes-Benz Mobility was successful.
The Chairman of the Board of Management of Mercedes-Benz
Group AG, Ola Källenius, said: “At Mercedes-Benz, we redoubled
our efforts to implement our strategy and succeeded in translating
this into fascinating products and financial success. I want to
extend my gratitude to our colleagues for this achievement. Last
year was a challenge, but our team rose to the occasion. We
developed momentum and we still have plenty of potential. For
Mercedes-Benz, the journey has just begun.”
Mercedes-Benz Group
FY 2021
FY 2020
Change 21/20
Revenue1
167,971
154,309
+9%
EBIT1
29,069
6,603
+340%
EBIT adjusted1
19,230
8,641
+123%
Net profit/loss1
23,3962
4,009
+484%
Net liquidity (industrial business,
December, 31) 1
21,005
17,855
+18%
Free cash flow (industrial business) 1,
4
8,606
8,259
+4%
Free cash flow (industrial business)
adjusted1, 5
10,882
9,155
+19%
Earnings per share (EPS) in €
21.503
3.39
+534%
1in € millions
2 Excluding the result from the
deconsolidation of the Daimler commercial vehicle business, net
profit amounted to €14,180 million.
3 Excluding the result from the
deconsolidation of the Daimler commercial vehicle business, EPS
amounted to €12.89.
4 Including former Daimler Trucks &
Buses division.
5 Including former Daimler Trucks &
Buses division. The free cash flow of the former Daimler Trucks
& Buses division for 2021 amounted to €726 million until the
spin-off and hive down went into effect on 9 December 2021.
The Board of Management and the Supervisory Board propose a
dividend of €5.00 for the financial year 2021 (2020: €1.35) per
share. Around €0.70 of the dividend is attributable to Daimler
Trucks & Buses, as Daimler Truck Holding AG will not pay a
separate dividend to shareholders for 2021. A dividend of €4.30 is
the future reference value for the Mercedes-Benz Group. The total
payout for 2021 is therefore €5.35 bn. (2020: €1.4 bn.).
Looking ahead for 2022
This year the company expects to make further progress toward
its long-term strategic goal of CO2 neutrality. With the EQS SUV,
EQE SUV, EQT and eCitan models more than 10 fully electric vehicles
will have been presented by the end of 2022. Moreover, with the
Ambition2039, Mercedes-Benz Cars has set itself the target of
reaching an important milestone as early as 2030 on the road to CO2
neutrality: to halve CO2 emissions compared with 2020 levels. Here,
the most important levers are electrifying the vehicle fleet,
charging with green power, improving battery technology and by
extensively using recycled materials and renewable energy in
production sites. Potential CO2 emissions are also evaluated as a
criterion when contracts are awarded to potential suppliers.
Mercedes-Benz plans to cover more than 70% of its energy
requirements in production with renewable energy sources by 2030.
The company aims to reach this goal by expanding solar and wind
power at its own sites and by means of additional power purchase
agreements. As part of its holistic approach to sustainability,
Mercedes-Benz is also building a battery recycling plant in
Kuppenheim, Germany.
“Mercedes-Benz is going fully electric step by step, and its
software capability is growing ever stronger. We are expanding our
luxury business and continuing to work on our cost efficiency. We
are compelled to do this, not least in view of rising raw material
prices. In Europe, we need an active raw material strategy because
access to raw materials is crucial for electric and digital
transformation, and for the competitiveness of the European economy
as a whole,” said Ola Källenius, Chairman of the Board of
Management of Mercedes-Benz Group AG.
Elections to the Supervisory Board
Bader M. Al Saad and Dr. Clemens B�rsig will leave
the Supervisory Board at the end of the Annual Meeting. Dame
Polly Courtice, the former Director of the University of
Cambridge Institute for Sustainability Leadership and Marco
Gobbetti, CEO of Salvatore Ferragamo S.p.A., have been proposed
for election. Thanks to their experience and perspectives in
Environmental Social and Governance (ESG) matters and in the luxury
goods industry, competence in strategic core areas will be further
broadened on the Supervisory Board. According to Bernd
Pischetsrieder, Chairman of the Supervisory Board: “The
strategic realignment of Mercedes-Benz is based on the conviction
that sustainability forms the basis for a successful luxury
strategy. Mercedes-Benz is striving for a leading position in both
areas. With their wealth of experience and broad knowledge, Dame
Polly Courtice and Marco Gobbetti are ideally placed to support us
in this endeavor.”
Since the Extraordinary General Meeting on October 1st 2021,
there has been a further change: Dr. Sabine Zimmer stepped down
from the Supervisory Board as the Employee Representative as of
December 8th 2021. Her successor as Employee Representative is
Monika Tielsch, Member of the Works Council at the Mercedes-Benz
Sindelfingen plant, as of December 9th 2021.
Link to the current annual report:
group.mercedes-benz.com/Results-2021
Forward-looking statements:
This document contains forward-looking statements that reflect
our current views about future events. The words “anticipate,”
“assume,” “believe,” “estimate,” “expect,” “intend,” “may,” ”can,”
“could,” “plan,” “project,” “should” and similar expressions are
used to identify forward-looking statements. These statements are
subject to many risks and uncertainties, including an adverse
development of global economic conditions, in particular a decline
of demand in our most important markets; a deterioration of our
refinancing possibilities on the credit and financial markets;
events of force majeure including natural disasters, pandemics,
acts of terrorism, political unrest, armed conflicts, industrial
accidents and their effects on our sales, purchasing, production or
financial services activities; changes in currency exchange rates,
customs and foreign trade provisions; a shift in consumer
preferences towards smaller, lower-margin vehicles; a possible lack
of acceptance of our products or services which limits our ability
to achieve prices and adequately utilize our production capacities;
price increases for fuel or raw materials; disruption of production
due to shortages of materials, labour strikes or supplier
insolvencies; a decline in resale prices of used vehicles; the
effective implementation of cost-reduction and
efficiency-optimization measures; the business outlook for
companies in which we hold a significant equity interest; the
successful implementation of strategic cooperations and joint
ventures; changes in laws, regulations and government policies,
particularly those relating to vehicle emissions, fuel economy and
safety; the resolution of pending governmental investigations or of
investigations requested by governments and the outcome of pending
or threatened future legal proceedings; and other risks and
uncertainties, some of which are described under the heading “Risk
and Opportunity Report” in the current Annual Report or in the
current Interim Report. If any of these risks and uncertainties
materializes or if the assumptions underlying any of our
forward-looking statements prove to be incorrect, the actual
results may be materially different from those we express or imply
by such statements. We do not intend or assume any obligation to
update these forward-looking statements since they are based solely
on the circumstances at the date of publication.
Mercedes-Benz Group at a glance
Mercedes-Benz Group AG is one of the world's most successful
automotive companies. With Mercedes-Benz AG, the Group is one of
the leading global suppliers of premium and luxury cars and vans.
Mercedes-Benz Mobility AG offers financing, leasing, car
subscription and car rental, fleet management, digital services for
charging and payment, insurance brokerage, as well as innovative
mobility services. The company founders, Gottlieb Daimler and Carl
Benz, made history by inventing the automobile in 1886. As a
pioneer of automotive engineering, Mercedes-Benz sees shaping the
future of mobility in a safe and sustainable way as both a
motivation and obligation. The company's focus therefore remains on
innovative and green technologies as well as on safe and superior
vehicles that both captivate and inspire. Mercedes-Benz continues
to invest systematically in the development of efficient
powertrains and sets the course for an all-electric future: The
brand with the three-pointed star pursues the goal to go
all-electric, where market conditions allow. Shifting from
electric-first to electric-only, the world’s pre-eminent luxury car
company is accelerating toward an emissions-free and
software-driven future. The company's efforts are also focused on
the intelligent connectivity of its vehicles, autonomous driving
and new mobility concepts as Mercedes-Benz regards it as its
aspiration and obligation to live up to its responsibility to
society and the environment. Mercedes-Benz sells its vehicles and
services in nearly every country of the world and has production
facilities in Europe, North and Latin America, Asia and Africa. In
addition to Mercedes-Benz, the world's most valuable luxury
automotive brand (source: Interbrand study, 20 Oct. 2021),
Mercedes-AMG, Mercedes-Maybach, Mercedes-EQ and Mercedes me as well
as the brands of Mercedes-Benz Mobility: Mercedes-Benz Bank,
Mercedes-Benz Financial Services and Athlon. The company is listed
on the Frankfurt and Stuttgart stock exchanges (ticker symbol MBG).
In 2021, the Group had a workforce of around 172,000 and sold 2.3
million vehicles. Group revenues amounted to €168.0 billion and
Group EBIT to €29.1 billion.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220428006027/en/
Tobias Just, +49 160 868 7568, tobias.just@mercedes-benz.com
Edward Taylor, +49 176 30 94 1776, edward.taylor@mercedes-benz.com
Andrea Berg, +1 917 667 2391, andrea.a.berg@mercedes-benz.com Han
Tjan, +1 212 909 9063, han.tjan@mercedes-benz.com
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