Mercedes-Benz to Hand Around $6 Billion to Shareholders After Revenue, Profit Jumped
February 17 2023 - 1:17AM
Dow Jones News
By Mauro Orru
Mercedes-Benz Group AG is planning to distribute 5.6 billion
euros ($5.98 billion) to shareholders after revenue and net profit
surged in the fourth quarter and the whole of 2022, though the
company warned that sales should be flat this year as supply snags
remain.
The German luxury-car maker on Friday posted quarterly revenue
of EUR41.00 billion, up from EUR35.24 billion the previous
year.
Quarterly net profit jumped 63% to EUR4.03 billion, bringing
profit for the year to EUR14.81 billion, up 34%.
Earnings before interest and taxes--a key profitability
metric--rose to EUR5.41 billion in the quarter from EUR4.12
billion.
Analysts polled by FactSet had forecast quarterly revenue of
EUR38.44 billion on profit of EUR3.73 billion and EBIT of EUR5.14
billion.
The company said it would propose a dividend of EUR5.20 a share
for 2022, or EUR5.6 billion in total, topping the EUR5.00 a share
it paid for the previous year.
Mercedes-Benz said the global shortage of semiconductors was
easing, though supply constraints remained.
For 2023, Mercedes-Benz expects revenue at the 2022 level, and
EBIT slightly below it.
Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94
(END) Dow Jones Newswires
February 17, 2023 02:02 ET (07:02 GMT)
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