Frankfurt Automaker Mercedes-Benz boosted first-quarter profits thanks to higher prices and the sale of many highly profitable models. The consolidated result grew by twelve percent compared to the same period of the previous year to four billion euros – even more than the already announced operating result. Operating profit increased by five percent to 5.5 percent, as the Stuttgart group confirmed on Friday.
The Dax group had already reported on the operating result and returns on April 20th by mandatory notification, as the numbers were higher than expected on the stock exchange. The adjusted margins in the main business area of passenger cars were almost 15 percent, as well as in the smaller van division, at even more than 15 percent, higher than Mercedes itself had previously aimed for for the year as a whole.
After the strong start to the year, Mercedes raised the outlook for the van division – sales should now increase slightly instead of being at the previous year’s level. For the year as a whole, the Swabians are expecting two percentage points more returns, now between eleven and 13 percent.
In the passenger car business, the upper end of the previous range of twelve to 14 percent is to be achieved. The forecast at group level remains unchanged with an operating profit slightly below the 20.5 billion euros of the previous year and group sales at the previous year’s level. In the first quarter, revenues increased by eight percent to 37.5 billion euros.
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