Mercedes-Benz Group (MBG GY) Q1 (EUR): Adj. EBIT 3.60bln (exp. 3.71bln). Sales 35.87bln (exp. 35.58bln). Cars Adj. EBIT 2.32bln (2.57bln); Outlook maintained

Performance: Q1 adjusted Return on Sales (RoS) reached 9.0% (Q1 2023: 14.8%) at Mercedes-Benz Cars and 16.3% at Mercedes-Benz Vans (Q1 2023: 15.6%); Mercedes-Benz Mobility adjusted Return on Equity (RoE) at 8.5% (Q1 2023: 15.6%).
New products: World premieres for the electric G-Class1 and all new G-Class; EQS model upgrades; AMG GT Coupes and E-Class AMG models unveiled.
Share buyback update: By the third quarter 2024 buybacks are expected to reach a total of EUR 4bln and to reach the targeted EUR 7bln in Q1 2025 before the Annual General Meeting.
Outlook unchanged: Mercedes-Benz Group revenue in 2024 seen remaining at the prior-year level; Group EBIT and Free Cash Flow from the Industrial Business expected slightly below prior-year level; Mercedes-Benz Cars adjusted Return on Sales (RoS) expected at 10% - 12%; Mercedes-Benz Vans adjusted Return on Sales seen at 12% - 14% and Mercedes-Benz Mobility adjusted Return on Equity seen at 10% - 12%.