The group shows revenue growth of 2.4% to just above €35bn but all profit numbers have headed south. EBIT fell by 26% to €2.15bn and net earnings after minorities by 31% to €1.35bn. Cash from operations, based on management’s definition, fell by 35% to €1.22bn. Management blames falling sales of S- and E-class vehicles for the profit slump, but all these numbers are clearly short of our expectations.
22 Apr 2016
Q1 profits have collapsed
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Q1 profits have collapsed
Mercedes-Benz Group AG (MBG:WBO) | 0 0 0.5% | Mkt Cap: 77,349m
- Published:
22 Apr 2016 -
Author:
Hans-Peter Wodniok -
Pages:
2
The group shows revenue growth of 2.4% to just above €35bn but all profit numbers have headed south. EBIT fell by 26% to €2.15bn and net earnings after minorities by 31% to €1.35bn. Cash from operations, based on management’s definition, fell by 35% to €1.22bn. Management blames falling sales of S- and E-class vehicles for the profit slump, but all these numbers are clearly short of our expectations.