Mercedes-Benz: High Profit and Fewer Jobs

Mercedes-Benz felt the impact of rising costs due to inflation and supply chain disruptions last year. Although the DAX company achieved a revenue increase of just over two percent to 153.2 billion euros, as reported by the Stuttgart-based firm on Thursday, the adjusted earnings before interest and taxes dropped by just over three percent to 20 billion euros. The group result fell by nearly two percent to 14.5 billion euros. Nevertheless, shareholders are to receive a dividend increased by ten cents to 5.30 euros per share. On the previous evening, Mercedes also announced a share buyback program worth three billion euros. The strong performance in the van segment could not offset the losses in the passenger car segment last year. In the latter, Mercedes achieved two percent higher average selling prices of 74,200 euros per vehicle and had to pay less for raw materials. However, inflation and higher supply chain costs more than offset these gains.