Q2 2024 Mercedes-Benz Group AG Earnings Call for Analysts and Investors Transcript
Key Points
- Mercedes-Benz Group AG (MBGAF) reported robust sales figures and solid financial results despite a challenging macroeconomic environment.
- The company successfully launched new products, including the electric G-Class and upgraded EQS flagship limousine.
- Mercedes-Benz Group AG (MBGAF) achieved double-digit profitability for cars and exceptionally strong performance in the vans segment.
- The company opened a new eCampus in Stuttgart for powertrain development, showcasing its commitment to innovation.
- Mercedes-Benz Group AG (MBGAF) returned EUR8.6 billion to shareholders through dividends and share buybacks, demonstrating strong shareholder returns.
- The mobility division faced challenges due to a tough market environment, impacting overall performance.
- The company experienced a slowdown in BEV sales in 2024 compared to previous years, indicating market challenges.
- Mercedes-Benz Group AG (MBGAF) held higher inventory levels at the end of Q2, which could pose risks if sales do not meet expectations in the second half of the year.
- The Chinese market showed subdued consumer sentiment, affecting sales and pricing stability, particularly in the luxury segment.
- The company faces ongoing pressure from increased competition and price sensitivity in the Chinese market, impacting overall profitability.
Welcome to the global conference call of Mercedes-Benz. At our customers' request, this conference will be recorded. The replay of the conference call will also be available as an on-demand audio webcast in the Investor Relations section of the Mercedes-Benz website. This short introduction will be directly followed by a Q&A session.
(Operator Instructions) I would like to remind you that this telephone conference is governed by the safe harbor wording that you'll find in our published results documents. Please note that our presentations contain forward-looking statements that reflect management's current views with respect to future events.
Such statements are subject to many risks and uncertainties. If the assumptions underlying any of these statements prove incorrect, then actual results may be materially different from those expressed or implied by such statements. Forward-looking statements speak only to the date on which they are made.
May I now hand over to Steffen Hoffmann, Head of Mercedes-Benz Investor Relations and Treasury. Thank you very much.
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