Mercedes-Benz Group Raises Annual Guidance On Strong Demand

Luxury car brand Mercedes-Benz Group (OTC:DMLRY) has raised its fiscal year 2022 guidance, citing higher demand.
For the Group, revenue is now seen significantly above the 2021 level, up from a previously expected slightly above level. EBIT is now seen slightly above the prior-year level rather than at the prior-year level.
In Mercedes-Benz Cars, the company continues to expect a slight sales increase and top-end vehicle sales growth of more than 10% year on year.
The company's guidance for adjusted return-on-sales (RoS) for Mercedes-Benz Cars for FY22 is 12% - 14%, rather than the 11.5% - 13% seen earlier.
For Mercedes-Benz Vans, FY22 sales are expected to remain slightly above the 2021 level, and the adjusted RoS to remain at 8% - 10%.
The auto major's revenue for Q2 rose 7% Y/Y to €36.4 billion. Adjusted earnings before interest and tax (EBIT) increased 8% to €4.9 billion.
"We are enhancing our vigilance and resilience to manage increasingly complex macroeconomic and geopolitical challenges. At the same time, we have good reasons to remain confident, with ongoing strong demand, a fresh vehicle portfolio and further key product launches this year," said Ola Källenius, Chairman of the Board of Management.
Price Action: DMLRY shares closed lower by 2.97% at $13.71 on Tuesday.
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