Mercedes-benz Group Ag · XETR:MBG
Mercedes-benz — Q2 2025 Earnings Presentation
25 slides from Mercedes-benz's earnings presentation, Jul 30, 2025
Slide 1: Capital Market Presentation Q2 2025
CAPITAL MARKET PRESENTATION Q2 2025 — MERCEDES-BENZ — MERCEDES-BENZ GROUP AG Stuttgart, July 30, 2025
Slide 2: Mercedes-Benz Group: Key Messages Q2 2025
MERCEDES-BENZ GROUP: KEY MESSAGES Q2 2025 — CAPITAL MARKET PRESENTATION Q2 2025 — Performance: Underlying performance on track, yet results impacted by tariffs. Cash flow generation continued. — MERCEDES-BENZ — Products: Premiere of CLA Shooting Brake, start of production & deliveries of CLA in July
Slide 3: Mercedes-Benz Group: Key Figures
MERCEDES-BENZ GROUP: KEY FIGURES — CAPITAL MARKET PRESENTATION Q2 2025 — Revenue EBIT Earnings per share Free Cash Flow (IB) Net Industrial Liquidity in billion euros in billion euros in euros in billion euros in billion euros — MERCEDES-BENZ — +14% -2% -10% -68% -68% 36.7 4.0 2.95 1.9 31.4 30.8 -50
Slide 4: Cars: Top-End and Electric Vehicle Unit Sales
MERCEDES-BENZ CARS: TOP-END AND ELECTRIC VEHICLE UNIT SALES In thousand units -9% 497 454 -8% +4% Top-End 70 65 70* 94 90 — MERCEDES-BENZ — 65* 9 5 13 G 35 BEV** 5 Maybach Core 290 46 274 35 34 AMG 59 PHEV 33 44 S, EQS, Entry** 136 115 25 GLS, EQS SUV Q2 2024 Q2 2025 Q2 2024 Q2 2025 Q2 2024 Q2 2025
Slide 5: Vans: Electric Vehicle Unit Sales
MERCEDES-BENZ VANS: ELECTRIC VEHICLE UNIT SALES In thousand units -10% +32% 103 7 93 — MERCEDES-BENZ — 5 BEV thereof Q2 2024 Q2 2025 Q2 2024 Q2 2025 Total MB Vans Electric vehicles Share in % of volume 5% 7%
Slide 6: Cars: Financials
MERCEDES-BENZ CARS: FINANCIALS Sales Revenue EBIT adj. CFBIT adj. in thousand units in billion euros in billion euros in billion euros — CAPITAL MARKET PRESENTATION Q2 2025 — -9% -11% -56% 497 27.2 2.8 — MERCEDES-BENZ — 454 24.2 -36% 2.2 1.4 1.2 70.9* -5% 67.7* Q2 2024 Q2 2025 Q2 2024 Q2 2025 Q2 202
Slide 7: Cars: EBIT & RoS
MERCEDES-BENZ CARS: EBIT & ROS In million euros Gross Profit -1,899 — CAPITAL MARKET PRESENTATION Q2 2025 — 2,756 7 2,763 Operational efficiencies in purchasing and manufacturing — MERCEDES-BENZ — Lower SG&A and RD costs – Lower China/BBAC contribution – Lower unit sales and softer net pricing –
Slide 8: Cars: EBIT to CFBIT
MERCEDES-BENZ CARS: EBIT TO CFBIT In million euros — CAPITAL MARKET PRESENTATION Q2 2025 — 76 1,408 917 1,332 — MERCEDES-BENZ — 783 CCR: CCR: 1.7 1.1 -164 -49 1,529 t/o • Inventories -176 • Trade receivables +498 t/o • Trade payables -486 • Dividend BBAC +477 • Legal proceedings +21 • Result at-Equi
Slide 9: Vans: Financials
MERCEDES-BENZ VANS: FINANCIALS Sales Revenue EBIT adj. CFBIT adj. in thousand units in billion euros in million euros in million euros — CAPITAL MARKET PRESENTATION Q2 2025 — -10% -11% -47% -64% 103 4.8 834 624 — MERCEDES-BENZ — 93 4.2 441 227 Q2 2024 Q2 2025 Q2 2024 Q2 2025 Q2 2024 Q2 2025 Q2 2024
Slide 10: Vans: EBIT & RoS
MERCEDES-BENZ VANS: EBIT & ROS In In million million euros euros Gross Profit -305 — CAPITAL MARKET PRESENTATION Q2 2025 — 830 4 834 — MERCEDES-BENZ — 32 -297 -12 -40 -4 -17 441 RoS: RoS: 17.4% 17.5% -55 274 Lower product related expenses RoS: -167 Healthy mix supported by improved product subst
Slide 11: Vans: EBIT to CFBIT
MERCEDES-BENZ VANS: EBIT TO CFBIT In million euros — CAPITAL MARKET PRESENTATION Q2 2025 — 274 — MERCEDES-BENZ — 104 28 227 236 199 CCR: CCR: -150 0.7 0.5 111 t/o • Inventories -143 • Trade receivables -129 t/o • Legal proceedings +23 • Trade payables +122 • Dividend FBAC +60 • Restructuring +5 -376
Slide 12: Mobility: Financials
MERCEDES-BENZ MOBILITY: FINANCIALS New Business Contract Volume EBIT adj. in billion euros in billion euros in million euros — CAPITAL MARKET PRESENTATION Q2 2025 — -2% +7% -4% 14.1 133.7 290 — MERCEDES-BENZ — 13.8 128.8 271 Q2 2024 Q2 2025 03/31/2025 06/30/2025 Q2 2024 Q2 2025
Slide 13: Mobility: EBIT & RoE
MERCEDES-BENZ MOBILITY: EBIT & ROE In million euros — CAPITAL MARKET PRESENTATION Q2 2025 — 26 290 271 0 271 25 247 -10 22 -43 — MERCEDES-BENZ — -40 -4 RoE: RoE: RoE: 8.9% RoE: 8.4% 8.4% 7.6% Ongoing efficiency measures leading to further cost improvements Positive effects from at-equity investm
Slide 14: Group: EBIT
MERCEDES-BENZ GROUP: EBIT In million euros — CAPITAL MARKET PRESENTATION Q2 2025 — 4,037 12 4,049 — MERCEDES-BENZ — -1,535 19 1,988 -393 -152 1,273 -715 • Restructuring -560 t/o • Legal proceedings +12 • M&A transactions -153 • At-equity Daimler Truck -80 • Legal proceedings -2 EBIT EBIT EBIT Merced
Slide 15: Reconciliation from CFBIT to Free Cash Flow
MERCEDES -BENZ GROUP: In million euros RECONCILIATION FROM CFBIT TO FREE CASH FLOW — CAPITAL MARKET PRESENTATION Q2 2025 — 111 1,976 344 1,865 — MERCEDES-BENZ — 199 327 13 1,332 -350 • Legal proceedings +44 • Restructuring +67 Other Free cash flow Free cash flow Mercedes-Benz Mercedes-Benz Income ta
Slide 16: Net Industrial Liquidity
MERCEDES -BENZ GROUP: In billion euros NET INDUSTRIAL LIQUIDITY — CAPITAL MARKET PRESENTATION Q2 2025 — 1.6 2.6 — MERCEDES-BENZ — 33.3 -0.4 -1.9 0.0 30.8 Free cash flow industrial business -4.1 -0.3 Q2 2025: € 1.9 billion Additions to Net Industrial Earnings and Depreciation and Investments in Net I
Slide 17: Outlook 2025
— MERCEDES-BENZ — Outlook 2025
Slide 18: Divisional Guidance 2025
MERCEDES-BENZ DIVISIONAL GUIDANCE 2025 ASSUMPTION The assumptions regarding the overall economic conditions and the development of the automotive markets continue to be characterized by exceptionally high levels of uncertainty. In addition to unexpected macroeconomic and geopolitical developments, t
Slide 19: Group Guidance 2025
MERCEDES-BENZ GROUP GUIDANCE 2025 ASSUMPTION The assumptions regarding the overall economic conditions and the development of the automotive markets continue to be characterized by exceptionally high levels of uncertainty. In addition to unexpected — CAPITAL MARKET PRESENTATION Q2 2025 — macroeconom
Slide 20: The Next Highlight of Our Biggest-Ever Product Launch Program
THE NEXT HIGHLIGHT OF OUR BIGGEST -EVER PRODUCT LAUNCH PROGRAM IS JUST AROUND THE CORNER — MERCEDES-BENZ — IAA MOBILITY 2025
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Slide 22: Mobility: Net Credit Losses
MERCEDES-BENZ MOBILITY: NET CREDIT LOSSES* — CAPITAL MARKET PRESENTATION Q2 2025 — 0.89% 0.83% — MERCEDES-BENZ — 0.43% 0.37% 0.42% 0.34% 0.33% 0.40% 0.31% 0.31% 0.26% 0.26% 0.24% 0.21% 0.21% 0.29% 0.20% 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 YTD 2025 * As per
Slide 23: Group/Divisional Guidance Ranges
MERCEDES-BENZ GROUP/ DIVISIONAL GUIDANCE RANGES* Specification/ Significantly Slightly below At prior-year Slightly above Significantly KPI below level above — MERCEDES-BENZ — Revenue/ X < -7.5% -7.5% ≤ X < -2% -2% ≤ X ≤ +2% +2% < X ≤ +7.5% X > +7.5% Unit Sales EBIT (Group) X < -15% -15% ≤ X <-5% -5
Slide 24: Contacts – Investor Relations
CONTACTS – INVESTOR RELATIONS Visit our Investor Relations Website: Click here — MERCEDES-BENZ — Alexander Jasperneite Analysts, Creditor and Equity Relations Email: alexander.jasperneite@mercedes-benz.com Stephanie Dumke Capital Market Communication ESG Email: stephanie.dumke@mercedes-benz.com Erwi
Slide 25: Disclaimer
DISCLAIMER This document contains forward-looking statements that reflect our current views about future events. The words “anticipate”, “assume”, “believe”, “estimate”, “expect”, “intend”, “may”, “can”, “could”, “plan”, “project”, “should” and similar expressions are used to identify forward- looki