Mercedes-benz Group Ag · XETR:MBG
Mercedes-benz — Q1 2026 Earnings Presentation
27 slides from Mercedes-benz's earnings presentation, 2026
Slide 1: Fact Sheet for Q1 2026
Fact Sheet for Q1 2026 Mercedes-Benz Group
Slide 2: Contents
Fact Sheet Q1 2026 | Mercedes-Benz Group 2 Contents 3 MERCEDES-BENZ GROUP 19 INFORMATION FOR DIVISIONS 3 Stock Market Information 19 MBC Overview 4 Key Figures of the Mercedes-Benz Group 20 MBC Sales by Region 5 Revenue by Segment 21 MBC Sales by Segment 6 Revenue by Region 22 MBC Reconciliation fro
Slide 3: Stock Market Information
Fact Sheet Q1 2026 | Mercedes-Benz Group 3 Back to Contents Stock Market Information Q1 : Q1 YTD : YTD Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Change % Q1 2025 Q1 2026 Change % Earnings per share (basic = diluted, in EUR) 1.74 0.95 1.22 1.43 1.49 -14.4 1.74 1.49 -14.4 Average number of shares outsta
Slide 4: Key Figures of the Mercedes-Benz Group
Fact Sheet Q1 2026 | Mercedes-Benz Group 4 Back to Contents Key Figures of the Mercedes-Benz Group Q1 : Q1 YTD : YTD Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Change % Q1 2025 Q1 2026 Change % (in millions of EUR) Revenue 33,224 33,153 32,147 33,690 31,602 -4.9 33,224 31,602 -4.9 EBIT 2,289 1,273 750
Slide 5: Revenue by Segment
Fact Sheet Q1 2026 | Mercedes-Benz Group 5 Back to Contents Revenue by Segment Q1 : Q1 YTD : YTD Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Change % Q1 2025 Q1 2026 Change % (in millions of EUR) Mercedes-Benz Cars 24,238 24,162 23,742 24,265 22,958 -5.3 24,238 22,958 -5.3 Mercedes-Benz Vans 4,080 4,237
Slide 6: Revenue by Region
Fact Sheet Q1 2026 | Mercedes-Benz Group 6 Back to Contents Revenue by Region Q1 : Q1 YTD : YTD Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Change % Q1 2025 Q1 2026 Change % (in millions of EUR) Mercedes-Benz Group 33,224 33,153 32,147 33,690 31,602 -4.9 33,224 31,602 -4.9 Europe1 14,190 14,512 14,217 1
Slide 7: EBIT of the Mercedes-Benz Group
Fact Sheet Q1 2026 | Mercedes-Benz Group 7 Back to Contents Earnings before Interest and Taxes (EBIT) of the Mercedes-Benz Group Q1 : Q1 YTD : YTD Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Change % Q1 2025 Q1 2026 Change % (in millions of EUR) Revenue 33,224 33,153 32,147 33,690 31,602 -4.9 33,224 31,
Slide 8: EBIT of Mercedes-Benz Cars
Fact Sheet Q1 2026 | Mercedes-Benz Group 8 Back to Contents Earnings before Interest and Taxes (EBIT) of Mercedes-Benz Cars Q1 : Q1 YTD : YTD Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Change % Q1 2025 Q1 2026 Change % (in millions of EUR) Revenue 24,238 24,162 23,742 24,265 22,958 -5.3 24,238 22,958 -
Slide 9: EBIT of Mercedes-Benz Vans
Fact Sheet Q1 2026 | Mercedes-Benz Group 9 Back to Contents Earnings before Interest and Taxes (EBIT) of Mercedes-Benz Vans Q1 : Q1 YTD : YTD Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Change % Q1 2025 Q1 2026 Change % (in millions of EUR) Revenue 4,080 4,237 4,044 4,787 4,124 +1.1 4,080 4,124 +1.1 Cos
Slide 10: EBIT of Mercedes-Benz Financial Services
Fact Sheet Q1 2026 | Mercedes-Benz Group 10 Back to Contents Earnings before Interest and Taxes (EBIT) of Mercedes-Benz Financial Services Q1 : Q1 YTD : YTD Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Change % Q1 2025 Q1 2026 Change % (in millions of EUR) Revenue 6,422 6,248 5,805 6,150 6,105 -4.9 6,422
Slide 11: EBIT and Return on Sales/Return on Equity
Fact Sheet Q1 2026 | Mercedes-Benz Group 11 Back to Contents EBIT and Return on Sales (RoS)/Return on Equity (RoE) Q1 : Q1 YTD : YTD Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Change % Q1 2025 Q1 2026 Change % (EBIT in millions of EUR, RoS/RoE in %) Mercedes-Benz Cars EBIT 1,758 783 430 593 809 -54.0 1
Slide 12: Adjustments affecting EBIT
Fact Sheet Q1 2026 | Mercedes-Benz Group 12 Back to Contents Adjustments affecting EBIT Q1 : Q1 YTD : YTD Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Change % Q1 2025 Q1 2026 Change % (in millions of EUR) Mercedes-Benz Cars Legal proceedings and related measures 6 1 4 -9 2 -66.7 6 2 -66.7 Restructuring
Slide 13: EBIT Adjusted and RoS/RoE Adjusted
Fact Sheet Q1 2026 | Mercedes-Benz Group 13 Back to Contents EBIT Adjusted and RoS/RoE Adjusted Q1 : Q1 YTD : YTD Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Change % Q1 2025 Q1 2026 Change % (EBIT in millions of EUR, RoS/RoE in %) Mercedes-Benz Cars EBIT adjusted 1,768 1,228 1,139 638 933 -47.2 1,768 9
Slide 14: Free Cash Flow and Net Liquidity of the Industrial Business
Fact Sheet Q1 2026 | Mercedes-Benz Group 14 Back to Contents Free Cash Flow and Net Liquidity of the Industrial Business Q1 : Q1 YTD : YTD Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Change % Q1 2025 Q1 2026 Change % (in millions of EUR) Net liquidity at the beginning of the period1 31,417 33,333 30,790
Slide 15: Liquidity
Fact Sheet Q1 2026 | Mercedes-Benz Group 15 Back to Contents Liquidity1 Q1 : Q1 YTD : YTD Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Change % Q4 2025 Q1 2026 Change % (at period end, in millions of EUR) Group liquidity Cash and cash equivalents 11,752 13,939 13,666 12,276 12,230 +4.1 12,276 12,230 -0.4
Slide 16: Reconciliation from CFBIT to Free Cash Flow of the Industrial Business
Fact Sheet Q1 2026 | Mercedes-Benz Group 16 Back to Contents Reconciliation from CFBIT1 to Free Cash Flow of the Industrial Business Q1 : Q1 YTD : YTD Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Change % Q1 2025 Q1 2026 Change % (in millions of EUR) CFBIT of Mercedes-Benz Cars 2,789 1,332 1,356 -250 2,6
Slide 17: Adjustments affecting Free Cash Flow of the Industrial Business
Fact Sheet Q1 2026 | Mercedes-Benz Group 17 Back to Contents Adjustments affecting Free Cash Flow of the Industrial Business Q1 : Q1 YTD : YTD Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Change % Q1 2025 Q1 2026 Change % (in millions of EUR) Mercedes-Benz Cars Legal proceedings and related measures 23 2
Slide 18: Pension and Health-Care Benefits
Fact Sheet Q1 2026 | Mercedes-Benz Group 18 Back to Contents Pension and Health-Care Benefits Q1 : Q1 Q3 : Q4 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Change % Q4 2025 Q1 2026 Change % (at period end, in millions of EUR) Pension benefits Benefit obligations 20,536 20,546 20,563 20,188 19,678 -4.2 20,
Slide 19: Mercedes-Benz Cars - Overview
Fact Sheet Q1 2026 | Mercedes-Benz Group 19 Back to Contents Mercedes-Benz Cars - Overview Q1 : Q1 YTD : YTD Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Change % Q1 2025 Q1 2026 Change % Unit sales (units) 446,300 453,674 441,453 459,864 419,430 -6.0 446,300 419,430 -6.0 Share of xEV in unit sales (%) 1
Slide 20: Mercedes-Benz Cars - Units Sales by Region
Fact Sheet Q1 2026 | Mercedes-Benz Group 20 Back to Contents Mercedes-Benz Cars - Units Sales by Region Q1 : Q1 YTD : YTD Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Change % Q1 2025 Q1 2026 Change % (in units) Group sales 446,300 453,674 441,453 459,864 419,430 -6.0 446,300 419,430 -6.0 Europe1 148,666
Slide 21: Mercedes-Benz Cars - Unit Sales by Product Categories and Share of Electrified Models
Fact Sheet Q1 2026 | Mercedes-Benz Group 21 Back to Contents Mercedes-Benz Cars - Unit Sales by Product Categories and Share of Electrified Models Q1 : Q1 YTD : YTD Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Change % Q1 2025 Q1 2026 Change % (in units) Group sales1 446,300 453,674 441,453 459,864 419,4
Slide 22: Mercedes-Benz Cars - Reconciliation from EBIT to CFBIT
Fact Sheet Q1 2026 | Mercedes-Benz Group 22 Back to Contents Mercedes-Benz Cars - Reconciliation from EBIT to CFBIT Q1 : Q1 YTD : YTD Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Change % Q1 2025 Q1 2026 Change % (in millions of EUR) EBIT 1,758 783 430 593 809 -54.0 1,758 809 -54.0 Change in working capi
Slide 23: Mercedes-Benz Vans - Overview
Fact Sheet Q1 2026 | Mercedes-Benz Group 23 Back to Contents Mercedes-Benz Vans - Overview Q1 : Q1 YTD : YTD Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Change % Q1 2025 Q1 2026 Change % Unit sales (units) 82,943 93,393 83,843 98,957 80,256 -3.2 82,943 80,256 -3.2 Share of xEV in unit sales (%) 5.7 7.4
Slide 24: Mercedes-Benz Vans - Units Sales by Region
Fact Sheet Q1 2026 | Mercedes-Benz Group 24 Back to Contents Mercedes-Benz Vans - Units Sales by Region Q1 : Q1 YTD : YTD Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Change % Q1 2025 Q1 2026 Change % (in units) Group sales1 82,943 93,393 83,843 98,957 80,256 -3.2 82,943 80,256 -3.2 Europe2 57,354 64,953
Slide 25: Mercedes-Benz Vans - Unit Sales by Segment
Fact Sheet Q1 2026 | Mercedes-Benz Group 25 Back to Contents Mercedes-Benz Vans - Unit Sales by Segment Q1 : Q1 YTD : YTD Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Change % Q1 2025 Q1 2026 Change % (in units) Group sales1 82,943 93,393 83,843 98,957 80,256 -3.2 82,943 80,256 -3.2 Commercial Vans 67,53
Slide 26: Mercedes-Benz Vans - Reconciliation from EBIT to CFBIT
Fact Sheet Q1 2026 | Mercedes-Benz Group 26 Back to Contents Mercedes-Benz Vans - Reconciliation from EBIT to CFBIT Q1 : Q1 YTD : YTD Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Change % Q1 2025 Q1 2026 Change % (in millions of EUR) EBIT 229 274 358 448 392 +71.2 229 392 +71.2 Change in working capital
Slide 27: Mercedes-Benz Financial Services - Overview
Fact Sheet Q1 2026 | Mercedes-Benz Group 27 Back to Contents Mercedes-Benz Financial Services - Overview Q1 : Q1 YTD : YTD Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Change % Q1 2025 Q1 2026 Change % (in millions of EUR) New business 13,622 13,805 13,727 14,762 13,050 -4.2 13,622 13,050 -4.2 Contract v