High prices boost Mercedes-Benz earnings, warns of cloudy outlook
Mercedes-Benz saw a rise in earnings before interest and taxes (EBIT) to 5.2 billion euros ($5.54 billion) in the first quarter even as deliveries of passenger cars fell 10%, with high prices making up for supply chain troubles.
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(Reuters) - Mercedes-Benz saw a rise in earnings before interest and taxes (EBIT) to 5.2 billion euros ($5.54 billion) in the first quarter even as deliveries fell 10%, with high prices making up for supply chain troubles.
The premium carmaker confirmed its guidance for the year, expecting an adjusted EBIT margin of 11.5 - 13% in the cars division, but warned worsening effects of the war, COVID-19 lockdowns and semiconductor shortages could alter its outlook.
($1 = 0.9391 euros)
Reporting by Victoria Waldersee
