Mercedes-Benz reported third-quarter net profit of €1.518 billion on October 28, up from €1.190 billion a year earlier. Revenue fell 4.5% to €30.698 billion.
Reported earnings before interest and taxes more than doubled to €1.773 billion. The company said that increase mainly reflected fewer adjustments than in the previous year. Adjusted group EBIT fell 15% to €1.78 billion.
The cars business reported adjusted EBIT of €560 million, down from €1.139 billion, and a 2.5% adjusted return on sales. Mercedes-Benz said competition in China and currency movements weighed on results, while car sales increased in Europe and the United States.
Battery-electric car deliveries rose 60.5% to 68,428 vehicles. Total car deliveries declined 7.8% to 407,232.
Financial Services adjusted EBIT increased 42.2% to €445 million. Vans generated adjusted EBIT of €397 million, down 3.6%, with a 9.4% adjusted return on sales.
Industrial free cash flow fell to €172 million from €1.367 billion.
Source: Mercedes-Benz Group, October 28 results release, distributed unaltered by Public Technologies.