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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| MercedesBenz Group AG | TG:MBG | Tradegate | Ordinary Share |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| -0.29 | -0.43% | 67.79 | 67.77 | 67.78 | 68.90 | 67.68 | 68.72 | 111,299 | 13:23:19 |
From May 2023 to May 2024
By David Sachs
Mercedes-Benz Group shares fell Thursday after the car maker reported a drop in third-quarter profit due to lower demand and currency effects, and warned that headwinds would continue for the rest of the year.
At 0726 GMT, shares in Mercedes-Benz were down 5.8% at EUR57.82.
The luxury-car company flagged high supply-chain costs, inflation and currency-exchange rates for the performance. On a post-earnings call, Chief Financial Officer Harald Wilhelm said he expects headwinds to continue into the fourth quarter.
Net profit in the third quarter fell to 3.72 billion euros ($3.93 billion), a 7% drop from the same period last year, the company said. Revenue fell 1.4% to EUR37.20 billion. Return on sales for the cars business was 12.4%, down from 14.5% a year ago.
Car sales fell 3.7% though van sales rose 1.1%.
Write to David Sachs at david.sachs@wsj.com
(END) Dow Jones Newswires
October 26, 2023 03:56 ET (07:56 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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