Mercedes-Benz Group AG reported on Thursday that its revenue for the full fiscal year 2024 dropped 4% year-over-year, totaling €145.6 billion. In the twelve-month period, the German carmaker saw its net profit tumble by 30.8% to €13.6 billion, while its earnings per share plunged 24% to €10.19.
In the fourth quarter alone, the company's revenue declined by 3.8% to €38.4 billion, while its net profit contracted by 26.4% to €3.2 billion. Its earnings per share slid 14.1% year-over-year, to land at €2.57 during the fourth quarter. During the trimester, Mercedes-Benz Cars sold 520,140 units, seeing a 1.1% increase compared to the year before, while Mercedes-Benz Vans' sales plummeted 15%, amounting to 105,687.
"Mercedes-Benz Group delivered solid results in a very challenging environment thanks to a range of outstanding products and strict cost discipline," CEO Ola Kaellenius commented.
