The passenger car division of German luxury automaker Mercedes-Benz reported a 40.5% drop in annual profit and said it expects significantly lower profits for the group in 2025.
Group earnings before interest and taxes (EBIT) fell to €13.6 billion in 2024, while sales declined by %4.5% to €146 billion.
The group, which lowered its expectations twice last year, forecasts that 2025 sales will be slightly below the previous year's level and that the automobile division's adjusted return on sales will be only %6-8, down from %8.1 in 2024.
For 2023, the dividend payment of 5.30 euros per share will be reduced to 4.30 euros for 2024