German automotive giant Mercedes-Benz Group AG, previously Daimler AG, reported Thursday that its fourth-quarter net profit surged to 12.75 billion euros from last year’s 3.59 billion euros.
Earnings per share were 11.82 euros, up 263 percent from 3.26 euros last year.
EBIT adjusted increased 2 percent to 5.23 billion euros.
Revenue, meanwhile, declined 7 percent to 43.39 billion euros from 46.62 billion euros a year ago.
Sales at the Mercedes-Benz Cars & Vans division decreased 20 percent, mainly due to the global supply constraints of semiconductors.
At Mercedes-Benz Vans, in line with the strategy to focus on EV’s, battery electric vehicle sales more than doubled.
Further, at the Annual General Meeting on April 29, the Boards will propose a dividend of 5.00 euros per share, up from 1.35 euros last year.
Looking ahead for fiscal 2022, Mercedes-Benz Group anticipates revenue slightly above the previous year’s figure from continued operations, which is without the Daimler Trucks & Buses business.
Based on the expectation of a slight increase in revenue in 2022, the company anticipates that EBIT from continued operations will be at the prior-year level.
Mercedes-Benz expects that supply constraints related to semiconductors will continue to impact the market. Visibility on semiconductor supply is improving and capacity is gradually increasing, but there is a high level of volatility and selective bottlenecks remain.
The company expects the situation to stabilize in 2022 compared to last year.
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