Mercedes-Benz's Industrial Cash Flow Beats Expectations
By Nina Kienle
Mercedes-Benz Group said that last year's cash-flow from industrial operations exceeded both its guidance and market expectations, thanks to lower capital requirements and a favorable cash generation.
The German luxury carmaker said late Thursday that free-cash-flow from its industrial business for the full year amounted to 11.3 billion euros ($12.28 billion), beating consensus expectations of EUR9.9 billion.
The company had guided for an industrial free cash flow in line with the prior year level, when it came to EUR8.13 billion.
Mercedes-Benz attributed the better-than-expected cash flow to lower working capital levels and a favorable cash conversion rate in the industrial business.
Full results for 2023, along with fourth-quarter earnings figures, are expected to be published on Feb. 22, the company said.
Write to Nina Kienle at nina.kienle@wsj.com
(END) Dow Jones Newswires
February 02, 2024 01:43 ET (06:43 GMT)
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