Mercedes-Benz Group (formerly Daimler AG before the trucks unit spin-off) has posted 2021 net profit (excluding the deconsolidation result) up to €14.2 billion (2020: €4.0 billion). Earnings per share, excluding the deconsolidation result, rose by 280% to €12.89 (2020: €3.39).

It was a strong set of results, helped by fixed cost reductions and favourable model mix. Since 2019 fixed costs at Mercedes-Benz Cars have fallen by 16% while revenue per unit improved by 26% to an average €49,800 per vehicle.

Mercedes-Benz Group revenue reached €168 billion (2020: €154.3 billion). The share from continuing operations was €133.9 billion (2020: €121.8 billion). Group EBIT was €29.1 billion (2020: €6.6 billion), thereof the share from continuing operations was €16.0 billion (2020: €6.1 billion). Adjusted EBIT, reflecting the underlying business, was €19.2 billion (2020: €8.6 billion). Group net profit was €23.4 billion (2020: €4.0 billion). The share from continuing operations was €11.1 billion (2020: €4.0 billion).

CEO Ola Källenius said: “2021 was a year of strategic progress for Mercedes-Benz. Three numbers illustrate how this transformation is gaining traction: Top-end vehicle sales rose by 30%, sales of electric cars surged 64%, and our adjusted EBIT increased by 105%. That’s a strong demonstration of the potential of this brand and this team. I want to extend my deepest gratitude to all our colleagues who made this excellent result possible.”

He added: “With a clear agenda for this year we are confident about 2022. Aside from the relentless focus on cost efficiency and supply chain management, our strategic priorities are: Scaling electric vehicles, accelerating our car-software plans and growing our luxury business.”

Unit volume was down in 2021. Sales at the Mercedes-Benz Cars & Vans division decreased by 5% to 2,330,169 vehicles (2020: 2,461,884). Mercedes-Benz passenger car unit sales decreased to 2,054,962 (2020: 2,164,187), mainly due to the global supply constraints of semiconductors. However, the top-end vehicles, which include Mercedes‑Maybach, Mercedes-AMG, G-Class, S-Class, GLS and EQS, posted a new sales record in 2021 – underscoring the positive mix effect on Mercedes’ bottom line.

Mercedes-Maybach sales in China have risen to more than 1,000 vehicles a month since June last year, with the exception of last October, when supplies were constrained.