The shares of German automotive giant Mercedes-Benz (MBG.DE) are currently leading the gains among companies listed on German stock exchange. The reason for the nearly 2.5 per cent rise is the announcement of the company's willingness to buy back its own shares for a total of nearly €4 billion. The program itself will start in March 2023 and last for two years.
Investors are also reacting to the publication of Q4 2022 results, which came out mixed, despite a number of positive surprises. The company's full-year net profit was up 34% and sales revenue was up 12% in the face of strong demand for Mercedes' most expensive models and electric cars. The brand's most expensive passenger cars and vans are characterized by generating the highest margins among the entire available Mercedes-Benz fleet, the company added. In total, the company will sell 2 million cars in 2022, up 5% year-on-year.
Source: Mercedes-Benz
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Open real account TRY DEMO Download mobile app Download mobile appNevertheless, investor sentiment was dampened somewhat by a warning about business conditions and their possible impact on the company in the future. The start of 2023 saw a decline in new car order momentum. The level of revenue generated in 2023 is expected to be stable, however EBIT is expected to decline slightly.
Source: Mercedes-Benz
Mercedes-Benz share price chart. MN interval. The company's shares are heading towards their highest levels ever. Source: xStation 5
