FRANKFURT (Reuters) – The car manufacturer Mercedes-Benz has polished its balance sheet to a high gloss due to the exceptional situation of the global shortage of semiconductors.
The first annual accounts after the separation from the truck division brought a net profit of 23.4 billion euros, almost six times as much as in the previous year. Adjusted for revaluations in the course of the spin-off of the now independent truck division, the consolidated profit amounted to 14.2 billion euros, as the Dax group announced on Thursday. Sales increased by nine percent to 168 billion euros. A dividend of EUR 5.00 per share is to be paid out after EUR 1.35 in the previous year.
The return on cars and vans adjusted for special items soared to a record high of 12.7 percent after 6.9 percent in the previous year. The lack of computer chips caused vehicle production to falter last year, so that an artificially tight supply met high demand. Like other manufacturers, Mercedes also preferred high-priced, profitable models to roll off the assembly line and was able to squeeze the usual discounts.