Mercedes-Benz has announced its financial results for the second quarter, reporting an increase in both earnings and sales. The German luxury-vehicle company saw a rise in revenue to 38.24 billion euros ($42.39 billion) in Q2, compared to EUR36.44 billion in the same period last year. Earnings before interest and taxes also rose to EUR4.99 billion, up from EUR4.62 billion the previous year.
Mercedes-Benz’s cars division recorded a return on sales of 13.5%, slightly lower than the 14.2% reported in the previous year. However, the vans business showed significant improvement with a return on sales of 15.5%, up from 10.1% last year.
In light of these results, Mercedes-Benz raised its group EBIT guidance, now expecting it to be on par with last year, as opposed to the previously forecasted slight decline. Additionally, the van business revised its adjusted return on sales forecast to a range of 13% to 15%, up from the initial estimate of 11% to 13% growth.
While the company anticipates a somewhat subdued economy in the second half of the year, with above-average inflation in certain regions affecting consumer spending, they also foresee lower energy prices and an improved supply chain situation.