German luxury car manufacturer Mercedes-Benz and Italian high-end clothing manufacturer Moncler have both reported strong financial results for the year 2021.
Despite noting a 5% drop in sales during 2021, partly due to supply chain shortages, Mercedes-Benz CFO Harald Wilhem said the carmaker was still expanding its semiconductor source base.
Moreover, this did not stop Mercedes-Benz from achieving strong results in 2021. The firm’s turnover reached 167.971 billion euros, an increase of 9% compared to 2020. The company doubled its adjusted annual earnings before interest and taxes (EBIT) to 13.9 billion euros from 6.8 billion euros in 2020. This was achieved in particular thanks to revenues from sales of premium vehicles and electric cars. They increased by 30% and 64% respectively.
“2021 was a year of strategic progress for Mercedes-Benz“, commented Ola Källenius, Chairman of the Management Board of the Mercedes-Benz Group.
In addition, he also commented on his forecasts for 2022: Ola Källenius expects sales of premium vehicles to increase by 10% this year, as he prioritises the delivery of his more expensive models over maximising unit sales. All this has been done with a view to consolidating Mercedes-Benz’s image as a luxury company.
Finally, the company will propose a dividend of 5 euros per share for the year 2022, a significant jump from last year’s 1.35 euros.
A successful 2021 for Moncler
In a completely different field, the company specialising in the sale of high-end ski clothing, Moncler, has also shown strong financial results for the period 2021.
The company achieved a turnover for the year 2021 of 2.05 billion euros, thanks in particular to the acquisition of the Stone Island brand last April. These good results were also reflected in a 44% increase in sales of luxury clothing for the year as a whole. Stone Island contributed 66 million euros in sales to Moncler’s financial year.
The brand was thus able to significantly exceed its pre-pandemic results thanks in particular to the strength of the American and Chinese markets, surpassing analysts’ forecasts for Moncler’s 2021 financial year.
Moncler’s earnings before interest and taxes (EBIT) amounted to 603 million euros in 2021 and net profit to 411 million euros, against analysts’ expectations of 573 million euros and 386 million euros, respectively.
Finally, Moncler is rather confident about 2022, despite doubts due to geopolitical uncertainties; and adds that it hopes to benefit from the opportunities arising from the celebration of Moncler’s 70th anniversary and Stone Island’s 40th.
“The beginning of 2022 has been marked by considerable uncertainty, especially on the geopolitical front… but also with important indicators that give me confidence for the future,” said managing director Remo Ruffini in a statement.
Read also > ASTON MARTIN’S SALES TO RISE SHARPLY IN 2021
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