German automobile maker Mercedes-Benz Group on Thursday reported that its fourth-quarter profit attributable to shareholders fell 21.7% to €3.12 billion ($3.4 billion) from last year's €3.98 billion.
Earnings per share were €2.99, down 19.7% from prior year's €3.72.
EBIT of €4.33 billion declined 20.1% from the prior year.Revenue fell 1.8% to €40.26 billion from last year's €41 billion, with a 3.2% drop in Mercedes-Benz Cars unit.
Mercedes-Benz Vans revenue grew 9.7% and Mercedes-Benz Mobility revenues grew 2.2%.
Further, the company said its board of management and the supervisory board, at the annual general meeting on May 8, will propose a dividend of €5.30 per share, higher than last year's €5.20.
Looking ahead for fiscal 2024, Mercedes-Benz Group expects Group revenue to remain at the prior-year level. Group EBIT is expected to be slightly below the previous year's level in a market environment that remains challenging.
