Mercedes expects raw material costs to rise further this year, CFO says

BERLIN, April 29 (Reuters) - Mercedes-Benz MBGn.DE expects raw material costs to increase over the course of the year as a result of the Middle East conflict, finance chief Harald Wilhelm told analysts on Wednesday.

Headwinds were already apparent in the first quarter, Wilhelm said, after the German premium carmaker reported a 17% slump in operating profit in that period.

"And we do expect raw materials to step up further in the remainder of the year, higher than what we anticipated at the beginning of the year, also driven by the Middle East crisis and the global macro situation," he added.


This page is machine-translated. Sahm tries to improve but does not guarantee the accuracy and reliability of the translation, and will not be liable for any loss or damage caused by any inaccuracy or omission of the translation. *Disclaimer: The above content only represents the author's personal position and opinion and does not represent any position of Sahm Capital Financial Company and Sahm cannot confirm the authenticity, accuracy, and originality of the above content. Investors should consider the risks of investment products in light of their circumstances before making any investment decisions. When necessary, please consult a professional investment advisor. Sahm does not provide any investment advice, nor does it make any commitments and guarantees.