Mercedes-Benz reports 2023 free cash flow above expectations in industrial business

Reuters

Published Feb 01, 2024 03:30PM ET

(Reuters) - Mercedes-Benz (OTC:MBGAF) reported a preliminary free cash flow for its industrial business of 11.3 billion euros ($12.28 billion) on Thursday, above market expectations, which it attributed to lower working capital levels and a favourable cash conversion rate.