Mercedes-Benz cuts 2026 cars adjusted return on sales forecast to 2%-3% from 3%-5%

• Mercedes-Benz cut its 2026 group EBIT outlook to prior-year levels from significantly above.
• The adjusted operating margin forecast for cars fell to 2%-3% from 3%-5%.
• Industrial free cash flow is now expected significantly below the prior-year level, versus slightly below previously.
• The adjusted cash conversion ratio forecast for cars rose to 1.2-1.4 from 1.0-1.2.
• Third-quarter industrial free cash flow fell 87% to EUR 0.2 billion, reflecting working capital headwinds.

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