The extensive withdrawal from Russia cost the Mercedes group 709 million euros in the first quarter.

The Stuttgart group announced this on Wednesday as part of its quarterly figures.

According to Mercedes, it has suspended the export of cars and spare parts to Russia and stopped production in Russia.

However, the group continues to pay its approximately 1,000 employees at the Moscow plant.

The company continues to hold a 15 percent stake in the Russian armored car manufacturer Kamaz.

According to information from Daimler Truck, the group's truck business, which has been independent for several months, this proportion cannot currently be moved.

Mercedes actually wanted to transfer its stake in Daimler Truck, but had not completed the transaction before the start of the war.

Gustave parts

Business correspondent in Stuttgart.

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Otherwise, the withdrawal from Russia is hardly noticeable, the company continues to do well.

Mercedes was less dependent than other automakers on suppliers from Ukraine, such as making wiring harnesses for cars.

Mercedes is "in close contact with suppliers who operate in Ukraine to secure the supply chains," the statement said.

For this, production was relocated to other locations within the supplier network.

In some plants, shift schedules have been adjusted due to the delivery difficulties.

Sales decrease, turnover increases

Customers want to buy many more cars with the star anyway than Mercedes can produce due to the lack of semiconductors.

With 487,000 cars, Mercedes sold a tenth less than from January to March 2021. Nevertheless, the group achieved an adjusted operating profit of 5.3 billion euros, almost a fifth more than a year ago and thus before the semiconductor crisis really hit the industry.

Compared to the first three months of the previous year, sales increased by 6 percent to almost 35 billion euros.

The values ​​refer to the comparable figures of the business with cars and vans of the former Daimler group.

The truck business was spun off at the end of last year.

"In this demanding environment, resilience and price enforcement are particularly important," CFO Harald Wilhelm is quoted as saying.

In view of the shortages, Mercedes mainly produces and sells luxury models, on which the group earns a high margin.

The demand for it remains strong, according to the statement.

Of the top-end vehicles, which include Maybach, AMG, G-Class, S-Class and electric S-Class EQS, Mercedes sold 78,000 cars, up 5 percent year-on-year.

The car division's return on sales rose by a good one and a half percentage points to 16.4 percent, exceeding market expectations.

For the year as a whole, the car division wants to generate a return at the upper end of the range of 11.5 to 13.0 percent.

The group as a whole expects sales slightly above last year and pre-tax profit at the record level of 2021.

However, the geopolitical framework led to greater uncertainty.

The consequences of the Ukraine war are "unpredictable," the statement said.

"An escalation beyond the current status could have significant negative consequences for the business activities of Mercedes-Benz."