Mercedes lost a lot of sporting time in 2022, but its war fund has increased significantly in a financially successful campaign.
Mercedes-Benz Grand Prix Ltd made £474. 6 million in overall profit in 2022, up around 24% to 2021.
More than a portion of the team’s profits (51%) came from sponsorships and licenses, while 30% came from Formula 1’s accolades fund and 19% came from other income, adding its Applied Sciences division.
Mercedes has noticed a significant increase in earnings from its accolade fund year on year, not only as constructors’ champion in 2021, but also thanks to F1 returning to a general operating point compared to last year, when the lingering effects of Covid continued to affect Grand Prix racing activities.
The Brackley-based team posted an operating profit of £113. 6 million, an impressive 58% increase (£41. 6 million) to 2021.
The team’s net profit after tax for the year is £89. 7 million, around £20. 9 million up from £68. 8 million in 2021.
Despite all the problems, headaches and difficult conditions he endured in Mercedes’ complicated 2022 campaign, Toto Wolff got a big payoff for his efforts when the team distributed a £75 million dividend similarly among its trio of shareholders, namely Wolff, Mercedes AG and Ineos.
As for Ineos’ sponsorship of Mercedes, given that the company is also a shareholder, Mercedes had to disclose Ineos’ annual sponsorship, which amounted to £42 million in 2022.
In 2022, Mercedes F1 stood at 1,114, an increase of more than a hundred compared to last year.
Of this increase, only another 24 people were assigned to design, engineering and manufacturing roles, remaining within the position limit, while the expansion of the remaining workforce took place in the administrative area, as more were needed to manage the team’s load limit operations.
Mercedes’ annual accounts reveal that the team has acquired all of its facilities in Brackley, a position in which it has resided since its inception as British American Racing in 1999.
This is evidenced by a remarkable accumulation of £30 million in tangible assets recorded on the books.
Wolff said the acquisition “will result in a safer, more physically powerful and more self-sustaining style of business for the future, and will enable significant investments in zero-carbon services as the campus develops. “
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