The Mercedes Formula 1 team recorded a £13.3 million profit for the 2018 season, despite spending a huge amount of money on its F1 operations.
The team, which in 2018 won its fifth straight championship, spent £311.4m doing so, which was £1.7m more than it spent in 2017.
However thanks to an increase in income, which rose from £337.2m in 2017 to £338.4m last year, the team recorded a post-tax profit of £13.3m.
Turnover is made up of several income streams including prize money, sponsorship, merchandising and payments from parent company Daimler AG, which last year made a contribution of £64.3m to the team.
Mercedes F1 paid back £25.3m of this to Daimler AG for its engine supply, which comes from its High Performance Powertrain (HPP) department – therefore Daimler AG actually contributed just £39m.
That represents a huge return on investment in terms of marketing, with Mercedes receiving a 24 per cent share of F1's TV coverage, which represents an AER (Advertising Value Equivalent) of £3.1bn for its commercial partners.
In addition to this, the team's success in recent seasons has contributed to the Mercedes-Benz brand growing in value from $31.9bn in 2013 to $48.6bn in 2018 (as measured by Interbrand), with F1 making an important contribution to the brand's status as the eighth most valuable in the world.
More details on Mercedes F1 finances can be found in its financial statement.