Motorsport Week
  • Formula 1
    • 2025 Formula 1 Calendar
    • 2025 Formula 1 Standings
  • Formula E
    • 2025 Formula E Calendar
    • 2025 Formula E Standings
  • IndyCar
    • 2025 IndyCar Calendar
    • 2025 IndyCar Standings
  • WRC
    • 2025 WRC Standings
    • 2025 WRC Calendar
  • MotoGP
    • 2025 MotoGP Calendar
    • 2025 MotoGP Standings
    • Moto2
    • Moto3
  • WEC
    • 2025 WEC Calendar
  • IMSA
    • 2025 IMSA Calendar
  • World SBK
  • More
    • Formula 2
    • Formula 3
    • F1 Academy
    • Moto2
    • Moto3
    • World Superbikes
    • Technical Insight
    • Galleries
    • About/Contact
    • Privacy Policy
No Result
View All Result
  • Formula 1
    • 2025 Formula 1 Calendar
    • 2025 Formula 1 Standings
  • Formula E
    • 2025 Formula E Calendar
    • 2025 Formula E Standings
  • IndyCar
    • 2025 IndyCar Calendar
    • 2025 IndyCar Standings
  • WRC
    • 2025 WRC Standings
    • 2025 WRC Calendar
  • MotoGP
    • 2025 MotoGP Calendar
    • 2025 MotoGP Standings
    • Moto2
    • Moto3
  • WEC
    • 2025 WEC Calendar
  • IMSA
    • 2025 IMSA Calendar
  • World SBK
  • More
    • Formula 2
    • Formula 3
    • F1 Academy
    • Moto2
    • Moto3
    • World Superbikes
    • Technical Insight
    • Galleries
    • About/Contact
    • Privacy Policy
No Result
View All Result
Motorsport Week
Home Single Seater Formula 1

Mercedes F1 generates £89m profit despite 2022 slump

by Sam Tomlinson
2 years ago
A A
0
Mercedes F1 generates £89m profit despite 2022 slump

George Russell (GBR) Mercedes AMG F1 W13 leads Lewis Hamilton (GBR) Mercedes AMG F1. 13.11.2022. Formula 1 World Championship, Rd 21, Brazilian Grand Prix, Sao Paulo, Brazil, Race Day. - www.xpbimages.com, EMail: requests@xpbimages.com © Copyright: XPB Images

Share on FacebookShare on Twitter

Mercedes-Benz Grand Prix Limited saw a turnover of £475m and profits of £89m in 2022 despite failing to claim a Formula 1 title for the first time since 2014.

The company’s revenue jumped by 24% year-on-year to £474.5m aided by increases in F1 revenues, sponsorship deals and work carried out through its Applied Science Division.

51% of the team’s revenue was attributed to sponsorship and licensing and 30% from the F1 prize fund. Revenue also came through its Applied Science Division whose work includes development of Ineos Britannia’s America’s Cup sailboat.

Accounts submitted to the UK’s Companies House also showed that in March, Mercedes-Benz Grand Prix Limited approved a £75m dividend to shareholders including team principal Toto Wolff and the billionaire petrochemical tycoon Sir Jim Ratcliffe.

RelatedPosts

Formula 1 FIA 2026 car render

Rival F1 team boss allays Charles Leclerc fears over new 2026 car behaviour

38 minutes ago
Daniel Ricciardo is not an option on Cadillac's list

Cadillac rules out attempt to lure Daniel Ricciardo back to F1

2 hours ago

The team is equally owned by Mercedes-Benz AG, Wolff and a subsidiary of Ratcliffe’s Ineos.

As winners of the 2021 Constructors’ Championship, it is understood that prize money of about £71m is carried over into 2022’s financial report.

Mercedes also increased its average monthly workforce to 1,114 employees but was able to decrease wages by £14m annually to £82.1m last year.

(L to R): Toto Wolff (GER) Mercedes AMG F1 Shareholder and Executive Director with George Russell (GBR) Mercedes AMG F1 and Lewis Hamilton (GBR) Mercedes AMG F1. 25.08.2022. Formula 1 World Championship, Rd 14, Belgian Grand Prix, Spa Francorchamps, Belgium, Preparation Day. – www.xpbimages.com, EMail: requests@xpbimages.com © Copyright: Coates / XPB Images

Mercedes’ Group Strategic Report also noted the team’s target to recruit 25% of new starters from under-represented backgrounds, and even exceeded expectations with its Accelerate 25 initiative. 32% of new-starters are now from under-represented backgrounds while female employees rose from 14 to 16%.

Naturally, Mercedes’ cost of operations increased from £297m to £351m, reflecting increased expenditure on car development in preparation for the new era of F1 machinery, more fly-away races and inflation.

In 2022, the team also acquired ownership of the Brackley site it has occupied since 1999 with promises of upgrades to facilities by 2025.

Wolff commented that the purchase “will give a more secure, robust and autonomous business model for the future, and enable significant investment into cutting-edge, net-zero-carbon facilities as the campus is developed.”

After-tax, profits reached £89.7m, up from £68.8m in 2021, signifying how a successful team can survive in the cost-cap era of the sport.

Much like many other teams, Mercedes’ Applied Science division was set up to redeploy talent and offer services to clients.

The company is now “working with several key clients on exciting projects”, including a partnership with Ineos Britannia for the America’s Cup.

The growth of the bespoke division was described as a “positive step in the redeployment of resources enabled by the introduction of the financial regulations.”

Tags: F1Mercedes
Share200Tweet125Share

Related Posts

Formula 1 FIA 2026 car render
Formula 1

Rival F1 team boss allays Charles Leclerc fears over new 2026 car behaviour

38 minutes ago
Daniel Ricciardo is not an option on Cadillac's list
Formula 1

Cadillac rules out attempt to lure Daniel Ricciardo back to F1

2 hours ago
Christian Horner (GBR) Red Bull Racing Team Principal. 15.03.2025. Formula 1 World Championship, Rd 1, Australian Grand Prix, Albert Park, Melbourne, Australia, Qualifying Day
Formula 1

Why Christian Horner’s F1 future is unlikely to lie at Ferrari

4 hours ago
Load More

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Upcoming Races

#EventDate
13Belgian GP25-27 July
14Hungarian GP01-03 August
15Dutch GP29-31 August
16Italian GP05-07 September
17Azerbaijan GP19-21 September

Click here for the full 2025 F1 calendar

Drivers’  Standings

#DriverPts
Oscar Piastri234
Lando Norris226
Max Verstappen165
George Russell147
Charles Leclerc120
Lewis Hamilton103
Andrea Kimi Antonelli63
Alexander Albon44
Nico Hulkenberg37
Isack Hadjar28

Click here for full Drivers’ Standings

Latest Articles

Formula 1 FIA 2026 car render
Formula 1

Rival F1 team boss allays Charles Leclerc fears over new 2026 car behaviour

July 12, 2025
Daniel Ricciardo is not an option on Cadillac's list
Formula 1

Cadillac rules out attempt to lure Daniel Ricciardo back to F1

July 12, 2025
Christian Horner (GBR) Red Bull Racing Team Principal. 15.03.2025. Formula 1 World Championship, Rd 1, Australian Grand Prix, Albert Park, Melbourne, Australia, Qualifying Day
Formula 1

Why Christian Horner’s F1 future is unlikely to lie at Ferrari

July 12, 2025

Follow Motorsport Week

Join our daily motorsport newsletter

* indicates required

Motorsport Week

© 2024 Motorsport Media Services Ltd

Other Links

  • About & Contact
  • Privacy Policy
  • Motorsport Monday

Follow Us

No Result
View All Result
  • Login
  • Sign Up
  • Home
  • Formula 1
    • Latest News
    • 2025 F1 Calendar
    • 2025 F1 Championship Standings
  • Formula E
    • Latest News
    • 2025 FE Calendar
    • 2025 FE Championship Standings
  • MotoGP
    • Latest News
    • 2025 MotoGP Calendar
    • 2025 MotoGP Standings
    • Moto2
    • Moto3
    • World Superbikes
  • WRC
    • Latest News
    • 2025 WRC Calendar
    • 2025 WRC Standings
  • IndyCar
    • Latest News
    • 2025 IndyCar Calendar
    • 2025 IndyCar Standings
  • WEC
    • Latest News
    • 2025 WEC Calendar
  • Live Updates
  • Other
    • IMSA
    • Formula 2
    • Formula 3
    • F1 Academy
    • Moto2
    • Moto3
    • World Superbikes
  • Galleries
  • About/Contact
  • Privacy Policy

© 2024 Motorsport Media Services Ltd