The pre-tax profit at the Formula 1 champion Mercedes-Benz increased in the last financial year, as recently published reports have shown.
Based in Brackley, Northamptonshire, the team had sales of £ 355.3 million as of December 31, 2020, down slightly from £ 363.6 million in 2019.
However, the accounts submitted as part of the Mercedes-Benz Grand Prix showed that the team’s pre-tax profit rose from £ 17.1m to £ 17.2m over the same period.
Mercedes-Benz was the first team to win the constructors ‘and drivers’ titles for the seventh time in a row.
In a shortened calendar of 17 races due to Covid-19, the team achieved 13 race wins, five double wins and 25 podiums.
A declaration signed by director Toto Wolff states: “The directors are proud and excited to be starting the 2021 season and are committed to maintaining the impressive success story since 2014 and providing innovative solutions in areas outside of motorsport to demonstrate.
“As a high-tech company, the team can adapt competitively and economically to changes in its operating environment and will continue to invest in its skills and culture to ensure medium and long-term success both on and off the track.
“The Mercedes-Benz Grand Prix is looking forward to welcoming INEOS as a third shareholder alongside Motorsports Invest and Daimler AG in 2021.
“The company would like to thank Mercedes-Benz, PETRONAS and our other partners for their continuous support.”
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