Mercedes disclose huge 2024 turnover rise in Hamilton's last season with the team

Despite finishing fourth in the Constructors’ Championship, Mercedes can still boast strong financial growth in terms of turnover for the 2024 season — the final year Lewis Hamilton raced in black before his move to Ferrari in 2025.

“In terms of key business performance metrics, turnover grew by 16% to £636.0 million ($858 million),” Mercedes reported. “This resulted primarily from higher commercial revenues from sponsorship and licensing, which accounted for over 60% of income in 2024.”

A truly significant figure that confirms how the brand remains one of the strongest in the sport, despite its last Constructors’ title dating back to the 2021 season.

In 2023, Mercedes had finished third in the Constructors’ Championship, compared to fourth last year, but the four victories achieved by George Russell and Lewis Hamilton allowed the team to secure a £120.3 million profit for the year — a £36.5 million improvement compared to the previous season.

The Brackley-based team also secured the second-highest share from the 2024 prize money — the amount Formula 1 distributes to teams annually. According to estimates, Mercedes pocketed a remarkable $242.3 million, $13 million more than in 2023, which further boosted its overall financial figures.

In addition to revenue, operational costs also increased compared to the previous championship — not so much due to car development or staff expenses, but rather due to infrastructure development.

The report adds that “during the year the redevelopment of the Brackley campus began with major infrastructure works, prior to the planned construction of two new buildings in 2025 which will help optimise operational efficiency,”

In total, operational costs reached £448.8 million — £35 million more than in the 2023 season.