Mercedes-benz Group Ag · XETR:MBG
Mercedes-benz — Debt Investor Presentation (2023)
88 slides from Mercedes-benz's debt investor presentation, 2023
Slide 1: Fixed Income Presentation Q1 2023
Fixed Income Presentation Q1 2023 Mercedes-Benz Group AG
Slide 2: Agenda
AGENDA I. Mercedes-Benz Group Review Q1 2023 II. Divisional Review Q1 2023 III. Outlook FY 2023 IV. Funding V. Sustainability VI. Luxury Strategy VII. Operating System
Slide 3: Mercedes-Benz Group: Key figures
Mercedes-Benz Group: Key figures Revenue EBIT EBIT adj. Free Cash Flow (IB) Net Industrial Liquidity in billion euros in billion euros in billion euros in billion euros in billion euros +8% +5% +2% +8% 37.5 5.5 5.4 28.9 5.2 5.3 26.6 34.9 +78% 2.2 1.2 Q1 2022 Q1 2023 Q1 2022 Q1 2023 Q1 2022 Q1 2023 Q
Slide 4: Mercedes-Benz Group: Group EBIT
Mercedes-Benz Group: Group EBIT In million euros 253 192 5,422 82 5,504 5,229 72 5,301 -130 -194 • Legal proceedings + 281 • M&A transactions - 918 • Russia + 709 • Legal proceedings + 82 EBIT EBIT EBIT Mercedes-Benz Mercedes-Benz Mercedes-Benz EBIT Adjustments adjusted Reconciliation adjusted Adjus
Slide 5: Reconciliation from CFBIT to Free Cash Flow
Mercedes-Benz Group: Reconciliation from CFBIT to Free Cash Flow* In million euros 410 2,981 2,164 81 2,245 -989 -45 -98 -95 • Legal proceedings + 105 • M&A transactions - 125 • Restructuring + 101 Free cash flow Free cash flow Mercedes-Benz Mercedes-Benz Income taxes Effects from Other reconciling
Slide 6: Mercedes-Benz Group: Net Industrial Liquidity
Mercedes-Benz Group: Net Industrial Liquidity In billion euros 3.1 1.6 0.3 0.1 28.9 26.6 -0.9 -1.9 Free cash flow industrial business Q1 2023: € 2.2 billion Additions to Net Industrial Earnings and Depreciation and Investments in Net Industrial Working capital property, plant, Liquidity other cash f
Slide 7: Mercedes-Benz Group: Gross Liquidity
Mercedes-Benz Group: Gross Liquidity inbillions in billionsof EURof EUR MBM Industrial Business 0.6 -1.7 2.2 -5.1 2.2 0.1 2.9 0.1 26.0 24.7 -0.1 0.0 3.4 4.6 22.6 20.2 Liquidity Dividend Share IB MBM Other ABS New Bond New FX + Other Liquidity Dec 2022 Payment Buyback FCF FCF Debt Maturities ABS Matu
Slide 8: Financial flexibility over a 12-month period
Mercedes-Benz Group: Financial flexibility over a 12-month period Q1 2023 in billions of EUR 54,0 ABS potential Other incl. 41,6 Fin. Lease Net industrial liquidity increased to €28.9 billion Daimler Truck Commercial stake paper Gross industrial liquidity at €22.6 billion Credit facility Bank loans
Slide 9: Agenda
AGENDA I. Mercedes-Benz Group Review Q1 2023 II. Divisional Review Q1 2023 III. Outlook FY 2023 IV. Funding V. Sustainability VI. Luxury Strategy VII. Operating System
Slide 10: Mercedes-Benz Cars: Key messages
Mercedes-Benz Cars: Key messages Performance: Significant Top-End sales and almost doubled BEV sales Profitability: Strong net pricing and double-digit margin demonstrating weatherproofed business Products: New Mercedes-Maybach EQS SUV and all new E-Class unveiled, EQE SUV start of sales Strategy: M
Slide 11: Mercedes-Benz Cars: Top-End and electric vehicle unit sales
Mercedes-Benz Cars: Top-End and electric vehicle unit sales In thousand units +3% 503 487 +18% +24% Top-End 78 92 92* 92 10 G 78* 7 Maybach 74 8 6 52 BEV 248 Core 280 40 AMG 27 28 S EQS 47 163 46 48 GLS 40 PHEV Entry ** 129 EQS SUV Q1 2022 Q1 2023 Q1 2022 Q1 2023 Q1 2022 Q1 2023 Total MBC Top-End El
Slide 12: Mercedes-Benz Cars: Financials
Mercedes-Benz Cars: Financials Sales Revenue EBIT adj. CFBIT adj. in thousand units in billion euros in billion euros in billion euros +3% +8% -3% 503.5 487.0 27.8 4.2 4.1 25.8 +80% 3.0 1.7 +6% 76.0* 71.5* Q1 2022 Q1 2023 Q1 2022 Q1 2023 Q1 2022 Q1 2023 Q1 2022 Q1 2023 * ASP in thousand euros excl.
Slide 13: Mercedes-Benz Cars: Q1 2023 EBIT & RoS
Mercedes-Benz Cars: Q1 2023 EBIT & RoS In million euros Gross Profit +591 1,342 -203 4,271 4,243 -548 -127 -46 4,113 35 4,148 -28 -292 -257 RoS: RoS: RoS: RoS: 16.5% 16.4% Strongly improved net pricing 14.8% 14.9% Slightly increased unit sales & favourable product mix Higher raw material prices and
Slide 14: Mercedes-Benz Cars: EBIT to CFBIT
Mercedes-Benz Cars: EBIT to CFBIT In million euros 4,148 350 1,521 -835 2,981 39 3,020 -481 -1,722 CCR: CCR: 0.7 0.7 t/o • Inventories - 2,899 • Legal proceedings + 72 • Trade receivables + 249 t/o • Restructuring + 92 • Trade payables + 1,815 • Result at-equity BBAC - 426 • M&A transactions - 125 N
Slide 15: Mercedes-Benz Vans: Key messages
Mercedes-Benz Vans: Key messages Performance: Healthy sales with strong earnings Profitability: Strongly improved net pricing outweighs cost inflation Products: World premiere of new eSprinter very well perceived Strategy: Virtual Van CMD on May 16 Fixed Income Presentation Q1 2023 15
Slide 16: Mercedes-Benz Vans: Electric vehicle unit sales
Mercedes-Benz Vans: Electric vehicle unit sales In thousand units +12% 99 +22% 3.6 89 2.9 thereof thereof Q1 2022 Q1 2023 Q1 2022 Q1 2023 Total MB Vans Battery electric vehicles Share in % of volume 3% 4% Fixed Income Presentation Q1 2023 16
Slide 17: Mercedes-Benz Vans: Financials
Mercedes-Benz Vans: Financials Sales Revenue EBIT adj. CFBIT adj. in thousand units in billion euros in million euros in million euros +12% 98.9 +25% 4.6 +54% 88.5 719 3.7 +3% 466 450 437 Q1 2022 Q1 2023 Q1 2022 Q1 2023 Q1 2022 Q1 2023 Q1 2022 Q1 2023 Fixed Income Presentation Q1 2023 17
Slide 18: Mercedes-Benz Vans: Q1 2023 EBIT & RoS
Mercedes-Benz Vans: Q1 2023 EBIT & RoS In million euros Gross Profit +320 599 9 5 43 762 719 -288 -31 -26 -14 118 466 348 RoS: RoS: 15.6% 16.5% Strongly improved net pricing RoS: RoS: Significantly increased unit sales 12.6% 9.4% • Russia + 51 Higher raw material prices and one time commodity charge
Slide 19: Mercedes-Benz Vans: EBIT to CFBIT
Mercedes-Benz Vans: EBIT to CFBIT In million euros 762 19 103 -102 -142 40 450 410 -230 CCR: CCR: 0.5 0.6 t/o • Inventories - 545 t/o • Trade receivables + 124 • Provisions - 124 • Legal proceedings + 37 • Trade payables + 319 • Result at-equity FBAC - 24 • Restructuring + 3 Net investments Deprecia
Slide 20: Mercedes-Benz Mobility: Key messages
Mercedes-Benz Mobility: Key messages Business: Stable portfolio and penetration rate development Performance: Stable cost of credit risk despite challenging environment reflecting high portfolio quality Profitability: Interest margin impacted by headwinds from higher interest rates Strategy: Activel
Slide 21: Mercedes-Benz Mobility: Financials
Mercedes-Benz Mobility: Financials New Business Contract Volume EBIT adj. in billion euros in billion euros in million euros +1% -2% 14.5 14.7 134.4 131.3 -26% 733 539 Q1 2022 Q1 2023 Q1 2022 Q1 2023 Q1 2022 Q1 2023 Fixed Income Presentation Q1 2023 21
Slide 22: Mercedes-Benz Mobility: Q1 2023 EBIT & RoE
Mercedes-Benz Mobility: Q1 2023 EBIT & RoE In million euros 733 0 733 14 -1 -138 -18 539 0 539 -17 -35 RoE: RoE: 20.2% 20.2% RoE: RoE: Stable portfolio and penetration rate development 15.6% 15.6% Stable cost of credit risk despite challenging environment reflecting high portfolio quality Interest m
Slide 23: Mercedes-Benz Mobility: Net credit losses
Mercedes-Benz Mobility: Net credit losses* in thousand units 0.89% 0.83% 0.68% 0.61% 0.50% 0.51% 0.43% 0.36% 0.37% 0.34% 0.33% 0.31% 0.31% 0.26% 0.26% 0.24% 0.21% 0.21% 0.23% 0.18% 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 ytd. * As percentage of
Slide 24: Agenda
AGENDA I. Mercedes-Benz Group Review Q1 2023 II. Divisional Review Q1 2023 III. Outlook FY 2023 IV. Funding V. Sustainability VI. Luxury Strategy VII. Operating System
Slide 25: Mercedes-Benz Divisional Guidance 2023
Mercedes-Benz Divisional Guidance 2023 ASSUMPTION With regional differences the overall growth momentum of the world economy is likely to remain rather subdued for the rest of the year. High, albeit gradually declining, inflation rates in many markets combined with very restrictive monetary policies
Slide 26: Mercedes-Benz Group Guidance 2023
Mercedes-Benz Group Guidance 2023 ASSUMPTION With regional differences the overall growth momentum of the world economy is likely to remain rather subdued for the rest of the year. High, albeit gradually declining, inflation rates in many markets combined with very restrictive monetary policies at m
Slide 27: Agenda
AGENDA I. Mercedes-Benz Group Review Q1 2023 II. Divisional Review Q1 2023 III. Outlook FY 2023 IV. Funding V. Sustainability VI. Luxury Strategy VII. Operating System
Slide 28: Our funding strategy is built on strict principles
Our funding strategy is built on strict principles No dependence from single markets, instruments, banks or investors Targeting Diversification of funding sources and instruments: Financial Bank Loans, Bonds, ABS, Commercial Paper Independence No Covenants and asset pledges, no Credit Support Agreem
Slide 29: Portfolio at Mercedes-Benz Mobility remained stable compared to 2022
Portfolio at Mercedes-Benz Mobility remained stable compared to 2022 Wholesale 163 154 151 140 Loan 133 134 132 131 Lease 117 Truck spin-off (Phase 1) 99 Truck Portfolio 84 spin-off (in bn €) (Phase 2) Others 72 74 71 68 62 64 58 58 Vans Acquisitions 48 (in bn €) 41 15 2013 2014 2015 2016 2017 2018
Slide 30: Mobility business benefits from stringent credit management and solid refinancing
Mercedes-Benz Mobility business benefits from stringent credit management and solid refinancing Net credit losses as a percentage of portfolio, subject to credit risk 0.89 Net credit losses remain on a low level benefiting 0.83 from strong used car markets. Yet risks remain to 0.61 the upside due to
Slide 31: Well balanced Bond Maturity Profile
Well balanced Bond Maturity Profile in billions of EUR as of 31st March 2023 Issued in 2023 11.4 Maturities 7.9 6.9 0.9 5.9 6.9 1.0 4.7 0.1 3.6 6.9 3.0 3.1 2.4 4.9 4.7 0.9 1.3 1.0 2.1 0.5 2023 2024 2025 2026 2027 2028 2029 2030 2031 2033 2034 2037 Fixed Income Presentation Q1 2023 31
Slide 32: Financing liabilities show a diversified funding mix
Financing liabilities show a diversified funding mix in billions of EUR Lease Liabilities Acc. Deposits Other (ex Lease Liab.) Bank Loans Com. Paper Bonds ABS 161.8 3% 145.8 3% 9% 1% 1% 2% 125.8 2% 8% 11% 0% 1% 10% 111.8 2% 109.5 2% 15% 0% 25% 1% 1% 11% 15% 2% 4% 22% 16% 9% 19% 9% 22% 21% 53% 53% 53
Slide 33: Balanced mix of funding instruments for sustainable portfolio growth
To ensure sustainable portfolio growth, we mitigate risk and volatility through a balanced mix of funding instruments Capital Markets Strengthen our global footprint and use market opportunities Deepen our excellent Other Lease Liabilities Bank Loans bank relationships 1% 2% Bank loans Globally expa
Slide 34: Diversified global funding base matched with MBM requirements
Diversified global funding base: continuously matched with MBM requirements Canada EMTN Domestic Bonds CP Prog. Europe ABS EMTN Program Japan EUR CP Program Domestic CP Prog. USA Italy & Hungary: China EMTN 144a / RegS PP - Domestic Bonds Turkey ABS Domestic Bond Prog. EMTN ABS Domestic Bond Prog. A
Slide 35: Financial KPIs set to support a strong rating
Mercedes-Benz Group’s financial KPIs set to support a strong rating Agency Long-term Outlook Short-term Standard & Poor's: A- positive A-2 Moody’s: A2 stable P-1 Current Ratings: Fitch: A- positive F1 DBRS: A (low) stable R-1 (low) Scope: A positive S-1 Fixed Income Presentation Q1 2023 35
Slide 36: Contributions stabilized funded ratio in low interest rate environment
Contributions stabilized funded ratio in low interest rate environment Daimler Group Mercedes-Benz Group (excl. Truck) 14 11.5 12 10 8.6 8.1 8 7.4 7.8 5.9 Significant contri- 6 3.1 4.5 3.7 4.3 4.3 butions since 2013 4 2.4 2 0.5 1.9 0.5 0.5 0.6 0.5 1.5 support the solid 0.4 0 0 capital structure -2 -
Slide 37: Agenda
AGENDA I. Mercedes-Benz Group Review Q1 2023 II. Divisional Review Q1 2023 III. Outlook FY 2023 IV. Funding V. Sustainability VI. Luxury Strategy VII. Operating System
Slide 38: Holistic sustainable business strategy
We follow a holistic sustainable business strategy: Ecological, social, economical Climate & Air Protection Human Resource Rights Conservation Integrity People Data Sustainable Responsibility Urban Mobility Partnerships Traffic Safety Fixed Income Presentation Q1 2023 38
Slide 39: Proportional CO2 impact along the value chain
Supply chain Production & logistics Well-to-tank Tank-to-wheel End-of-life TODAY’S PROPORTIONAL CO2 IMPACT ALONG THE VALUE CHAIN 49.7 tCO2 in 2020 - 47.8 tCO2 in 2022 - more than half per decade Fixed Income Presentation Q1 2023 39
Slide 40: Halve lifecycle CO2 emissions per vehicle this decade
We will at least halve lifecycle CO2 emissions per vehicle in this decade* 100% More than half per decade End-of-life Use phase Use phase Production & Production & logistics logistics Supply chain & Supply chain raw materials 2020 2030 * when market conditions allow Fixed Income Presentation Q1 2023
Slide 41: Electric product rollout with nine electric models
Our electric product rollout is running at full speed with nine electric models on the road and more to come Since 2022 we offer an all-electric alternative in 2019 every segment we serve EQC By 2025, our customers will be able to choose an all-electric alternative for every model we make 2020 EQV I
Slide 42: Way to an all-electric future: MMA and electric-only architectures
We are on the way to an all-electric future - MMA followed by three “electric only” architectures mid-decade MEDIUM AND FULL-SIZE CARS PERFORMANCE ELECTRIC NEW ERA Scalable modular system for VEHICLES For electric vans and light our EV portfolio Architecture commercial vehicles Fixed Income Presenta
Slide 43: Expanding activities in battery cells and systems with partners
Together with our partners, we will expand our activities in battery cells and systems Our target: Capacity of more than 200 Gigawatt hours Needed battery volume for all car lines 200 Gwh Local-for-local strategy with partners and new cell factories around the world Envision AESC Cell production i
Slide 44: By joining ACC, we build a European battery champion
By joining ACC, we build a European battery champion We take a one third stake in Automotive Cells Company (ACC). Our goal: Joint development and production of cells and modules in Europe. ACC will reach a capacity of at least 120 Gigawatt hours in Europe by the end of the decade. ACC will supply Me
Slide 45: All own plants worldwide producing net carbon-neutral
All of our own Mercedes-Benz plants world-wide are producing 100% net carbon-neutral Together with our EV strategy, Mercedes-Benz global production network net carbon-neutral production is a key driver of Ambition 2039 Since the beginning of 2022, production sites worldwide fully owned by Mercedes-B
Slide 46: Factory 56 is a zero-carbon factory
Our Factory 56 is a zero-carbon factory and serves as a blueprint for our global Mercedes-Benz production network At our Factory 56 in Sindelfingen producing more sustainable is already reality The innovative energy concept includes a photovoltaic system, a DC power grid and energy storage based on
Slide 47: Net carbon-neutral production and on-site clean energy
Having achieved net carbon-neutral production in 2022, not only do we use clean energy in production, we also produce it It is our ambition to make all Mercedes- Benz factories renewable energy production sites Maximising our on-site photovoltaic systems worldwide by 2025 – adding up to 140 MWp new
Slide 48: Water usage reduction and sustainable heat supply
Water usage reduction and a sustainable heat supply are cornerstones in reducing our ecological footprint Our use of water will be cut by 35% by 2030 thanks to multi-reuse of water in production We boost the sustainability of our plants’ heat supply, especially focusing on our paint shops We plan to
Slide 49: Sustainable supply chains for focus materials
We create sustainable supply chains for focus materials via technology changes ~90% Steel – CO2 reduction: optimised of our annual purchasing volume is supplied by companies that follow our conventional ambition to become net carbon-neutral Base green electricity Aluminium sheet/cast H2GS Thermoplas
Slide 50: Green and net carbon-neutral supply chain
We are establishing a green and net carbon-neutral supply chain In the future, raw materials for battery Raw materials components only from IRMA-certified mines Processed materials & components Cooperation with strategic partners, e. g. for lithium hydroxide with German-Canadian Rock Tech Lithium In
Slide 51: Closing the loop on batteries through recycling
Mercedes-Benz is closing the loop on batteries through sustainable recycling Own CO2-neutral recycling plant in Kuppenheim, southern Germany start operations in summer 2024 with the first phase - shredding batteries - in 2023 >96% Hydrometallurgy: Innovative technology increases recovery rate to mor
Slide 52: Our people plan: Re-shape, Re-skill, Re-charge
Our people plan focuses on a just transition for our employees 3,000 Re-shape Realignment of our global Individual target plans production network towards positions for for our entities, plants electric vehicles and streamlining our organisation software engineers and functions digitalisation in a r
Slide 53: We empower our team to shape a successful transformation
We empower our team to shape a successful transformation >1,300,000,000 € for qualification from 2022 until 2030 ~1,900,000 hours of professional and personal training in 2022 Existing Learning Opportunities ø 1,000 € per employee/ year Customized Learning Paths in Germany eLearning Platforms Fixed
Slide 54: Transparency and direct communication with shareholders
We provide transparency and support direct communication with our shareholders Multi-platform-based shareholder communication & Comprehensive disclosure according to capital market standards & frameworks COM M U NI CA TI ON R E P O R TING Fixed Income Presentation Q1 2023 54
Slide 55: We finance our transformation in a sustainable manner
We finance our transformation in a sustainable manner GREEN FINANCE FRAMEWORK REVOLVING CREDIT FACILITY GREEN PANDA BOND In line with Ambition 2039 In line with Ambition 2039 First automaker to issue a Green Panda Bond “DARK GREEN” by CICERO 11 billion euros linked to carbon footprint and BEV share
Slide 56: Substantial progress in our climate efforts
We are making substantial progress in our climate efforts 230 of companies worldwide received an A rating from CDP1 for their climate efforts – Mercedes-Benz is one of them 1 Carbon Disclosure Project Fixed Income Presentation Q1 2023 56
Slide 57: Agenda
AGENDA I. Mercedes-Benz Group Review Q1 2023 II. Divisional Review Q1 2023 III. Outlook FY 2023 IV. Funding V. Sustainability VI. Luxury Strategy VII. Operating System
Slide 58: The original and most valuable luxury car brand
Mercedes-Benz – The original and most valuable luxury car brand Heritage: Formula 1: Mercedes-Benz is built on constant reinvention The power of F1 for our brand 37% female 54% under 35 823 m fans Source: Interbrand Best Global Brands 2021 Fixed Income Presentation Q1 2023 58
Slide 59: There's no luxury without sustainability
Zeitgeist relevance: There’s no luxury without sustainability Our sustainability goals: 2022 Mid-Decade 2030 2039 Net carbon-neutral Up to ready to go all electric Net carbon-neutral production 50% xEVs where market conditions allow Fixed Income Presentation Q1 2023 59
Slide 60: Approaching our customers
Approaching our customers 20 80% 25% Fixed Income Presentation Q1 2023 60
Slide 61: Exclusivity: Significant progress with top-end vehicles
Exclusivity: Significant progress with our top-end vehicles and increasingly electric with even more conquest potential +27% ~60% Expected growth of top-end vehicle share Top-end vehicle unit sales in 2022 vs. 2019 of total Mercedes-Benz sales 2019-2026 Fixed Income Presentation Q1 2023 61
Slide 62: Our game plan: generate returns consistent with luxury status
Our game plan: generate returns consistent with our luxury status - Focus on pricing power - Drive ASP higher - Optimise product portfolio - Find a superior operating equilibrium - Tap full potential of top-end segment - Structurally higher profitability and improved - Exit lower margin products mar
Slide 63: The power of pricing is part of our strategy
The power of pricing is part of our strategy Key Levers - Superior brand drives pricing power - Strong products enable ambitious initial price setting versus competition - Sustainable price escalation - Tight discounts: from sales push to lifecycle management - Direct sales model allows grip on pric
Slide 64: Reshaped model portfolio will drive profitable sales growth
Reshaped model portfolio will drive profitable sales growth Change of Mercedes-Benz 2021-2026 segment share in 2.3 m cars 1.9 m cars Car Sales CAGR approx. 5% p.a. 2026 vs. 2019 Around Top-End Luxury +60% Core Luxury 0% Entry Luxury -25% 2019 2021 2026 Fixed Income Presentation Q1 2023 64
Slide 65: Entry Luxury – Focus & Elevate
Entry Luxury – Focus & Elevate - Elevate to Entry Luxury 680k 570k - Product range refocused on fewer and more upscale portfolio positions: 4 bodystyles instead of 7 -25% - The new entrance point of the portfolio is being redefined with the next around +20% significantly up generation of vehicles -
Slide 66: Core Luxury – Grow & Refine
Core Luxury – Grow & Refine - Core Luxury going electric on an accelerated timescale, leveraging EVA 1.350k 1.030k (EQE, EQE-SUV) and then MB.EA architectures flat - Very attractive C-Class in the market GLC launched end of 2022 Brand new E-Class in 2023 around +25% regular price adjustments - Prote
Slide 67: Top-End Luxury – Expand & Enhance
Top-End Luxury – Expand & Enhance - Starting point: Over 300k top-end luxury units with ASP of > € 100k and 250k 305k top-end profitability - Sustainable segment growth +60% - Desirable products fueling growth: EQS, EQS-SUV, EQS-SUV Maybach, SL, GT, AMG.EA around +15% regular price adjustments - Ult
Slide 68: Changing our economic equation
Changing our economic equation - Enhance ROIC: control the denominator while raising the numerator (operating and cash margins) - Drive growth through high utilisation, ‚reverse auction‘ of available capacity to build the most profitable models - 75% of capital allocation focused on top-end and core
Slide 69: Financial ambitions for Mercedes-Benz Cars in 2025
Our financial ambitions for Mercedes-Benz Cars in 2025: structurally higher profitability and lower margin volatility Market level, competitive actions, commodity and raw material markets > -20% vs. 2019 > -20% vs. 2019 > -20% vs. 2019 > -20% vs. 2019 > -20% vs. 2019 > -20% vs. 2019 approx. 8%/10% a
Slide 70: Agenda
AGENDA I. Mercedes-Benz Group Review Q1 2023 II. Divisional Review Q1 2023 III. Outlook FY 2023 IV. Funding V. Sustainability VI. Luxury Strategy VII. Operating System
Slide 71: Roadshow Presentation Q1 2023
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Slide 72: Purpose-built and open to partners
1. Purpose-built and open to partners 2. Personalized services through one unique Mercedes Me ID 3. Privacy-by-design from th e very beginning 4. Full overt-the-air updatability and decoupled software and hardware releases Roadshow Presentation Q1 2023 72
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Slide 88: Disclaimer
Disclaimer This document contains forward-looking statements that reflect our current views about future events. The words “anticipate”, “assume”, “believe”, “estimate”, “expect”, “intend”, “may”, “can”, “could”, “plan”, “project”, “should” and similar expressions are used to identify forward-lookin
Mercedes-Benz Group — Debt Investor Presentation (2023) on 6ix