Daimler Truck Holding Ag · XETR:DTG
Daimler Truck — Daimler Truck Southern Africa (DTSA) — Debt Investor Presentation (August 2024)
31 slides from Daimler Truck's debt investor presentation, Aug 19, 2024
Slide 1: Investor Roadshow
INVESTOR ROADSHOW 19 – 20 August 2024
Slide 2: 01 – Business Overview
01 – Business Overview Maretha Gerber President & Group CEO DTSA 1
Slide 3: For All Who Keep the World Moving
FOR ALL WHO KEEP THE WORLD MOVING WE START WE BUILD WE LEAD WITH WE PROGRESS WITH LISTENING TO SOLVE THE LONG VIEW TOGETHER Presentation Title | Department | Date 3 3
Slide 4: Daimler Truck Southern Africa group structure
Daimler Truck Southern Africa is a proud Level 1 B-BBEE contributor and listed on the JSE Daimler Truck AG 100% Daimler Truck Southern Africa (DTSA) 100% 100% Daimler Truck Sandown Motor Financial Services SA Holdings (DTFS SA) (SMH) Daimler Truck Southern Africa
Slide 5: Board of Directors
Board of Directors Hartmut Schick Andreas von Wallfeld Jürgen Distl Maretha Gerber Chairperson Non-Executive Director Non-Executive Director Executive Director Former Daimler Board Member Head of Daimler Truck Overseas Head of International Operations MB Trucks President & Group CEO Ndumi Medupe Tsa
Slide 6: Executive Committee
Executive Committee Maretha Gerber Peter Kendzorra Gladstone Mtyoko Olaf Petersen Thabo Moloi President & Group CEO Executive Director & Group CFO Vice President Manufacturing Vice President Sales & Marketing General Manager Used Sales Mike Honiball Ziyad Gaba Deon de Vries Tebogo Shumba Kevin Wels
Slide 7: Market leadership amongst 22 OEMs with record sales volumes
Based on full-year 2023, we retained market leadership amongst 22 OEM’s and achieved record sales volumes Market Size New Vehicle Unit Sales Used Vehicle Unit Sales South Africa Southern Africa Southern Africa 28.877 26.467 4.231 23.668 4.691 1.395 4.271 5.487 5.457 5.594 1.277 5.870 4.889 4.281 992
Slide 8: Record parts sales for both MB and FUSO
Record parts sales for both MB and FUSO. Strong performance on Value Chain products for all brands and Fleetboard as a serial standard on all MB Trucks NRCP (b Rand) Service Contracts Complete 1.768 1.542 1.316 87% 1.541 78% 77% 1.366 1.154 49% 48% 49% 12% 11% 6% 2021 2022 2023 2021 2022 2023 2021 2
Slide 9: Addressing Educational Gaps
DAIMLER TRUCK CARES & as DTSA we do our part to alleviate some of the struggle & inequalities that forms part of the South African societal landscape Promoting Enterprise & Supplier Development Addressing Educational Gaps Driver Health & Wellbeing Education & Training Daimler Truck Southern Africa
Slide 10: Our Mission and Vision
OUR VISION | TO BE THE COMMERCIAL VEHICLE PARTNER OF CHOICE IN SOUTHERN AFRICA & TO BE AN EMPLOYER OF CHOICE WITH ENGAGED EMPLOYEES OUR MISSION | ADD EXCEPTIONAL VALUE FOR ALL OUR STAKEHOLDERS Add Value for Society Add Value for Customers & Dealers Add Value for Shareholders We strive to build our e
Slide 11: 02 – Business and Financial Overview
02 – Business and Financial Overview Peter Kendzorra Group CFO DTSA
Slide 12: Strong Performance in Heavy Duty and Bus Boosts Revenues
Strong Performance in the Heavy Duty Segment and in the Bus Market Boost Revenues, Supported by Strong Pricing Strategy DTSA ZAR mn 12 112 10 560 7 751 2021 2022 2023 Daimler Truck Southern Africa
Slide 13: Strong business development leading to robust profit development
Strong business development leading to robust profit development DTSA ZAR mn 306 232 228 2021 2022 2023 Daimler Truck Southern Africa
Slide 14: Year-End Inventory Stabilized Following 2021 Supply Chain Disruptions
Year-End Inventory Stabilized Following 2021 Supply Chain Disruptions DTSA ZAR mn 3 337 3 215 1 672 2021 2022 2023 Daimler Truck Southern Africa
Slide 15: Strong cash position due to stable working capital
Strong cash position due to stable working capital development and normalised investment levels 540 299 211 611 275 983 805 58 991 36 691 305 582 72 408 191 908 Earnings before Working Capital Non-Cash Items Net Investment Net Financing CFBIT Tax paid Net interest Net cash flow interest and tax Daim
Slide 16: Significant balance sheet growth due to growth in DTFS business
Significant balance sheet growth due to growth in DTFS business Assets Liabilities Equity 22,122 19,346 18,579 15,959 3,645 6,804 15,149 5,870 12,698 3,334 4,675 2,698 2,610 2,776 15,701 2,451 15,318 12,625 12,709 10,000 10,000 1,977 474 474 YE2021 YE2022 YE2023 YE2021 YE2022 YE2023 YE2021 YE2022 YE
Slide 17: 03 – DTFS SA Overview
03 – DTFS SA Overview Mike Honiball CEO DTFS SA
Slide 18: Where the DTFS Journey Began
Where the DTFS Journey Began 180 day old 25 years of 12 000 >R10bn in start up experience customer portfolio Contracts Daimler Truck Southern Africa
Slide 19: DTFS – Year 1 and Year 2 results
DTFS – Year 1 (2022) 32.9% R78.3mn 40% 4.3% Cost to income Portfolio Growth EBIT ratio ROE DTFS – Year 2 (2023) 20.5% R157.8mn 34.5% 13.7% Cost to income Portfolio YoY EBIT ratio ROE Growth Daimler Truck Southern Africa
Slide 20: 04 – DTFS SA Overview
04 – DTFS SA Overview Hanif Ahmed CFO DTFS SA
Slide 21: DTFS South Africa maintains benchmark penetration rates
DTFS South Africa Maintains benchmark penetration rates, resulting in strong acquisitions with accelerated portfolio growth Penetration Rate (%) Acquisitions (v) Portfolio (v) - in ZAR mn - - in ZAR mn - Penetration Rate (%) Acquisitions 16,608 50% 3,482 49% 7,644 13,779 47% 6,989 2,893 10,369 953 5
Slide 22: Well Diversified Portfolio with strong Finance and Lease Products
Well Diversified Portfolio with strong Finance and Lease Products Portfolio be Product Type Customer Segmentation Dealer Logistics Floorplan Diverse 21% Construction 11% 47% 3% 23% Fuel Operating 12% 7% Lease 45% 9% Passenger Transport Instalment Agreement 27% 20% Commodities 22% Contract Purchase F
Slide 23: Proactive risk governance model with low net credit losses
Proactive risk governance model with low net credit losses supported by strong reserve levels Net Credit Losses (%) Credit Loss Reserves 719.6 1.49% 590.6 1.18% 565.2 1.02% 9 Years Average NCL 0,81% 457.4 0.78% 0.77% 0.76% 0.62% 0.59% 262.2 242.7 0.09% 2015 2016 2017 2018 2019 2020 2021 2022 2023 NC
Slide 24: 05 – Treasury
05 – Treasury John Keller Head of Treasury 23
Slide 25: Growth in overnight lines to support growing business need
Growth in overnight lines to support growing business need July 2022 July 2023 July 2024 Total R1,25bn Total R5,60bn Total R7.1bn 500 2,000 2,000 2,000 250 250 250 1,000 1,000 1,000 1,000 600 600 500 500 500 Bank 1 Bank 2 Bank 3 Bank 4 Bank 1 Bank 2 Bank 3 Bank 4 Bank 5 Bank 6 Bank 1 Bank 2 Bank 3 B
Slide 26: DMTN Issuances since inception of R5.5bn
DMTN Issuances since inception of R5.5bn providing optimal cost of funding -5.5 1.0 1.5 5.5 3.0 3.0 11.2 YE 22 Jun’23 - 3rd DMTN Sep’23 - 4th DMTN YE 23 Daimler Truck Southern Africa 12
Slide 27: DMTN Maturity – Well balanced profile
DMTN Maturity – Well balanced profile ensuring no concentration risk R1,300bn R4,882bn R4,842bn R1,5bn 1,200 1,142 1,090 1,000 1,000 1,000 1,000 1,000 1,000 1,000 792 800 700 600 EBIT 77 500 500 500 500 500 Interest - 77 Tax 12 400 300 200 - DTF007 DTP04U DTP09U DTF002 DTP01U DTF004 DTF09 DTP02U DTP
Slide 28: Proposed Issuance Details
Proposed Issuance Details Daimler Truck Southern Africa
Slide 29: Thank You
THANK YOU 25
Slide 30: Disclaimer
Disclaimer No offer or investment recommendation This presentation is provided for information purposes only and may not be reproduced either in full or in part, nor may it be passed on to another party. It constitutes neither an offer nor an invitation to subscribe or to purchase securities, nor is
Slide 31: Disclaimer – Forward-looking Statements
Disclaimer Forward-looking Statements This presentation contains forward-looking statements that reflect our current views about future events. The words “aim”, “ambition”, “anticipate”, “assume”, “believe”, “estimate”, “expect”, “intend”, “may”, ”can”, “could”, “plan”, “project”, “should” and simil
Daimler Truck Southern Africa (DTSA) — Debt Investor Presentation (August 2024) on 6ix