Slide 1: 3M 2023 Interim Statement
Christian Levin, CEO | Dr. Michael Jackstein, CFO & CHRO 3M 2023 Interim Statement, Munich, 05-02-2023 .
Slide 2: Disclaimer
Disclaimer This presentation has been prepared for information purposes only. It does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any securities of Volkswagen AG, TRATON SE, or any company of the TRATON GROUP
Slide 3: Your presenters today
TRATON 3M 2023 Interim Statement Your presenters today Christian Levin Dr. Michael Jackstein CEO CFO and CHRO 05-02-2023 3M 2023 Interim Statement | Investor Relations 3 .
Slide 4: Agenda: Key results & highlights
TRATON 3M 2023 Interim Statement 1. Key results & highlights 2. Review of financial performance 3. Full year outlook 2023 4. Backup 05-02-2023 3M 2023 Interim Statement | Investor Relations 4 .
Slide 5: Very strong start into 2023
Very strong start into 2023 Q1 2023 Incoming orders 68.5k (-28%) Unit sales 84.6k (+25%) Sales revenue €11.2 bn (+31%) Vehicle Services €2.2 bn (+10%) Adj. oper. result €935 mn (+€534 mn) Adj. RoS 8.4% (+3.7 pp) 05-02-2023 3M 2023 Interim Statement | Investor Relations 5 .
Slide 6: TRATON GROUP highlights
TRATON GROUP highlights Go-live of Scania and Northvolt unveil green battery DB Schenker to use first MAN eTrucks TRATON Financial Services for 1.5 million truck kilometers from 2024 onwards Scania delivers 66-ton Navistar launches International S13 VWTB Volksbus: 30 years tailored for electric truc
Slide 7: Strongly improved unit sales, incoming orders lower
Strongly improved unit sales, incoming orders lower due to continued restrictive order acceptance Incoming orders Unit sales (k units) (k units) Incoming orders lower YoY due to still -28% restrictive order acceptance and despite +25% 95.6 92.0 continued strong market demand. 88.3 84.6 78.4 79.8 Ver
Slide 8: Review of financial performance
TRATON 3M 2023 Interim Statement 1. Key results & highlights 2. Review of financial performance 3. Full year outlook 2023 4. Backup 05-02-2023 3M 2023 Interim Statement | Investor Relations 8 .
Slide 9: Substantial top-line growth due to higher new vehicle sales
Substantial top-line growth due to higher new vehicle sales and increased Vehicle Services revenue Sales revenue (€ bn) Sales revenue increased by nearly one third 31% to more than €11 bn. 11.8 11.2 10.6 9.5 Expanded volumes, favorable market/product 8.5 mix, higher vehicle prices and strong Vehicle
Slide 10: TRATON with strong underlying earnings trajectory
TRATON with strong underlying earnings trajectory Adj. operating result Adj. RoS (€ mn) (%) Adjusted operating result more than +534 +3.7 doubled and profitability significantly 935 8.4 increased YoY. 724 Earnings benefited in particular from 6.1 − higher volumes 5.2 549 4.7 − better fixed cost abso
Slide 11: Q1 2023 performance and key drivers by brands/segments
Q1 2023 performance and key drivers by brands/segments TRATON Financial Services Sales revenue 4,172 3,404 2,738 709 352 (in € mn, YoY) (+31%) (+34%) (+32%) (+3%) (+18%) Adj. RoS 13.3% 5.8% 6.3% 9.2% 23.3% (YoY) (+5.6 pp) (+3.6 pp) (+2.6 pp) (-0.3 pp) (-0.7 pp) Key drivers + Volumes & + Volumes & fi
Slide 12: Net debt position improved mainly due to strong operating performance
Net debt position improved mainly due to strong operating performance Net financial debt bridge, 3M 2023 (€ mn) Net cash flow of €737 mn driven by − improved operating -589 192 1,300 25 -2,635 performance -3,118 -3,563 Debt − proceeds from sale of Scania Finance Russia related to Navistar acquisitio
Slide 13: Full year outlook 2023
TRATON 3M 2023 Interim Statement 1. Key results & highlights 2. Review of financial performance 3. Full year outlook 2023 4. Backup 05-02-2023 3M 2023 Interim Statement | Investor Relations 13 .
Slide 14: Key truck markets continue to be supportive
Key truck markets continue to be supportive, while economic uncertainties remain 400 336 386 k units, > 6t - Above-average fleet age 300 336 Market expectations2 & high pent-up demand EU27+31 200 2023e - Improving supply chains 100 - Robust logistics demand 0 0% – +15% and freight rates 09 11 13 15
Slide 15: Outlook 2023 upgraded following strong start to the year
Outlook 2023 upgraded following strong start to the year FY 2022 FY 2023 FY 2023 Outlook Outlook as per March 7, 2023 updated Unit sales 305.5 k +5 to +15% +5 to +15% +12% Sales revenue €40.3 bn +5 to +15% +5 to +15% +32% Operating RoS 5.1% 6.0 to 7.0% 7.0 to 8.0% (incl. PPA, expected to be (incl. P
Slide 16: Key takeaways
Key takeaways TRATON with very good start to the year. Significantly increased production and unit sales as well as good price realization drive double-digit % sales revenue growth. Strong underlying earnings trajectory with performance highlights at Scania and MAN brands. Positive net cash flow of
Slide 17: Backup
TRATON 3M 2023 Interim Statement 1. Key results & highlights 2. Review of financial performance 3. Full year outlook 2023 4. Backup 05-02-2023 3M 2023 Interim Statement | Investor Relations 17 .
Slide 18: GROUP – Outlook
TRATON GROUP – Outlook TRATON GROUP 2022 2023e Unit sales (units) 305,485 +5-15% Sales revenue (€ million) 40,335 +5-15% Adjusted RoS (in %) 5.1 7.0-8.0 TRATON Operations 2022 2023e Sales revenue (€ million) 39,554 +5-15% Adjusted RoS (in %) 5.7 7.5-8.5 Net cash flow (€ million) -625 1,800-2,3001 Ca
Slide 19: GROUP – Electric vehicles
TRATON GROUP – Electric vehicles Incoming orders of Unit sales of All TRATON brands with BEV products fully electric vehicles fully electric vehicles across major applications/weight classes (units) (units) 744 709 586 526 487 446 397 387 410 417 424 412 Scania electric bus Navistar electric bus VWT
Slide 20: GROUP – Sales revenue and adjusted operating result by segment
TRATON GROUP – Sales revenue and adjusted operating result by segment Sales revenue, Q1 2023 (€ mn) Adj. operating result, Q1 2023 (€ mn) Adj. RoS (∆ YoY) 13.3% 5.8% 6.3% 9.2% 9.0% 23.3% 8.4% (+5.6 pp) (+3.6 pp) (+2.6 pp) (-0.3 pp) (+3.8 pp) (-0.7 pp) (+3.7 pp) 709 352 11,186 10,940 (+18%) (+31%) 82
Slide 21: GROUP – Sales revenue
TRATON GROUP – Sales revenue Sales revenue (€ mn) Q1 21 Q2 21 Q3 21 Q4 21 FY 21 Q1 22 Q2 22 Q3 22 Q4 22 FY 22 Q1 23 Group 6,544 7,076 8,049 8,950 30,620 8,525 9,457 10,563 11,789 40,335 11,186 TRATON Operations 6,437 6,965 7,900 8,800 30,103 8,363 9,271 10,361 11,559 39,554 10,940 Scania Vehicles &
Slide 22: GROUP – (Adjusted) operating result and return on sales
TRATON GROUP – (Adjusted) operating result and (adjusted) return on sales Operating result & return on sales Adjusted operating result & adjusted return on sales Operating result (€ mn) Q1 21 Q2 21 Q3 21 Q4 21 FY 21 Q1 22 Q2 22 Q3 22 Q4 22 FY 22 Q1 23 Adj. operating result (€ mn) Q1 21 Q2 21 Q3 21 Q
Slide 23: GROUP – Adjustments
TRATON GROUP – Adjustments FY Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY Q1 Adjustments (€ mn) 20 21 21 21 21 21 22 22 22 22 22 23 Operating result 81 155 301 186 -248 393 355 306 -52 955 1,564 834 Scania V&S Expenses in connection with the EU antitrust proceedings 510 510 17 17 Expenses in connection with the r
Slide 24: Operations – Incoming orders and unit sales
TRATON Operations – Incoming orders and unit sales Incoming orders (units) Q1 20 Q2 20 Q3 20 Q4 20 FY 20 Q1 21 Q2 21 Q3 21 Q4 21 FY 21 Q1 22 Q2 22 Q3 22 Q4 22 FY 22 Q1 23 TRATON Operations 54,161 33,270 58,502 70,318 216,251 81,742 89,204 97,371 91,658 359,975 95,594 68,619 91,978 78,392 334,583 68,
Slide 25: Operations – Incoming orders and unit sales by brands
TRATON Operations – Incoming orders and unit sales by brands Units Q1 2023 Q1 2022 +/- Q1 2023 Q1 2022 +/- Q1 2023 Q1 2022 +/- Q1 2023 Q1 2022 +/- Incoming orders 18,918 20,988 -10% 26,094 31,676 -18% 15,913 29,863 -47% 7,694 13,067 -41% Trucks 17,771 19,323 -8% 17,721 22,488 -21% 12,468 26,101 -52%
Slide 26: Operations – Net cash flow and net liquidity/net financial debt
TRATON Operations – Net cash flow and net liquidity/ net financial debt Net cash flow Net cash flow (€ mn) Q1 21 Q2 21 Q3 21 Q4 21 FY 21 Q1 22 Q2 22 Q3 22 Q4 22 FY 22 Q1 23 TRATON Operations 753 188 -788 786 938 139 -1,534 61 709 -625 737 Net liquidity/net financial debt Net liquidity/net financial
Slide 27: Scania Vehicles & Services – Key figures
Scania Vehicles & Services – Key figures Incoming orders (k units) Unit sales (k units) Book-to-bill (ratio in units) -10% +36% -42 bp 1.26 23.5 26.8 21.0 18.2 19.3 18.9 20.2 21.6 22.6 0.90 0.90 0.88 0.84 16.6 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 22 22 22 22 23 23
Slide 28: MAN Truck & Bus – Key figures
MAN Truck & Bus – Key figures Incoming orders (k units) Unit sales (k units) Book-to-bill (ratio in units) -68 bp -18% +41% 1.64 1.62 31.7 34.1 27.9 26.1 28.7 27.3 1.03 0.97 0.95 16.1 19.3 15.5 21.0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 22 22 22 22 23 23 23 23 22 22
Slide 29: Navistar Sales & Services – Key figures
Navistar Sales & Services – Key figures Incoming orders (k units) Unit sales (k units) Book-to-bill (ratio in units) -104 bp -47% 1.75 +32% 29.9 1.02 1.04 20.6 23.5 17.1 20.3 22.6 22.0 22.5 0.71 15.9 0.55 12.1 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 22 22 22 22 23 23
Slide 30: Volkswagen Truck & Bus – Key figures
Volkswagen Truck & Bus – Key figures Incoming orders (k units) Unit sales (k units) Book-to-bill (ratio in units) -25 bp 41% -18% 1.37 0.89 1.01 1.03 13.1 13.8 15.2 14.9 14.7 13.7 14.8 0.63 7.7 10.9 12.1 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 22 22 22 22 23 23 23 23
Slide 31: GROUP – Bonds outstanding
TRATON GROUP – Bonds outstanding TRATON with well-tested access to the debt capital markets €6.0 bn in bonds outstanding per March 31, 2023 Note: As of 03-31-2023 05-02-2023 3M 2023 Interim Statement | Investor Relations 31 .
Slide 32: GROUP – Debt maturity profile
TRATON GROUP – Debt maturity profile Maturity profile (€ bn)1 Major financings Debt overview (€ bn) 9 • €700 mn Schuldschein TRATON financial debt 19.8 (tranches of 3y, 5y and 7y) thereof CI/OP 9.3 • Total of €6.0 bn bonds (tranches of 1.5y to 12y) thereof FS 10.5 • €4.5 bn syndicated RCF Leasing (I
Slide 33: Investor Relations Team
TRATON Investor Relations Team Lars Korinth Thomas Paschen Head of Investor Relations Analysts and Investors, Consensus, Private Investors +49 152 313 73 138 +49 170 907 34 94 lars.korinth@traton.com thomas.paschen@traton.com Marie Fischhaber Fabian Schimpf Annual General Meeting, Events Analysts an
Slide 34: Christian Levin, CEO | Dr. Michael Jackstein, CFO & CHRO
Christian Levin, CEO | Dr. Michael Jackstein , CFO & CHRO 3M 2023 Interim Statement, Munich, 02-05-2023 .