Mercedes-benz Group Ag · XETR:MBG
Mercedes-benz — Investor Day (2022)
15 slides from Mercedes-benz's investor day presentation, 2022
Slide 1: Monetising Desire
Internal MONETISING DESIRE Repositioning Mercedes-Benz for structurally higher profitability Chief Financial Officer Mercedes-Benz
Slide 2: Forward-looking statements
Internal The following presentation contains forward-looking statements that reflect management's current views with respect to future events. Such statements are subject to many risks and uncertainties. If the assumptions underlying any of these statements prove incorrect, then actual results may b
Slide 3: Strategy execution at work
Internal Strategy execution at work Think
Slide 4: Strongly improved financials driven by strategy execution
Internal Strongly improved financials driven by strategy execution Our progress and track record 2019 2020 2021 Q1/22 Sales in k units 2,278 2,052 1,906 ASP in k € 51.0 55.7 67.1 71.5 Mix Fixed Cost vs. 2019 -14% -16% Investments vs. 2019 -12% -16% RoS adj. 6.2% 6.9% 13.1% 16.4% EBIT adj. € 5.9bn €
Slide 5: Our game plan: generate returns consistent with our luxury status
Internal 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 pro
Slide 6: The power of pricing is part of our strategy
Internal 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 gri
Slide 7: Reshaped model portfolio will drive profitable sales growth
Internal 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
Slide 8: Entry Luxury – our plan
Internal Entry Luxury – our plan - 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 generation around +20% significantly up of vehicles
Slide 9: Core Luxury – our plan
Internal Core Luxury – our plan - Core Luxury going electric on an accelerated timescale, leveraging EVA (EQE, 1.350k 1.030k EQE-SUV) and then MB.EA architectures - Very attractive C-Class in the market flat GLC to launch end of 2022 Brand new E-Class in 2023 - Protect healthy margins on the way to
Slide 10: Top-End Luxury – our plan
Internal Top-End Luxury – our plan - Starting point: Over 300k top-end luxury units with ASP of > € 100k and top-end 250k 305k profitability - Sustainable segment growth +60% - Desirable products fueling growth: EQS, EQS-SUV, EQS-SUV Maybach, SL, GT, AMG-EA around +15% regular price adjustments - Ul
Slide 11: Changing our economic equation
Internal 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
Slide 12: Our financial ambitions for Mercedes-Benz Cars in 2025
Internal 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.
Slide 13: Cash culture at work
Internal Cash culture at work around € 20bn Q1 2022 over € 11bn 2021 2021 65% Daimler + Q1 2022 Truck Spin-Off 2021 2020 2020 2019 2019
Slide 14: Unleash Value
Internal Unleash Value 6.9% 13.1% 16.4% 44bn 67bn 72bn New Weather Chart (from 2025) 9.1x 6.6x 6.1x * Full year average values for 2020 and 2021 ** P/E 12M forward multiple, periodic averages
Slide 15: Disclaimer
Internal 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 forwa