Slide 1: Capital Market Presentation Q1 2020
DAIMLER AG DISCLOSURE Q1 2020 Capital Market Presentation Q1 2020 CAPITAL MARKET PRESENTATION April 29, 2020
Slide 2: Key Topics
DAIMLER Q1 2020 KEY TOPICS Q1 in line with our expectations Significant decline in all markets caused by COVID-19 pandemic Strict actions taken to safeguard employees Immediate measures taken to preserve cash and safeguard financial flexibility Shutdown of production in almost all plants with short-
Slide 3: Key Figures
DAIMLER Q1 2020 KEY FIGURES Unit sales Revenue EBIT EBIT adjusted in thousands of units in billions of euros in billions of euros in billions of euros 774 39.7 2.8 2.3 37.2 644 -17% -6% -78% -69% 0.7 0.6 Q1 2019 Q1 2020 Q1 2019 Q1 2020 Q1 2019 Q1 2020 Q1 2019 Q1 2020 Net profit Earnings per share Fr
Slide 4: Net Industrial Liquidity
DAIMLER Q1 2020 NET INDUSTRIAL LIQUIDITY in billions of euros Free cash flow industrial business Q1 2020: minus €2.3 billion 11.0 -1.7 -0.1 -0.1 -2.3 +0.6 9.3 +1.9 Net industrial Earnings and Working Investments in Additions to Depreciation and Other Net industrial liquidity other cash capital impac
Slide 5: Financial Flexibility Over a 12-Month Period
DAIMLER Q1 2020 FINANCIAL FLEXIBILITY OVER A 12-MONTH PERIOD in billions of euros 68 Credit facility of €12 billion as of April 1 56 Other, incl. 54 finance lease Net industrial liquidity at €9.3 billion continues to be at a Commercial comfortable level ABS paper potential Gross industrial liquidity
Slide 6: Mercedes-Benz Cars & Vans Key Topics Q1 2020
MERCEDES-BENZ CARS & VANS KEY TOPICS Q1 2020 Start into the year 2020 was very encouraging before demand dropped due to COVID-19 pandemic Encouraging sales development in March in China and South Korea Our attractive products are in strong demand, especially GLE and GLS Focus on xEV ramp-up Digital
Slide 7: Mercedes-Benz Business Recovery in China
MERCEDES-BENZ BUSINESS RECOVERY IN CHINA Open MB dealerships Production volume in % in % vs. operational planning 99 100** 113 ** 74 74 29 0* Jan 20 Feb 20 Mar 20 Apr 20 Jan 20 Feb 20 Mar 20 Apr 20 Showroom traffic Unit sales in % vs. prior year in % vs. prior year ** 97 100 90 74 29 21 Jan 20 Feb 2
Slide 8: Mercedes-Benz Cars & Vans Key Figures
MERCEDES-BENZ CARS & VANS KEY FIGURES Unit sales Revenue EBIT adjusted CFBIT in thousands of units in billions of euros in millions of euros in millions of euros 652 24.1 23.2 1,372 547 -16% -4% -56% 603 -835 -1,729 Q1 2019 Q1 2020 Q1 2019 Q1 2020 Q1 2019 Q1 2020 Q1 2019 Q1 2020 Daimler AG Capital M
Slide 9: Mercedes-Benz Cars & Vans EBIT and RoS
MERCEDES-BENZ CARS & VANS EBIT AND ROS Favorable model mix Contribution of the smart brand into smart Automobile Co., Ltd. in millions of euros Charges related to product portfolio review in Q1 2019 Valuation effects due to interest increases Lower unit sales Gross profit -962 Expenses for enhanced
Slide 10: Reconciliation from EBIT to CFBIT Q1 2020
MERCEDES-BENZ CARS & VANS RECONCILIATION FROM EBIT TO CFBIT Q1 2020 in millions of euros +128 -118 510 -2,113 +1,614 -1,750 -1,281 -1,729 448 EBIT Change in Net financial Net investments Depreciation and Other CFBIT Adjustments CFBIT Q1 2020 working capital investments in pp&e and amortization/ Q1 2
Slide 11: Trucks & Buses Key Topics Q1 2020
DAIMLER TRUCKS & BUSES KEY TOPICS Q1 2020 Headwinds in all major markets, with expected market declines in North America and Europe Progressive implementation of the announced restructuring measures Immediate and consistent COVID-19 crisis management with a production ramp-up since April 21 Signed a
Slide 12: Trucks & Buses Key Figures
DAIMLER TRUCKS & BUSES KEY FIGURES Incoming orders* Unit sales Revenue EBIT adjusted CFBIT in thousands of units in thousands of units in billions of euros in millions of euros in millions of euros 110 121 10.2 553 93 98 8.7 -85 -15% -20% -14% -55% 247 -232 Q1 2019 Q1 2020 Q1 2019 Q1 2020 Q1 2019 Q1
Slide 13: Trucks & Buses EBIT and RoS
DAIMLER TRUCKS & BUSES EBIT AND ROS Cost improvements in all functional areas partly related to COVID-19 pandemic Lower material costs partly related to raw material in millions of euros Positive valuation effects, e.g. changes in discount rates Significantly lower unit sales, esp. in North America
Slide 14: Trucks & Buses Reconciliation from EBIT to CFBIT
DAIMLER TRUCKS & BUSES RECONCILIATION FROM EBIT TO CFBIT Q1 2020 in millions of euros 247 -129 +333 -341 -9 -186 -85 EBIT Change in Net financial Net investments Depreciation and Other CFBIT Q1 2020 working capital investments in pp&e and amortization/ Q1 2020 intangible assets impairments Daimler A
Slide 15: Mobility Key Topics Q1 2020
DAIMLER MOBILITY KEY TOPICS Q1 2020 Decrease in new business due to COVID-19 pandemic Q1 EBIT positive despite significant increase of credit risk provisions in anticipation of economic downturn with rising delinquencies Immediate measures implemented to react to the effects of the crisis, including
Slide 16: Mobility Key Figures
DAIMLER MOBILITY KEY FIGURES New business Contract volume EBIT adjusted in billions of euros in billions of euros in millions of euros 17.3 162.8 159.6 491 16.2 -7% -2% -88% 58 Q1 2019 Q1 2020 12/31/2019 3/31/2020 Q1 2019 Q1 2020 Daimler AG Capital Market Presentation Q1 2020 / April 29, 2020 / Page
Slide 17: Mobility EBIT and ROE
DAIMLER MOBILITY EBIT AND ROE in millions of euros Implemented cost-saving measures Consideration of worsening macroeconomic outlook results in higher cost of credit risk Merger of mobility services of Daimler and BMW in Q1 2019 1,209 -718 RoE: 35.7% Gross profit -449 491 +2 -448 RoE: 14.5% RoE: 1.6
Slide 18: Group EBIT
DAIMLER Q1 2020 GROUP EBIT in millions of euros 2,798 -488 2,310 -769 • M&A -718 • Legal proceedings +123 • Restructuring measures +107 -306 -433 -83 719 -102 617 • Legal proceedings -102 EBIT Adjustments EBIT Mercedes-Benz Daimler Daimler Reconciliation EBIT Adjustments EBIT Q1 2019 adjusted Cars &
Slide 19: Reconciliation from CFBIT to Free Cash Flow
DAIMLER Q1 2020 RECONCILIATION FROM CFBIT TO FREE CASH FLOW in millions of euros -1,729 -85 -1,862 -431 +16 -87 -2,316 454 CFBIT CFBIT Income Interest Other Free cash flow Adjustments Free cash flow Mercedes-Benz Daimler taxes paid paid reconciling (IB) (IB) Cars & Vans Trucks & Buses items adjusted
Slide 20: 2020 Outlook: Assumptions for Automotive Markets
2020 OUTLOOK ASSUMPTIONS FOR AUTOMOTIVE MARKETS CAR MARKETS Global significant decrease Europe significant decrease USA significant decrease China significant decrease VAN MARKETS EU30 significant decrease USA significant decrease HEAVY-DUTY North America significant decrease TRUCK MARKETS EU30 sign
Slide 21: 2020 Outlook Guidance
2020 OUTLOOK GUIDANCE GROUP SALES Daimler Group Below the prior-year level REVENUE Daimler Group Below the prior-year level EBIT Daimler Group Below the prior-year level FREE CASH FLOW Industrial business Below the prior-year level INVESTMENT IN PP&E Daimler Group Below the prior-year level R&D EXPE
Slide 22: Looking Forward
DAIMLER Q1 2020 LOOKING FORWARD Comprehensive set of countermeasures implemented to counteract top-line decline Ready to ramp-up and capture opportunities Fully committed to CO2 plans and electrification plans Fully committed to transformation plans Daimler AG Capital Market Presentation Q1 2020 / A
Slide 23: Additional Financial Details
ADDITIONAL FINANCIAL DETAILS Daimler AG Capital Market Presentation Q1 2020 / April 29, 2020 / Page 23
Slide 24: Revenue by Divisions
DAIMLER Q1 2020 REVENUE BY DIVISIONS in billions of euros Q1 2019 Q1 2020 % change Daimler Group 39.7 37.2 -6 of which Mercedes-Benz Cars & Vans 24.1 23.2 -4 Daimler Trucks & Buses 10.2 8.7 --14 Daimler Mobility 6.9 7.1 +3 Daimler AG Capital Market Presentation Q1 2020 / April 29, 2020 / Page 24
Slide 25: Revenue by Regions
DAIMLER Q1 2020 REVENUE BY REGIONS in billions of euros Q1 2019 Q1 2020 % change Daimler Group 39.7 37.2 -6 of which Europe 16.6 15.3 -8 of which Germany 6.4 5.9 -7 North America 11.6 11.1 -4 of which United States 10.1 9.9 -3 Asia 9.0 8.6 -4 of which China* 4.4 3.8 -13 Other markets 2.5 2.1 -15 * e
Slide 26: EBIT by Divisions
DAIMLER Q1 2020 EBIT BY DIVISIONS EBIT in millions of euros; RoS/RoE in % Q1 2019 Q1 2020 EBIT RoS/RoE* EBIT RoS/RoE* Daimler Group 2,798 4.8 617 1.9 of which Mercedes-Benz Cars & Vans 1,143 4.8 510 2.2 Daimler Trucks & Buses 553 5.4 247 2.8 Daimler Mobility 1,209 35.7 58 1.6 Reconciliation -107 – -
Slide 27: Adjustments Affecting EBIT
DAIMLER Q1 2020 ADJUSTMENTS AFFECTING EBIT in millions of euros Mercedes-Benz Cars & Vans Q1 2019 Q1 2020 Legal proceedings and related measures 122 93 Restructuring measures 107 – Daimler Mobility M&A transactions -718 – Reconciliation Legal proceedings and related measures 1 9 Daimler AG Capital M
Slide 28: EBIT Adjusted by Divisions
DAIMLER Q1 2020 EBIT ADJUSTED BY DIVISIONS EBIT adjusted in millions of euros; RoS/RoE adjusted in % Q1 2019 Q1 2020 EBIT RoS/RoE EBIT RoS/RoE adjusted adjusted* adjusted adjusted* Daimler Group 2,310 5.5 719 2.2 of which Mercedes-Benz Cars & Vans 1,372 5.7 603 2.6 Daimler Trucks & Buses 553 5.4 247
Slide 29: Consolidated Statement of Income (Condensed)
DAIMLER Q1 2020 CONSOLIDATED STATEMENT OF INCOME (CONDENSED) in millions of euros Daimler Group Industrial Business Daimler Mobility Q1 2019 Q1 2020 Q1 2019 Q1 2020 Q1 2019 Q1 2020 Revenue 39,698 37,223 32,817 30,122 6,881 7,101 Cost of sales -32,127 -31,512 -26,150 -24,869 -5,977 -6,643 Gross profi
Slide 30: EBIT of the Industrial Business
DAIMLER Q1 2020 EBIT OF THE INDUSTRIAL BUSINESS in millions of euros Mercedes-Benz Daimler Reconciliation Cars & Vans Trucks & Buses Q1 2019 Q1 2020 Q1 2019 Q1 2020 Q1 2019 Q1 2020 Revenue 24,063 23,196 10,174 8,744 -1,420 -1,818 Cost of sales -19,214 -19,276 -8,268 -7,325 1,332 1,732 Gross profit 4
Slide 31: Statement of Cash Flows (Condensed)
DAIMLER Q1 2020 STATEMENT OF CASH FLOWS (CONDENSED) in millions of euros Daimler Group Industrial Business Q1 2019 Q1 2020 Q1 2019 Q1 2020 Cash provided by operating activities 620 1,510 860 221 of which: Profit before income taxes 2,623 690 1,416 635 Depreciation and amortization/impairments 1,801
Slide 32: Reconciliation to CFBIT Adjusted
DAIMLER Q1 2020 RECONCILIATION TO CFBIT ADJUSTED in millions of euros Mercedes-Benz Cars & Vans Daimler Trucks & Buses Q1 2019 Q1 2020 Q1 2019 Q1 2020 CFBIT -835 -1,729 -232 -85 Legal proceedings and related measures 79 147 – – Restructuring measures – 301 – – M&A transactions – – – – CFBIT adjusted
Slide 33: Key Balance Sheet and Financial Figures
DAIMLER Q1 2020 KEY BALANCE SHEET AND FINANCIAL FIGURES Daimler Group Dec. 31, 2019 March 31, 2020 Equity ratio 20.8% 20.9% Gross liquidity 27.5 24.1 Funded status of pension obligations -8.4 -7.5 Funding ratio 77% 77% Industrial business Equity ratio 37.5% 37.4% Net liquidity 11.0 9.3 Free cash flo
Slide 34: Statement of Financial Position (Condensed)
DAIMLER Q1 2020 STATEMENT OF FINANCIAL POSITION (CONDENSED) in millions of euros Daimler Group Industrial Business Dec. 31, 2019 March 31, 2020 Dec. 31, 2019 March 31, 2020 Intangible assets 15,978 16,306 15,077 15,409 Property, plant and equipment 37,143 36,905 36,782 36,563 Receivables from financ
Slide 35: Development of Gross Industrial Liquidity
DAIMLER Q1 2020 DEVELOPMENT OF GROSS INDUSTRIAL LIQUIDITY in billions of euros Financial Services Industrial Business 27.6 -2.3 +1.3 -1.9 +3.3 -5.8 3.9 -1.5 +3.2 +0.3 24.1 3.2 23.7 20.8 Gross Free cash flow Free cash flow Other debt ABS New ABS Bond New bonds FX and Gross liquidity industrial Daimle
Slide 36: Additional Divisional Details
ADDITIONAL DIVISIONAL DETAILS Daimler AG Capital Market Presentation Q1 2020 / April 29, 2020 / Page 36
Slide 37: Mercedes-Benz Cars & Vans Net Assets
MERCEDES-BENZ CARS & VANS NET ASSETS in millions of euros Dec. 31, 2019 March 31, 2020 Intangible assets 13,234 13,607 Property, plant and equipment 27,933 27,837 Inventories 20,959 22,958 Trade receivables 7,556 6,165 Other segment assets 24,808 24,930 Segment assets 94,490 95,497 Trade payables 9,
Slide 38: Daimler Trucks & Buses Net Assets
DAIMLER TRUCKS & BUSES NET ASSETS in millions of euros Dec. 31, 2019 March 31, 2020 Intangible assets 1,828 1,788 Property, plant and equipment 8,569 8,433 Inventories 7,615 8,136 Trade receivables 3,469 3,117 Other segment assets 6,497 6,180 Segment assets 27,978 27,654 Trade payables 2,847 3,319 O
Slide 39: Unit Sales
DAIMLER Q1 2020 UNIT SALES in thousands of units Q1 2019 Q1 2020 % change Daimler Group 773.8 644.3 -17 of which Mercedes-Benz Cars 555.3 470.6 -15 Mercedes-Benz Vans 97.0 76.2 -22 Daimler Trucks 115.9 92.5 -20 Daimler Buses 5.5 5.1 -8 Daimler AG Capital Market Presentation Q1 2020 / April 29, 2020
Slide 40: Mercedes-Benz Cars Unit Sales by Segments
MERCEDES-BENZ CARS UNIT SALES BY SEGMENTS in thousands of units 555 30 6 471 66 smart Sports Cars 179 182 SUVs 17 104 12 S-Class 77 E-Class 111 72 C-Class 109 115 A-/B-Class Q1 2019 Q1 2020 Daimler AG Capital Market Presentation Q1 2020 / April 29, 2020 / Page 40
Slide 41: Mercedes-Benz Cars Unit Sales by Regions
MERCEDES-BENZ CARS UNIT SALES BY REGIONS in thousands of units 555 83 471 81 Rest of world 157 128 Europe 78 (excl. Germany) 61 Germany 64 69 United States 173 132 China Q1 2019 Q1 2020 Daimler AG Capital Market Presentation Q1 2020 / April 29, 2020 / Page 41
Slide 42: Mercedes-Benz Cars Unit Sales in China
MERCEDES-BENZ CARS UNIT SALES IN CHINA in thousands of units imported locally produced 678 694 619 127 193 488 196 400 171 150 567 485 423 317 132 250 22 110 2015 2016 2017 2018 2019 2020 YTD 03 Daimler AG Capital Market Presentation Q1 2020 / April 29, 2020 / Page 42
Slide 43: Mercedes-Benz Vans Unit Sales by Segments
MERCEDES-BENZ VANS UNIT SALES BY SEGMENTS in thousands of units 97.0 76.2 49.4 39.2 Sprinter 24.8 19.9 Vito 13.6 11.9 V-Class 3.7 2.2 X-Class 5.5 2.9 Citan Q1 2019 Q1 2020 Daimler AG Capital Market Presentation Q1 2020 / April 29, 2020 / Page 43
Slide 44: Daimler Trucks Incoming Orders
DAIMLER TRUCKS INCOMING ORDERS* in thousands of units 101 6 86 7 Rest of world 39 24 Asia 9 6 Latin America 27 33 North America 20 16 EU30** Q1 2019 Q1 2020 * Net order intake, adjusted for cancellations ** European Union, United Kingdom, Switzerland and Norway Daimler AG Capital Market Presentation
Slide 45: Daimler Trucks Unit Sales by Regions
DAIMLER TRUCKS UNIT SALES BY REGIONS in thousands of units 116 6 92 34 5 Rest of world 9 31 Asia 7 Latin America 48 (excl. Mexico) 36 North America 19 13 EU30* Q1 2019 Q1 2020 * European Union, United Kingdom, Switzerland and Norway Daimler AG Capital Market Presentation Q1 2020 / April 29, 2020 / P
Slide 46: Daimler Buses Unit Sales by Regions
DAIMLER BUSES UNIT SALES BY REGIONS in thousands of units 5.5 5.1 1.1 1.0 Rest of world 0.9 0.5 Latin America (excl. Brazil and Mexico) 2.2 1.9 Brazil 0.4 Mexico 0.4 0.9 1.3 EU30* Q1 2019 Q1 2020 * European Union, United Kingdom, Switzerland and Norway Daimler AG Capital Market Presentation Q1 2020
Slide 47: Daimler Mobility Contract Volume
DAIMLER MOBILITY CONTRACT VOLUME in billions of euros 162.8 159.6 36.0 34.4 Africa & Asia-Pacific 59.6 59.4 Americas 41.3 39.7 Europe (excl. Germany) 25.9 26.0 Germany 12/31/2019 3/31/2020 Daimler AG Capital Market Presentation Q1 2020 / April 29, 2020 / Page 47
Slide 48: Daimler Mobility Net Credit Losses
DAIMLER MOBILITY NET CREDIT LOSSES* 0.89% 0.83% 0.68% 0.61% 0.50% 0.51% 0.36% 0.43% 0.37% 0.34% 0.31% 0.31% 0.31% 0.24% 0.26% 0.26% 0.21% 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 YTD * as a percentage of portfolio, subject to credit risk Daimler AG Capital
Slide 49: Daimler Mobility Your Now Joint Ventures
DAIMLER MOBILITY YOUR NOW JOINT VENTURES 1. FREE NOW & REACH NOW 2. SHARE NOW 3. PARK NOW & CHARGE NOW 03/2020 YTD Interactions in millions 148 77.6 7.1 5.6 57.2* 0.14 Customers** in millions 98.0 45.4 10.0 2.7 39.8* 0.06 Cities** >1,000 151 19 16 >1,000* n/a GMV RR in bn € n/a*** * For U.S. entity
Slide 50: Disclaimer
DAIMLER Q1 2020 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 identif