Mercedes-benz Group Ag · XETR:MBG
Mercedes-benz — Q3 2024 Earnings Presentation
24 slides from Mercedes-benz's earnings presentation, Oct 25, 2024
Slide 1: Capital Market Presentation Q3 2024
Capital Market Presentation Q3 2024 Mercedes-Benz Group AG Stuttgart, October 25, 2024
Slide 2: Mercedes-Benz Group: Key messages
Mercedes-Benz Group: Key messages Sales: Solid sales for Cars and Vans. Cars mix soft amidst subdued environment, particularly in China. Products: World premieres of the Mercedes-Maybach SL Monogram series and AMG GT special editions. VAN.EA prototypes on the roads. Profitability: Cars weak. Vans ve
Slide 3: Mercedes-Benz Group: Key figures
Mercedes-Benz Group: Key figures Revenue* EBIT Earnings per share Free Cash Flow (IB) Net Industrial Liquidity in billion euros in billion euros in euros in billion euros in billion euros +2% -7% -48% -48% -9% 37.0 4.8 3.44 2.3 2.4 31.7 34.5 28.7 2.5 1.81 Q3 2023 Q3 2024 Q3 2023 Q3 2024 Q3 2023 Q3 2
Slide 4: Mercedes-Benz Cars: Top-End and electric vehicle unit sales
Mercedes-Benz Cars: Top-End and electric vehicle unit sales In thousand units -1% 511 504 Top-End 70 62 -12% -15% 70* 102 10 62* 87 7 9 G 5 Maybach Core 290 301 62 30 43 BEV** 32 AMG thereof S 36 EQS 41 45 PHEV Entry ** 151 141 26 GLS EQS SUV Q3 2023 Q3 2024 Q3 2023 Q3 2024 Q3 2023 Q3 2024 Total MB
Slide 5: 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 -1% -6% -64% 510.6 503.6 27.1 3.4 25.6 +11% 2.4 2.2 1.2 74.6* -10% 66.8* Q3 2023 Q3 2024 Q3 2023 Q3 2024 Q3 2023 Q3 2024 Q3 2023 Q3 2024 * ASP in thousand euros excl
Slide 6: Mercedes-Benz Cars: EBIT & RoS
Mercedes-Benz Cars: EBIT & RoS In million euros Gross Profit -1,583 3,312 45 3,357 106 13 RoS: RoS: -29 -1,561 -35 12.2% 12.4% -159 Operational efficiencies in procurement and production 1,207 1,198 Unfavorable product- and market-mix -485 -9 Negative net pricing effect incl. support measures BEV st
Slide 7: Mercedes-Benz Cars: EBIT to CFBIT
Mercedes-Benz Cars: EBIT to CFBIT In million euros 1,047 2,412 25 2,437 117 436 1,488 1,198 CCR: CCR: 2.0 2.0 t/o • Inventories -283 t/o • Trade Payable +331 • Result at-Equity BBAC -313 • Legal proceedings 25 • Trade receivables +388 -1,874 Net investments Depreciation and CFBIT EBIT Change in work
Slide 8: Mercedes-Benz Vans: Electric vehicle unit sales
Mercedes-Benz Vans: Electric vehicle unit sales In thousand units -13% 105 -31% 6.3 91 4.4 thereof BEV thereof Q3 2023 Q3 2024 Q3 2023 Q3 2024 Total MB Vans Electric vehicles Share in % of volume 6% 5% 8
Slide 9: 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 -13% -6% -15% -11% 105.1 4.9 743 1,035 4.7 91.1 923 628 Q3 2023 Q3 2024 Q3 2023 Q3 2024 Q3 2023 Q3 2024 Q3 2023 Q3 2024 9
Slide 10: Mercedes-Benz Vans: EBIT & RoS
Mercedes-Benz Vans: EBIT & RoS In million euros Gross Profit -93 28 743 715 18 25 4 32 628 618 -90 -35 -69 -10 RoS: RoS: 14.5% 15.0% RoS: RoS: Healthy mix supported by improved product substance 13.5% 13.3% Reduced expenses for product related measures Lower unit sales Unfavorable FX development • L
Slide 11: Mercedes-Benz Vans: EBIT to CFBIT
Mercedes-Benz Vans: EBIT to CFBIT In million euros 505 31 131 893 30 923 -10 -382 618 CCR: CCR: 1.4 1.5 t/o • New vehicle stock +211 • Legal proceedings +30 • Trade payable +184 • Trade receivables +113 Net investments Depreciation and CFBIT EBIT Change in working Net financial CFBIT in pp&e and amo
Slide 12: Mercedes-Benz Mobility: Financials
Mercedes-Benz Mobility: Financials New Business Contract Volume EBIT adj. in billion euros in billion euros in million euros -6% -1% -21% 15.2 135.7 134.3 363 14.2 285 Q3 2023 Q3 2024 06/30/2024 09/30/2024 Q3 2023 Q3 2024 12
Slide 13: Mercedes-Benz Mobility: EBIT & RoE
Mercedes-Benz Mobility: EBIT & RoE In million euros 15 363 0 363 -4 29 285 0 285 9 25 -152 RoE: RoE: 10.4% 10.4% RoE: RoE: 8.9% 8.9% COCR and others driven by positive one-time effects Efficiency measures leading to cost improvements Interest margin impacted by interest rate development in competiti
Slide 14: Mercedes-Benz Group: EBIT
Mercedes-Benz Group: EBIT In million euros 4,842 73 4,915 2,537 2,517 -2,150 -115 -78 -35 -20 • Legal proceedings -20 • Legal proceedings +73 EBIT EBIT EBIT Mercedes-Benz Mercedes-Benz Mercedes-Benz EBIT Adjustments adjusted Reconciliation adjusted Adjustments Q3 2023 Cars Vans Mobility Q3 2024 Q3 2
Slide 15: Group: Reconciliation from CFBIT to Free Cash Flow
Mercedes-Benz Group: Reconciliation from CFBIT to Free Cash Flow In million euros 893 2,412 65 2,394 56 2,450 46 -971 -51 • Legal proceedings +56 Free cash flow Other Free cash flow Mercedes-Benz Mercedes-Benz Income taxes Interest Effects from (industrial reconciling (industrial Adjustments Cars Va
Slide 16: Group: Net Industrial Liquidity
Mercedes-Benz Group: Net Industrial Liquidity In billion euros 1.6 1.0 0.1 1.9 28.0 28.7 -2.2 -1.2 -0.5 Free cash flow industrial business Q3 2024: € 2.4 billion Additions to Net Industrial Earnings and Depreciation and Investments in Net Industrial Working capital property, plant, Liquidity other c
Slide 17: Outlook 2024
Outlook 2024 17
Slide 18: Divisional Guidance 2024
Mercedes-Benz Divisional Guidance 2024 ASSUMPTION The assumptions regarding the economic situation and the development of automotive markets continue to be characterized by a degree of uncertainty. In addition to unexpected macroeconomic developments, uncertainties for the global economy and the bus
Slide 19: Group Guidance 2024
Mercedes-Benz Group Guidance 2024 ASSUMPTION The assumptions regarding the economic situation and the development of automotive markets continue to be characterized by a degree of uncertainty. In addition to unexpected macroeconomic developments, uncertainties for the global economy and the business
Slide 20: Appendix
Appendix
Slide 21: Mobility: Net credit losses
Mercedes-Benz Mobility: Net credit losses* 0.89% 0.83% 0.43% 0.37% 0.34% 0.33% 0.40% 0.31% 0.31% 0.26% 0.26% 0.24% 0.21% 0.21% 0.29% 0.20% 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 YTD 2024 * As percentage of portfolio, subject to credit risk. 21
Slide 22: Group/Divisional Guidance Ranges
Mercedes-Benz Group/Divisional Guidance Ranges* Specification/ Significantly Slightly below At prior-year Slightly above Significantly KPI below level above Revenue/ X < -7.5% -7.5% ≤ X < -2% -2% ≤ X ≤ +2% +2% < X ≤ +7.5% X > +7.5% Unit Sales EBIT (Group) X < -15% -15% ≤ X <-5% -5% ≤ X ≤ +5% +5% < X
Slide 23: Contacts – Investor Relations
Contacts – Investor Relations Visit our Investor Relations Website: Christian Keller Analysts, Defense and Equity Relations Email: christian.ck.keller@mercedes-benz.com Alexander Jasperneite Analysts, Creditor and Equity Relations Email: alexander.jasperneite@mercedes-benz.com Stephanie Dumke Capita
Slide 24: 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- looki