Mercedes-benz Group Ag · XETR:MBG
Mercedes-benz — Daimler — Non-Deal Roadshow (2021)
68 slides from Mercedes-benz's roadshow presentation, 2021
Slide 1: Roadshow Presentation Q1 2021
Roadshow Presentation Q1 2021 Daimler AG Daimler AG Roadshow Presentation | Q1 2021 1
Slide 2: Agenda
AGENDA I. RESULTS Q1 2021 II. OUTLOOK FY 2021 III. STRATEGY 1. DAIMLER GROUP 2. MERCEDES-BENZ CARS & VANS 3. DAIMLER TRUCKS & BUSES 4. DAIMLER MOBILITY Daimler AG Roadshow Presentation | Q1 2021 2
Slide 3: Daimler: Key messages
Daimler: Key messages ▸ Q1 margin at Mercedes-Benz Cars & Vans demonstrates strength of portfolio and ability to lower break-even point ▸ Excellent Net Industrial Liquidity & effective Working Capital management ▸ Project Focus: spin-off and listing of Daimler Truck in preparation ▸ World premieres
Slide 4: Daimler: Key figures
Daimler: Key figures Free Cash Net Industrial Sales Revenue EBIT EBIT adj. in thousand units in billion euros in billion euros in billion euros Flow (IB) Liquidity in billion euros in billion euros 729 41.0 20.1 644 5.7 37.2 1.8 5.0 +13% +10% +832% +591% +4.1 9.3 117% 0.6 0.7 -2.3 Q1 2020 Q1 2021 Q1
Slide 5: Mercedes-Benz Cars: Highlights
Mercedes-Benz Cars: Highlights ▸ Positive trend from H2 2020 continued ▸ Favourable sales momentum with record sales in China ▸ Fascinating products and favourable mix drive pricing ▸ Global EV share of Mercedes-Benz Cars at about 10%, in Europe above 25% ▸ Improved industrial performance; significa
Slide 6: Mercedes-Benz Cars: Business recovery in all core regions
Mercedes-Benz Cars: Business recovery in all core regions Group sales of Mercedes-Benz passenger cars per month in thousand units China Europe United States 80 90 40 70 80 35 60 70 30 60 50 25 50 40 20 40 30 15 30 20 20 10 10 10 5 0 0 0 Jan 20 Mar 21 Jan 20 Mar 21 Jan 20 Mar 21 Daimler AG Roadshow P
Slide 7: Mercedes-Benz Cars: Fascinating products and a favourable mix
Mercedes-Benz Cars: Fascinating products and a favourable mix in thousand units BY REGIONS BY SEGMENT 539 539 10 smart 471 76 Rest of world 471 3 Sports Cars 6 81 6 Europe 126 257 excl. Germany 182 SUVs 128 56 Germany 12 16 S-Class 61 73 United States 77 88 E-Class 69 72 73 C-Class 208 China 132 115
Slide 8: Mercedes-Benz Vans: Highlights
Mercedes-Benz Vans: Highlights ▸ Volume growth with strong profitability underpinned by low cost base ▸ Strong sales performance with best first quarter in the US and in China ▸ Group Sales of electric vans quadrupled compared to Q1 2020 ▸ Next generation eSprinter will be produced close to market i
Slide 9: Cars & Vans financials: CFBIT adj. turned positive
Mercedes-Benz Cars & Vans financials: CFBIT adj. turned positive, demonstrating focus on cash flow Sales Revenue EBIT adj. CFBIT adj. in thousand units in billion euros in billion euros in billion euros 26.9 627 3.8 23.2 547 3.1 +15% +16% +537% +4.4 0.6 -1.3 Q1 2020 Q1 2021 Q1 2020 Q1 2021 Q1 2020 Q
Slide 10: Cars & Vans EBIT & RoS
Mercedes-Benz Cars & Vans EBIT & RoS: Favourable sales momentum translated in a significant increase in volume, structure and pricing Higher unit sales (mainly in China), favourable mix Favourable net pricing in million euros Improved industrial performance; significant fixed cost reduction Higher a
Slide 11: Daimler Trucks & Buses: Highlights
MD Daimler Trucks & Buses: Highlights ▸ Increase in truck sales, mainly in Europe and North America due to improved market conditions and SoM gains ▸ Incoming truck orders in all regions significantly above prior-year’s quarter ▸ Further reduction of used vehicles stocks and favourable net pricing ▸
Slide 12: Trucks & Buses: Business development back on pre-covid levels
Daimler Trucks & Buses: Business development in key regions back on pre-covid levels Group sales of Daimler Trucks per month in thousand units Incoming Orders per quarter 30 EU30 60 North America Asia 25 25 50 20 40 20 15 30 15 10 20 10 5 10 5 0 0 0 Jan 20 Mar 21 Jan 20 Mar 21 Jan 20 Mar 21 Daimler
Slide 13: Trucks: Sales growth in Europe and North America
Daimler Trucks: Sales growth in Europe and North America and significantly improved incoming orders in thousand units UNIT SALES INCOMING ORDERS** 146 98 14 Rest of world 92 9 Rest of world 5 36 Asia 26 Asia 86 31 11 Latin America 7 11 Latin America 7 24 54 6 North America 36 37 North America 33 31
Slide 14: Trucks & Buses Financials: Strong improvement of EBIT adj. and CFBIT adj.
Daimler Trucks & Buses Financials: Strong improvement of EBIT adj. and CFBIT adj. Sales Revenue EBIT adj. CFBIT adj. in thousand units in billion euros in million euros in million euros 101 8.7 8.7 98 518 435 +4% -1% 247 +110% +520 -85 Q1 2020 Q1 2021 Q1 2020 Q1 2021 Q1 2020 Q1 2021 Q1 2020 Q1 2021
Slide 15: Trucks & Buses EBIT & RoS
Daimler Trucks & Buses EBIT & RoS: Positive volume, structure and net pricing Higher truck unit sales mainly in EU30 and North America Positive contribution from used vehicle business and favourable development of net pricing Higher costs, mainly related to raw material, supply chain constraints and
Slide 16: Mobility: Highlights
Daimler Mobility: Highlights ▸ Strong loyalty and retention driving new business above Q1 2020, especially in China ▸ Stable credit reserve level with continuously low net credit losses ▸ Further improvements at mobility services: ▸ Ongoing optimization of its holdings ▸ PARK NOW - Announcement of i
Slide 17: Mobility Financials: Significant increase in EBIT adj.
Daimler Mobility Financials: Significant increase in EBIT adj. New Contract EBIT adj. business volume in million euros in billion euros in billion euros 16.2 16.8 150.6 152.7 691 +4% +1% +633 58 Q1 2020 Q1 2021 12/31/2020 3/31/2021 Q1 2020 Q1 2021 For more details on financials please see Daimler Ca
Slide 18: Mobility: Continuously low net credit losses
Daimler Mobility: Continuously low 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% 0,33% 0.31% 0.24% 0.26% 0.26% 0.21% 0.22% 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 YTD 03 * as a percentage of portfolio, subject t
Slide 19: Mobility EBIT & RoE
Daimler Mobility EBIT & RoE: Main impact from lower credit risk provisions and higher interest margins Lower addition to credit risk reserve Favourable margin development in million euros OPEX improvement Gross profit* 638 +53 744 +102 +3 +25 0 691 +536 RoE: RoE: RoE: • Restructuring RoE: 1.6% 1.6%
Slide 20: Agenda
OK AGENDA I. RESULTS Q1 2021 II. OUTLOOK FY 2021 III. STRATEGY 1. DAIMLER GROUP 2. MERCEDES-BENZ CARS & VANS 3. DAIMLER TRUCKS & BUSES 4. DAIMLER MOBILITY Roadshow Presentation | Q1 2021 20
Slide 21: Performance: Market Guidance 2021
Performance: Market Guidance 2021 ASSUMPTION Our expectations for the development of business in 2021 are based on the assumption of a gradual normalization of economic conditions in the markets that are important to us. In particular, we assume that the world economy will be able to recover from th
Slide 22: Performance: Daimler Group Guidance 2021
Performance: Daimler Group Guidance 2021 ASSUMPTION Our expectations for the development of business in 2021 are based on the assumption of a gradual normalization of economic conditions in the markets that are important to us. In particular, we assume that the world economy will be able to recover
Slide 23: Performance: Divisional Guidance 2021
Performance: Divisional Guidance 2021 ASSUMPTION Our expectations for the development of business in 2021 are based on the assumption of a gradual normalization of economic conditions in the markets that are important to us. In particular, we assume that the world economy will be able to recover fro
Slide 24: Strategic priorities in 2021
Strategic priorities in 2021 Raising Accelerating Preparing Performance Technology Project Focus MBC&V RoS Q1 14.3% FYe 10-12% World Premiers of Capital Market Update Daimler DT&B RoS Q1 6.0% FYe 6-7% EQS, EQB, EQA Truck on May 20 DMO RoE Q1 18.7% FYe 14-15% Daimler AG Roadshow Presentation | Q1 202
Slide 25: Agenda
OK AGENDA I. RESULTS FY 2020 II. OUTLOOK FY 2021 III. STRATEGY 1. DAIMLER GROUP 2. MERCEDES-BENZ CARS & VANS 3. DAIMLER TRUCKS & BUSES 4. DAIMLER MOBILITY Roadshow Presentation | Q1 2021 25
Slide 26: Sustainability - integral part of divisional business strategies
Daimler Group SUSTAINABILITY - integral part of divisional business strategies We aim to achieve New vehicles in Europe, We intend to have CO2 neutrality Japan and North globally CO2-neutral • for our new passenger America are planned to locations and car fleet by be CO2 neutral in administration by
Slide 27: Sustainable value for all stakeholder groups
Daimler Group Sustainable value for all stakeholder groups Climate protection Resource Livable & air quality conservation cities Traffic safety Data responsibility Human rights Integrity People Partnerships Daimler AG Roadshow Presentation | Q1 2021 27
Slide 28: CO2 neutrality at Mercedes-Benz Cars
Daimler Group CO2 neutrality at Mercedes-Benz Cars 2039 2030 We aim to achieve CO2 neutrality for our new Our goal is to have plug-in 2025 hybrids or all-electric vehicles car and van fleet by 2039. account for more than 50 2022 Depending on how conditions develop, we at Mercedes-Benz percent of our
Slide 29: Daimler Trucks & Buses: Making CO2-neutral transport a reality
Daimler Group Daimler Trucks & Buses: Making CO2-neutral transport a reality 2050 2nd half of 2039 We intend to enable the 2022 2020s Daimler Truck AG has set itself use of CO2-neutral transportation on all the goal of offering only new We intend to offer series-produced vehicles that are CO2-neutra
Slide 30: Green Finance Framework is part of our sustainable business strategy
Daimler Group Green Finance Framework is part of our sustainable business strategy Project Management of Use of proceeds evaluation and Reporting External review proceeds selection Daimler’s green finance framework is developed to be in line with both the ICMA Green Bond Principles, as well as LMA a
Slide 31: Project Focus: two independent businesses with maximum focus
Daimler Group Project Focus: We want to create two independent businesses with maximum focus Today Tomorrow Schematic representation Daimler AG Roadshow Presentation | Q1 2021 31
Slide 32: Structure of the planned transaction
Daimler Group Structure of the planned transaction Separate listing of Daimler Truck Distribution of Daimler Truck shares held by Daimler to existing Daimler shareholders Majority in free-float, Daimler ceases control over DT but intends to retain a minority shareholding No additional investment nee
Slide 33: Project Focus: Mercedes-Benz, the pre-eminent luxury car business
Daimler Group Project Focus: Mercedes-Benz, the pre-eminent luxury car business Mercedes-Benz Leading Global “pure play” OEM with unique brand recognition automotive “Ambition 2039” amplifying clear commitment to Sustainability as strategic priority luxury brand Attractive captive financial services
Slide 34: Project Focus: Daimler Truck unlocking the full potential
Daimler Group Project Focus: Daimler Truck unlocking the full potential Daimler Truck Global Global market presence with market-leading brands in triad markets #1 Ready to seize opportunities in emerging markets CV player Leverage existing global platforms to turn scale into profit Lead in Powertrai
Slide 35: Daimler Truck AG majority spin-off: transaction structure and details
Daimler Group Daimler Truck AG majority spin-off: Intended transaction structure and details Transfer of the majority of Daimler Truck to Daimler shareholders True independent governance of Attractive financial profiles Prime listing for Daimler Truck Daimler Truck for both companies Daimler Truck A
Slide 36: The listing of Daimler Truck is planned to be complete by year-end 2021
Daimler Group The listing of Daimler Truck is planned to be complete by year-end 2021 Decision & Extraordinary Listing of Announcement of Shareholder Meeting Daimler Truck Project Focus planned targeted February 3, 2021 May 20, 2021 Fall 2021 End of 2021 Capital Market Update Daimler Truck Capital M
Slide 37: Agenda
OK AGENDA I. RESULTS FY 2020 II. OUTLOOK FY 2021 III. STRATEGY 1. DAIMLER GROUP 2. MERCEDES-BENZ CARS & VANS 3. DAIMLER TRUCKS & BUSES 4. DAIMLER MOBILITY Roadshow Presentation | Q1 2021 37
Slide 38: Strategy Mercedes-Benz Cars
Mercedes-Benz Cars & Vans Strategy Mercedes-Benz Cars Daimler AG Roadshow Presentation | Q1 2021 38
Slide 39: We will unlock the potential of our sub-brands
Mercedes-Benz Cars & Vans We will unlock the potential of our sub-brands Daimler AG Roadshow Presentation | Q1 2021 39
Slide 40: Strategic priority: Electrification of cars
Mercedes-Benz Cars & Vans Strategic priority: Electrification of cars Powertrain flexible architecture EQB EQC EQB EQA Dedicated large electric platform EQS EQE EQS-SUV EQE-SUV Dedicated compact & mid-size electric platform Daimler AG Roadshow Presentation | Q1 2021 40
Slide 41: Strategic priority: Electrification of cars
Mercedes-Benz Cars & Vans Strategic priority: Electrification of cars EQA: Already more than 20,000 orders for our compact EV with progressive design, extensive range and intuitive operation based on MBUX. EQB: Seven seater with a unique position among electric cars - compact on the outside, spaciou
Slide 42: Strategic priority: Electrification of cars
Mercedes-Benz Cars & Vans Strategic priority: Electrification of cars > 20 BEV < 25 PHEV > 10 BEV > 25 PHEV xEV share >50% Increase of with very high xEV models* > 5 BEV > 20 PHEV flexibility 2021 2025 2030 Combined electric consumption: *MB xEV models, incl. EQV and T-Class, w/o smart 15.7 kWh/100
Slide 43: Our path to higher EV profitability
Mercedes-Benz Cars & Vans Our path to higher EV profitability Costs of batteries coming down faster than originally expected Other measures (€/kWh) Significantly below €100/kWh system level by mid-decade (cell/module/system) Simplified Modular Strategy will drive economies of scale Partnerships and
Slide 44: Aiming to take the lead in EV
Mercedes-Benz Cars & Vans Aiming to take the lead in EV Quality & Luxury Sublime World class Exceptional digital craftsmanship refinement ride & drive safety experience …WITH A TRUE MERCEDES-BENZ LUXURY EXPERIENCE – THE COMBINATION OF AESTHETICS AND TECHNOLOGY Daimler AG Roadshow Presentation | Q1 2
Slide 45: Significant reduction of combustion engines
Mercedes-Benz Cars & Vans Significant reduction of combustion engines Reduced by -40% Reduced by -70% Reduction in variants of combustion engines 2020 2025 2030 Daimler AG Roadshow Presentation | Q1 2021 45
Slide 46: The next step: MMA compact & mid-size car electric platform
Mercedes-Benz Cars & Vans The next step: MMA compact & mid-size car electric platform Exceptional range Very competitive e-drivetrain costs Benchmark high Luxury: Aiming to power charging offer best noise and comfort in the industry Highly energy efficient drivetrain & vehicle State-of-the-art digit
Slide 47: Our own proprietary operating system
Mercedes-Benz Cars & Vans Our own proprietary operating system Compelling luxury experience Scalable, lower variable costs Speed of execution Lower complexity Higher customer loyalty Recurrent revenues … WILL DELIVER AN EXTRAORDINARY CUSTOMER EXPERIENCE Daimler AG Roadshow Presentation | Q1 2021 47
Slide 48: What exactly is MBOS?
Mercedes-Benz Cars & Vans What exactly is MBOS? And what will Mercedes-Benz develop? Vehicle software Cloud/ IoT Vehicle hardware Frontend Layer Sourced from suppliers 100% in-house 5 domains: but chipset specifications Applications Layer Drive train defined by Mercedes-Benz Mainly in-house* Autonom
Slide 49: MBUX Hyperscreen
Mercedes-Benz Cars & Vans MBUX Hyperscreen ▸ High-tech in a luxury shell: Biggest and most intelligent screen ever mounted in series-built Mercedes ▸ Mercedes-Benz will be personal assistant for driver and front passenger ▸ Learning Artificial Intelligence software: Operating concept, infotainment a
Slide 50: Strategy Mercedes-Benz Vans
Mercedes-Benz Cars & Vans Strategy Mercedes-Benz Vans in electric premium on customers and operating drive and digital segments profitable grow recurrent costs solutions growth revenues Daimler AG Roadshow Presentation | Q1 2021 50
Slide 51: Full range supplier in the commercial segment
Mercedes-Benz Cars & Vans Full range supplier in the commercial segment Daimler AG Roadshow Presentation | Q1 2021 51
Slide 52: Electrification of the vehicle fleet
Mercedes-Benz Cars & Vans Electrification of the vehicle fleet – for both private and commercial use EQV 300: combined electrical consumption: 26.4-26.3 kWh/100 km; combined CO2 emissions: 0 g/km. The electrical consumption was determined on the basis of Directive 692/2008/EC. Electrical consumption
Slide 53: The new Mercedes-Benz eSprinter
Mercedes-Benz Cars & Vans The new Mercedes-Benz eSprinter with electric versatility platform Daimler AG Roadshow Presentation | Q1 2021 53
Slide 54: Strategic priority: Electrifying MB Vans
Mercedes-Benz Cars & Vans Strategic priority: Electrifying MB Vans • We are fully committed and dedicated to electrification • Holistic Approach: From small over mid-size to large, we electrify every van segment EQV eCitan eVito Electric T-class eSprinter2.0 eSprinter 1. Generation electric vehicle
Slide 55: Our financial ambitions
Mercedes-Benz Cars & Vans Our financial ambitions Market environment/revenues Contribution margin Profitable growth Fixed costs > -20% vs. 2019 > -20% vs. 2019 > -20% vs. 2019 CAPEX and R&D (CF impact) > -20% vs. 2019 > -20% vs. 2019 > -20% vs. 2019 RoS MB AG Mid to high single digit High single dig
Slide 56: Agenda
OK AGENDA I. RESULTS Q1 2021 II. OUTLOOK FY 2021 III. STRATEGY 1. DAIMLER GROUP 2. MERCEDES-BENZ CARS & VANS 3. DAIMLER TRUCKS & BUSES 4. DAIMLER MOBILITY Roadshow Presentation | Q1 2021 56
Slide 57: Strategy Daimler Trucks & Buses
Daimler Trucks & Buses Strategy Daimler Trucks & Buses Daimler AG Roadshow Presentation | Q1 2021 57
Slide 58: Strategic priorities
Daimler Trucks & Buses Strategic priorities Product & portfolio • Increased focus on HD segment and increased commonization • Growing importance of connected trucks to provide real-time data and analytics to optimize customer operations Sustainability & CO2 • Battery-electric and fuel cell trucks, b
Slide 59: Mercedes-Benz Trucks in China for China
Daimler Trucks & Buses Mercedes-Benz Trucks in China for China Joint venture Beijing Foton Daimler Automotive Co., Ltd. (BFDA) to produce and distribute Mercedes-Benz trucks in China Based on Daimler Trucks platform strategy, new heavy-duty truck “Made in China, for China” Start of production planne
Slide 60: Electric trucks technology
Daimler Trucks & Buses Electric trucks technology ▸ Proving capabilities of electric trucks and buses in customers use: More than 10 million kilometres driven. ▸ Planned start of eActros series production this year, integration of electric trucks into existing production set-up. ▸ Testing Freightlin
Slide 61: Battery-electric and fuel-cell - the customer decides
Daimler Trucks & Buses Battery-electric and fuel-cell - the customer decides according to specific needs Battery-Electric Truck: Hydrogen Truck: - Lower Weight, - Heavy Weight, - Shorter Distances - Long Distance Daimler AG Roadshow Presentation | Q1 2021 61
Slide 62: Strategic Partnerships
Daimler Trucks & Buses Strategic Partnerships Daimler Truck AG and the Volvo Cummins Inc. to establish an engine plant Group complete creation of within the Mercedes-Benz Mannheim fuel-cell joint venture: cellcentric campus to localize medium-duty engines ▸ Volvo Group has acquired 50 percent of the
Slide 63: Autonomous
Daimler Trucks & Buses Autonomous DEVELOPMENT AND TESTING ON PUBLIC ROADS Daimler AG Roadshow Presentation | Q1 2021 63
Slide 64: Dual strategy: collaboration on chassis and digital products
Daimler Trucks & Buses As part of our dual strategy, we collaborate on the chassis and offer multiple digital products for our customers 3rd Party In-House Software: Trucks & Buses Hardware: Best in class L4 chassis Daimler AG Roadshow Presentation | Q1 2021 64
Slide 65: Agenda
OK AGENDA I. RESULTS FY 2020 II. OUTLOOK FY 2021 III. STRATEGY 1. DAIMLER GROUP 2. MERCEDES-BENZ CARS & VANS 3. DAIMLER TRUCKS & BUSES 4. DAIMLER MOBILITY Roadshow Presentation | Q1 2021 65
Slide 66: Strategy Daimler Mobility
Daimler Mobility Strategy Daimler Mobility Daimler AG Roadshow Presentation | Q1 2021 66
Slide 67: Daimler Mobility: Our Role
Daimler Mobility Our Role We create demand for vehicles and services. We promote and ensure customer loyalty. We contribute to Daimler’s financial success. We open up new opportunities through mobility services. WE MO>E YOU Daimler AG Roadshow Presentation | Q1 2021 67
Slide 68: Daimler Q1 2021 Disclaimer
DAIMLER Q1 2021 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