Mercedes-benz Group Ag · XETR:MBG
Mercedes-benz — Q3 2022 Earnings Presentation
25 slides from Mercedes-benz's earnings presentation, Oct 26, 2022
Slide 1: Capital Market Presentation Q3 2022
Willkommen | Welcome Capital Market Presentation Q3 2022 Mercedes-Benz Group AG Stuttgart, October 26, 2022
Slide 2: Review Q3 2022
Internal Review Q3 2022 2
Slide 3: Mercedes-Benz Group: Key figures
Internal Mercedes-Benz Group: Key figures* Revenue EBIT EBIT adj. Free Cash Flow (IB) Net Industrial Liquidity in billion euros in billion euros in billion euros in billion euros in billion euros +19% +11% +72% 37.7 +83% 23.3 5.3 5.2 21.0 31.6 0% 3.1 3.0 3.0 2.8 Q3 2021 Q3 2022 Q3 2021 Q3 2022 Q3 20
Slide 4: Mercedes-Benz Cars: Key messages
Internal Mercedes-Benz Cars: Key messages Products: Start of sales EQS SUV and GLC; World Premiere EQE SUV Profitability: Sustaining high margins with healthy mix and pricing Performance: Robust demand in volatile markets; demand exceeds constrained supply Partnerships: Signed MoU with government of
Slide 5: Mercedes-Benz Cars: Top-End Luxury and electric vehicle unit sales
Internal Mercedes-Benz Cars: Top-End Luxury and electric vehicle unit sales In thousand units +38% 530 +39% +5% 79 85 79* 75* G 383 9 9 5 Maybach Top-End 5 37 BEV 75 61 Luxury 293 36 AMG 19 31 Core 193 Luxury S EQS 48 PHEV 41 42 40 GLS Entry 158 115 EQS SUV*** Luxury** Q3 2021 Q3 2022 Q3 2021 Q3 202
Slide 6: Mercedes-Benz Cars: Financials
Internal Mercedes-Benz Cars: Financials Sales Revenue EBIT adj. CFBIT adj. in thousand units in billion euros in billion euros in billion euros +38% +26% 530.4 28.2 +106% 4.1 22.4 383.5 -2% 3.6 3.6 2.0 +3% 75.4* 73.4* Q3 2021 Q3 2022 Q3 2021 Q3 2022 Q3 2021 Q3 2022 Q3 2021 Q3 2022 * ASP in thousand
Slide 7: Mercedes-Benz Cars: Q3 2022 EBIT & RoS
Internal Mercedes-Benz Cars: Q3 2022 EBIT & RoS In million euros Gross Profit +2,071 2,950 102 478 4,081 4,034 -981 -47 -203 -28 -222 147 1,985 RoS: RoS: 1,838 14.5% 14.3% Significantly increased unit sales Strongly improved net pricing RoS: RoS: Higher at-equity contribution from BBAC 8.2% 8.8% Hig
Slide 8: Mercedes-Benz Cars: EBIT to CFBIT
Internal Mercedes-Benz Cars: EBIT to CFBIT In million euros 4,034 188 1,549 178 3,552 3,374 -402 -417 -1,578 CCR: CCR: 0.8 0.9 t/o • New vehicle stock - 2,128 t/o • Legal proceedings + 166 • Unfinished products + 734 • Result at-equity BBAC - 585 • Restructuring + 12 Net investments Depreciation and
Slide 9: Mercedes-Benz Vans: Key messages
Internal Mercedes-Benz Vans: Key messages Performance: Significantly increased unit sales despite semi-conductor shortages Profitability: Continuing strong margin with healthy mix and net pricing Market: Robust demand in key markets Partnerships: Signed MoU with Rivian for joint production and furth
Slide 10: Mercedes-Benz Vans: Financials
Internal Mercedes-Benz Vans: Financials Sales Revenue EBIT adj. CFBIT adj. in thousand units in billion euros in million euros in million euros +18% +22% 104.0 +5% 4.3 +189% 529 88.0 546 504 3.5 thereof 189 Q3 2021 Q3 2022 Q3 2021 Q3 2022 Q3 2021 Q3 2022 Q3 2021 Q3 2022 10
Slide 11: Mercedes-Benz Vans: Q3 2022 EBIT & RoS
Internal Mercedes-Benz Vans: Q3 2022 EBIT & RoS In million euros Gross Profit +258 35 584 85 546 497 51 -49 -361 -31 -5 RoS: RoS: 12.7% 24 189 11.5% 165 Significantly increased unit sales Strongly improved net pricing RoS: RoS: Positive impact from China business activities 4.7% • Restructuring + 2
Slide 12: Mercedes-Benz Vans: EBIT to CFBIT
Internal Mercedes-Benz Vans: EBIT to CFBIT In million euros 24 5 95 529 497 108 434 -63 -137 CCR CCR 1.0 0.9 t/o • New vehicle stock - 128 • Trade payables + 202 • Legal proceedings + 95 Net investments Depreciation and CFBIT EBIT Change in working Net financial CFBIT in pp&e and amortization/ Other
Slide 13: Mercedes-Benz Mobility: Key messages
Internal Mercedes-Benz Mobility: Key messages New business impacted by lower penetration Interest margin with headwinds from increasing interest rates Increase in credit risk reserves driven by weaker macroeconomic outlook Net credit losses at low level similar to 2021 Transfer of remaining Truck bu
Slide 14: Mercedes-Benz Mobility: Financials
Internal Mercedes-Benz Mobility: Financials New Business Contract Volume EBIT adj. in billion euros in billion euros in million euros +2% -3% 14.6 133.7 135.7 14.3 -39% 943 577 Q3 2021 Q3 2022 12/31/2021 09/30/2022 Q3 2021 Q3 2022 14
Slide 15: Mercedes-Benz Mobility: Q3 2022 EBIT & RoE
Internal Mercedes-Benz Mobility: Q3 2022 EBIT & RoE In million euros 49 943 0 943 -122 25 577 0 577 -237 -5 RoE: RoE: -76 23.3% 23.3% Favorable FX development RoE: RoE: Increase in credit risk reserves driven by weaker macroeconomic outlook 15.8% 15.8% Interest margin with headwinds due to increasin
Slide 16: Mercedes-Benz Group: Q3 2022 EBIT
Internal Mercedes-Benz Group: Q3 2022 EBIT* In million euros 357 2,096 148 5,344 5,196 -366 -148 271 3,109 2,838 • Legal proceedings + 74 • Restructuring + 101 • Legal proceedings - 97 • M&A transactions + 96 • M&A transactions - 51 EBIT EBIT EBIT Mercedes-Benz Mercedes-Benz Mercedes-Benz EBIT Adjus
Slide 17: Mercedes-Benz Group: Reconciliation from CFBIT to Free Cash Flow
Internal Mercedes-Benz Group: Reconciliation from CFBIT to Free Cash Flow In million euros 434 3,374 293 3,309 179 3,016 83 -875 -179 • Legal proceedings + 262 • Restructuring + 13 • M&A transactions + 18 Free cash flow Free cash flow Mercedes-Benz Mercedes-Benz Income taxes Effects from Other recon
Slide 18: Mercedes-Benz Group: Net Industrial Liquidity
Internal Mercedes-Benz Group: Net Industrial Liquidity In billion euros 1.7 1.2 23.3 3.2 0.2 -0.4 -1.7 19.1 Free cash flow industrial business Q3 2022: € 3.0 billion Additions to Net Industrial Earnings and Depreciation and Investments in Net Industrial Working capital property, plant, Liquidity oth
Slide 19: Outlook 2022
Internal Outlook 2022 19
Slide 20: Mercedes-Benz Divisional Guidance 2022
Internal Mercedes-Benz Divisional Guidance 2022 ASSUMPTION The macroeconomic and geopolitical conditions continue to be characterized by an exceptional degree of uncertainty. A key factor contributing to this is the war in Ukraine, with its effects on supply chains and on the availability and the de
Slide 21: Mercedes-Benz Group Guidance 2022
Internal Mercedes-Benz Group Guidance 2022 ASSUMPTION The macroeconomic and geopolitical conditions continue to be characterized by an exceptional degree of uncertainty. A key factor contributing to this is the war in Ukraine, with its effects on supply chains and on the availability and the develop
Slide 22: Strategic priorities for this year - progressing
Internal Strategic priorities for this year - progressing Scale Grow Accelerate Alleviate Focus electric luxury car supply relentlessly vehicles business software constraints on costs Fourth EVA2 vehicle in Advance in MB.OS and First direct sourcing Elevate portfolio Battling inflation launch ADAS d
Slide 23: Appendix
Internal Appendix 23
Slide 24: Mercedes-Benz Mobility: Net credit losses
Internal Mercedes-Benz Mobility: Net credit losses* in thousand units 0.89% 0.83% 0.68% 0.61% 0.50% 0.51% 0.43% 0.36% 0.37% 0.34% 0.33% 0.31% 0.31% 0.26% 0.26% 0.24% 0.21% 0.21% 0.18% 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 ytd 2022 * As percentage o
Slide 25: 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