Mercedes-benz Group Ag · XETR:MBG
Mercedes-benz — Q4 2020 Earnings Presentation
32 slides from Mercedes-benz's earnings presentation, Feb 18, 2021
Slide 1: Annual Results Conference
Daimler Internal OK Foto wird ersetzt Annual Results Conference Febr uar y 18, 2020 Daimler AG
Slide 2: Daimler: Key messages
Daimler Internal Daimler: Key messages Financial targets achieved Restructuring measures increased Strategy in all divisions refocused Future corporate structure planned Significant earnings progress expected in 2021 Daimler AG 2
Slide 3: Daimler: Key figures
Daimler Internal Daimler: Key figures Free Cash Net Industrial Sales Revenue EBIT EBIT adj. in million units in billion euros in billion euros in billion euros Flow (IB) Liquidity in billion euros in billion euros 3.35 172.7 10.3 8.3 17.9 154.3 2.84 8.6 6.6 11.0 4.3 -15% -11% 53% -16% 504% 62% 1.4 2
Slide 4: Review 2020
Daimler Internal Review 2020 4
Slide 5: Mercedes-Benz Cars: Highlights
Daimler Internal Mercedes-Benz Cars: Highlights Mercedes-Benz: the world’s leading luxury car brand; new sales record in China Tripled worldwide xEV sales; met European CO2 targets for passenger cars in 2020; next steps towards “Ambition 2039” New Mercedes-Benz strategy targeting a leading position
Slide 6: Mercedes-Benz Cars: Business recovery
Daimler Internal Mercedes-Benz Cars: Business recovery Group sales of Mercedes-Benz passenger cars per month in thousand units 2019 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 Dec 20 Jan 20 Dec 20 Jan 20 Dec 20 6
Slide 7: Mercedes-Benz Cars: CO2 compliance Europe
Daimler Internal Mercedes-Benz Cars: CO2 compliance Europe Target: 137g NEDC WLTP2) Target: 125g3) WLTP Target: 107g NEDC1) 1) Incl. UK and Phase-In, Super Credits & Eco Innovation Credits 2) Excl. UK and Phase-In, Super Credits & Eco Innovation Credits 2019 2020 20212) 3) Target depends on fleet em
Slide 8: Mercedes-Benz Vans: Highlights
Daimler Internal Mercedes-Benz Vans: Highlights Financial turnaround achieved; significantly improved cost base Market leader in premium van, industry’s richest mix Strong H2 sales performance Market leader in Europe in electric mid-size and large van segments; Launched eSprinter and EQV, rolled-out
Slide 9: Mercedes-Benz Cars & Vans: Financials
Daimler Internal Mercedes-Benz Cars & Vans: Financials Sales Revenue EBIT adj. CFBIT adj. in million units in billion euros in billion euros in billion euros 2.82 106.9 7.9 98.6 6.8 2.46 6.2 -13% -8% 11% 308% 1.9 2019 2020 2019 2020 2019 2020 2019 2020 Daimler AG 9
Slide 10: Mercedes-Benz Cars & Vans: EBIT FY & RoS
Daimler Internal Mercedes-Benz Cars & Vans: EBIT FY & RoS Lower unit sales Favorable Net pricing in million euros Efficiency measures overcompensate expenses for enhanced vehicle equipment and higher level of depreciation Gross profit -1.700 Significant fixed cost reduction in all areas +381 +219 6,
Slide 11: Mercedes-Benz Cars & Vans: Indicators of change
Daimler Internal Mercedes-Benz Cars & Vans: Indicators of change Headcount Fixed Costs R&D Investment in pp&e In thousand employees In billion euros In billion euros In billion euros Further improve profitability until 2025** 177.2 8.1 Fixed Cost reduction > 20% 170.5 7.2 5.9 4.9 CapEx and R&D reduc
Slide 12: Mercedes-Benz Cars & Vans: Reconciliation from EBIT to CFBIT
Daimler Internal Mercedes-Benz Cars & Vans: Reconciliation from EBIT to CFBIT in million euros 7,917 +869 +1,560 +881 7,048 -301 -7,567 +7,303 • Restructuring 5,172 • Legal Proceedings +301 +568 EBIT Change in Net financial Net investments Depreciation and Other CFBIT Adjustments CFBIT 2020 working
Slide 13: Daimler Trucks & Buses: Highlights
Daimler Internal Daimler Trucks & Buses: Highlights Challenging first half of the year with significant sales decrease due to Covid-19; strong comeback in second half Incoming orders recovering fast; order backlog significantly above 2019 level Focus on cash preservation measures incl. strict invent
Slide 14: Daimler Trucks & Buses: Business recovery
Daimler Internal Daimler Trucks & Buses: Business recovery Group sales of Daimler Trucks per month in thousand units 2019 EU30 North America Asia 9 20 14 8 18 7 16 12 14 6 10 12 5 8 10 4 8 6 3 6 4 2 4 1 2 2 0 0 0 Jan 20 Dec 20 Jan 20 Dec 20 Jan 20 Dec 20 Daimler AG 14
Slide 15: Daimler Trucks & Buses: Financials
Daimler Internal Daimler Trucks & Buses: Financials Sales Revenue EBIT adj. CFBIT adj. in thousand units in billion euros in million euros in billion euros 521 44.4 34.7 379 2,672 2.7 2.5 -27% -22% -75% -5% 678 2019 2020 2019 2020 2019 2020 2019 2020 Daimler AG 15
Slide 16: Daimler Trucks & Buses: EBIT & RoS
Daimler Internal Daimler Trucks & Buses: EBIT & RoS Significantly lower unit sales in all regions due to market downturns Gross profit -2,875 in million euros Significantly lower contribution from aftermarket due to lower demand Negative industrial performance mainly due to adjustment of warranty pr
Slide 17: Daimler Trucks & Buses: Reconciliation from EBIT to CFBIT
Daimler Internal Daimler Trucks & Buses: Reconciliation from EBIT to CFBIT in million euros +624 2,513 +1,349 +980 -77 -888 525 EBIT Change in Net financial Net investments Depreciation and Provisions, other CFBIT 2020 working capital investments in pp&e and amortization/ 2020 intangible assets impa
Slide 18: Daimler Mobility: Highlights
Daimler Internal Daimler Mobility: Highlights Continuous high customer support during pandemic driving loyalty & retention Positive effects from cost saving measures Ongoing conservative risk management with strong focus on credit quality Flattening of credit risk reserves in second half of year Mob
Slide 19: Daimler Mobility: Financials
Daimler Internal Daimler Mobility: Financials New Contract EBIT adj. business volume in billion euros in billion euros in billion euros 74.4 162.8 150.6 67.8 1.8 1.6 -9% -8% -13% 2019 2020 2019 2020 2019 2020 Daimler AG 19
Slide 20: Daimler Mobility: EBIT & RoE
Daimler Internal Daimler Mobility: EBIT & RoE Increase of cost of credit risk due to Covid-19 Impairment of software in context of streamlining IT-architecture in million euros Fixed cost reductions in all areas Gross profit* -490 2,140 -313 1,827 -54 --398 RoE: +184 +61 1,595 -159 RoE: -92 +67 1,43
Slide 21: Daimler 2020: Group EBIT
Daimler Internal Daimler 2020: Group EBIT in million euros -1,994 +651 +5,963 10,276 -232 -60 8,641 -2,038 6,603 Mercedes-Benz Cars & Vans: • Legal proceedings -154 • Restructuring measures -1,476 4,313 Daimler Trucks & Buses: • Restructuring measures -153 • Legal Daimler Mobility: proceedings +5,44
Slide 22: Daimler 2020: Reconciliation from CFBIT to Free Cash Flow
Daimler Internal Daimler 2020: Reconciliation from CFBIT to Free Cash Flow +2,513 -806 in million euros +21 -517 +896 9,155 8,259 7,048 • Legal proceedings +896 CFBIT CFBIT Income Interest Other Free cash flow Adjustments Free cash flow Mercedes-Benz Daimler taxes paid reconciling (industrial busine
Slide 23: Daimler: Net Industrial Liquidity
Daimler Internal Daimler: Net Industrial Liquidity in million euros +8.7 -8.5 +2.6 -0.4 -1.0 -0.4 17.9 +5.9 Free cash flow industrial business 11.0 FY 2020: € 8,259 million Net industrial Earnings and Working Depreciation and Additions to Investments in Dividend Other Net industrial liquidity other
Slide 24: Daimler 2020: Dividend
Daimler Internal Daimler 2020: Dividend Earnings Net profit Dividend in billion euros per share proposed in euros in euros 4.0 1.35 2.7 3.39 0.9 2.22 48% 53% 50% 2019 2020 2019 2020 2019 2020 Daimler AG 24
Slide 25: Outlook 2021
Daimler Internal Outlook 2021 25
Slide 26: Strategic priorities in 2021
Daimler Internal Strategic priorities in 2021 Raising Accelerating Preparing Performance Technology Project Focus 26
Slide 27: Performance: Market Guidance 2021
Daimler Internal Performance: Market Guidance 2021 ASSUMPTION Daimler assumes that the economic conditions in our most important markets continue to normalize and in particular that no further setbacks occur as a result of the Covid-19 pandemic. Although bottlenecks in the semiconductor industry wil
Slide 28: Performance: Daimler Group Guidance 2021
Daimler Internal Performance: Daimler Group Guidance 2021 ASSUMPTION Daimler assumes that the economic conditions in our most important markets continue to normalize and in particular that no further setbacks occur as a result of the Covid-19 pandemic. Although bottlenecks in the semiconductor indus
Slide 29: Performance: Divisional Guidance 2021
Daimler Internal Performance: Divisional Guidance 2021 ASSUMPTION Daimler assumes that the economic conditions in our most important markets continue to normalize and in particular that no further setbacks occur as a result of the Covid-19 pandemic. Although bottlenecks in the semiconductor industry
Slide 30: Project Focus
Daimler Internal Project Focus 30
Slide 31: OK
Daimler Internal OK 31
Slide 32: Daimler FY 2020 Disclaimer
Daimler Internal Daimler FY 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 ar