Mercedes-benz Group Ag · XETR:MBG
Mercedes-benz — Daimler — Debt Investor Presentation (January 2017)
10 slides from Mercedes-benz's debt investor presentation, January 2017
Slide 1: Fixed Income Presentation January 2017
Fixed Income Presentation January 2017
Slide 2: Daimler follows a conservative Financial Policy
Daimler follows a conservative Financial Policy Clear commitment to a single A rating Balanced approach between shareholder interest and credit providers Dividend policy on a sustainable basis (40% target pay-out ratio) No share buybacks planned, further pension contributions will be evaluated Daiml
Slide 3: Our funding strategy is built on prudent principles
Our funding strategy is built on prudent principles No dependence from single markets, instruments, banks or investors Targeting Diversification of funding sources and instruments: Financial Bank Loans, Bonds, ABS, CP, Deposits Independence No Covenants, no MAC, no asset pledges, no CSAs Keeping pru
Slide 4: Daimler follows a conservative financial management and further strengthened the balance sheet
Daimler follows a conservative financial management and further strengthened the balance sheet Group Gross Liquidity (in bn €) Industrial Net Liquidity (in bn €) Financial Services Industrial Business 23.6 18.6 17.9 17.0 2.8 18.1 18.2 13.8 16.6 16.3 42% 3.0 2.8 11.9 12.0 11.5 2.9 2.8 13.0 11.9 2.2 1
Slide 5: Financing Liabilities Structure 2012 – 2016
Financing Liabilities Structure 2012 – 2016 in billions of EUR Other Bank Loans Com. Paper Bonds ABS Not alloc. Fund. Acc. Deposits 109,5 110,9 104,1 1,2 1,1 100,6 1,2 7,8 9,0 1,5 2,4 2,1 2,9 3,0 8,4 86,4 7,4 10,9 11,4 1,5 10,5 77,7 2,3 10,5 75,6 1,4 6,0 1,3 1,8 6,1 1,1 10,9 28,1 28,6 5,1 26,9 11,3
Slide 6: Consequent development to global bond funding
Consequent development to global bond funding Diversification will continue Established global markets Established local markets Daimler AG Fixed Income Presentation January 2017/ Page 6
Slide 7: Bond Issuance by currencies
Bond Issuance by currencies 2015 Q3 2016 18.0 bn. € 16.5 bn. € CNY 3% Others 6% Others 4% CNY 4% ZAR 3% ZAR 4% AUD 1% EUR 25% CAD 3% AUD 2% GBP 2% CAD 3% GBP 8% USD 19% EUR 64% USD 48% Daimler AG Fixed Income Presentation January 2017/ Page 7
Slide 8: Development of bond maturity profile
Development of bond maturity profile in billions of EUR as of 30 September 2016 12.8 12.3 Maturities 8.8 8.0 4.8 1.9 1.9 1.3 1.1 1.0 1.3 1.3 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2028 2031 Daimler AG Fixed Income Presentation January 2017/ Page 8
Slide 9: Solid rating supports Daimler's funding
Solid rating supports Daimler‘s funding Current ratings: S&P: A stable A-1 Moody’s: A3 positive P-2 Fitch: A- stable F2 DBRS: A (low) stable R-1 (low) Daimler target: Sustaining the A rating at all rating agencies Daimler AG Fixed Income Presentation January 2017/ Page 9
Slide 10: 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-lookin