Mercedes-benz Group Ag · XETR:MBG
Mercedes-benz — Q1 2022 Earnings Presentation
26 slides from Mercedes-benz's earnings presentation, Apr 27, 2022
Slide 1: Willkommen | Welcome
Willkommen | Welcome Capital Market Presentation Q1 2022 Mercedes-Benz Group AG Stuttgart, April 27, 2022
Slide 2: Review Q1 2022
Internal Review Q1 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 +6% +8% 34.9 22.7 32.9 21.0 +11% +19% 5.2 5.3 4.7 4.4 -6% 1.3 1.2 Q1 2021 Q1 2022 Q1 2021 Q1 2022 Q1 202
Slide 4: Mercedes-Benz Cars: Key messages
Internal Mercedes-Benz Cars: Key messages Ongoing high customer demand; volume constrained by semiconductor shortage Financials impacted by situation in Russia and Ukraine Strong margin reflects shift to top-end vehicles; continued pricing power and cost discipline Momentum of electric vehicle sales
Slide 5: Mercedes-Benz Cars: Top-end and electric vehicle unit sales
Internal Mercedes-Benz Cars: Top-end and electric vehicle unit sales In thousand units -10% 539 487 +5% 78* 75* 8 G +19% 9 6 Maybach 74 2 62 28 AMG 27 BEV 37 18 S thereof 46 EQS 44 47 PHEV 34 GLS Q1 2021 Q1 2022 Q1 2021 Q1 2022 Q1 2021 Q1 2022 Total MBC Top End Vehicles Electric vehicles Share in %
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 +8% -10% 538.9 25.8 +21% 487.0 4.2 23.9 3.5 -43% 2.9 1.7 +18% 70.5* 60.0* Q1 2021 Q1 2022 Q1 2021 Q1 2022 Q1 2021 Q1 2022 Q1 2021 Q1 2022 * ASP in thousand
Slide 7: Mercedes-Benz Cars: Q1 2022 EBIT & RoS
Internal Mercedes-Benz Cars: Q1 2022 EBIT & RoS In million euros Gross Profit +918 1,806 56 50 4,243 28 4,271 -944 -45 -47 3,790 -149 3,515 -275 Strongly improved net pricing Favorable product mix RoS: RoS: RoS: RoS: 16.5% Positive development of used car business 16.4% 15.8% 14.7% Lower unit sales
Slide 8: Mercedes-Benz Cars: EBIT to CFBIT
Internal Mercedes-Benz Cars: EBIT to CFBIT In million euros 4,271 414 1,458 -884 -1,426 1,847 1,680 -1,986 -167 CCR: CCR: t/o t/o • New vehicle stock - 1,351 • Result at-Equity BBAC - 447 0.4 • Legal proceedings +123 0.4 • Unfinished products - 680 • MB Grand Prix -358 • Restructuring +275 • Trade p
Slide 9: Mercedes-Benz Vans: Key messages
Internal Mercedes-Benz Vans: Key messages Unit sales at prior-year level despite semiconductor constraints Best ever Q1 sales of Sprinter and Metris in North America Progressing battery electric Van sales based on market leadership mid- and large-size in Europe in 2021 New products in small Van segm
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 +0% +9% 88.4 88.5 3.7 +135% +42% 437 3.4 466 thereof 328 186 Q1 2021 Q1 2022 Q1 2021 Q1 2022 Q1 2021 Q1 2022 Q1 2021 Q1 2022 10
Slide 11: Mercedes-Benz Vans: Q1 2022 EBIT & RoS
Internal Mercedes-Benz Vans: Q1 2022 EBIT & RoS In million euros Gross Profit +112 197 8 32 10 466 -93 -11 -7 348 38 328 290 -118 RoS: 12.6% RoS: Strongly improved net pricing RoS: RoS: 9.4% 9.7% Favorable product mix 8.5% Positive development of used vehicle business • Russia -51 Higher raw materia
Slide 12: Mercedes-Benz Vans: EBIT to CFBIT
Internal Mercedes-Benz Vans: EBIT to CFBIT In million euros 122 43 59 437 55 378 -34 348 -156 CCR: CCR: 0.9 1.1 t/o t/o • New vehicle stock +13 • Provisions -56 • Legal proceedings +86 • Unfinished products -105 • Retail outlets sale -36 • Restructuring +16 • Trade payables +115 • At-equity result F
Slide 13: Mercedes-Benz Mobility: Key messages
Internal Mercedes-Benz Mobility: Key messages New business still impacted by supply constraints and lower market penetration Solid interest margin despite volatile capital markets Net credit losses at low level similar to 2021 Situation in Russia constantly tracked, new business stopped and credit r
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 +1% +6% -13% 16.8 133.7 134.4 733 691 14.5 Q1 2021 Q1 2022 12/31/2012 03/31/2022 Q1 2021 Q1 2022 14
Slide 15: Mercedes-Benz Mobility: Q1 2022 EBIT & RoE
Internal Mercedes-Benz Mobility: Q1 2022 EBIT & RoE In million euros 744 47 68 733 0 733 691 -8 12 -54 -55 -22 RoE: RoE: RoE: RoE: 20.2% 18.7% 20.2% 20.2% Improved operative business performance at Mobility Services and Fleet Management Margin benefiting from lower refinancing costs vs. Q1 previous
Slide 16: Mercedes-Benz Group: Q1 2022 EBIT
Internal Mercedes-Benz Group: Q1 2022 EBIT* In million euros 138 42 5,301 5,229 728 -51 -72 4,701 4,444 -257 • Legal proceedings -281 • M&A transactions +918 • Russia -709 EBIT EBIT EBIT Mercedes-Benz Mercedes-Benz Mercedes-Benz EBIT Adjustments adjusted Reconciliation Adjusted Adjustments Q1 2021 C
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 378 1.847 -609 -165 -16 1.216 1.210 -219 -6 • Legal proceedings +210 • Restructuring +328 • M&A transactions -544 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 1.5 0.5 22.7 1.6 0.5 21.0 -0.9 -1.5 Free cash flow industrial business Q1 2022: € 1.2 billion Additions to Net Industrial Depreciation and Investments in Net Industrial Earnings and other Working capital property, plant, Liquidi
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. The main factor contributing to this is the war in Ukraine, with its effects on supply chains and on the availability and the
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. The main factor contributing to this is the war in Ukraine, with its effects on supply chains and on the availability and the deve
Slide 22: Strategic priorities for this year – implementation on track
Internal Strategic priorities for this year – implementation on track Scale Grow Accelerate Alleviate Focus electric luxury car supply relentlessly vehicles business software constraints on costs Significant increase of CMD May 19th CMD preparation On course Deep sourcing progress BEV sales 22
Slide 23: Appendix
Internal Appendix Daimler AG 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% 0.20% 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: YOUR NOW Joint Ventures Q1 2022
Internal YOUR NOW Joint Ventures Q1 2022 1. FREE NOW & REACH NOW 2. SHARE NOW 3. CHARGE NOW 03/2022 YTD Interactions in millions 42.3 37.6 0.0 3.4 1.2 Customers* in millions 60.6 56.8 n/a 3.4 0.3 Cities* 170 152 2 16 n/a * Partially, data summation w/o consideration of possible redundancies 25
Slide 26: 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