Slide 1: Q2/H1 2024 Results Analyst / Investor Presentation
Q2/H1 2024 RESULTS ANALYST / INVESTOR PRESENTATION Christian Levin, CEO Dr. Michael Jackstein, CFO & CHRO Munich, 07/26/2024
Slide 2: Agenda
Q2/H1 2024 Results 2 Investor Relations 07/26/2024 AGENDA 1. Key results & highlights 2. Financial performance & outlook 3. Backup
Slide 3: Disclaimer
Q2/H1 2024 Results 3 Investor Relations 07/26/2024 DISCLAIMER This presentation has been prepared for information purposes only. It does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any securities of Volkswage
Slide 4: Key Results & Highlights
Q2/H1 2024 Results 4 Investor Relations 07/26/2024 KEY RESULTS & HIGHLIGHTS
Slide 5: Strong Q2 performance despite cautious customers and transitory supply issue at Navistar
Q2/H1 2024 Results 5 Investor Relations 07/26/2024 STRONG Q2 PERFORMANCE DESPITE CAUTIOUS CUSTOMERS AND TRANSITORY SUPPLY ISSUE AT NAVISTAR Q2 2024 Incoming Vehicles Sales Adjusted Net cash flow Earnings per share orders sold revenue return on sales TRATON Operations 58,982 78,962 €11.6 bn 8.8% -€37
Slide 6: Q2 brands initiatives for further tangible growth
Q2/H1 2024 Results 6 Investor Relations 07/26/2024 Q2 BRANDS INITIATIVES FOR FURTHER TANGIBLE GROWTH Highlights Scania establishes charging MAN introduces the New Power Lion Navistar surpasses 100 electric VWTB has made further progress in solutions company Erinion to help driveline with a new highl
Slide 7: BEV order momentum on the rise
Q2/H1 2024 Results 7 07/26/2024 BEV ORDER MOMENTUM ON THE RISE Incoming orders of fully electric vehicles (units) H1 24 H1 23 1,706 1,054 Unit sales of fully electric vehicles (units) H1 24 H1 23 605 654
Slide 8: Ongoing support from order book
Q2/H1 2024 Results 8 Investor Relations 07/26/2024 ONGOING SUPPORT FROM ORDER BOOK ― Continued normalization of truck markets in Incoming orders & Unit sales (k units) Europe and North America leading to softer order intake levels and declining, still solid unit Incoming orders Unit sales sales 110
Slide 9: Financial Performance & Outlook
Q2/H1 2024 Results 9 Investor Relations 07/26/2024 FINANCIAL PERFORMANCE & OUTLOOK
Slide 10: Sales revenue benefiting from mix effects and pricing despite Navistar supply issue
Q2/H1 2024 Results 10 Investor Relations 07/26/2024 SALES REVENUE BENEFITING FROM MIX EFFECTS AND PRICING DESPITE NAVISTAR SUPPLY ISSUE ― Solid unit sales, impacted by: Unit sales (k units) Sales revenue (€ bn) ― Strong South American market, but normalizing markets in Europe and H1 24 H1 24 Vehicle
Slide 11: Continued strong return on sales
Q2/H1 2024 Results 11 Investor Relations 07/26/2024 CONTINUED STRONG RETURN ON SALES ― Increased sales revenue per unit Adjusted operating result (€ mn) Adjusted return on sales (%) ― Improved cost structure at TRATON Operations H1 24 H1 24 2,121(+7%) 9.1% (+0.4 pp) ― Positive impact from MAN realig
Slide 12: Different growth dynamics with offsetting effects in Q2
Q2/H1 2024 Results 12 Investor Relations 07/26/2024 DIFFERENT GROWTH DYNAMICS WITH OFFSETTING EFFECTS IN Q2 TRATON Operations Q2 Sales revenue 11,282 4,819 3,553 2,244 786 468 24 (in € mn, YoY) (-1%) (+8%) (-2%) (-21%) (+41%) (+22%) Adjusted RoS 10.2% 14.7% 8.5% 2.7% 12.6% 11.9% (Return on equity) (
Slide 13: Continued focus on cash generation and net debt reduction
Q2/H1 2024 Results 13 Investor Relations 07/26/2024 CONTINUED FOCUS ON CASH GENERATION AND NET DEBT REDUCTION ― Net debt of TRATON Operations (TO) incl. Net liquidity/net debt bridge, H1 24 (€ mn) Net liquidity/net debt Corporate Items (CI) Corporate Items (CI) increased vs. year-end 2023 mainly due
Slide 14: 2024 outlook for TRATON GROUP confirmed
Q2/H1 2024 Results 14 Investor Relations 07/26/2024 2024 OUTLOOK FOR TRATON GROUP CONFIRMED … FY 2023 FY 2024 Outlook TRATON GROUP Unit sales (€ million) 338,183 -5 ‒ +10% Sales revenue (€ million) 46,872 -5 ‒ +10% Operating return on sales (adjusted) (in %) 8.61 8.0 ‒ 9.01 TRATON Operations Sales r
Slide 15: With unchanged truck market forecast
Q2/H1 2024 Results 15 Investor Relations 07/26/2024 … WITH UNCHANGED TRUCK MARKET FORECAST EU27+31 (k units, >6t) North America (k units, class 6-82) South America (k units, >6t) 600 600 600 500 500 500 445 400 387 400 400 300 300 300 200 200 200 154 100 100 100 0 0 0 09 11 13 15 17 19 21 23 09 11 1
Slide 16: TRATON joins the MDAX and celebrates its 5th anniversary on the stock market
Q2/H1 2024 Results 16 Investor Relations 07/26/2024 TRATON JOINS THE MDAX AND CELEBRATES ITS 5TH ANNIVERSARY ON THE STOCK MARKET
Slide 17: Backup
Q2/H1 2024 Results 17 Investor Relations 07/26/2024 BACKUP
Slide 18: TRATON Operations – Incoming orders
Q2/H1 2024 Results 18 Investor Relations 07/26/2024 TRATON OPERATIONS – INCOMING ORDERS Incoming orders (units) Q1 20 Q2 20 Q3 20 Q4 20 FY 20 Q1 21 Q2 21 Q3 21 Q4 21 FY 21 Q1 22 Q2 22 Q3 22 Q4 22 FY 22 Q1 23 Q2 23 Q3 23 Q4 23 FY 23 Q1 24 Q2 24 TRATON Operations 54,161 33,270 58,502 70,318 216,251 81
Slide 19: TRATON Operations – Unit sales
Q2/H1 2024 Results 19 Investor Relations 07/26/2024 TRATON OPERATIONS – UNIT SALES Unit sales (units) Q1 20 Q2 20 Q3 20 Q4 20 FY 20 Q1 21 Q2 21 Q3 21 Q4 21 FY 21 Q1 22 Q2 22 Q3 22 Q4 22 FY 22 Q1 23 Q2 23 Q3 23 Q4 23 FY 23 Q1 24 Q2 24 TRATON Operations 45,990 31,748 49,922 62,520 190,180 60,315 66,13
Slide 20: TRATON Group – Sales revenue
Q2/H1 2024 Results 20 Investor Relations 07/26/2024 TRATON GROUP – SALES REVENUE Sales revenue (€ mn) Q1 21 Q2 21 Q3 21 Q4 21 FY 21 Q1 22 Q2 22 Q3 22 Q4 22 FY 22 Q1 23 Q2 23 Q3 23 Q4 23 FY 23 Q1 24 Q2 24 TRATON GROUP 6,544 7,076 8,049 8,950 30,620 8,525 9,457 10,563 11,789 40,335 11,186 11,669 11,32
Slide 21: TRATON Group – Operating result & return on sales
Q2/H1 2024 Results 21 Investor Relations 07/26/2024 TRATON GROUP – OPERATING RESULT & RETURN ON SALES Operating result (€ mn) Q1 21 Q2 21 Q3 21 Q4 21 FY 21 Q1 22 Q2 22 Q3 22 Q4 22 FY 22 Q1 23 Q2 23 Q3 23 Q4 23 FY 23 Q1 24 Q2 24 TRATON GROUP 155 301 186 -248 393 355 306 -52 955 1,564 834 966 895 1,06
Slide 22: TRATON Group – Adjusted operating result & adjusted return on sales
Q2/H1 2024 Results 22 Investor Relations 07/26/2024 TRATON GROUP – ADJUSTED OPERATING RESULT & ADJUSTED RETURN ON SALES Adj. operating result (€ mn) Q1 21 Q2 21 Q3 21 Q4 21 FY 21 Q1 22 Q2 22 Q3 22 Q4 22 FY 22 Q1 23 Q2 23 Q3 23 Q4 23 FY 23 Q1 24 Q2 24 TRATON GROUP 516 612 195 277 1,599 402 396 549 72
Slide 23: TRATON Group – Adjustments
Q2/H1 2024 Results 23 Investor Relations 07/26/2024 TRATON GROUP – ADJUSTMENTS Adjustments (€ mn) FY 20 Q1 21 Q2 21 Q3 21 Q4 21 FY 21 Q1 22 Q2 22 Q3 22 Q4 22 FY 22 Q1 23 Q2 23 Q3 23 Q4 23 FY 23 Q1 24 Q2 24 Operating result 81 155 301 186 -248 393 355 306 -52 955 1,564 834 966 895 1,068 3,763 1,057 1
Slide 24: TRATON Operations – Cash and liquidity
Q2/H1 2024 Results 24 Investor Relations 07/26/2024 TRATON OPERATIONS – CASH AND LIQUIDITY TRATON Operations (€ mn) Q1 21 Q2 21 Q3 21 Q4 21 FY 21 Q1 22 Q2 22 Q3 22 Q4 22 FY 22 Q1 23 Q2 23 Q3 23 Q4 23 FY 23 Q1 24 Q2 24 Gross cash flow 863 901 974 370 3,107 1,067 862 1,036 1,207 4,171 1,300 1,570 1,35
Slide 25: TRATON Group – Debt maturity profile
Q2/H1 2024 Results 25 Investor Relations 07/26/2024 TRATON GROUP – DEBT MATURITY PROFILE Major financings Maturity profile (€ bn)1 ― €350 mn Schuldschein outstanding (tranches of 5y and 7y) 8.0 ― Total of €10.3 bn (equivalent) TFL Bonds outstanding (tranches of 1.75y to 12y) 7.0 ― €4.5 bn syndicated
Slide 26: Investor Relations team
Q2/H1 2024 Results 26 Investor Relations 07/26/2024 TRATON INVESTOR RELATIONS TEAM Ursula Querette Thomas Paschen Head of Investor Relations Analysts and Investors, Consensus, Private Investors +49 152 021 52 400 +49 170 907 34 94 ursula.querette@traton.com thomas.paschen@traton.com Marie Fischhaber
Slide 27: Upcoming events
Q2/H1 2024 Results 27 Investor Relations 07/26/2024 UPCOMING EVENTS ― 10/01/2024 TRATON Capital Markets Day ― 10/28/2024 9M 2024 Interim Statement TRATON SE Hanauer Strasse 26 80992 Munich Germany www.traton.com investor.relations@traton.com LinkedIn | Instagram