Slide 1: Q2/H1 2025 Results Analyst / Investor Presentation
Q2/H1 2025 Results 1 Investor Relations 25/07/2025 Q2/H1 2025 RESULTS ANALYST / INVESTOR PRESENTATION Christian Levin, CEO Dr. Michael Jackstein, CFO & CHRO 25/07/2025
Slide 2: Agenda
Q2/H1 2025 Results 2 Investor Relations 25/07/2025 AGENDA 1. Key results & highlights 2. Financial performance & outlook 3. Backup
Slide 3: Disclaimer
Q2/H1 2025 Results 3 Investor Relations 25/07/2025 DISCLAIMER This presentation has been prepared for information purposes only. The presentation 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 securitie
Slide 4: Key Results & Highlights
Q2/H1 2025 Results 4 Investor Relations 25/07/2025 KEY RESULTS & HIGHLIGHTS
Slide 5: Good Unit Sales and Order Development – But Not Yet Good Enough
Q2/H1 2025 Results 5 Investor Relations 25/07/2025 GOOD UNIT SALES AND ORDER DEVELOPMENT – BUT NOT YET GOOD ENOUGH H1 2025 153,086 €21.9bn 6.3% €54m €1.42 139,599 -4% YoY -6% YoY -2.8pp YoY -€10m YoY -€1.25 YoY +11% YoY Q2 2025 Unit Sales Adjusted Net cash flow Earnings per share Incoming sales reve
Slide 6: We Continue Our Long-Term Transformation Journey Despite the Challenges Ahead
Q2/H1 2025 Results 6 Investor Relations 25/07/2025 WE CONTINUE OUR LONG-TERM TRANSFORMATION JOURNEY DESPITE THE CHALLENGES AHEAD Highlights Q2 2025 Scania launched its MCS rapid MAN started the series production of International introduced the next Volkswagen Truck & Bus began charging solution, lay
Slide 7: Internal Transformation Aimed at Enhanced Operational Efficiency
Q2/H1 2025 Results 7 Investor Relations 25/07/2025 OUR INTERNAL TRANSFORMATION AIMED AT ENHANCED OPERATIONAL EFFICIENCY IS ALSO PROGRESSING TRATON Financial Services completes rollout of integrated captive TRATON GROUP writes a new chapter in the company’s history with structure across 14 markets th
Slide 8: BEV Sales Continue to Grow with E-Trucks Ramping Up
Q2/H1 2025 Results 8 Investor Relations 25/07/2025 BEV SALES CONTINUE TO GROW WITH E-TRUCKS RAMPING UP Unit sales of fully electric vehicles (units) Q2 25 Q2 24 629 H1 25 290 H1 24 1,250 605 Incoming orders of fully electric vehicles (units) Q2 25 Q2 24 608 H1 25 970 H1 24 1,474 1,706
Slide 9: Slowing Order Activity and Uncertainty in North American Market
Q2/H1 2025 Results 9 Investor Relations 25/07/2025 SLOWING ORDER ACTIVITY AND UNCERTAINTY IN NORTH AMERICAN MARKET DRAGS BOOK-TO-BILL RATIO DOWN Europe: Incoming orders & Unit sales (k units) ― Truck unit sales development (up QoQ and stable YoY ) starting to reflect recent order Incoming orders Uni
Slide 10: Lowering Our North American Truck Market Outlook
Q2/H1 2025 Results 10 Investor Relations 25/07/2025 … LEADING US TO LOWER OUR NORTH AMERICAN TRUCK MARKET OUTLOOK EU27+31 (k units, >6t) North America (k units, class 6-82) South America (k units, >6t) 2025e: -15% – -5% 2025e: -17.5% – -7.5% 2025e: -5% – +5% (2024: -6% | 365) (2024: class 6-82 -4% |
Slide 11: Financial Performance & Outlook
Q2/H1 2025 Results 11 Investor Relations 25/07/2025 FINANCIAL PERFORMANCE & OUTLOOK
Slide 12: Europe at Replacement Levels, North America Below
Q2/H1 2025 Results 12 Investor Relations 25/07/2025 EUROPE AT REPLACEMENT LEVELS, NORTH AMERICA BELOW – NO STRUCTURAL GROWTH YET ― Q2 unit sales up by 1%, driven by: Unit sales (k units) Sales revenue (€ bn) ― European order momentum from last two quarters starting to translate into truck unit H1 25
Slide 13: Not Enough Volume to Fill Production, But Healthy Levels for MAN
Q2/H1 2025 Results 13 Investor Relations 25/07/2025 NOT ENOUGH VOLUME TO FILL PRODUCTION, BUT HEALTHY LEVELS FOR MAN Decreased Q2 adj. RoS YoY due to: Adjusted operating result (€ m) Adjusted return on sales (%) ― Declining sales revenue H1 25 H1 25 ― Lower fixed cost absorption 1,371 (-35%) 6.3% (-
Slide 14: Full Focus on Solving Scania's Temporary Margin Issues
Q2/H1 2025 Results 14 Investor Relations 25/07/2025 FULL FOCUS ON SOLVING SCANIA’S TEMPORARY MARGIN ISSUES TRATON Operations1 Q2 Sales revenue 10,868 4,550 3,557 2,205 684 532 25 (in € m, YoY) (-4%) (-6%) (+0%) (-2%) (-13%) (+14%) Adjusted RoS 7.6% 9.0% 7.9% 3.3% 12.9% 8.4% (Return on Equity2) (YoY)
Slide 15: Cash Flow Trend Reversal Expected in H2
Q2/H1 2025 Results 15 Investor Relations 25/07/2025 CASH FLOW TREND REVERSAL EXPECTED IN H2 ― Net debt of TRATON Operations incl. Net liquidity/net debt bridge, H1 2025 (€ m) TO = TRATON Operations Corporate Items increased by €1.2bn CI = Corporate Items vs. year-end 2024 mainly due to: Net debt inc
Slide 16: 2025 Outlook Adjusted
Q2/H1 2025 Results 16 Investor Relations 25/07/2025 2025 OUTLOOK ADJUSTED FY 2024 FY 2025 FY 2025 Actuals Outlook “Old“ Outlook “New“ (since Q2 Results) TRATON GROUP Unit sales (units) 334,215 -5 ‒ +5% -10 ‒ 0% Sales revenue (€ million) 47,473 -5 ‒ +5% -10 ‒ 0% Operating return on sales (adjusted) (
Slide 17: Backup
Q2/H1 2025 Results 17 Investor Relations 25/07/2025 BACKUP
Slide 18: TRATON Operations – Incoming Orders
Q2/H1 2025 Results 18 Investor Relations 25/07/2025 TRATON OPERATIONS – INCOMING ORDERS Incoming orders (units) Q1 22 Q2 22 Q3 22 Q4 22 FY 22 Q1 23 Q2 23 Q3 23 Q4 23 FY 23 Q1 24 Q2 24 Q3 24 Q4 24 FY 24 Q1 25 Q2 25 Q2 QoQ Q2 YoY TRATON Operations 95,594 68,619 91,978 78,392 334,583 68,470 56,788 64,3
Slide 19: TRATON Operations – Incoming Orders by Region
Q2/H1 2025 Results 19 Investor Relations 25/07/2025 TRATON OPERATIONS – INCOMING ORDERS BY REGION Incoming orders (units) Q1 22 Q2 22 Q3 22 Q4 22 FY 22 Q1 23 Q2 23 Q3 23 Q4 23 FY 23 Q1 24 Q2 24 Q3 24 Q4 24 FY 24 Q1 25 Q2 25 Q2 QoQ Q2 YoY Trucks 79,529 56,049 74,745 63,976 274,299 53,610 44,636 51,74
Slide 20: TRATON Operations – Unit Sales
Q2/H1 2025 Results 20 Investor Relations 25/07/2025 TRATON OPERATIONS – UNIT SALES Unit sales (units) Q1 22 Q2 22 Q3 22 Q4 22 FY 22 Q1 23 Q2 23 Q3 23 Q4 23 FY 23 Q1 24 Q2 24 Q3 24 Q4 24 FY 24 Q1 25 Q2 25 Q2 QoQ Q2 YoY TRATON Operations 67,767 69,527 79,849 88,342 305,485 84,587 83,527 81,361 88,708
Slide 21: TRATON Operations – Unit Sales by Region
Q2/H1 2025 Results 21 Investor Relations 25/07/2025 TRATON OPERATIONS – UNIT SALES BY REGION Unit sales (units) Q1 22 Q2 22 Q3 22 Q4 22 FY 22 Q1 23 Q2 23 Q3 23 Q4 23 FY 23 Q1 24 6,095 5,217 Q4 24 FY 24 Q1 25 Q2 25 Q2 QoQ Q2 YoY Truck 57,575 57,540 66,602 72,583 254,300 70,208 69,635 67,235 74,212 28
Slide 22: TRATON Group – Sales Revenue
Q2/H1 2025 Results 22 Investor Relations 25/07/2025 TRATON GROUP – SALES REVENUE Sales revenue (€ m) Q1 22 Q2 22 Q3 22 Q4 22 FY 22 Q1 23 Q2 23 Q3 23 Q4 23 FY 23 Q1 24 Q2 24 Q3 24 Q4 24 FY 24 Q1 25 Q2 25 Q2 QoQ Q2 YoY TRATON GROUP 8,525 9,457 10,563 11,789 40,335 11,186 11,669 11,321 12,697 46,872 11
Slide 23: TRATON Group – Operating Result & Return on Sales
Q2/H1 2025 Results 23 Investor Relations 25/07/2025 TRATON GROUP – OPERATING RESULT & RETURN ON SALES Operating result (€ m) Q1 22 Q2 22 Q3 22 Q4 22 FY 22 Q1 23 Q2 23 Q3 23 Q4 23 FY 23 Q1 24 Q2 24 Q3 24 Q4 24 FY 24 Q1 25 Q2 25 Q2 QoQ Q2 YoY TRATON GROUP 355 306 -52 955 1,564 834 966 895 1,068 3,763
Slide 24: TRATON Group – Adjusted Operating Result & Adjusted Return on Sales
Q2/H1 2025 Results 24 Investor Relations 25/07/2025 TRATON GROUP – ADJUSTED OPERATING RESULT & ADJUSTED RETURN ON SALES Adj. operating result (€ m) Q1 22 Q2 22 Q3 22 Q4 22 FY 22 Q1 23 Q2 23 Q3 23 Q4 23 FY 23 Q1 24 Q2 24 Q3 24 Q4 24 FY 24 Q1 25 Q2 25 Q2 QoQ Q2 YoY TRATON GROUP 402 396 549 724 2,071 9
Slide 25: TRATON Operations – Cash and Liquidity
Q2/H1 2025 Results 25 Investor Relations 25/07/2025 TRATON OPERATIONS – CASH AND LIQUIDITY TRATON Operations (€ m) Q1 22 Q2 22 Q3 22 Q4 22 FY 22 Q1 23 Q2 23 Q3 23 Q4 23 FY 23 Q1 24 Q2 24 Q3 24 Q4 24 FY 24 Q1 25 Q2 25 Q2 QoQ Q2 YoY Gross cash flow 1,067 862 1,036 1,207 4,171 1,300 1,570 1,354 1,323 5
Slide 26: TRATON Group – Debt Maturity Profile
Q2/H1 2025 Results 26 Investor Relations 25/07/2025 TRATON GROUP – DEBT MATURITY PROFILE (AS OF 30 JUNE 2025) Major financings 2 Maturity profile (€ bn)1 ― Total of €11.3bn (equivalent) TFL Bonds outstanding (tranches of 1y to 12y) ― €4.5bn syndicated RCF undrawn 10.0 ― €350m Schuldschein outstandin
Slide 27: IR Contact and Upcoming Events
27 Investor Relations IR CONTACT AND UPCOMING EVENTS Contacts Next Events Ursula Querette Thomas Paschen 25/07/2025 Q2/H1 2025 Results Head of Investor Relations Investor Relations +49 152 021 52 400 +49 170 907 34 94 25/07/2025 Morgan Stanley Post Q2 2025 Results ursula.querette@traton.com thomas.p