Mercedes-benz Group Ag · XETR:MBG
Mercedes-benz — Daimler — Non-Deal Roadshow (2021)
67 slides from Mercedes-benz's roadshow presentation, 2021
Slide 1: Roadshow Presentation FY 2020
OK Roadshow Presentation FY 2020 Daimler AG Daimler AG Roadshow Presentation | FY 2020 1
Slide 2: Agenda
OK AGENDA I. RESULTS FY 2020 II. OUTLOOK FY 2021 III. STRATEGY 1. DAIMLER GROUP 2. MERCEDES-BENZ CARS & VANS 3. DAIMLER TRUCKS & BUSES 4. DAIMLER MOBILITY Daimler AG Roadshow Presentation | FY 2020 2
Slide 3: Daimler: Key messages
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 Roadshow Presentation | FY 2020 3
Slide 4: Daimler: Key figures
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 2019 2020 2019 202
Slide 5: 2020 Dividend: Proposal based on our dividend policy
Daimler 2020 Dividend: Proposal based on our dividend policy 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 Roadshow Presentation | FY 2020 5
Slide 6: Mercedes-Benz Cars: Highlights
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 in electric drive
Slide 7: Mercedes-Benz Cars: Business recovery faster than expected in H2-2020
Mercedes-Benz Cars: Business recovery faster than expected in H2-2020 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 Daim
Slide 8: Mercedes-Benz Cars: CO2 compliance Europe
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 & Exo Innovation Credits 2019 2020 20212) 3) Target depends on fleet emission value 2020
Slide 9: Mercedes-Benz Cars: Covid-19 related sales losses but strong model mix
Mercedes-Benz Cars: Covid-19 related sales losses but strong model mix in thousand units BY REGIONS BY SEGMENT 2,385 2,385 107 2,087 2,087 28 386 35 smart 296 Rest of world 18 Sports Cars 790 657 Europe 501 excl. Germany 888 75 SUVs 335 283 Germany 418 56 S-Class 313 249 United States 332 E-Class 44
Slide 10: Mercedes-Benz Cars & Vans: Indicators of change
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 177.2 Further improve profitability until 2025** 8.1 170.5 7.2 5.9 Fixed Cost reduction > 20% 4.9 -4% -14% -11% -17% CapEx and R&D red
Slide 11: Mercedes-Benz Cars & Vans financials: CFBIT more than tripled
Mercedes-Benz Cars & Vans financials: CFBIT more than tripled, demonstrating focus on cash flow 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 For mo
Slide 12: Mercedes-Benz Cars & Vans EBIT FY & RoS
Mercedes-Benz Cars & Vans EBIT FY & RoS: Lower unit sales, model mix and pricing continued to develop favorably 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 Sign
Slide 13: Daimler Trucks & Buses: Highlights
MD 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 inventory management
Slide 14: Trucks: Pronounced sales decline but strong order intake in North America
Daimler Trucks: Pronounced sales decline but strong order intake in North America in thousand units UNIT SALES INCOMING ORDERS** 489 30 413 399 358 Rest of world 32 Rest of world 135 26 27 43 Asia 94 Asia 139 98 Latin America 34 Latin America 33 42 201 187 NAFTA region 139 NAFTA region 122 80 61 EU3
Slide 15: Trucks & Buses Financials: strong sales decline from high levels in 2019
Daimler Trucks & Buses Financials: strong sales decline from high levels in 2019 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 For more details on
Slide 16: Trucks & Buses EBIT & RoS
Daimler Trucks & Buses EBIT & RoS: Market decrease in our core regions, pricing at the level of the previous year Significantly lower unit sales in all regions due to market downturns in million euros Gross profit -2,875 Significantly lower contribution from aftermarket due to lower demand Negative
Slide 17: Mobility: Highlights
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 Mobility services co
Slide 18: Mobility Financials: Decrease in new business
Daimler Mobility Financials: Decrease in new business in a challenging market environment New Contract EBIT adj. business volume in billion euros in billion euros in billion euros 162.8 74.4 150.6 67.8 1.8 1.6 -9% -8% -13% 2019 2020 2019 2020 2019 2020 For more details on financials please see Daiml
Slide 19: Mobility: Net credit losses
Daimler Mobility: Net credit losses* 0.89% 0.83% 0.68% 0.61% 0.50% 0.51% 0.36% 0.43% 0.37% 0.34% 0.31% 0.33% 0.31% 0.24% 0.26% 0.26% 0.21% 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 * as a percentage of portfolio, subject to credit risk Daimler AG Roadshow P
Slide 20: Mobility EBIT & RoE: Main impact from higher cost of credit risk
Daimler Mobility EBIT & RoE: Main impact from higher cost of credit risk Increase of cost of credit risk due to Covid-19 in million euros Impairment of software in context of streamlining IT-architecture Fixed cost reductions in all areas Gross profit* -490 2,140 -313 1,827 -54 --398 RoE: +184 +61 1
Slide 21: Agenda
OK AGENDA I. RESULTS FY 2020 II. OUTLOOK FY 2021 III. STRATEGY 1. DAIMLER GROUP 2. MERCEDES-BENZ CARS & VANS 3. DAIMLER TRUCKS & BUSES 4. DAIMLER MOBILITY Roadshow Presentation | FY 2020 21
Slide 22: Performance: Market Guidance 2021
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 will impact sales ma
Slide 23: Performance: Daimler Group Guidance 2021
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 industry will impact s
Slide 24: Performance: Divisional Guidance 2021
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 will impact sale
Slide 25: Agenda
OK AGENDA I. RESULTS FY 2020 II. OUTLOOK FY 2021 III. STRATEGY 1. DAIMLER GROUP 2. MERCEDES-BENZ CARS & VANS 3. DAIMLER TRUCKS & BUSES 4. DAIMLER MOBILITY Roadshow Presentation | FY 2020 25
Slide 26: Group sustainability topics as an integral part
Daimler Group 6 + 3 sustainability topics as an integral part Climate protection Resource Livable & air quality conservation cities Traffic safety Data responsibility Human rights Integrity People Partnerships Daimler AG Roadshow Presentation | FY 2020 26
Slide 27: CO2 neutrality at Mercedes-Benz Cars
Daimler Group CO2 neutrality at Mercedes-Benz Cars 2039 2030 We aim to achieve CO2 neutrality for our new Our goal is to have plug-in 2025 hybrids or all-electric vehicles passenger car fleet by 2039. account for more than 50 2022 Depending on how conditions develop, we plan to have all- percent of
Slide 28: Daimler Trucks & Buses: Making CO2-neutral transport a reality
Daimler Group Daimler Trucks & Buses: Making CO2-neutral transport a reality 2039 Ambition: By 2039, new vehicles in Europe, Japan and North America will be CO2 Second half neutral in operation (tank-to-wheel). of 2020s Hydrogen-based series- production vehicles in the second half of the decade. 202
Slide 29: Green Finance Framework
Daimler Group Green Finance Framework Project Management of Use of proceeds evaluation and Reporting External review proceeds selection Daimler’s green finance framework is developed to be in line with both the ICMA Green Bond Principles, as well as LMA and APLMA Green Loan Principles. It is Daimler
Slide 30: Project Focus: two independent businesses with maximum focus
Daimler Group Project Focus: We want to create two independent businesses with maximum focus Today Tomorrow Schematic representation Daimler AG Roadshow Presentation | FY 2020 30
Slide 31: Structure of the planned transaction
Daimler Group Structure of the planned transaction Separate listing of Daimler Truck Distribution of Daimler Truck shares held by Daimler to existing Daimler shareholders Majority in free-float, Daimler ceases control over DT but intends to retain a minority shareholding No additional investment nee
Slide 32: Project Focus: Mercedes-Benz, the pre-eminent luxury car business
Daimler Group Project Focus: Mercedes-Benz, the pre-eminent luxury car business Mercedes-Benz Leading Global “pure play” OEM with unique brand recognition automotive “Ambition 2039” amplifying clear commitment to Sustainability as strategic priority luxury brand Attractive captive financial services
Slide 33: Project Focus: Daimler Truck unlocking the full potential
Daimler Group Project Focus: Daimler Truck unlocking the full potential Daimler Truck Global Global market presence with market-leading brands in triad markets #1 Ready to seize opportunities in emerging markets CV player Leverage existing global platforms to turn scale into profit Lead in Powertrai
Slide 34: Daimler Truck AG majority spin-off: structure and details
Daimler Group Daimler Truck AG majority spin-off: Intended transaction structure and details Transfer of the majority of Daimler Truck to Daimler shareholders True independent governance of Attractive financial profiles Prime listing for Daimler Truck Daimler Truck for both companies Daimler Truck A
Slide 35: The listing of Daimler Truck is planned to be complete by year-end 2021
Daimler Group The listing of Daimler Truck is planned to be complete by year-end 2021 Decision & Extraordinary Listing of Announcement of Shareholder Meeting Daimler Truck Project Focus planned targeted February 3, 2021 May 2021 Fall 2021 End of 2021 Introductory Capital Market Capital Market Day Tr
Slide 36: Agenda
OK AGENDA I. RESULTS FY 2020 II. OUTLOOK FY 2021 III. STRATEGY 1. DAIMLER GROUP 2. MERCEDES-BENZ CARS & VANS 3. DAIMLER TRUCKS & BUSES 4. DAIMLER MOBILITY Roadshow Presentation | FY 2020 36
Slide 37: Strategy Mercedes-Benz Cars
Mercedes-Benz Cars & Vans Strategy Mercedes-Benz Cars Daimler AG Roadshow Presentation | FY 2020 37
Slide 38: We will unlock the potential of our sub-brands
Mercedes-Benz Cars & Vans We will unlock the potential of our sub-brands Daimler AG Roadshow Presentation | FY 2020 38
Slide 39: Strategic priority: Electrification of cars
Mercedes-Benz Cars & Vans Strategic priority: Electrification of cars Powertrain flexible architecture EQB EQC EQA EQB Dedicated large electric platform EQS EQE EQS-SUV EQE-SUV Dedicated compact & mid-size electric platform Daimler AG Roadshow Presentation | FY 2020 39
Slide 40: Strategic priority: Electrification of cars
Mercedes-Benz Cars & Vans Strategic priority: Electrification of cars > 20 BEV < 25 PHEV > 10 BEV > 25 PHEV xEV share >50% Increase of with very high xEV models* > 5 BEV > 20 PHEV flexibility 2021 2025 2030 Combined electric consumption: *MB xEV models, incl. EQV and T-Class, w/o smart 15.7 kWh/100
Slide 41: Our path to higher EV profitability
Mercedes-Benz Cars & Vans Our path to higher EV profitability Costs of batteries coming down faster than originally expected Other measures (€/kWh) Significantly below €100/kWh system level by mid-decade (cell/module/system) Simplified Modular Strategy will drive economies of scale Partnerships and
Slide 42: Aiming to take the lead in EV
Mercedes-Benz Cars & Vans Aiming to take the lead in EV Quality & Luxury Sublime World class Exceptional digital craftsmanship refinement ride & drive safety experience …WITH A TRUE MERCEDES-BENZ LUXURY EXPERIENCE – THE COMBINATION OF AESTHETICS AND TECHNOLOGY Daimler AG Roadshow Presentation | FY 2
Slide 43: Significant reduction of combustion engines
Mercedes-Benz Cars & Vans Significant reduction of combustion engines Reduced by -40% Reduced by -70% Reduction in variants of combustion engines 2020 2025 2030 Daimler AG Roadshow Presentation | FY 2020 43
Slide 44: The next step: MMA compact & mid-size car electric platform
Mercedes-Benz Cars & Vans The next step: MMA compact & mid-size car electric platform Exceptional range Very competitive e-drivetrain costs Benchmark high Luxury: Aiming to power charging offer best noise and comfort in the industry Highly energy efficient drivetrain & vehicle State-of-the-art digit
Slide 45: Our own proprietary operating system
Mercedes-Benz Cars & Vans Our own proprietary operating system Compelling luxury experience Scalable, lower variable costs Speed of execution Lower complexity Higher customer loyalty Recurrent revenues … WILL DELIVER AN EXTRAORDINARY CUSTOMER EXPERIENCE Daimler AG Roadshow Presentation | FY 2020 45
Slide 46: What exactly is MBOS?
Mercedes-Benz Cars & Vans What exactly is MBOS? And what will Mercedes-Benz develop? Vehicle software Cloud/ IoT Vehicle hardware Frontend Layer Sourced from suppliers 100% in-house 5 domains: but chipset specifications Applications Layer Drive train defined by Mercedes-Benz Mainly in-house* Autonom
Slide 47: MBUX Hyperscreen
Mercedes-Benz Cars & Vans MBUX Hyperscreen High-tech in a luxury shell: Biggest and most intelligent screen ever mounted in series-built Mercedes Mercedes-Benz will be personal assistant for driver and front passenger Learning Artificial Intelligence software: Operating concept, infotainment and veh
Slide 48: Strategy Mercedes-Benz Vans
Mercedes-Benz Cars & Vans Strategy Mercedes-Benz Vans Daimler AG Roadshow Presentation | FY 2020 48
Slide 49: Full range supplier in the commercial segment
Mercedes-Benz Cars & Vans Full range supplier in the commercial segment Daimler AG Roadshow Presentation | FY 2020 49
Slide 50: Electrification of the vehicle fleet
Mercedes-Benz Cars & Vans Electrification of the vehicle fleet – for both private and commercial use Daimler AG Roadshow Presentation | FY 2020 50
Slide 51: Our financial ambitions for MB AG 2025
Mercedes-Benz Cars & Vans Our financial ambitions for MB AG 2025 Market environment/revenues Contribution margin Profitable growth Fixed costs > -20% vs. 2019 > -20% vs. 2019 > -20% vs. 2019 CAPEX and R&D (CF impact) > -20% vs. 2019 > -20% vs. 2019 > -20% vs. 2019 RoS MB AG Mid to high single digit
Slide 52: Agenda
OK AGENDA I. RESULTS FY 2020 II. OUTLOOK FY 2021 III. STRATEGY 1. DAIMLER GROUP 2. MERCEDES-BENZ CARS & VANS 3. DAIMLER TRUCKS & BUSES 4. DAIMLER MOBILITY Roadshow Presentation | FY 2020 52
Slide 53: Strategy Daimler Trucks & Buses
Daimler Trucks & Buses Strategy Daimler Trucks & Buses Daimler AG Roadshow Presentation | FY 2020 53
Slide 54: Strategic priorities
Daimler Trucks & Buses Strategic priorities Product & portfolio • Increased focus on HD segment and increased commonization • Growing importance of connected trucks to provide real-time data and analytics to optimize customer operations Sustainability & CO2 • Battery Electric truck and fuel cell, bo
Slide 55: The new vocational Western Star truck
Daimler Trucks & Buses The new vocational Western Star truck Daimler AG Roadshow Presentation | FY 2020 55
Slide 56: Mercedes-Benz Trucks in China for China
Daimler Trucks & Buses Mercedes-Benz Trucks in China for China Joint venture Beijing Foton Daimler Automotive Co., Ltd. (BFDA) to produce and distribute Mercedes-Benz trucks in China The new Mercedes-Benz heavy-duty tractor models will get state-of-the-art Daimler Trucks technology and will be fully
Slide 57: Electric trucks technology
Daimler Trucks & Buses Electric trucks technology Proving capabilities of electric trucks and buses in customers use: More than 7 million kilometers driven Launch of eActros series production this year, integration of electric trucks into existing production set-up Testing Freightliner eCascadia and
Slide 58: Electric and hydrogen - the customer decides according to specific needs
Daimler Trucks & Buses Electric and hydrogen - the customer decides according to specific needs Battery Electric Truck: Hydrogen Truck: - Lower Weight, - Heavy Weight, - Shorter Distances - Long Distance Daimler AG Roadshow Presentation | FY 2020 58
Slide 59: Joining forces for hydrogen-powered H2
Daimler Trucks & Buses Joining forces for hydrogen-powered Daimler Truck & Rolls-Royce plan to cooperate on stationary fuel cell systems Rolls-Royce plc to develop fuel cell generators as MTU emergency generators for data centers Fuel cells to be supplied by planned joint venture of Planned Joint Ve
Slide 60: Autonomous
Daimler Trucks & Buses Autonomous DEVELOPMENT AND TESTING ON PUBLIC ROADS Daimler AG Roadshow Presentation | FY 2020 60
Slide 61: Dual strategy: collaborate on the chassis and offer digital products
Daimler Trucks & Buses As part of our dual strategy, we collaborate on the chassis and offer multiple digital products for our customers 3rd Party In-House Software: Trucks & Buses Hardware: Best in class L4 chassis Daimler AG Roadshow Presentation | FY 2020 61
Slide 62: Agenda
OK AGENDA I. RESULTS FY 2020 II. OUTLOOK FY 2021 III. STRATEGY 1. DAIMLER GROUP 2. MERCEDES-BENZ CARS & VANS 3. DAIMLER TRUCKS & BUSES 4. DAIMLER MOBILITY Roadshow Presentation | FY 2020 62
Slide 63: Strategy Daimler Mobility
Daimler Mobility Strategy Daimler Mobility Daimler AG Roadshow Presentation | FY 2020 63
Slide 64: Daimler Mobility Our Role
Daimler Mobility Our Role We create demand for vehicles and services. We promote and ensure customer loyalty. We contribute to Daimler’s financial success. We open up new opportunities through mobility services. WE MO>E YOU Daimler AG Roadshow Presentation | FY 2020 64
Slide 65: We are putting financial services front and center again
Daimler Mobility We are putting financial services front and center again ” We inspire our customers with best-in-class financial and mobility services – intuitive, flexible and fully digital. “ DMO ambition statement since July 2020 FLEET MANAGEMENT, RENTAL AND SUBSCRIPTION SOLUTIONS AS WELL AS MOB
Slide 66: Daimler Mobility Our Action Fields
Daimler Mobility Our Action Fields We offer attractive financing, leasing and insurance options to create a seamless customer experience across the product portfolio of Daimler AG and enable the transition towards electric mobility. Daimler Mobility is active in the field of fleet management through
Slide 67: Daimler FY 2020 Disclaimer
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 are used to identif