Slide 1: Q1 2024 Results Analyst / Investor Presentation
Q1 2024 RESULTS ANALYST / INVESTOR PRESENTATION Christian Levin, CEO Dr. Michael Jackstein, CFO & CHRO Munich, 26/4/2024
Slide 2: Agenda
Q1 2024 results 2 Investor Relations 26/4/2024 AGENDA 1. Key results & highlights 2. Review of financial performance 3. Full year 2024 outlook 4. Backup
Slide 3: Disclaimer
Q1 2024 results 3 Investor Relations 26/4/2024 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 Volkswagen AG
Slide 4: Key Results & Highlights
Q1 2024 results 4 Investor Relations 26/4/2024 KEY RESULTS & HIGHLIGHTS
Slide 5: A Strong Start into 2024 for Traton
Q1 2024 results 5 Investor Relations 26/4/2024 A STRONG START INTO 2024 FOR TRATON Q1 2024 Vehicles Sales Adjusted Net cash flow Earnings per share sold revenue return on sales TRATON Operations 81,148 €11.8 bn 9.4% €438 mn €1.50 -4% YoY +5% YoY +1.0 pp YoY -€299 mn YoY1 +€0.39 YoY 1 Q1 2023 includi
Slide 6: We Accelerate the Transformation Journey
Q1 2024 results 6 Investor Relations 26/4/2024 WE ACCELERATE THE TRANSFORMATION JOURNEY Highlights TRATON establishes One Group R&D High demand for Navistar MAN launches a small series of Scania adds more solutions to its Partnership with Plus takes TRATON organization to efficiently drive Internati
Slide 7: We Continue to Capitalize on Our High Order Book
Q1 2024 results 7 Investor Relations 26/4/2024 WE CONTINUE TO CAPITALIZE ON OUR HIGH ORDER BOOK ― Truck unit sales as expected with a slight Incoming orders & Unit sales (k units) decline year-on-year due to Europe and North America Incoming orders Unit sales ― Overall truck demand remains solid wit
Slide 8: Review of Financial Performance
Q1 2024 results 8 Investor Relations 26/4/2024 REVIEW OF FINANCIAL PERFORMANCE
Slide 9: Sales Revenue Benefiting from Mix Effects and Pricing
Q1 2024 results 9 Investor Relations 26/4/2024 SALES REVENUE BENEFITING FROM MIX EFFECTS AND PRICING … ― Unit sales at solid, normalized level Unit sales (k units) Sales revenue (€ bn) ― Favorable product and market mix Vehicle Services business ― Better unit price realization ― Continued high custo
Slide 10: Efficiency Gains Leading to Record Margin Level
Q1 2024 results 10 Investor Relations 26/4/2024 … TOGETHER WITH EFFICIENCY GAINS LEADING TO RECORD MARGIN LEVEL ― Increased sales revenue per unit Adjusted operating result (€ mn) Adjusted return on sales (%) ― Improved cost structure, despite lower production capacity utilization ― Positive impact
Slide 11: Strong Q1 2024 with Different Growth Dynamics
Q1 2024 results 11 Investor Relations 26/4/2024 STRONG Q1 2024 WITH DIFFERENT GROWTH DYNAMICS TRATON TRATON Operations Financial Services Q1 Sales revenue 11,477 4,879 3,516 2,430 773 453 24 (in € mn, YoY) (+5%) (+17%) (+3%) (-11%) (+9%) (+29%) Adjusted RoS 10.4% 14.3% 7.9% 5.0% 11.0% 13.2% (Return
Slide 12: Net Debt Further Reduced Despite Higher Working Capital
Q1 2024 results 12 Investor Relations 26/4/2024 NET DEBT FURTHER REDUCED DESPITE HIGHER WORKING CAPITAL ― Net cash flow of TRATON Operations driven by: Net financial debt bridge, Q1 24 (€ mn) Net debt ― improved operating performance reduction by ― seasonally weaker working capital, with a -€296 mn
Slide 13: Full Year 2024 Outlook
Q1 2024 results 13 Investor Relations 26/4/2024 FULL YEAR 2024 OUTLOOK
Slide 14: Optimistic Outlook for 2024 Confirmed
Q1 2024 results 14 Investor Relations 26/4/2024 OPTIMISTIC OUTLOOK FOR 2024 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 revenue (
Slide 15: Truck Demand Remains Solid While Markets Are Normalizing
Q1 2024 results 15 Investor Relations 26/4/2024 TRUCK DEMAND REMAINS SOLID WHILE MARKETS ARE NORMALIZING 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
Slide 16: Traton – Gaining Pace on Our Transformation Journey
Q1 2024 results 16 Investor Relations 26/4/2024 TRATON – GAINING PACE ON OUR TRANSFORMATION JOURNEY Transformation execution with attractive return On track to Resilience materially Positioned for tangible Leading position profile best-in-class improved after upside with clear in a growing performan
Slide 17: Save the Date: Capital Markets Day October 1, 2024
SAVE THE DATE CAPITAL MARKETS DAY OCTOBER 1, 2024 MUNICH, GERMANY
Slide 18: Backup
Q1 2024 results 18 Investor Relations 26/4/2024 BACKUP
Slide 19: Traton Operations – Incoming Orders
Q1 2024 results 19 Investor Relations 26/4/2024 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 TRATON Operations 54,161 33,270 58,502 70,318 216,251 81,742 89,20
Slide 20: Traton Operations – Unit Sales
Q1 2024 results 20 Investor Relations 26/4/2024 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 TRATON Operations 45,990 31,748 49,922 62,520 190,180 60,315 66,135 68,972 7
Slide 21: Traton Group – Sales Revenue
Q1 2024 results 21 Investor Relations 26/4/2024 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 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 11,321 12,697 4
Slide 22: Traton Group – Operating Result & Return on Sales
Q1 2024 results 22 Investor Relations 26/4/2024 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 TRATON GROUP 155 301 186 -248 393 355 306 -52 955 1,564 834 966 895 1,068 3,763 1,
Slide 23: Traton Group – Adjusted Operating Result & Adjusted Return on Sales
Q1 2024 results 23 Investor Relations 26/4/2024 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 TRATON GROUP 516 612 195 277 1,599 402 396 549 724 2,071 93
Slide 24: Traton Group – Adjustments
Q1 2024 results 24 Investor Relations 26/4/2024 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 Operating result 81 155 301 186 -248 393 355 306 -52 955 1,564 834 966 895 1,068 3,763 1,057 Scania V&S
Slide 25: Traton Operations – Cash and Liquidity
Q1 2024 results 25 Investor Relations 26/4/2024 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 Net cash flow 753 188 -788 786 938 139 -1,534 61 709 -625 737 1,018 649 1,191 3,594 438 Cash
Slide 26: Traton Group – Debt Maturity Profile
Q1 2024 results 26 Investor Relations 26/4/2024 TRATON GROUP – DEBT MATURITY PROFILE Major financings Maturity profile (€ bn)1 ― Total of €10.3 bn TFL Bonds (tranches of 1.75y to 12y) 8.0 ― €350 mn Schuldschein (tranches of 5y and 7y) 7.0 ― €4.5 bn syndicated RCF (undrawn) 6.1 6.0 5.0 5.3 5.0 Debt o
Slide 27: Investor Relations Team
Q1 2024 results 27 Investor Relations 26/4/2024 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 Fab
Slide 28: Upcoming Events
Q1 2024 results 28 Investor Relations 26/4/2024 UPCOMING EVENTS ― 2024/06/13 2024 Annual General Meeting ― 2024/07/26 2024 Half-Year Financial Report ― 2024/10/01 TRATON Capital Markets Day ― 2024/10/28 9M 2024 Interim Statement TRATON SE Hanauer Strasse 26 80992 Munich Germany www.traton.com invest