Mercedes-benz Group Ag · XETR:MBG
Mercedes-benz — Q3 2023 Earnings Presentation
104 slides from Mercedes-benz's earnings presentation, 2023
Slide 1: Roadshow Presentation Q3 2023
Roadshow Presentation Q3 2023 Mercedes-Benz Group AG
Slide 2: Agenda
AGENDA I. Results Q3 2023 II. Outlook FY 2023 III. Strategy 1. Mercedes-Benz Cars 1.1 Luxury Strategy 1.2 Electrification 1.3 Automated Driving & Operating System 2. Mercedes-Benz Vans 3. Mercedes-Benz Mobility
Slide 3: Mercedes-Benz Group: Key figures
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 -1% -8% -7% 37.7 5.3 +7% 37.2 5.2 4.8 4.9 28.5 -22% 26.6 3.0 2.3 Q3 2022 Q3 2023 Q3 2022 Q3 2023 Q3 2022 Q3 2023 Q
Slide 4: Mercedes-Benz Cars: Key messages
Mercedes-Benz Cars: Key messages Performance: Strong growth of G and Maybach; GLC and E-Class deliveries impacted by 48V supply constraint Profitability: Solid results and improved net pricing demonstrate resilience in challenging environment Products: Premiere of Concept CLA, all-new AMG GT Coupé a
Slide 5: Mercedes-Benz Cars: Top-End and electric vehicle unit sales
Mercedes-Benz Cars: Top-End and electric vehicle unit sales In thousand units -4% +21% 530 102 511 -11% Top-End 79 70 79* 85 9 70* 5 10 G 62 BEV 7 Maybach 37 Core 293 290 36 30 AMG thereof S 48 41 EQS 41 PHEV Entry ** 158 36 151 GLS EQS SUV Q3 2022 Q3 2023 Q3 2022 Q3 2023 Q3 2022 Q3 2023 Total MBC T
Slide 6: Mercedes-Benz Cars: Financials
Mercedes-Benz Cars: Financials Sales Revenue EBIT adj. CFBIT adj. in thousand units in billion euros in billion euros in billion euros -4% -4% 530.4 510.6 28.2 -18% 27.1 4.1 -38% 3.6 3.4 2.2 75.4* -1% 74.6* Q3 2022 Q3 2023 Q3 2022 Q3 2023 Q3 2022 Q3 2023 Q3 2022 Q3 2023 * ASP in thousand euros excl.
Slide 7: Mercedes-Benz Cars: Q3 2023 EBIT & RoS
Mercedes-Benz Cars: Q3 2023 EBIT & RoS In million euros Gross Profit -829 Net pricing 4,034 47 4,081 -101 -329 50 37 6 13 3,357 3,312 others -399 -45 RoS: RoS: 14.3% 14.5% RoS: RoS: Improved net pricing Lower raw material prices 12.4% 12.2% Lighter product mix in Q3 Decreased unit sales due to 48V s
Slide 8: Mercedes-Benz Cars: EBIT to CFBIT
Mercedes-Benz Cars: EBIT to CFBIT In million euros 3,312 120 -492 1,512 2,148 47 2,195 -376 CCR: CCR: 0.6 0.7 -1,928 t/o • Inventories - 909 • Trade receivables - 79 t/o • Legal proceedings + 66 • Trade payables + 496 • Result at-equity BBAC - 539 • M&A - 19 Net investments Depreciation and CFBIT EB
Slide 9: Mercedes-Benz Vans: Key messages
Mercedes-Benz Vans: Key messages Performance: Stable sales in core regions; eVans more than doubled Profitability: Strong results with solid net pricing and healthy product mix outweighing supply chain related cost increases Products: Preview of new EQV, V-Class, V-Class Marco Polo as well as eVito
Slide 10: Mercedes-Benz Vans: Electric vehicle unit sales
Mercedes-Benz Vans: Electric vehicle unit sales In thousand units +1% +105% 104 105 6.3 thereof 3.1 thereof Q3 2022 Q3 2023 Q3 2022 Q3 2023 Total MB Vans Battery electric vehicles Share in % of volume 3% 6% Roadshow Presentation Q3 2023 10
Slide 11: Mercedes-Benz Vans: Financials
Mercedes-Benz Vans: Financials Sales Revenue EBIT adj. CFBIT adj. in thousand units in billion euros in million euros in million euros +1% +15% +96% 104.0 105.1 4.9 1,035 +36% 4.3 743 546 529 Q3 2022 Q3 2023 Q3 2022 Q3 2023 Q3 2022 Q3 2023 Q3 2022 Q3 2023 Roadshow Presentation Q3 2023 11
Slide 12: Mercedes-Benz Vans: Q3 2023 EBIT & RoS
Mercedes-Benz Vans: Q3 2023 EBIT & RoS In million euros Gross Profit +315 546 -24 -207 -18 -8 743 -37 715 -56 -28 49 546 497 RoS: RoS: RoS: Strongly improved net pricing 15.0% 14.5% RoS: 12.7% Significantly improved product mix 11.5% Lower raw material prices Higher inflation and supply chain relate
Slide 13: Mercedes-Benz Vans: EBIT to CFBIT
Mercedes-Benz Vans: EBIT to CFBIT In million euros 55 1,035 159 980 134 0 104 715 -132 CCR: CCR: 1.4 1.4 t/o • Inventories + 21 • Trade receivables + 90 • Trade payables + 24 • Legal proceedings + 55 Net investments Depreciation and CFBIT EBIT Change in working Net financial CFBIT in pp&e and amorti
Slide 14: Mercedes-Benz Mobility: Key messages
Mercedes-Benz Mobility: Key messages Business: Competitive market environment and continued support of BEV ramp-up with positive IRA effect on penetration rate in US Performance: Interest margin impacted by higher interest rates and elevated cost of credit risk driven by macroeconomic environment St
Slide 15: Mercedes-Benz Mobility: Financials
Mercedes-Benz Mobility: Financials New Business Contract Volume EBIT adj. in billion euros in billion euros in million euros +7% +2% 15.2 133.8 131.4 14.3 -37% 577 363 Q3 2022 Q3 2023 06/30/2023 09/30/2023 Q3 2022 Q3 2023 Roadshow Presentation Q3 2023 15
Slide 16: Mercedes-Benz Mobility: Q3 2023 EBIT & RoE
Mercedes-Benz Mobility: Q3 2023 EBIT & RoE In million euros 577 0 577 -37 -21 68 363 0 363 2 RoE: RoE: -190 15.8% 15.8% -36 Interest margin impacted by higher refinancing cost and increased competition RoE: RoE: Ramp-up of charging business 10.4% 10.4% Higher cost of credit risk mainly driven by cha
Slide 17: Mercedes-Benz Group: Group EBIT
Mercedes-Benz Group: Group EBIT In million euros 5,196 148 5,344 197 312 4,915 4,842 -73 -724 -214 • Legal proceedings + 97 • M&A transactions + 51 • Legal proceedings -73 EBIT EBIT EBIT Mercedes-Benz Mercedes-Benz Mercedes-Benz EBIT Adjustments adjusted Reconciliation adjusted Adjustments Q3 2022 C
Slide 18: Reconciliation from CFBIT to Free Cash Flow
Mercedes-Benz Group: Reconciliation from CFBIT to Free Cash Flow* In million euros 980 102 2,449 139 2,347 2,148 133 43 -1,096 • Legal proceedings + 121 • M&A - 19 Free cash flow Free cash flow Mercedes-Benz Mercedes-Benz Income taxes Effects from Other reconciling (industrial Interest received (ind
Slide 19: Mercedes-Benz Group: Net Industrial Liquidity
Mercedes-Benz Group: Net Industrial Liquidity In billion euros 1.6 2.9 0.2 0.9 28.5 25.8 -0.3 -2.1 -0.5 Free cash flow industrial business Q3 2023: € 2.3 billion Additions to Net Industrial Earnings and Depreciation and Investments in Net Industrial Working capital property, plant, Share Liquidity o
Slide 20: Agenda
AGENDA I. Results Q3 2023 II. Outlook FY 2023 III. Strategy 1. Mercedes-Benz Cars 1.1 Luxury Strategy 1.2 Electrification 1.3 Automated Driving & Operating System 2. Mercedes-Benz Vans 3. Mercedes-Benz Mobility
Slide 21: Mercedes-Benz Divisional Guidance 2023
Mercedes-Benz Divisional Guidance 2023 ASSUMPTION With regional differences the overall growth momentum of the world economy is likely to remain rather subdued in the rest of the year. Above all, the still above-average inflation in many places and the persistently restrictive monetary policy of key
Slide 22: Mercedes-Benz Group Guidance 2023
Mercedes-Benz Group Guidance 2023 ASSUMPTION With regional differences the overall growth momentum of the world economy is likely to remain rather subdued in the rest of the year. Above all, the still above-average inflation in many places and the persistently restrictive monetary policy of key cent
Slide 23: Roadshow Presentation Q3 2023
Roadshow Presentation Q3 2023 23
Slide 24: Agenda
AGENDA I. Results Q3 2023 II. Outlook FY 2023 III. Strategy 1. Mercedes-Benz Cars 1.1 Luxury Strategy 1.2 Electrification 1.3 Automated Driving & Operating System 2. Mercedes-Benz Vans 3. Mercedes-Benz Mobility
Slide 25: Three levers to sustainably improve our cash flow
Three levers to sustainably improve our cash flow “Improve “Establish “Free up cash” cash flow steering” cash flow culture” − Reduction of working capital: − Creating more − Cash flow as part of the from purchase to production transparency and Mercedes-Benz DNA: from to sales visibility management t
Slide 26: Agenda
AGENDA I. Results Q3 2023 II. Outlook FY 2023 III. Strategy 1. Mercedes-Benz Cars 1.1 Luxury Strategy 1.2 Electrification 1.3 Automated Driving & Operating System 2. Mercedes-Benz Vans 3. Mercedes-Benz Mobility
Slide 27: The original and most valuable luxury car brand
Mercedes-Benz – The original and most valuable luxury car brand Heritage: Formula 1: Mercedes-Benz is built on constant reinvention The power of F1 for our brand 37% female 54% under 35 823 m fans Source: Interbrand Best Global Brands 2021 Roadshow Presentation Q3 2023 27
Slide 28: Luxury and sustainability belong together
Luxury and sustainability belong together Therefore, we follow an ambitious decarbonization strategy 2022 2030 2039 Net carbon-neutral Mercedes-Benz Cars is ready to go Net carbon-neutral vehicle production all electric new car fleet wherever market conditions allow along entire value chain in our o
Slide 29: Approaching our customers
Approaching our customers 20 80% 25% Roadshow Presentation Q3 2023 29
Slide 30: Exclusivity: Significant progress with top-end vehicles
Exclusivity: Significant progress with our top-end vehicles and increasingly electric with even more conquest potential +27% ~60% Expected growth of top-end vehicle share Top-end vehicle unit sales 2022 vs. 2019 of total Mercedes-Benz sales 2019-2026 Roadshow Presentation Q3 2023 30
Slide 31: Our game plan: generate returns consistent with luxury status
Our game plan: generate returns consistent with our luxury status - Focus on pricing power - Drive ASP higher - Optimise product portfolio - Find a superior operating equilibrium - Tap full potential of top-end segment - Structurally higher profitability and improved - Exit lower margin products mar
Slide 32: The power of pricing is part of our strategy
The power of pricing is part of our strategy Key Levers - Superior brand drives pricing power - Strong products enable ambitious initial price setting versus competition - Sustainable price escalation - Tight discounts: from sales push to lifecycle management - Direct sales model allows grip on pric
Slide 33: Reshaped model portfolio will drive profitable sales growth
Reshaped model portfolio will drive profitable sales growth Change of Mercedes-Benz segment share in 2.3 m cars 1.9 m cars Car Sales 2026 vs. 2019 Around Top-End +60% Core 0% Entry -25% 2019 2021 2026 Roadshow Presentation Q3 2023 33
Slide 34: Entry Segment – Focus & Elevate
Entry Segment – Focus & Elevate - Elevate to Entry Luxury 680k 570k - Product range refocused on fewer and more upscale portfolio positions: MMA platform with CLA, CLA Shooting -25% Brake, GLA and GLB - The new entrance point of the portfolio is being redefined with the next around +20% significantl
Slide 35: Core Segment – Grow & Refine
Core Segment – Grow & Refine - Core Luxury going electric on an accelerated timescale, leveraging EVA 1.350k 1.030k (EQE, EQE-SUV) and then MB.EA architectures flat - Brand-new GLC Coupé, CLE Coupé and E-Class Saloon & Estate launched in 2023 - Protect healthy margins on the way to around +25% regul
Slide 36: Top-End Segment – Expand & Enhance
Top-End Segment – Expand & Enhance - Starting point: Over 300k top-end luxury units with ASP of > € 100k and 250k 305k top-end profitability - Sustainable segment growth +60% - Desirable products fueling growth: EQS, EQS-SUV, EQS-SUV Maybach, SL, GT, AMG.EA around +15% regular price adjustments - Ul
Slide 37: Changing our economic equation
Changing our economic equation - Enhance ROIC: control the denominator while raising the numerator (operating and cash margins) - Drive growth through high utilisation, ‚reverse auction‘ of available capacity to build the most profitable models - 75% of capital allocation focused on top-end and core
Slide 38: Financial ambitions for Mercedes-Benz Cars in 2025
Our financial ambitions for Mercedes-Benz Cars in 2025: structurally higher profitability and lower margin volatility Market level, competitive actions, commodity and raw material markets > -20% vs. 2019 > -20% vs. 2019 > -20% vs. 2019 > -20% vs. 2019 > -20% vs. 2019 > -20% vs. 2019 approx. 8%/10% a
Slide 39: Bottom line
Bottom line We cannot control macro- or world events. But we are redesigning & repositioning Mercedes-Benz to ensure a structurally more profitable company. Roadshow Presentation Q3 2023 39
Slide 40: Agenda
AGENDA I. Results Q3 2023 II. Outlook FY 2023 III. Strategy 1. Mercedes-Benz Cars 1.1 Luxury Strategy 1.2 Electrification 1.3 Automated Driving & Operating System 2. Mercedes-Benz Vans 3. Mercedes-Benz Mobility
Slide 41: Proportional CO2 impact along the value chain
Supply chain Production & logistics Well-to-tank Tank-to-wheel End-of-life TODAY’S PROPORTIONAL CO2 IMPACT ALONG THE VALUE CHAIN 49.7 tCO2 in 2020 - 47.8 tCO2 in 2022 - more than half per decade Roadshow Presentation Q3 2023 41
Slide 42: Wherever market conditions allow
* Wherever market conditions allow Roadshow Presentation Q3 2023 42
Slide 43: At the end of the decade, our focus will be on BEV only
At the end of the decade, our focus will be on BEV only By 2025, our customers will be able to choose an all-electric alternative for every model we make 2020 EQV It’s our ambition to drive the plug-in hybrid & BEV share 2021 EQV of passenger cars up to 50% by mid-decade. By the end of the decade, M
Slide 44: The EQS: The first electric vehicle in our Top-End segment
The EQS: The first electric vehicle in our Top-End segment Launched in 2021 WLTP ranges of up to 780 kilometres1 With its Cd figure2 from as low as 0.20 the EQS is the world's most aerodynamic production car. Drive powers from 245 to 385 kW. A performance version with up to 560 kW is being planned P
Slide 45: The EQE: The new business avant-garde
The EQE: The new business avant-garde Global launch: mid-2022 Depending on the on-board equipment and configuration, WLTP operating ranges of up to 654 kilometres* A lithium-ion battery with 10 cell modules is installed In 15 minutes it is possible to charge the EQE with up to 35.55 kWh – this corre
Slide 46: The EQS SUV: Redefined SUV luxury
The EQS SUV: Redefined SUV luxury Launch: Second half of 2022 WLTP ranges of up to 671 kilometres1 Lithium-ion battery with up to 12 cell modules DC fast charging system with a charging capacity of up to 200 kW In 15 minutes, power corresponding to a range of up to 250 kilometres2 can be recharged o
Slide 47: EQE SUV: High-tech and luxury meet versatility
EQE SUV: High-tech and luxury meet versatility Launch: First half of 2023 The multi-purpose variant of the EQE business saloon WLTP ranges of up to 590 kilometres1 AMG Lithium-ion battery of 10 cell modules DC charging system with a charging capacity of up to 170 kW In 15 minutes, power correspondin
Slide 48: Mercedes-Maybach EQS SUV: The brand's first all-electric model
Mercedes-Maybach EQS SUV: The brand’s first all-electric model Premiere: April 2023 Redefining automotive excellence in the age of electro mobility Maximum luxury and comfort with a cocooning effect in the rear Extraordinary driving experience with Maybach driving programme and maximum noise comfort
Slide 49: Strategic target of our platform logic: all signs on electric
Strategic target of our platform logic: all signs on “electric “ THREE STEPS TO ELECTRIFY OUR PORTFOLIO today EQA EQB EQV EQE EQE SUV EQS EQS SUV Mercedes-Maybach EQE AMG EQE SUV AMG EQS AMG EQS SUV CLA CLA Shooting GLA GLB Brake MB.EA AMG.EA VAN.EA 1 “Electric First“ Skateboard, intelligent module
Slide 50: Concept CLA Class and Modular Architecture
Elevating sustainability with the Concept CLA Class and the Mercedes-Benz Modular Architecture Next-generation Mercedes-Benz Electric Drive Unit (MB.EDU) with up to 93% efficiency from battery to wheels in long-distance driving Consumption of ~12 kWh/100 km (~5.2 mi/kWh) 15 min charging Range of mor
Slide 51: On the way to an all-electric future
We are on the way to an all-electric future - MMA followed by three “electric only” architectures mid-decade MEDIUM AND FULL-SIZE CARS PERFORMANCE ELECTRIC NEW ERA Scalable modular system for VEHICLES For electric vans and light our EV portfolio Architecture commercial vehicles Roadshow Presentation
Slide 52: Together with partners, we expand battery cells and systems
Together with our partners, we will expand our activities in battery cells and systems Needed battery volume for all car lines Our target: Capacity of more than 200 Gigawatt hours by 2023 200 Gwh Local-for-local strategy with partners and new cell factories around the world Envision AESC − Cell prod
Slide 53: By joining ACC, we build a European battery champion
By joining ACC, we build a European battery champion We take a one third stake in Automotive Cells Company (ACC). Our goal: Joint development and production of cells and modules in Europe. ACC will reach a capacity of at least 120 Gigawatt hours in Europe by the end of the decade. ACC will supply Me
Slide 54: Developing the next generation battery cell technology
Developing the next generation battery cell technology High-Silicon Anode: increasing energy density Expected energy density by using silicon-carbon composite in the anode Solid-State: pushing energy density beyond limits of conventional lithium-ion cell, doubling energy capacity and Solid-State red
Slide 55: In-house electric drive units are a key part of our strategy
In-house electric drive units are a key part of our strategy Ultra-high performance axial flux motors for our forthcoming AMGs. Axial flux technology allows for unmatched power density, performance, acceleration. Electric motor and power electronics company YASA Ltd. is a fully owned subsidiary of M
Slide 56: VISION EQXX – taking electric range and efficiency to a new level
VISION EQXX – taking electric range and efficiency to an entirely new level Efficiency means achieving more from less. The VISION EQXX is packed with efficiency improvements that push the envelope with a mixture of advanced technology and talented teamwork. Following its record-breaking maiden drive
Slide 57: Global branded high-power charging network and Tesla Supercharger access
Mercedes-Benz to launch global branded high-power charging network and gains access to Tesla Supercharger network in North America More than 10,000 high-power chargers worldwide by the end of the decade Convenient locations with amenities nearby Accessible for drivers of all car brands Pre-booking a
Slide 58: Joining initiative for high-powered charging network in North America
Mercedes-Benz joining initiative to create a leading high-powered charging network across North America Seven major global automakers – BMW Group, General Motors, Honda, Hyundai, Kia, Mercedes-Benz Group, Stellantis NV – will create an unprecedented new charging network joint venture that will signi
Slide 59: BEV cost reduction focus
BEV cost reduction focus Key levers Variable costs per unit* Material and manufacturing cost reduction of 1% until 2025 Further cost reduction on electric drive train from 2025 to 2030 Decreasing cell costs and common battery platforms Scalable modular electric only architectures * schematic and bef
Slide 60: Radical shift in capital allocation – from EV-first to EV-only
Radical shift in capital allocation – from EV-first to EV-only Key levers CAPEX and R&D investments* Additional investments for new BEV architecture MB.EA, AMG.EA, VAN.EA and intensified battery footprint Radically reduced non-BEV investments Capex share of investments decreasing 2019 2025 >20% inve
Slide 61: Fixed cost reduction targets stepped up
Fixed cost reduction targets stepped up Key levers Fixed cost development* Covid 2020: significant fixed cost reduction 2021: temporary effects replaced by permanent measures >20% fixed cost reduction until 2025 vs. 2019 2025ff: digitization of all business areas 2019 2025 2030 After 2025 further ne
Slide 62: We aim to at least halve CO2 emissions per passenger car
We aim to at least halve CO₂-emissions per passenger car in this decade* 100% More than half per decade End-of-life Use phase Use phase Production & Production & logistics logistics Supply chain & Supply chain raw materials 2020 2030 * when market conditions allow Roadshow Presentation Q3 2023 62
Slide 63: Sustainable supply chains for focus materials
We create sustainable supply chains for focus materials via technology changes ~90% Steel – CO2 reduction: optimised of our annual purchasing volume is supplied by companies that follow our conventional ambition to become net carbon-neutral Base green electricity Aluminium sheet/cast H2GS Thermoplas
Slide 64: Own plants world-wide producing 100% net carbon-neutral
All of our own Mercedes-Benz plants world-wide are producing 100% net carbon-neutral Together with our EV strategy, Mercedes-Benz global production network net carbon-neutral production is a key driver of Ambition 2039 Since the beginning of 2022, production sites worldwide fully owned by Mercedes-B
Slide 65: Factory 56 serves as a blueprint for our production network
Our Factory 56 serves as a blueprint for our global Mercedes-Benz production network At our Factory 56 in Sindelfingen producing more sustainable is already reality The innovative energy concept includes a photovoltaic system, a DC power grid and energy storage based on reused vehicle batteries Self
Slide 66: Establishing a green and net carbon-neutral supply chain
We are establishing a green and net carbon-neutral supply chain Raw materials In the future, raw materials for battery Processed components only from IRMA-certified mines materials & components Cooperation with strategic partners, e. g. for lithium Recycling hydroxide with German-Canadian Rock Tech
Slide 67: Closing the loop on batteries through sustainable recycling
Mercedes-Benz is closing the loop on batteries through sustainable recycling Own net carbon-neutral recycling plant in Kuppenheim, southern Germany start operations in 2024 with the first phase - shredding batteries - soon >96% Hydrometallurgy: Innovative technology increases recovery rate to more t
Slide 68: Re-shape Re-skill Re-charge
Our people plan focuses on a just transition for our employees 3,000 Re-shape positions filled with Individual target plans for our entities, plants Realignment of our global production network towards electric vehicles and streamlining our organisation software engineers and functions in a responsi
Slide 69: Agenda
AGENDA I. Results Q3 2023 II. Outlook FY 2023 III. Strategy 1. Mercedes-Benz Cars 1.1 Luxury Strategy 1.2 Electrification 1.3 Automated Driving & Operating System 2. Mercedes-Benz Vans 3. Mercedes-Benz Mobility
Slide 70: Conditionally automated driving: DRIVE PILOT
Conditionally automated driving SAE-Level 3: DRIVE PILOT gives back time to customers Mercedes-Benz is the first car company in the world to meet the UN-R157 regulation for conditionally automated driving. Since May 2022, DRIVE PILOT can be ordered in Germany for variants of the S-Class and the EQS
Slide 71: Driving Assistance Package with DRIVE PILOT
Driving Assistance Package with DRIVE PILOT Parking Package with 360°-Camera Roadshow Presentation Q3 2023 71
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Slide 73: Operating system principles
1. Purpose-built and open to partners 2. Personalized services through one unique Mercedes me ID 3. Privacy-by-design from th e very beginning 4. Full over-the-air updatability and decoupled software and hardware releases Roadshow Presentation Q3 2023 73
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Slide 89: BBAC (Beijing Benz Automotive Cooperation) Joint Venture
BBAC (Beijing Benz Automotive Cooperation) Joint Venture − BBAC is based on a trustful partnership with our long-term partner BAIC − BBAC is the largest Mercedes-Benz production facility in the world with local R&D for passenger cars. − Product ranges from Compact, Midsize, and Large-mid Segment (E-
Slide 90: Agenda
AGENDA I. Results Q3 2023 II. Outlook FY 2023 III. Strategy 1. Mercedes-Benz Cars 1.1 Luxury Strategy 1.2 Electrification 1.3 Automated Driving & Operating System 2. Mercedes-Benz Vans 3. Mercedes-Benz Mobility
Slide 91: Mercedes-Benz Vans Strategy
Mercedes-Benz Vans Strategy WE OFFER THE WORLD’S MOST DESIRABLE VANS AND SERVICES TARGET EMBRACE LEAD LOWER premium segments and customers and in electric total cost base and focus on profitable grow lifetime drive and digital improve industrial growth revenues experience footprint Guided by economi
Slide 92: The Van business is commercially attractive
The Van business is commercially attractive M A RKET S P L A YERS Strong and growing Stable and concentrated Development LCV-market Top-3 players in Europe +25% expected in core markets, dominate approx. 70% from 2022 through to 2030* of the market C US T O M ERS P RO DUC T S Knowledgeable and loyal
Slide 93: Our products keep the world running
Our products keep the world running Private Usage Services & Crafts Rental Deployment & Recreational Manufacturing Municipal Vehicles Private 20%* Commercial 80% CEP & Logistics Trade & eGrocery Construction People Mover Ordered according to sales volume of Mercedes Benz Vans in Germany 2021 * Priva
Slide 94: Mercedes-Benz Vans enjoys a unique position
Mercedes-Benz Vans enjoys a unique position Exceptional top-end Lead the industry product identity to all-electric future Best mix, strongest pricing, Grow top-end positioning highest residuals even further Favourable channel mix Expand profitable growth in U.S. and China Balanced market coverage Ad
Slide 95: Net carbon-neutral fleet of new vans
Net carbon-neutral fleet of new vans 2022 2026 2030 2039 Net carbon-neutral up to 20% BEV share > 50% BEV share* Net carbon-neutral production at our own fleet of new vans over plants worldwide the entire life cycle SUPPLY CHAIN & PRODUCTION & WELL-TO-TANK TANK-TO-WHEEL END OF LIFE RAW MATERIALS LOG
Slide 96: VAN.EA
Transition plan towards “electric only VAN.EA 2030 2026 Roadshow Presentation Q3 2023 96
Slide 97: Electrification roadmap
Electrification roadmap 2010 2023 2026 2030 Introduction Electrification of every Van Launch of > 50% share of battery of first electric Vito segment & presentation of all-new, electric-only electric vehicles* new eSprinter architecture VAN.EA * Wherever market conditions allow, target Roadshow Pres
Slide 98: Raising our ambitions level: tackling costs at all levels
Raising our ambitions level: tackling costs at all levels C O M P AN Y O P ERAT ION S PRO DUCT S FIXED COSTS HOURS PER VEHICLE (HPV) PORTFOLIO VARIANTS -20%* -25%* -30%* * By mid-decade vs. 2019 Roadshow Presentation Q3 2023 98
Slide 99: Our financial ambitions for Mercedes-Benz Vans
Our financial ambitions for Mercedes-Benz Vans Guidance 15 11.2 13 8.3 6.0 ROS adjusted 1.9 2019 2020 2021 2022 2023 mid-decade end of decade CCR adjusted 1.1 0.7 - 0.9 slightly lower level of 2022 Roadshow Presentation Q3 2023 99
Slide 100: Agenda
AGENDA I. Results Q3 2023 II. Outlook FY 2023 III. Strategy 1. Mercedes-Benz Cars 1.1 Luxury Strategy 1.2 Electrification 1.3 Automated Driving & Operating System 2. Mercedes-Benz Vans 3. Mercedes-Benz Mobility
Slide 101: Mercedes-Benz Mobility Strategy
Mercedes-Benz Mobility Strategy Roadshow Presentation Q3 2023 101
Slide 102: Mercedes-Benz Mobility Role & Contribution
Mercedes-Benz Mobility Role & Contribution As an integral part of Mercedes-Benz, we secure the company’s position as a global leader by leveraging customer data and insights generated through our numerous touchpoints with our clients. We retain them in the Mercedes-Benz ecosystem and offer services
Slide 103: Mercedes-Benz Mobility Product Range
Mercedes-Benz Mobility Product Range As integral part of the Mercedes-Benz customer journey Financing | Leasing | Insurance | Fleet Management | Rental & Subscription | Charging Ecosystem | Payment Services Roadshow Presentation Q3 2023 103
Slide 104: Disclaimer
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 forward-lookin