Mercedes-benz Group Ag · XETR:MBG
Mercedes-benz — Q2 2022 Earnings Presentation
28 slides from Mercedes-benz's earnings presentation, Jul 27, 2022
Slide 1: Capital Market Presentation Q2 2022
Willkommen | Welcome Capital Market Presentation Q2 2022 Mercedes-Benz Group AG Stuttgart, July 27, 2022
Slide 2: Review Q2 2022
Classified as MB Internal Review Q2 2022 2
Slide 3: Mercedes-Benz Group: Key figures
Classified as MB Internal 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 +7% -9% 36.4 21.0 34.1 19.1 +6% +8% 4.6 4.9 4.4 4.6 -34% 2.2 1.4 Q2 2021 Q2 2022 Q2 202
Slide 4: Minimizing the impact of limited gas supply
Classified as MB Internal Mercedes-Benz Group: Minimizing the impact of limited gas supply Mercedes-Benz is a global company. Risk of bottlenecks in gas supply existing in Europe. Gas supply at our plants currently stable First measures executed to reduce consumption; further significant reduction p
Slide 5: Mercedes-Benz Cars: Key messages
Classified as MB Internal Mercedes-Benz Cars: Key messages Performance: Demonstrated resilience in challenging environment, vigilance towards macroeconomic & geopolitical developments Profitability: Net pricing positive & healthy mix Products: GLC world premiere, EQE start of sales, EQS SUV producti
Slide 6: Cars: Preparing our production network for our all-electric portfolio
Classified as MB Internal Mercedes-Benz Cars: Preparing our production network for our all-electric portfolio Decision reached on new production setup in close cooperation with employee representatives Foundation for rapid, efficient & flexible scaling of next-generation electric vehicles Models of
Slide 7: Cars: Top-End Luxury and electric vehicle unit sales
Classified as MB Internal Mercedes-Benz Cars: Top-End Luxury and electric vehicle unit sales In thousand units -7% 521 Top-End 487 -3% Luxury 78 75 78* 75* +7% 11 9 G 4 5 Maybach 64 59 Core Luxury 266 273 38 32 AMG 21 31 BEV thereof S Entry 40 EQS 39 Luxury** 177 35 32 PHEV 139 GLS Q2 2021 Q2 2022 Q
Slide 8: Mercedes-Benz Cars: Financials
Classified as MB Internal Mercedes-Benz Cars: Financials Sales Revenue EBIT adj. CFBIT adj. in thousand units in billion euros in billion euros in billion euros +8% -7% 521.2 27.0 +20% 487.1 3.8 25.0 +18% 3.2 2.9 2.5 +9% 70.3* 64.4* Q2 2021 Q2 2022 Q2 2021 Q2 2022 Q2 2021 Q2 2022 Q2 2021 Q2 2022 * A
Slide 9: Cars: Q2 2022 EBIT & RoS
Classified as MB Internal Mercedes-Benz Cars: Q2 2022 EBIT & RoS In million euros Gross Profit +641 1,445 80 5 94 3,833 3,792 -884 -69 -38 -41 180 3,201 3,021 Strongly improved net pricing Favourable product mix RoS: RoS: RoS: RoS: Discounting of non-current provisions 14.2% 14.0% 12.1% 12.8% Lower
Slide 10: Cars: EBIT to CFBIT
Classified as MB Internal Mercedes-Benz Cars: EBIT to CFBIT In million euros 3,792 555 2,948 389 2,393 -1,172 1,476 -518 CCR: CCR: 0.8 0.6 t/o t/o t/o • Legal proceedings + 147 • New vehicle stock - 620 • ACC - 390 -1,574 • BBAC Dividend + 661 • Restructuring + 18 • Unfinished product - 580 • Result
Slide 11: Mercedes-Benz Vans: Key messages
Classified as MB Internal Mercedes-Benz Vans: Key messages Performance: Stable unit sales and increased revenue despite semiconductor shortage Market: Record sales of Sprinter and Metris in the US Profitability: Double digit margin reflects healthy mix and pricing Electrification: Share of eVans inc
Slide 12: Mercedes-Benz Vans: Financials
Classified as MB Internal Mercedes-Benz Vans: Financials Sales Revenue EBIT adj. CFBIT adj. in thousand units in billion euros in million euros in million euros +2% +12% 98.4 100.1 4.1 -1% 3.7 418 +11% 414 333 thereof 299 Q2 2021 Q2 2022 Q2 2021 Q2 2022 Q2 2021 Q2 2022 Q2 2021 Q2 2022 12
Slide 13: Vans: Q2 2022 EBIT & RoS
Classified as MB Internal Mercedes-Benz Vans: Q2 2022 EBIT & RoS In million euros Gross Profit +35 230 -9 432 418 48 414 -186 382 -14 -24 -10 -53 -32 Strongly improved net pricing RoS: RoS: RoS: Favourable product mix RoS: 11.8% 11.4% Discounting of non-current provisions 10.1% 9.3% Higher raw mater
Slide 14: Vans: EBIT to CFBIT
Classified as MB Internal Mercedes-Benz Vans: EBIT to CFBIT In million euros 382 79 333 110 254 2 -12 -161 CCR: 0.8 -68 CCR: 0.7 t/o • New vehicle stock - 301 • Trade payables + 282 • Legal proceedings + 79 Net investments Depreciation and CFBIT EBIT Change in working Net financial CFBIT in pp&e and
Slide 15: Mercedes-Benz Mobility: Key messages
Classified as MB Internal Mercedes-Benz Mobility: Key messages New business still impacted due to supply constraints and lower penetration Interest margin remains stable despite increasing interest rates Net credit losses at low level similar to 2021 Increase in Cost of Credit Risk driven by weaker
Slide 16: Mercedes-Benz Mobility: Financials
Classified as MB Internal Mercedes-Benz Mobility: Financials New Business Contract Volume EBIT adj. in billion euros in billion euros in million euros +1% -18% -33% 17.2 133.7 135.0 930 14.1 624 Q2 2021 Q2 2022 12/31/2021 06/30/2022 Q2 2021 Q2 2022 16
Slide 17: Mobility: Q2 2022 EBIT & RoE
Classified as MB Internal Mercedes-Benz Mobility: Q2 2022 EBIT & RoE In million euros 56 924 6 930 -248 15 624 0 624 -108 -2 -18 RoE: RoE: 23.9% 24.0% RoE: RoE: Margin remains stable despite increase in funding costs 17.1% 17.1% Favourable FX development Reduced volume due to Daimler Truck spin-off,
Slide 18: Group: Q2 2022 EBIT
Classified as MB Internal Mercedes-Benz Group: Q2 2022 EBIT* In million euros 632 -4 56 4,939 187 4,561 -306 4,622 4,374 -317 • Legal proceedings + 107 • Restructuring + 65 • Legal proceedings - 73 • M&A transactions + 15 • M&A transactions - 244 EBIT EBIT EBIT Mercedes-Benz Mercedes-Benz Mercedes-B
Slide 19: Group: Reconciliation from CFBIT to Free Cash Flow
Classified as MB Internal Mercedes-Benz Group: Reconciliation from CFBIT to Free Cash Flow In million euros 254 2,393 652 2,069 14 21 -985 1,417 -280 • Legal proceedings + 226 • Restructuring + 16 • M&A transactions + 410 Free cash flow Free cash flow Mercedes-Benz Mercedes-Benz Income taxes Effects
Slide 20: Group: Net Industrial Liquidity
Classified as MB Internal Mercedes-Benz Group: Net Industrial Liquidity In billion euros 3.1 1.6 22.7 -1.3 -1.5 -0.5 0.3 19.1 -5.3 Free cash flow industrial business Q2 2022: € 1.4 billion Additions to Net Industrial Earnings and Depreciation and Investments in Net Industrial Working capital propert
Slide 21: Outlook 2022
Classified as MB Internal Outlook 2022 21
Slide 22: Divisional Guidance 2022
Classified as MB Internal Mercedes-Benz Divisional Guidance 2022 ASSUMPTION The macroeconomic and geopolitical conditions continue to be characterized by an exceptional degree of uncertainty. A key factor contributing to this is the war in Ukraine, with its effects on supply chains and on the availa
Slide 23: Group Guidance 2022
Classified as MB Internal Mercedes-Benz Group Guidance 2022 ASSUMPTION The macroeconomic and geopolitical conditions continue to be characterized by an exceptional degree of uncertainty. A key factor contributing to this is the war in Ukraine, with its effects on supply chains and on the availabilit
Slide 24: Strategic priorities for this year – implementation on track
Classified as MB Internal Strategic priorities for this year – implementation on track Scale Grow Accelerate Alleviate Focus electric luxury car supply relentlessly vehicles business software constraints on costs Significant increase of MBSU May 19th MBSU preparation On course Deep sourcing progress
Slide 25: Appendix
Classified as MB Internal Appendix 25
Slide 26: Mobility: Net credit losses
Classified as MB Internal Mercedes-Benz Mobility: Net credit losses* in thousand units 0.89% 0.83% 0.68% 0.61% 0.50% 0.51% 0.43% 0.36% 0.37% 0.34% 0.33% 0.31% 0.31% 0.26% 0.26% 0.24% 0.21% 0.21% 0.17% 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 ytd 2022
Slide 27: YOUR NOW Joint Ventures Q2 2022
Classified as MB Internal YOUR NOW Joint Ventures Q2 2022 1. FREE NOW 2. SHARE NOW 3. CHARGE NOW 06/2022 YTD Interactions in millions 87.5 77.9 6.9 2.7 Customers* in millions 64.3 60.4 3.6 0.4 Cities* 168 152 16 n/a * Partially, data summation w/o consideration of possible redundancies 27
Slide 28: Disclaimer
Classified as MB Internal 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