LBBW International Fixed Income Conference. September 29, 2015 Peter Zirwes

Transcription

1 LBBW International Fixed Income Conference September 29, 2015 Peter Zirwes 1

2 Contents HIGHLIGHTS AND RESULTS FOR Q DAIMLER GROUP STRATEGY DIVISIONAL INFORMATION OUTLOOK FOR 2015 FUNDING STRATEGY 2

3 Key financials in billions of euros Q Q Revenue EBIT as reported from ongoing business Net profit Earnings per share (in euros) Net liquidity industrial business (2014: year-end) Free cash flow industrial business (January-June)

4 Positive Sales Development in Q2/ % -1% +7% Mercedes-Benz Cars Daimler Trucks Mercedes-Benz Vans -9% +11%* Daimler Buses Daimler Financial Services Delta vs. Q2/2014 * DFS: Contract Volume in Bn. Euro vs. 2014/12/31 4

5 Q2/2015 RoS* approaching target profitability levels 10.7% 10% 7.6% 8% 9% 8.5% 7.9% 6.6% 7.3% Mercedes-Benz Cars Daimler Trucks Mercedes-Benz Vans 5.5% 5.5% 19.2% 20.7% 6% 17% Daimler Buses Daimler Financial Services **) Q2/2014 Q2/2015 Target Profitability *) from ongoing business **) RoE 5

6 Contents HIGHLIGHTS AND RESULTS FOR Q DAIMLER GROUP STRATEGY DIVISIONAL INFORMATION OUTLOOK FOR 2015 FUNDING STRATEGY 6

7 Clear aspiration for all our divisions Mercedes-Benz Cars Daimler Trucks Mercedes-Benz Vans Daimler Buses Daimler Financial Services Most successful premium manufacturer No 1 in the global truck business Most successful player in worldwide van business No 1 in the global bus business Best financial and mobility services provider 7 7

8 Contents HIGHLIGHTS AND RESULTS FOR Q DAIMLER GROUP STRATEGY DIVISIONAL INFORMATION OUTLOOK FOR 2015 FUNDING STRATEGY 8

9 Mercedes-Benz Cars 9

10 Mercedes-Benz GLE Coupe 4new high-margin Mercedes-Benz SUVs in

11 Mercedes-Benz CLA Shooting Brake 1,354 L maximum load capacity 11

12 Mercedes-AMG GT 3.8 s from zero to 100 km/h Mercedes-AMG GT S: Fuel consumption urban/extra-urban/combined: 12,5-12,2/7,9-7,8/9,6-9,4 l/100 km, CO 2 emissions combined: g/km. 12

13 By significantly expanding our portfolio we create the basis for further profitable growth + Mercedes-AMG GT S: Fuel consumption urban/extra-urban/combined: 12,5-12,2/7,9-7,8/9,6-9,4 l/100 km, CO 2 emissions combined: g/km. 13

14 CO 2 -emissions (g/km) Plug-In vehicles: - Huge lever to improve MBC fleet consumption l 7.3 l 6.9 l 6.4 l 6.3 l % 150 Mercedes-AMG GT S: Fuel consumption urban/extra-urban/combined: 12,5-12,2/7,9-7,8/9,6-9,4 l/100 km, CO 2 emissions combined: g/km. 6.0 l l % l l l 2016 EU Legislation 95 <4.0 l until

15 Our strategy towards electric mobility 10 new plug-in hybrid models by 2017 Mercedes-AMG GT S: Fuel consumption urban/extra-urban/combined: 12,5-12,2/7,9-7,8/9,6-9,4 l/100 km, CO 2 emissions combined: g/km

16 C-Class 350 e 2.1 l fuel per 100 kilometres 31 km range in all-electric mode 48 Mercedes-AMG GT S: Fuel consumption urban/extra-urban/combined: 12,5-12,2/7,9-7,8/9,6-9,4 l/100 km, CO 2 emissions combined: g/km. gco2/km 16 16

17 China: key market for our growth plans 300, units sales target for Mercedes-Benz in China 17

18 Autonomous driving goes far beyond technology 15 years from now this car could be reality 18

19 Connectivity as enabling technology is the core of Infotainment Examples EVs Examples Safety Examples Autonomous Driving Examples Navigation Remote Services Live Traffic Information Car-2-Car Communication Radio/ Media Range on Map Car-2-X Warnings Smart Routing Internet/ Apps Charging Station Search Emergency Call Intelligent Parking Assist 19

20 Our target: No.1 premium car manufacturer Sales target In thousand units Profitability target Return on Sales in % 1,723 significantly higher than 2014 No. 1 on a sustainable basis

21 Daimler Trucks 21

22 Broadest and strongest truck portfolio in history 22

23 We re focusing our energy on the right issues Technology leadership in efficiency, safety and connectivity Global Market Presence in traditional and emerging markets Intelligent Platforms for tailored products and decisive economies of scale 23

24 Efficiency: the most efficient trucks are Daimler Trucks ~11% ~7% ~5% less fuel than fuel duel competitors* less fuel than previous model below Fuel Efficiency Standard in Japan Mercedes-Benz Actros Freightliner Cascadia Evolution Fuso Super Great V *Average saving versus competitor vehicles in over 1,000 so-called fuel duels in European fleets in

25 NAFTA: integrated powertrain components are real game-changers Status: Year end 2014 Heavy Duty Engines - DD15 & DD13 89% Penetration Automated Manual Transmission DT12 23% Penetration Front Axle 70% Penetration Rear Axle 50% Penetration 25

26 India, Africa: product offensive continues New BharatBenz trucks for India New FUSO trucks from India for Africa, Asia, and Latin America 26

27 Freightliner Inspiration Truck: the first licensed autonomous driving truck globally 27

28 Connectivity: the truck becomes part of an interacting environment Driver Headquarters +6% uptime Service Technician -20% repair costs 28

29 Our target: undisputed leader in the truck industry Sales target In thousand units Profitability target Return on Sales in % 496 > over the cycle

30 Daimler Financial Services 30

31 Strong business growth Contract volume [ billion] YTD 31

32 Services become an ever-more important part of our business model Financing Leasing Insurance Mobility Services Fleet Management Banking Services Mercedes-Benz Rent Nearly every second vehicle delivered to customers worldwide is being financed or leased* * Global average penetration rate with regard to passenger cars and commercial vehicles 32

33 Mobility services on growth path >1,000,000 people use our mobility services 33

34 Contents HIGHLIGHTS AND RESULTS FOR Q DAIMLER GROUP STRATEGY DIVISIONAL INFORMATION OUTLOOK FOR 2015 FUNDING STRATEGY 34

35 Our product offensive continues Mercedes-Benz Cars Mercedes- Maybach Mercedes- AMG GT CLA Shooting Brake GLE Coupé GLE A-Class new generation GLC Mercedes-Benz Vans Vito panel van / Vito Tourer (Europe) Metris (Vito NAFTA) Vito (Latin America) Daimler Trucks Western Star 5700XE MB Unimog off-road Econic NGT BharatBenz 3143 Arocs HAD Daimler Buses Mercedes-Benz CapaCity MB Citaro NGT Setra MultiClass Low Entry 3-Axle BharatBenz Buses 35

36 2015 outlook for EBIT from ongoing business We expect Group EBIT for FY 2015 to increase significantly based on the following expectations for divisional EBIT: Significantly above the prior-year level Significantly above the prior-year level Significantly above the prior-year level Significantly below the prior-year level Daimler Financial Services Significantly above the prior-year level This guidance is based on current outlined market expectations and current exchange-rate expectations. 36

37 Contents HIGHLIGHTS AND RESULTS FOR Q DAIMLER GROUP STRATEGY DIVISIONAL INFORMATION OUTLOOK FOR 2015 FUNDING STRATEGY 37

38 Daimler follows a conservative Financial Policy Clear commitment to a single A rating Balanced approach between shareholder interest and credit providers Dividend policy on a sustainable basis (40% target pay-out ratio) No share buybacks planned, further pension contributions will be evaluated 38

39 Financial Services is with a portfolio of EUR 111 bn. present in 40 countries Significant portfolio growth (in bn ) Balanced Regional Footprint Asia, Africa & Pacific 17% 44% The Americas 42% Europe 39% Q Portfolio growth follows sales growth of the Automotive Divisions 39

40 Daimler Financial Services contributes to the success of the automotive business DFS Product Portfolio Benefits of the automotive business Financing and leasing Dealer financing Insurance Fleet Management Banking Services Mobility Services Strengthen customer loyalty Support sales organization Bundled solutions secure after-sales revenue Increase share in commercial fleets Support funding and access new customers Tap new business potential 40

41 Successful risk management at Financial Services: net credit losses* at low level 0.89% 0.83% 0.69% 0.68% 0.50% 0.61% 0.51% 0.36% 0.43% 0.34% 0.37% 0.31% 0.20% Q * as a percentage of portfolio, subject to credit risk 41

42 Our funding strategy is built on prudent principles Targeting Financial Independence No dependence from single markets, instruments, banks or investors Diversification of funding sources and instruments: Bank Loans, Bonds, ABS, CP, Deposits No Covenants, no MAC, no asset pledges, no CSAs Maximizing Financial Flexibility Stringent Funding Policy worldwide Keeping prudent amount of Cash and Committed Credit Facility New markets funded via global and local banks first Early capital market funding to save credit capacity in growth regions Liquidity matched funding Interest rate matched funding Currency matched funding Country matched funding 42

43 Our funding needs grow with the Financial Services portfolio and we aim to diversify the funding sources in billions of euros (nominal amount) Other Com. Paper ABS Acc. Deposits Bank Loans Bonds Q

44 Consequent development to global bond funding Diversification will continue USA Canada EMTN Domestic Bonds ABS CP 144a / RegS PP CP ABS Mexico Domestic Issuance Prog. Brazil Letras Financeiras Euro Market EMTN Program Domestic Formats ECP ABS Turkey Domestic Bonds EMTN India China Domestic Bonds Domestic CP Thailand Korea Domestic Bond Prog. Japan Domestic Bond Prog. Domestic Bonds EMTN Argentina Domestic Debt Issuance Prog. South Africa Domestic Debt Issuance Prog. Australia EMTN Domestic CP Prog. 44

45 Daimler enjoys excellent bank relationships to a broad set of international banks Most banks have long established business relationships to Daimler Daimler honors the support provided by banks Daimler s changing global footprint reflected in Bank Panel of Syndicated Global Credit Facility 45

46 Balanced bond maturity profile in billions of euros as of September 15 th,

47 Daimler follows a conservative financial management and further strengthened the balance sheet Group Gross Liquidity (in bn ) Industrial Net Liquidity (in bn ) Financial Services Industrial Business % Q Q In addition Daimler extraordinarily contributed 2.5bn Euros to the pension funds in

48 Solid rating supports Daimler s funding Current ratings: S&P: A- stable A-2 Moody s: A3 positive P-2 Fitch: A- stable F2 DBRS: A (low) stable R-1 (low) Daimler target: Sustaining the A rating at all rating agencies 48

49 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-looking statements. These statements are subject to many risks and uncertainties, including an adverse development of global economic conditions, in particular a decline of demand in our most important markets; a worsening of the sovereign-debt crisis and increasing uncertainty in the euro zone; an increase in political tension in Eastern Europe; a deterioration of our refinancing possibilities on the credit and financial markets; events of force majeure including natural disasters, acts of terrorism, political unrest, industrial accidents and their effects on our sales, purchasing, production or financial services activities; changes in currency exchange rates; a shift in consumer preferences towards smaller, lower-margin vehicles; a possible lack of acceptance of our products or services which limits our ability to achieve prices and adequately utilize our production capacities; price increases for fuel or raw materials; disruption of production due to shortages of materials, labor strikes or supplier insolvencies; a decline in resale prices of used vehicles; the effective implementation of cost-reduction and efficiency-optimization measures; the business outlook for companies in which we hold a significant equity interest; the successful implementation of strategic cooperations and joint ventures; changes in laws, regulations and government policies, particularly those relating to vehicle emissions, fuel economy and safety; the resolution of pending government investigations and the conclusion of pending or threatened future legal proceedings; and other risks and uncertainties, some of which we describe under the heading Risk and Opportunity Report in the current Annual Report. If any of these risks and uncertainties materializes or if the assumptions underlying any of our forward-looking statements prove to be incorrect, the actual results may be materially different from those we express or imply by such statements. We do not intend or assume any obligation to update these forward-looking statements since they are based solely on the circumstances at the date of publication. 49