Bitte decken Sie die schraffierte Fläche mit einem Bild ab. Please cover the shaded area with a picture. (24,4 x 11,0 cm) Driving the Future of Mobility Strategy Presentation
AGENDA 1 Corporation Highlights 2017 3 2 Automotive Trends 4 3 Key Enabler: Digitalization 6 4 Electrification 10 5 Automated Driving 13 6 Holistic Connectivity 18 7 Tires: No Disruption but Evolution 21 ContiTech – Smart Solutions beyond Rubber 8 24 Continental Strategy – Outlook 2020 and Beyond 9 26 10 Continental Outlook 2018 27 32 11 Back-up Conference Presentation January 2018 EDMR – Equity and Debt Markets Relations 2
1) Corporation Highlights 2017 Most Important KPIs FY 2017 › Sales up by >8% to ~ € 44.0 bn; organic sales growth at ~8% › Adj. EBIT 1 totaled > € 4.7 bn; adj. EBIT 1 margin ~10.8% › Free cash flow before acquisitions amounted to > € 2.2 bn, leading to a cash conversion 2 of <75% › Net debt < € 2.2 bn; gearing ratio below 15% at YE 2017 › Order intake in the Automotive Group totaling more than € 39 bn Q4 2017 › Automotive Group organic sales growth >9%, around 8%-points above global PC< production › Automotive Group adj. EBIT 1 margin in Q4 2017 stood ~9% › Winter tire sales up 5%; overall tire volumes in Q4 2017 up by 2% despite challenging comparables; volumes and improved PM drove Q4 sales and EBIT in the Tires division to prior year levels 1 Before amortization of intangibles from PPA, consolidation and special effects 2 Cash flow before financing activities and acquisitions divided by net income attributable to the shareholders of the parent Conference Presentation January 2018 EDMR – Equity and Debt Markets Relations 3
2) Automotive Trends New Business Opportunities Arise Global Supplier Revenue Pool (bn € ) › Revenue pool for suppliers reached more than € 1 trn in 2017 › Business related to “established” business will grow by ~1% p.a. and reach ~ € 1.1 trn in 2025 30% p.a. › Revenues share of Electrification 1 , Automated Driving and Holistic Connectivity represented in total <3% in 2017 › Revenue share of Electrification 1 , Automated Driving and Holistic Connectivity will grow by 1% p.a. ~30% p.a. to > € 200 bn in 2025 › It will account for ~15% of the overall supplier revenue market by 2025 New Business Opportunities Established Business Sources: Roland Berger and Continental estimates. FX rate assumption 1.13 EUR/USD. 1) Not including market for electric vehicle batteries but including hybrid solutions. Conference Presentation January 2018 EDMR – Equity and Debt Markets Relations 4
2) Automotive Trends Four ACES 1 : We Shape the Future of Our Industry A utomated Driving Holistic C onnectivity E lectrification TAM 2 in bn € TAM 2 in bn € 4 TAM 2 in bn € 3 S hared Mobility Sources: McKinsey and Continental estimates 1) Four ACES: autonomous, connected, electrified and shared mobility Conference Presentation January 2018 2) Total Addressable Market EDMR – Equity and Debt Markets Relations 5 3) Not including market for batteries but hybrid solutions 4) McKinsey estimates a market for digital services of US70$ - 110 billion in 2025; FX rate assumption of 1.13 EUR/USD
3) Key Enabler: Digitalization 1 The Most Digitalized Portfolio in The Supplier Sector 1 Suppliers > € 3 bn sales Source: Company filings and Continental estimates Conference Presentation January 2018 EDMR – Equity and Debt Markets Relations 6
3) Key Enabler: Digitalization Strong Order Intake Drives Sustainable Growth… Automotive Group: Strong Order Intake (bn € ) 1 1 Lifetime Sales Conference Presentation January 2018 EDMR – Equity and Debt Markets Relations 7
3) Key Enabler: Digitalization … but Causes Sustained High R&D and Capex Automotive Group R&D (mn € ) Automotive Group Capex (mn € ) R&D and capex have a lead time of about 2-3 years and the increase is mainly a consequence of the strong order intake Conference Presentation January 2018 EDMR – Equity and Debt Markets Relations 8
3) Key Enabler: Digitalization Which in the Future Leads to Higher ROCE Automotive Group Avg. Operating Assets excl. Goodwill Acquired Before 2009 Target range 25-35% Conference Presentation January 2018 EDMR – Equity and Debt Markets Relations 9
4) Electrification Engine Roadmap 2017 to 2025 – Electrification View Global PC & LT Production › Until 2025 the internal combustion by Engine Type (mn units) engine (ICE) will be the most dominant force amongst the different propulsion types › More variants of hybridization due to decline in Diesel › Strong increase in pure Electric Vehicles after 2025 › Breakthrough in battery technology might accelerate scenario Source: Continental estimates Conference Presentation January 2018 EDMR – Equity and Debt Markets Relations 10
4) Electrification Order Intake Confirms Shift to Electronics & Electrification Order Intake ∑ ∑ € ~7.7 bn € >13 bn 1 Order Intake as Lifetime Sales Conference Presentation January 2018 EDMR – Equity and Debt Markets Relations 11
4) Electrification Relative Value of Continental’s Content in Powertrains 1 Gasoline-related Diesel-related HEV-related BEV-related business business business including business including extended offering extended offering 100% 1 160% 160-360% 400% › Engine management › Engine management › Engine management › High-voltage axle drive systems for solenoid systems for diesel piezo systems (gasoline/diesel) › Power electronics direct injection (injector, common-rail injection › Exhaust aftertreatment ECU, pressure pumps) (injector, ECUs, › Onboard charging › Sensors and actuators pressure pumps) systems › Exhaust aftertreatment › Turbochargers › Exhaust aftertreatment › Battery management › Sensors and actuators and systems › Sensors and actuators › 48V solutions › Turbochargers (12kW/ 15kW/ 25kW) › DC/DC converter or › Plug-in hybrid solutions › Thermal management (incl. thermal components & components charging systems) Well positioned in all key technologies! 1 Value of displayed gasoline content per car is indexed at 100%; all other values read relative to the gasoline content Conference Presentation January 2018 EDMR – Equity and Debt Markets Relations 12
5) Automated Driving Market for Automated Driving: Estimated Development PC&LV production (mn units) L0-L2 L4 L5 L3 Total Market Conference Presentation January 2018 EDMR – Equity and Debt Markets Relations 13
5) Automated Driving Market for Automated Driving: Three-Layer Model Recent Additions to the Portfolio Market for Automated Driving ~ € 35 bn 1 by 2025 Cooperation/ Joint Venture Sensors Components DIGILENS ~ € 26 bn ADCU Electronics easyMILE Software HUAWEI System Integration NTT docomo intel BMW ~ € 7 bn Software Environmental China Electronics here Baidu Model unicom ~ € 2 bn 1 Source: Continental estimates Conference Presentation January 2018 EDMR – Equity and Debt Markets Relations 14
5) Automated Driving ADAS Sensors per Car BMW Sensors 44 1 per car GM 40 1 23 2 Camera Surround View 16 2 Ultrasonic 3 3D Flash Lidar 6 2 Long Range Short Range Level 2 Level 3 Level 4/5 Radar Radar 1 Source: https://www.bmwgroup.com/content/dam/bmw-group-websites/bmwgroup_com Conference Presentation January 2018 /ir/technologie_workshops/Technology_Workshops_Autonomous_Driving.pdf https://www.gm.com/content/dam/gm/events/docs/5265893-685163-Chartset-11-30-2017 EDMR – Equity and Debt Markets Relations 15 2 Continental estimates 3 Ultrasonic not in Continental portfolio
5) Automated Driving Leading Position in ADAS System Manufacturers Component Suppliers Sales ( € mn) ~2,500 Incl. Elektrobit, HMI and HuD OI OI 2017: 2016: ~ € 3.5 OI OI € 3.5 bn n/a n/a 2016: 2016: bn € 0.4 bn € 1.3 bn 1 Continental ADAS = Radar, Lidar, Camera and ADCUs, 2017 OI includes ADAS related CVAM business OI 2 Bosch PR May 4 th , 2017; Bosch has not communicated any future ADAS sales target; Bosch includes ultrasonic in ADAS sensors; Bosch target is a 2019 target 3 Denso reports ADAS sales as part of “Information and safety systems”; Denso’s ADAS target 03/2021 looks for JPY 200 bn; sales are annualized 4 Autoliv active safety products: radar systems, vision and night systems, active seatbelts and brake systems, dynamic spot light and system integration; 2020 target 5 Mobileye 2016 sales; company has the target to achieve 1.1 bn USD sales by 2019 6 Hella: according to Jeffries Research 7 Delphi 2016 sales represent company communication from Q2 2016 and target to achieve 1 bn USD sales by 2019 8 Valeo reports sales for comfort and driving assist only. It includes rain, lighting and ultrasonic sensors in DA sales; it has no official target for future ADAS sales communicated 9 ZF has not provided any sales data on its ADAS business Conference Presentation January 2018 EDMR – Equity and Debt Markets Relations 16
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