Capital Market Presentation Q1 2020 DAIMLER AG FIXED INCOME PRESENTATION Q1 2020
I. I. Daimler AG 2019 DAIMLER AG Q1-2020 Daimler AG Fixed Income Presentation Q1 2020 / April 29, 2020 2
DAIMLER Q1 2020 KEY TOPICS Q1 in line with our expectations Significant decline in all markets caused by COVID-19 pandemic Strict actions taken to safeguard employees Immediate measures taken to preserve cash and safeguard financial flexibility Shutdown of production in almost all plants with short-time work in Germany Strategic projects were continued Decision-making paths shortened, organizational structure streamlined Daimler AG Fixed Income Presentation Q1 2020 / April 29, 2020 / Page 3
DAIMLER Q1 2020 KEY FIGURES Unit sales Revenue EBIT EBIT adjusted in thousands of units in billions of euros in billions of euros in billions of euros 774 39.7 2.8 37.2 2.3 644 -17% -6% -78% -69% 0.7 0.6 Q1 2019 Q1 2020 Q1 2019 Q1 2020 Q1 2019 Q1 2020 Q1 2019 Q1 2020 Net profit Earnings per share Free cash flow (IB) Free cash flow (IB) adjusted in billions of euros in euros in billions of euros in billions of euros 2.1 1.96 -92% -95% -2.0 -1.9 -2.0 0.2 -2.3 0.09 Q1 2019 Q1 2020 Q1 2019 Q1 2020 Q1 2019 Q1 2020 Q1 2019 Q1 2020 Daimler AG Fixed Income Presentation Q1 2020 / April 29, 2020 / Page 4
DAIMLER FINANCIAL FRAMEWORK Equity & debt markets DAIMLER Dividend Funding MERCEDES-BENZ DAIMLER TRUCK DAIMLER MOBILITY (Subgroup) (Subgroup) (Subgroup) ▸ CAPITAL MARKET ACCESS ▸ GROUP FUNDING AND LIQUIDITY MANAGEMENT ▸ CAPITAL STRUCTURE ▸ CAPITAL ALLOCATION ▸ SET AND MONITOR PERFORMANCE TARGETS ▸ DOMINATION AND PROFIT & LOSS TRANSFER AGREEMENTS Daimler AG Fixed Income Presentation Q1 2020 / April 29, 2020 5
DAIMLER Q1 2020 NET INDUSTRIAL LIQUIDITY in billions of euros Free cash flow industrial business Q1 2020: minus €2.3 billion 11.0 -1.7 +0.6 -0.1 9.3 -0.1 -2.3 +1.9 Net industrial Earnings and Working Investments in Additions to Depreciation and Other Net industrial liquidity other cash capital impact and disposals of property, plant, amortization/ liquidity 12/31/2019 flow impact shareholdings equipment and impairments 3/31/2020 intangible assets Daimler AG Fixed Income Presentation Q1 2020 / April 29, 2020 / Page 6
DAIMLER Q1 2020 DEVELOPMENT OF GROSS INDUSTRIAL LIQUIDITY in billions of euros Financial Services Industrial Business 27.6 -2.3 +1.3 -1.9 +3.3 -5.8 -1.5 +0.3 24.1 3.9 +3.2 3.2 23.7 20.8 Gross Free cash flow Free cash flow Other debt ABS New ABS Bond New bonds FX and Gross liquidity industrial Daimler maturities maturities other liquidity 12/31/2019 business Mobility 3/31/2020 Daimler AG Fixed Income Presentation Q1 2020 / April 29, 2020 7
DAIMLER Q1 2020 FINANCIAL FLEXIBILITY OVER A 12-MONTH PERIOD in billions of euros 68 Credit facility of €12 billion as of April 1 56 Other, incl. 54 Net industrial liquidity at €9.3 billion continues to be at a finance lease comfortable level Commercial ABS paper potential Gross industrial liquidity at €20.8 billion Bank loans Financial flexibility supported by €11 billion revolving credit facility, Credit which is unutilized facility Liquidity Daimler As of April 1, an additional €12 billion credit facility has been Mobility Bonds arranged increasing available liquidity to approximately €68 billion Liquidity industrial business Account deposits Available or Maturities accessible over next liquidity 12 months Daimler AG Fixed Income Presentation Q1 2020 / April 29, 2020 / Page 8
2020 OUTLOOK ASSUMPTIONS FOR AUTOMOTIVE MARKETS Global CAR MARKETS significant decrease Europe significant decrease USA significant decrease China significant decrease VAN MARKETS EU30 significant decrease USA significant decrease North America HEAVY-DUTY significant decrease TRUCK MARKETS EU30 significant decrease Japan significant decrease Brazil significant decrease significant decrease BUS MARKETS EU30 Brazil significant decrease Daimler AG Fixed Income Presentation Q1 2020 / April 29, 2020 / Page 9
2020 OUTLOOK GUIDANCE Daimler Group GROUP SALES Below the prior-year level REVENUE Daimler Group Below the prior-year level Daimler Group EBIT Below the prior-year level Industrial business FREE CASH FLOW Below the prior-year level Daimler Group INVESTMENT IN PP&E Below the prior-year level R&D EXPENDITURE Daimler Group Below the prior-year level NEW BUSINESS Daimler Mobility Below the prior-year level ROE ADJUSTED Daimler Mobility Below the prior-year level Daimler AG Fixed Income Presentation Q1 2020 / April 29, 2020 / Page 10
DAIMLER Q1 2020 LOOKING FORWARD Comprehensive set of countermeasures implemented to counteract top-line decline Ready to ramp-up and capture opportunities Fully committed to CO 2 plans and electrification plans Fully committed to transformation plans Daimler AG Fixed Income Presentation Q1 2020 / April 29, 2020 / Page 11
I. II. Daimler AG 2019 DIVISIONAL REVIEW Q1-2020 Daimler AG Fixed Income Presentation Q1 2020 / April 29, 2020 12
MERCEDES-BENZ CARS & VANS KEY TOPICS Q1 2020 Start into the year 2020 was very encouraging before demand dropped due to COVID-19 pandemic Encouraging sales development in March in China and South Korea Our attractive products are in strong demand, especially GLE and GLS Focus on xEV ramp-up Digital world premiere of the comprehensively updated E-Class, new Vito and eVito Tourer Major vehicle projects and activities in the areas of digitization and electrification have top priority Daimler AG Fixed Income Presentation Q1 2020 / April 29, 2020 / Page 13
MERCEDES-BENZ BUSINESS RECOVERY IN CHINA Open MB dealerships Production volume in % in % vs. operational planning 113 100** 99 ** 74 74 29 0* Jan 20 Feb 20 Mar 20 Apr 20 Jan 20 Feb 20 Mar 20 Apr 20 Showroom traffic Unit sales in % vs. prior year in % vs. prior year ** 97 100 90 74 29 21 Jan 20 Feb 20 Mar 20 Apr 20 Jan 20 Feb 20 Mar 20 * Complete lockdown end of January ** Forecast Daimler AG Fixed Income Presentation Q1 2020 / April 29, 2020 / Page 14
MERCEDES-BENZ CARS & VANS KEY FIGURES Unit sales Revenue EBIT adjusted CFBIT in thousands of units in billions of euros in millions of euros in millions of euros 652 1,372 24.1 23.2 547 -835 -16% -4% -56% 603 -1,729 Q1 2019 Q1 2020 Q1 2019 Q1 2020 Q1 2019 Q1 2020 Q1 2019 Q1 2020 Daimler AG Fixed Income Presentation Q1 2020 / April 29, 2020 / Page 15
MERCEDES-BENZ CARS & VANS EBIT AND ROS Favorable model mix Contribution of the smart brand into smart Automobile Co., Ltd. in millions of euros Charges related to product portfolio review in Q1 2019 Valuation effects due to interest increases Lower unit sales Gross profit -962 Expenses for enhanced vehicle equipment, partially relating to CO 2 measures Higher depreciation Lower at-equity contribution from Beijing Benz Automotive Co., Ltd. (BBAC) Foreign exchange rates +229 1,372 -571 RoS: 1,143 5.7% RoS: 4.8% -108 -283 +54 -93 603 +28 -18 +129 510 RoS: 2.6% RoS: 2.2% EBIT Adjust- EBIT Volume/ Foreign Industrial Selling General Research & non- Others EBIT Adjust- EBIT Q1 2019 ments adjusted Structure/ exchange perform- expenses administrative capitalized adjusted ments Q1 2020 Q1 2019 Net pricing rates ance expenses developm. costs Q1 2020 Daimler AG Fixed Income Presentation Q1 2020 / April 29, 2020 / Page 16
MERCEDES-BENZ CARS & VANS RECONCILIATION FROM EBIT TO CFBIT Q1 2020 in millions of euros +128 -118 -2,113 510 -1,750 +1,614 -1,281 -1,729 448 EBIT Change in Net financial Net investments Depreciation and Other CFBIT Adjustments CFBIT Q1 2020 working capital investments in pp&e and amortization/ Q1 2020 adjusted intangible assets impairments Q1 2020 Daimler AG Fixed Income Presentation Q1 2020 / April 29, 2020 / Page 17
DAIMLER TRUCKS & BUSES KEY TOPICS Q1 2020 Headwinds in all major markets, with expected market declines in North America and Europe Progressive implementation of the announced restructuring measures Immediate and consistent COVID-19 crisis management with a production ramp-up since April 21 Signed a non-binding agreement with the Volvo Group to form a 50:50 joint venture for the production of fuel cells Continuing focus on our strategic initiatives: autonomous trucking, battery and fuel-cell technology Daimler AG Fixed Income Presentation Q1 2020 / April 29, 2020 / Page 18
DAIMLER TRUCKS & BUSES KEY FIGURES Incoming orders* Unit sales Revenue EBIT adjusted CFBIT in thousands of units in thousands of units in billions of euros in millions of euros in millions of euros 121 110 10.2 553 93 8.7 98 -85 -15% -20% -14% -55% 247 -232 Q1 2019 Q1 2020 Q1 2019 Q1 2020 Q1 2019 Q1 2020 Q1 2019 Q1 2020 Q1 2019 Q1 2020 * Net order intake, adjusted for cancellations Daimler AG Fixed Income Presentation Q1 2020 / April 29, 2020 / Page 19
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