Bitte decken Sie die schraffierte Fläche mit einem Bild ab. Please cover the shaded area with a picture. (24,4 x 7,6 cm) Roadshow Presentation March 2018 Ticker: CON ADR-Ticker: CTTAY Twitter: @Continental_IR http://www.continental-ir.com
Agenda 1 Corporation Highlights 2017 3 2 Automotive Trends 4 3 Key Enabler: Digitalization 6 4 Electrification 9 5 Automated Driving 12 6 Holistic Connectivity 17 7 Tires: No Disruption but Evolution 20 8 ContiTech – Smart Solutions Beyond Rubber 23 9 Continental Strategy – Outlook 2020 and Beyond 25 10 Continental Outlook 2018 26 11 Back-up FY 2017 Presentation 33 Roadshow Presentation EDMR - Equity and Debt Market Relations 2
1) Corporation Highlights 2017 Most Important KPIs for FY 2017 › Sales up by 8.5% to €44.0 bn ; organic sales growth at 8.1%; FX negative at €435 mn Adj. EBIT 1 up by 10.1% to €4.7 bn ; adj. EBIT 1 margin at 10.9% (PPA 2 -€171 mn and special effects -€14 mn) › NIAT 3 amounted to €3.0 bn, up by 6.5% › › Free cash flow amounted to €1.8 bn including €596 mn cash outflow for acquisitions (mainly Hornschuch and Argus); free cash flow before acquisitions amounted to €2.3 bn › Gearing ratio down to 13%; equity ratio up to 44% Value creation: trailing ROCE 4 up slightly to 20.6% › › Other topics: › Order intake: lifetime sales in the Automotive Group increased to almost €40 bn Dividend to increase by €0.25 to €4.50 5 for FY 2017 › 1 Before amortization of intangibles from PPA, consolidation and special effects 2 Amortization of intangibles from PPA 3 Attributable to the shareholders of the parent 4 Trailing ROCE is calculated as reported EBIT for the last twelve months (LTM) divided by average operating assets for the LTM 5 Subject to approval of the Annual Shareholders’ Meeting (ASM) on April 27, 2018 Roadshow Presentation EDMR - Equity and Debt Market Relations 3
2) Automotive Trends New Business Opportunities Arise Global Supplier Revenue Pool (bn €) › Revenue pool for suppliers reached more than €1 trn 1,500 in 2017 1,250 › Business related to “established” business will grow by 30% p.a. ~1% p.a. and reach ~€1.1 trn in 2025 1,000 › Revenues share of Electrification 1 , Automated Driving 750 and Holistic Connectivity represented in total <3% in 1% p.a. 500 2017 › Revenue share of Electrification 1 , Automated Driving 250 and Holistic Connectivity will grow by ~30% p.a. to 0 >€200 bn in 2025 2017 2025 › It will account for ~15% of the overall supplier revenue New Business Opportunities market by 2025 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. Roadshow Presentation EDMR - Equity and Debt Market Relations 4
2) Automotive Trends Four ACES 1 Will Drive Our Growth 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 Roadshow Presentation 2) Total Addressable Market 3) Not including market for batteries but hybrid solutions EDMR - Equity and Debt Market Relations 4) McKinsey estimates a market for digital services of US70$ - 110 billion in 2025; 5 FX rate assumption of 1.13 EUR/USD
3) Key Enabler: Digitalization The Most Digitalized Portfolio in The Supplier Sector 1 Continental Automotive Competitor 1 Competitor 2 Competitor 3 Competitor 4 Competitor 5 Competitor 6 Competitor 7 Competitor 8 Competitor 9 Competitor 10 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Today: Electronics/Sensors/SW products as % of sales Continental 2025: Electronics/Sensors/SW products as % of sales Source: Company filings and Continental estimates. 1 Suppliers >€3 bn sales. Roadshow Presentation EDMR - Equity and Debt Market Relations 6
3) Key Enabler: Digitalization Strong Order Intake Drives Sustainable Growth… Automotive Group: Strong Order Intake (bn €) 40 35 30 >30 28.5 26.6 24.5 23.6 2015 2016 2017 2018E 2019E 2020E 2021E 2022E 1 Automotive Group Sales Order Intake (LTS) 1 Lifetime Sales Roadshow Presentation EDMR - Equity and Debt Market Relations 7
3) Key Enabler: Digitalization … but Causes Sustained High R&D and Capex Automotive Group Capex (€ mn) Automotive Group R&D (€ mn) 2,676 2,431 1,790 2,097 1,836 1,497 1,589 1,275 1,475 1,126 1,036 1,016 10.1% 9.9% 8.8% 8.9% 6.7% 7.9% 7.6% 5.3% 5.1% 5.4% 5.4% 6.1% 2012 2013 2014 2015 2016 2017 2018E 2019E 2020E 2021E 2022E 2012 2013 2014 2015 2016 2017 2018E 2019E 2020E 2021E 2022E R&D expenditure (€ mn) R&D as percentage of sales Capex (€ mn) Capex ratio Roadshow Presentation EDMR - Equity and Debt Market Relations 8
4) Electrification Electrification of Engines: Estimated Development Global PC & LT 1 Production by Engine Type (mn units) › Until 2025 the internal combustion 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 1 Passenger car and light truck <6t Roadshow Presentation EDMR - Equity and Debt Market Relations 9
4) Electrification Powertrain Division: Order Intake Confirms Shift to Electronics & Electrification ∑ ∑ € 13.4 bn € 7.7 bn 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% 2014 2017 Sales 2017 Order Intake Mechanics and hydraulics Electronics Electrification 1 Order Intake as Lifetime Sales Roadshow Presentation EDMR - Equity and Debt Market Relations 10
4) Electrification Relative Value of Continental’s Content in Powertrains 1 Gasoline-related Diesel-related HEV-related business BEV-related business business business including extended offering including extended offering 100% 1 160% 160-360% 400% › Engine management systems for › Engine management systems for › Engine management systems › High-voltage axle drive › Power electronics solenoid direct injection (injector, diesel piezo common-rail injection (gasoline/diesel) › Exhaust aftertreatment › Onboard charging systems ECU, pressure pumps) (injector, ECUs, pressure pumps) › Exhaust aftertreatment › Exhaust aftertreatment › Sensors and actuators › Battery management systems › Sensors and actuators › Sensors and actuators › Turbochargers › DC/DC converter › Turbochargers › Thermal management and › 48V solutions (12kW/ 15kW/ 25kW) components or › Plug-in hybrid solutions (incl. thermal 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. Roadshow Presentation EDMR - Equity and Debt Market Relations 11
5) Automated Driving Market for Automated Driving: Estimated Development PC & LT 1 production (mn units) L0-L2 L4 L5 L3 Total Market 1 Passenger car and light truck <6t Roadshow Presentation EDMR - Equity and Debt Market Relations 12 12
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 ~€26 bn ADCU Electronics easyMILE HUAWEI Software System Integration NTT docomo intel BMW ~€7 bn Software China Environmental Model Electronics Baidu unicom ~€2 bn 1 Source: Continental estimates Roadshow Presentation EDMR - Equity and Debt Market Relations 13 13
5) Automated Driving ADAS Sensors per Car BMW 44 1 Sensors per car 40 1 GM 33-40 2 Continental Camera Surround View 25-29 2 3D Flash Lidar Ultrasonic 3 18-22 2 Long Range Short Range Radar Level 2 Level 3 Level 4/5 Radar 1 Sources: https://www.bmwgroup.com/content/dam/bmw-group-websites/bmwgroup_com/ Roadshow Presentation ir/technologie_workshops/Technology_Workshops_Autonomous_Driving.pdf EDMR - Equity and Debt Market Relations https://www.gm.com/content/dam/gm/events/docs/5265893-685163-Chartset-11-30-2017 2 Continental estimates, depending on customers and future regulatory requirements. 14 14 3 Ultrasonic not in Continental portfolio.
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