daimler corporate presentation fy 2015
TRANSCRIPT
Corporate Presentation FY 2015
Daimler AG
Contents
Key figures Divisional information Group financials Daimler Group Strategy China Outlook for 2016 Appendix
Daimler Corporate Presentation / Q4 & FY 2015 / Page 2
Daimler AG
Key figures
Daimler Corporate Presentation / Q4 & FY 2015 / Page 3
2014 2015
Unit sales (in thousands of units) 2,546.0 2,853.0
Revenue 129.9 149.5
EBIT
as reported 10.8 13.2
from ongoing business 10.1 13.8
Net profit 7.3 8.7
Free cash flow of the industrial business 5.5 4.0
Earnings per share (in euros) 6.51 7.87
Dividend per share (in euros) 2.45 3.25
in billions of euros
Daimler AG
Net industrial liquidity: development in 2015
Daimler Corporate Presentation / Q4 & FY 2015 /
Free cash flow industrial business FY 2015: €4.0bn
Net industrial liquidity
12/31/2014
Earnings and other cash flow
impact
Working capital impact
Other (mainly FX effects, capital
increases to DFS and dividend payments to minority
shareholders)
Net industrial liquidity
12/31/2015
-2.7
18.6 +0.2 17.0
+8.6
-1.9
Pension/ healthcare; M&A
-2.6
Dividend payment Daimler AG
- in billions of euros -
Page 4
Daimler AG
Contents
Key figures Divisional information Group financials Daimler Group Strategy China Outlook for 2016 Appendix
Daimler Corporate Presentation / Q4 & FY 2015 / Page 5
Daimler AG
Mercedes-Benz Cars: profitable growth through success of attractive models
Daimler Corporate Presentation / Q4 & FY 2015 /
Unit sales – in thousands of units –
2014 2015
Revenue – in billions of euros –
EBIT from ongoing business – in millions of euros –
1,723 2,001
2014 2015
73.6 83.8
2014 2015
5,964
8,343
Page 6
+16% +14% +40%
Daimler AG
Mercedes-Benz Cars: sales volume at new record level
Daimler Corporate Presentation / Q4 & FY 2015 /
* incl. GLA
- in thousands of units -
2014
1,723
2,001
2015
425
470
306
106
29
387
342
329
115
31
smart
E-Class
C-Class
A-/B-Class
S-Class
Sports Cars 121
92 SUVs*
426
543
Page 7
Daimler AG
Mercedes-Benz Cars: balanced sales structure
Daimler Corporate Presentation / Q4 & FY 2015 /
- unit sales in thousands -
2014
1,723
2,001
2015
400
359
296
478
293
344
272
396
Rest of world
Germany
United States
China
Western Europe excl. Germany
418
468
Page 8
Daimler AG
Mercedes-Benz Cars: EBIT from ongoing business
Daimler Corporate Presentation / Q4 & FY 2015 /
- in millions of euros -
* Return on sales
EBIT 2014
EBIT 2015
5,964
8,343
+ 2,379
8.1%*
10.0%* Higher unit sales
Net pricing
Efficiency enhancements
Foreign exchange rates
Higher expenses for new technologies, future products and additional capacity
Page 9
Daimler AG
Daimler Trucks: successful development in heterogeneous market environment
Daimler Corporate Presentation / Q4 & FY 2015 /
Unit sales – in thousands of units –
2014 2015
Revenue – in billions of euros –
EBIT from ongoing business – in millions of euros –
496 502
2014 2015
32.4 37.6
2014 2015
2,073
2,742
Page 10
+1% +16% +32%
Daimler AG
Daimler Trucks: sales growth in NAFTA region and Western Europe
Daimler Corporate Presentation / Q4 & FY 2015 /
- in thousands of units -
2014
496 502
2015
65
192
31
148
57
161
47
167
Rest of world
Latin America
NAFTA region
Western Europe
Asia
64 66
Page 11
Daimler AG
Daimler Trucks: incoming orders below prior-year level
Daimler Corporate Presentation / Q4 & FY 2015 /
- in thousands of units -
2014
551
482
2015
65
168
29
146
55
217
46
165 Rest of world
Latin America
NAFTA region
Western Europe
Asia
68
74
Page 12
Daimler AG
Daimler Trucks: EBIT from ongoing business
Daimler Corporate Presentation / Q4 & FY 2015 /
- in millions of euros -
* Return on sales
EBIT 2014
EBIT 2015
2,073
2,742
+ 669
6.4%*
7.3%* Higher unit sales in NAFTA region and Europe
Efficiency enhancements
Foreign exchange rates
Lower unit sales in Latin America and Indonesia
Higher expenses for new technologies, future products and additional capacity
Warranty and goodwill costs
Page 13
Daimler AG
Mercedes-Benz Vans: success in volatile markets
Daimler Corporate Presentation / Q4 & FY 2015 /
Unit sales – in thousands of units –
2014 2015
Revenue – in billions of euros –
EBIT from ongoing business – in millions of euros –
295 321
2014 2015
10.0 11.5
2014 2015
638
952
Page 14
+9% +15% +49%
Daimler AG
Mercedes-Benz Vans: market success of mid-size vans
Daimler Corporate Presentation / Q4 & FY 2015 /
- in thousands of units -
2014
295 321
2015
22
31
74
194
22 26
60
186
Vito
V-Class* Citan
Sprinter
* incl. Viano
Page 15
Daimler AG
Mercedes-Benz Vans: EBIT from ongoing business
Daimler Corporate Presentation / Q4 & FY 2015 /
- in millions of euros -
* Return on sales
EBIT 2014
EBIT 2015
638
952
+ 314
6.4%*
8.3%*
Higher unit sales
Material costs
Warranty and goodwill costs
Page 16
Daimler AG
Daimler Buses: strong EBIT despite significant market contraction in Latin America
Daimler Corporate Presentation / Q4 & FY 2015 /
Unit sales – in thousands of units –
2014 2015
Revenue – in billions of euros –
EBIT from ongoing business – in millions of euros –
33.2 28.1
2014 2015
4.2 4.1
2014 2015
211 202
Page 17
-15% -2% -4%
Daimler AG
Daimler Buses: lower demand for bus chassis in Brazil
Daimler Corporate Presentation / Q4 & FY 2015 /
- unit sales in thousands -
2014
33.2
28.1
2015
9.6
4.0
7.2
4.7
9.1
3.6
13.6
4.0 Rest of world
Brazil
Mexico
Europe
Latin America (excl. Brazil and Mexico)
2.9
2.6
Page 18
Daimler AG
Daimler Buses: EBIT from ongoing business
Daimler Corporate Presentation / Q4 & FY 2015 /
- in millions of euros -
* Return on sales
EBIT 2014
EBIT 2015
211 202
- 9
5.0%* 4.9%*
Page 19
Higher unit sales and better model mix in Europe
Efficiency enhancements
Foreign exchange rates
Negative impact due to economic situation in Latin America
Daimler AG
Daimler Financial Services: further business growth
Daimler Corporate Presentation / Q4 & FY 2015 /
New business – in billions of euros –
2014 2015
Contract volume – in billions of euros –
EBIT from ongoing business – in millions of euros –
47.9 57.9
12/31/2014 12/31/2015
99.0 116.7
2014 2015
1,387 1,619
Page 20
+21% +18% +17%
Daimler AG
Daimler Financial Services: growth in all regions
Daimler Corporate Presentation / Q4 & FY 2015 /
- contract volume in billions of euros -
12/31/2014
99.0
116.7
12/31/2015
19.8
25.8
50.8
20.2
18.7
21.7
43.1
15.4
Americas
Europe (excl. Germany)
Germany
Africa & Asia-Pacific
Page 21
Daimler AG
Daimler Financial Services: EBIT from ongoing business
Daimler Corporate Presentation / Q4 & FY 2015 /
- in millions of euros -
* Return on equity
EBIT 2014
EBIT 2015
1,387 1,619
+ 232
19.4%* 18.3%*
Higher contract volume
Foreign exchange rates
Higher expenses due to business growth
Page 22
Daimler AG
Contents
Key figures Divisional information Group financials Daimler Group Strategy China Outlook for 2016 Appendix
Daimler Corporate Presentation / Q4 & FY 2015 / Page 23
Daimler AG
Development of EBIT and RoS from ongoing business*
Daimler Corporate Presentation / Q4 & FY 2015 / Page 24
7,4% 8,1%
6,8% 6,5%
7,7%
9,4% 8.2
10.1
8.0 7.2
9.0
- EBIT in billions of euros; RoS in % -
13.8
2010 2011 2012 2013 2015 2014
* EBIT from ongoing business of Daimler Group; return on sales from ongoing business of Daimler Group excluding Daimler Financial Services
Daimler AG
Dividend at record level based on strong net profit
Daimler Corporate Presentation / Q4 & FY 2015 / Page 25
* attributable to shareholders of Daimler AG
2014 2015
7.0
8.4
2015 (proposed)
2014
1.5 thereof:
related to RRPSH and Tesla
2.45
3.25
Net profit* – in billions of euros –
Dividend per share – in euros –
Daimler AG
Development of dividend per share
Daimler Corporate Presentation / Q4 & FY 2015 / Page 26
2.20 2.45
2.25
1.85
2.20
- in euros -
+76%
3.25
2010 2011 2012 2013 2015 (proposed)
2014
Daimler AG
Increased investment as a basis for profitable growth
Daimler Corporate Presentation / Q4 & FY 2015 / Page 27
10.5 10.5 10.5
8.5 9.8
Actual 2010
Actual 2011
Actual 2012
Actual 2013
Actual 2014
Research and development expenditure
Investment in property, plant and equipment
Plan 2016/17
(average p.a.)
14.2
- in billions of euros -
11.6
Actual 2015
5.7
4.8
6.6
5.1
7.2
7.0
Daimler AG
Capital expenditure / Research and development
Daimler Corporate Presentation / Q4 & FY 2015 / Page 28
Actual 2014
Actual 2015
4.8
Plan 2016/2017
(average p.a.)
5.1
7.0
Actual 2014
Actual 2015
5.7 6.6
7.2
Plan 2016/2017
(average p.a.)
- in billions of euros -
Investment in property, plant and equipment
Research and development expenditure
Daimler AG
Contents
Key figures Divisional information Group financials Daimler Group Strategy China Outlook for 2016 Appendix
Daimler Corporate Presentation / Q4 & FY 2015 / Page 29
Daimler AG
Clear aspiration for all our divisions
30
Daimler Buses Daimler Trucks Mercedes-Benz Vans
Daimler Financial Services
“Most successful premium
manufacturer”
Mercedes-Benz Cars
“No 1 in the global truck
business”
“Best financial and mobility
services provider”
“No 1 in the global bus business”
“Most successful player in
worldwide van business”
Daimler Corporate Presentation / Q4 & FY 2015 / Page 30
Daimler AG
The four strategic focus areas of Daimler
Daimler Corporate Presentation / Q4 & FY 2015 / Page 31
Daimler AG
Profit targets
Return on sales-target for the automotive business : 9 percent
9 6 17 10
Mercedes-Benz Cars
8 Daimler Trucks
Mercedes-Benz Vans
Daimler Buses
Daimler Financial Services
Profit targets [Return on Sales / Return on Equity1) in %]
Daimler Corporate Presentation / Q4 & FY 2015 / Page 32
1) Daimler Financial Services
Daimler AG Daimler Corporate Presentation / Q4 & FY 2015 / Page 33
Mercedes-Benz Cars
Daimler AG
2016: The product offensive continues
Daimler Corporate Presentation / Q4 & FY 2015 / Page 34
Daimler AG
Mercedes-Benz E-Class: Masterpiece of intelligence
Daimler Corporate Presentation / Q4 & FY 2015 / Page 35
Daimler AG
smart: Summer in the city
Daimler Corporate Presentation / Q4 & FY 2015 / Page 36
Daimler AG
SLC
Our product offensive continues in 2016!
Daimler Corporate Presentation / Q4 & FY 2015 / Page 37
2016
E-Class Limousine
GLS new generation CLA new generation
SL new generation
smart Convertible
E-Class (LWB)
smart EV C-Class Convertible GLC Coupé
E-Class T-Modell S-Class Convertible
Daimler AG
smart: Summer in the city
Daimler Corporate Presentation / Q4 & FY 2015 / Page 38
Daimler AG
We are on our way to emission-free driving Example: MBC fleet consumption in Europe
230 220 210 200 190 180 170 160 150 140
2009
173
2008
183
0 2007
158
1995
120
2011 2010
130
160
CO
2-em
issi
ons
(g/k
m)
9.2 l 7.3 l 6.9 l 6.3 l 6.4 l
150
6.0 l 2012
123
Actual 2015
100 110
140
5.6 l
230
-44%
until 2020
95
<4.0 l
EU Legislation
2013
134
5.4 l
-6g
129
5.2 l 2014
125
Target 2016
Daimler Corporate Presentation / Q4 & FY 2015 / Page 39
5.0 l
Daimler AG
Our roadmap for sustainable mobility
40
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, CO2 emissions combined: 224-219 g/km.
High-tech combustion engines
Plug-in hybrids
Electric vehicles with battery or fuel-cell
Daimler Corporate Presentation / Q4 & FY 2015 / Page 40
Daimler AG
The new diesel engine OM654 – key figures
Daimler Corporate Presentation / Q4 & FY 2015 / Page 41
Daimler AG
Our Plug-In Hybrid Rollout is at full speed
C-Class
Daimler Corporate Presentation / Q4 & FY 2015 / Page 42
Daimler AG
Product offensive to fuel our sales offensive
2015 1992 2025
Current Product
offensive
Mercedes-Benz sales development
First product
offensive
530 k
1.63 m
Schematic representation
Current Product
offensive First
product offensive
Daimler Corporate Presentation / Q4 & FY 2015 / Page 43
Daimler AG
Efficiency increase for profitable growth
2020 Today
Asset and fixed cost development
Revenue growth
Our growth plan
Schematic representation
Daimler Corporate Presentation / Q4 & FY 2015 / Page 44
Daimler AG
Autonomous driving goes far beyond technology
Daimler Corporate Presentation / Q4 & FY 2015 / Page 45
Daimler AG
Beltbag
Car-to-X-Communication PRE-SAFE® PLUS
PRE-SAFE®
Impulse Side
Active Blind Spot Assist
Active Lane Keeping Assist
Evasive Steering Assist MULTIBEAM LED Headlights with Adaptive High Beam Assist
Remote Park-Pilot
Active Braking Assist with Pedestrian Detection, Cross-Traffic Function and Congestion Emergency Braking Function
DRIVE PILOT with Distance Pilot DISTRONIC, Steering Pilot, Active Lane Change Assist, Active Emergency Stop Assist, Speed Limit Pilot
PRE-SAFE®
The new E-Class takes autonomous and accident-free driving to the next level
Daimler Corporate Presentation / Q4 & FY 2015 / Page 46
Daimler AG
Connectivity as ‘enabling technology’ is the core of…
EVs
Charging Station Search
Range on Map
Remote Services
Examples
Safety
Live Traffic Information
Car-2-X Warnings
Emergency Call
Examples
Autonomous Driving
Car-2-Car Communication
Intelligent Parking Assist
Smart Routing
Examples
Infotainment
Navigation
Radio/ Media
Internet/ Apps
Examples
Daimler Corporate Presentation / Q4 & FY 2015 / Page 47
Daimler AG
Our target: No.1 premium car manufacturer
Sales target In thousand units
Profitability target Return on Sales in %
on a sustainable basis 2,001
2015
significantly higher
than 2015
2016
No. 1
2020
Daimler Corporate Presentation / Q4 & FY 2015 / Page 48
Daimler AG
Daimler Trucks
Daimler Corporate Presentation / Q4 & FY 2015 / Page 49
Daimler AG
Our strategy pays off – and we continue executing it
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
Daimler Corporate Presentation / Q4 & FY 2015 / Page 50
Daimler AG
Broadest and strongest truck portfolio in our history
Daimler Corporate Presentation / Q4 & FY 2015 / Page 51
Daimler AG
Efficiency: Emission-free driving in urban areas
Daimler Corporate Presentation / Q4 & FY 2015 / Page 52
Daimler AG
Efficiency: the most efficient trucks are Daimler Trucks
~10% ~7% ~5%
*10.3% average saving versus competitor vehicles in over 1,900 so-called “fuel duels” in European fleets [8,981,019 kilometers driven and more than 90% duels won] as of December 2015
Mercedes-Benz Actros Freightliner Cascadia Evolution Fuso Super Great V
less fuel than “fuel duel” competitors* less fuel than previous model
below Fuel Efficiency Standard in Japan
Daimler Corporate Presentation / Q4 & FY 2015 / Page 53
Daimler AG
Integrated Powertrain Penetration rate components, yearend 2015
Heavy Duty Engines - DD15 & DD13
Automated Manual Transmission – DT12
Front Axle
Rear Axle
86%
39%
73%
50%
Efficient trucks and integrated powertrain components will strengthen undisputed market leadership in NAFTA
Daimler Corporate Presentation / Q4 & FY 2015 / Page 54
Daimler AG
Heavy investment in captive powertrain components
Capacity Investments HDEP 2020 MDES NAFTA
• Currently no captive NAFTA MD engine
• Target: Repeat HD Powertrain success
story in terms of Fuel Efficiency/TCO
• Invest in roll-out of MD engine platform in
NAFTA
• Daimler Trucks HD engines are
leading in Total Cost of Ownership
in NAFTA & Europe
• To maintain this position,
investments for further technology
improvements of HD engine are
being made
• Strong NAFTA demand challenges
current Heavy-duty (HD) powertrain
capacities
• Invest to provide additional capacities
for HD engine and transmission
HD Transmission HD Engine
Daimler Corporate Presentation / Q4 & FY 2015 / Page 55
Daimler AG
Safety: new Blind Spot Monitor improves active safety
Daimler Corporate Presentation / Q4 & FY 2015 / Page 56
Daimler AG
Pioneering autonomous driving
Daimler Corporate Presentation / Q4 & FY 2015 / Page 57
Daimler AG
Pioneering connectivity
• A modern truck provides all kind of data
• Connecting the truck with the cloud allows for much more efficient logistics
• We’re hitting the ground running: providing advanced telematics with FleetBoard and Detroit Connect
• There’s much more to come – and Daimler Trucks will lead the way
Driver management
Vehicle management
Logistics Management
Daimler Corporate Presentation / Q4 & FY 2015 / Page 58
Daimler AG
With our new Regional Centers, we push sales and after sales in emerging markets
Latin America
Middle East/ Northern Africa
Central Africa
Southern Africa
Southern Asia
Southeast Asia
Daimler Corporate Presentation / Q4 & FY 2015 / Page 59
Daimler AG
Existing platforms Further platforms in discussion
EU LA
Roll-out of intelligent platforms continues: Medium-duty engines for NAFTA, transmission for Fuso
Transmissions
Cab architecture Electrics/ electronics
Chassis
Medium-duty engines
Heavy-duty engines
Daimler Corporate Presentation / Q4 & FY 2015 / Page 60
Daimler AG
Sticking to our target: undisputed leader in the truck industry
Sales target In thousand units
496
2014
>500
2015
700
2020
Profitability target Return on Sales in %
over the cycle
Daimler Corporate Presentation / Q4 & FY 2015 / Page 61
Daimler AG
Daimler Financial Services
Daimler Corporate Presentation / Q4 & FY 2015 / Page 62
Daimler AG
Strong business growth
Daimler Corporate Presentation / Q4 & FY 2015 / Page 63
56 59 63 58
64 72
2006 2007 2008 2009 2010 2011
80
2012
84
2013
99
2014
117
2015
- Contract volume in billions of euros -
Daimler AG Daimler Corporate Presentation / Q4 & FY 2015 / Page 64
* Global average penetration rate with regard to passenger cars and commercial vehicles
Nearly every second vehicle delivered to customers worldwide is being financed or leased*
Services become an ever-more important part of our business model
Insurance
Fleet Management Banking Services
Mobility Services
Mercedes-Benz Rent
Financing Leasing
Daimler AG
Mobility services on growth path
Daimler Corporate Presentation / Q4 & FY 2015 / Page 65
>1,000,000 people use our mobility services
Daimler AG
Contents
Key figures Divisional information Group financials Daimler Group Strategy China Outlook for 2016 Appendix
Daimler Corporate Presentation / Q4 & FY 2015 / Page 66
Daimler AG
Daimler presence in Mainland China
Daimler Corporate Presentation / Q4 & FY 2015 / Page 67
Beijing
Fuzhou
Shenzhen
Mercedes-Benz (China) Ltd.
Equity: DAI 75% / LSH 25% Business: MB PV wholesale
Beijing Mercedes-Benz Sales Service Co., Ltd.
Equity: DAI 51% / BAIC 49% Business: MB PV sales management
Mercedes-Benz Auto Finance Ltd.
Equity: DAI 100% Business: Financial Services
Mercedes-Benz Leasing Co., Ltd.
Equity: DAI 65% / BAIC 35% Business: Finance Lease, Operating Lease
car2go China Co., Ltd.
Equity: DAI 100% Business: car2go business operation
Daimler Northeast Asia Parts Trading & Services Co., Ltd.
Equity: DAI 100% Business: Spare Parts trading & services
Mercedes-Benz Parts Manufacturing & Services Ltd.
Equity: DAI 100% Business: Parts Re-manufacture
Daimler Trucks and Buses (China) Ltd.
Equity: DAI 100% Business: Daimler Trucks & Buses wholesale
Beijing Benz Automotive Co., Ltd.
Equity: DAI 49% / BAIC 51% Product: MB C-Class, E-Class, GLC SUV, GLA SUV
Beijing Foton Daimler Automotive Co., Ltd.
Equity: DAI 50% / Foton 50% Product: MHDT Auman Truck, OM457 Engine
Fujian Benz Automotive Co., Ltd.
Equity: FJMG 50% / DAI 34% / CMC 16% Product: MB Vito/Viano, Sprinter
Shenzhen BYD Daimler New Technology Co., Ltd.
Equity: DAI 50% / BYD 50% Product: DENZA
Daimler Greater China Ltd.
Equity: DAI 100% Business: Investment Holding
Daimler AG
Daimler in China
Daimler Corporate Presentation / Q4 & FY 2015 / Page 68
Beijing
Fuzhou
Shenzhen
Mercedes-Benz Cars
Distribution
Auto Finance R&D
Production Daimler Trucks Production and Distribution
Mercedes-Benz Vans Production and Distribution
NEV Development, Production and Distribution
Daimler AG
We do our homework and we’re determined to pick up the pace in China
Daimler Corporate Presentation / Q4 & FY 2015 / Page 69
Extension Product Portfolio Expansion Dealer Network Integrated Sales Organization
Leverage Financial Services Extension Local R&D Extension Local Production
Daimler AG
Mercedes-Benz Cars Sales Development in China
Daimler Corporate Presentation / Q4 & FY 2015 / Page 70
Retail Sales (incl. Hong Kong) in thousands of units
387
299
236212204
152
2010 2011 2012 2014 2013 2015
Daimler AG
Local production in China is ramping up resulting in increasing retail sales and at-equity result at BBAC
Daimler Corporate Presentation / Q4 & FY 2015 / Page 71
237.894
147.633
114.320108.540
79.171
441
84101142
86
133
0
20.000
40.000
60.000
80.000
100.000
120.000
140.000
160.000
180.000
200.000
220.000
240.000
0
50
100
150
200
250
300
350
400
450
2011 2010
45.396
2015 2014 2013 2012
BBAC retail sales BBAC at-equity result
- in units - - in millions of euros -
Daimler AG
Mercedes-Benz Network Development in China
Daimler Corporate Presentation / Q4 & FY 2015 / Page 72
Number of Outlets
502
447
341
262
207
166
+41
+79
+55
+106
2015 2014 2013 2012 2011 2010
+55
Daimler AG
Key Product Launches in 2015 and 2016
Daimler Corporate Presentation / Q4 & FY 2015 / Page 73
15 new/facelifted cars
launched in 2015
Mercedes-Maybach (January 2015) GLA SUV (April 2015) C-Class W205 (June 2015)
GLE Sport SUV (September 2015) GLE SUV (October 2015) GLC SUV (November 2015)
2016 continue product offensive in China
new E-Class facelifted GLS SUV new C-Class Coupe more to come ……
Daimler AG
Contents
Key figures Divisional information Group financials Daimler Group Strategy China Outlook for 2016 Appendix
Daimler Corporate Presentation / Q4 & FY 2015 / Page 74
Daimler AG
Assumptions for automotive markets in 2016
Car markets
Global
Western Europe
Medium- and heavy-duty truck
markets
NAFTA region
Europe
Japan*
Brazil
Europe
Bus markets Western Europe
Brazil
+3 to 4%
slight growth
around -10%
slight growth
around the prior-year level
around -10%
slight growth for mid-size and large vans
slight growth
significant decrease
USA slight growth
Van markets
Indonesia* around the prior-year level
China significant growth
* including light-duty trucks
USA slight growth
Daimler Corporate Presentation / Q4 & FY 2015 / Page 75
Daimler AG
2016 sales outlook
Significantly higher unit sales Strong momentum from renewed SUV portfolio and further plug-in hybrid models Launch of all-new E-Class, C-Class Coupé, S-Class Cabriolet and smart fortwo cabrio
Unit sales at the prior-year level Sustained market leadership in softening NAFTA market, strong product portfolio across all regions, expansion of global market presence with regional centers
Significantly higher unit sales Significant growth in core market Western Europe Continued momentum from “Mercedes-Benz Vans goes global” strategy
Unit sales at the prior-year level Maintain market leadership in core markets Positive development in Western Europe and Mexico, lower demand in Brazil
Mercedes-Benz Cars
Daimler Trucks
Mercedes-Benz Vans
Daimler Buses
Daimler Corporate Presentation / Q4 & FY 2015 / Page 76
Daimler AG
2016 outlook for EBIT from ongoing business
Slightly above the prior-year level
Slightly above the prior-year level
Slightly above the prior-year level
At the prior-year level
Slightly above the prior-year level
We expect Group EBIT for FY 2016 to increase slightly based on the following expectations for divisional EBIT:
Mercedes-Benz Cars
Daimler Trucks
Mercedes-Benz Vans
Daimler Buses
Daimler Financial Services
Daimler Corporate Presentation / Q4 & FY 2015 / Page 77
Daimler AG
Contents
Key figures Divisional information Group financials Daimler Group Strategy China Outlook for 2016 Appendix
Daimler Corporate Presentation / Q4 & FY 2015 / Page 78
Daimler AG
Key balance sheet and financial figures
Daimler Corporate Presentation / Q4 & FY 2015 /
Daimler Group Dec. 31, 2014 Dec. 31, 2015
Equity ratio 22.1% 23.6%
Gross liquidity 16.3 18.2
Industrial business
Equity ratio 40.8% 44.2%
Net liquidity 17.0 18.6
Free cash flow 5.5 4.0
in billions of euros
Page 79
Daimler AG
Unit sales
Daimler Corporate Presentation / Q4 & FY 2015 /
2014 2015 % change
Daimler Group 2,546.0 2,853.0 +12
of which
Mercedes-Benz Cars 1,722.6 2,001.4 +16
Daimler Trucks 495.7 502.5 +1
Mercedes-Benz Vans 294.6 321.0 +9
Daimler Buses 33.2 28.1 -15
in thousands of units
Page 80
Daimler AG
Revenue by division
Daimler Corporate Presentation / Q4 & FY 2015 /
2014 2015 % change
Daimler Group 129.9 149.5 +15
of which
Mercedes-Benz Cars 73.6 83.8 +14
Daimler Trucks 32.4 37.6 +16
Mercedes-Benz Vans 10.0 11.5 +15
Daimler Buses 4.2 4.1 -2
Daimler Financial Services 16.0 19.0 +19
Contract volume of Daimler Financial Services* 99.0 116.7 +18
in billions of euros
* at year-end
Page 81
Daimler AG
Development of unit sales and revenue by divisions since 2010
Daimler Corporate Presentation / Q4 & FY 2015 / Page 82
2010
1,895
2,853
2015 2010
97.8
149.5
2015
Daimler Financial Services
Daimler Buses
Mercedes-Benz Vans
Daimler Trucks
Mercedes-Benz Cars
Sales – in thousands of units –
Revenue – in billions of euros –
+51% +53%
Daimler AG
Revenue by region
Daimler Corporate Presentation / Q4 & FY 2015 /
2014 2015 % change
Daimler Group 129.9 149.5 +15
of which
Western Europe 43.7 49.6 +13
of which Germany 20.4 22.0 +8
NAFTA 38.0 47.7 +25
of which United States 33.3 41.9 +26
Asia 29.4 33.7 +15
of which China* 13.3 14.7 +10
Other markets 18.7 18.5 -1
in billions of euros
* excluding revenue of not fully consolidated companies
Page 83
Daimler AG
EBIT by division
Daimler Corporate Presentation / Q4 & FY 2015 /
2014 2015 - EBIT in millions of euros; RoS in % - EBIT RoS* EBIT RoS*
Daimler Group 10,752 8.2 13,186 8.9
of which
Mercedes-Benz Cars 5,853 8.0 7,926 9.5
Daimler Trucks 1,878 5.8 2,576 6.9
Mercedes-Benz Vans 682 6.8 880 7.7
Daimler Buses 197 4.7 214 5.2
Daimler Financial Services 1,387 – 1,619 –
Reconciliation 755 – -29 –
* Return on sales; Daimler Group excluding Daimler Financial Services
Page 84
Daimler AG
Group EBIT in 2015
Daimler Corporate Presentation / Q4 & FY 2015 /
- in millions of euros -
* in 2014
-491 -1,249
13,186
+232
10,752
+905 +2,939
• Cars +2,133 • Trucks +425 • Vans +428 • Buses -47
• Cars +451 • Trucks +409 • Vans +15 • Buses +30
• Cars -204 • Trucks -165 • Vans -130 • Buses +8
of which: • Own dealer
network -28 • Recall due to
Takata airbags -340 • Public-sector
levies related to prior periods -121
• Workforce adjustments Daimler Trucks +91
• RRPSH (sale of shares and put option)* -888
• Tesla (hedge of share price and remeasurement)* -594
• EU antitrust proceedings* +600
+98
Actual 2014
Volume/ Structure/ Net pricing
Foreign exchange
rates
Other cost changes
Reconciliation Actual 2015
Financial Services
Special items affecting
EBIT
Page 85
Daimler AG
Group EBIT in Q4 2015
Daimler Corporate Presentation / Q4 & FY 2015 /
- in millions of euros -
* in Q4 2014
-438
+109 2,901 +88
2,138
+367
+692
• Cars +491 • Trucks +17 • Vans +214 • Buses -30
• Cars +363 • Trucks +23 • Vans +36 • Buses -55
• Cars -457 • Trucks +60 • Vans -111 • Buses +70
of which: • Own dealer
network +23 • Recall due to
Takata airbags -340 • Public-sector
levies related to prior periods -121
• Workforce adjustments Daimler Trucks +20
• Hedge of Tesla share price* -106
• EU antitrust proceedings* +600
-55
Actual Q4 2014
Volume/ Structure/ Net pricing
Foreign exchange
rates
Other cost changes
Reconciliation Actual Q4 2015
Financial Services
Special items affecting
EBIT
Page 86
Daimler AG
Special items affecting EBIT
Daimler Corporate Presentation / Q4 & FY 2015 / Page 87
Q4 Full year Mercedes-Benz Cars 2014 2015 2014 2015
Restructuring of own dealer network -81 -49 -81 -64
Relocation of headquarters of MBUSA – -9 – -19
Sale of real estate in the United States – – – +87
Impairment of investments in the area of alternative drive systems – – -30 –
Recall in connection with Takata airbags – -300 – -300
Public-sector levies related to prior periods – -121 – -121
Daimler Trucks
Workforce adjustments -43 -23 -149 -58
Restructuring of own dealer network -16 -24 -16 -47
Sale of Atlantis Foundries – -6 – -61
Impairment of investment in Kamaz -30 – -30 –
in millions of euros
Daimler AG
Special items affecting EBIT
Daimler Corporate Presentation / Q4 & FY 2015 / Page 88
Q4 Full year Mercedes-Benz Vans 2014 2015 2014 2015
Restructuring of own dealer network -17 -18 -17 -29
Relocation of headquarters of MBUSA – -1 – -3
Reversal of impairment of investment in FBAC – – +61 –
Recall in connection with Takata airbags – -40 – -40
Daimler Buses
Business repositioning -3 – -12 –
Restructuring of own dealer network -2 -2 -2 -4
Sale of investment in New MCI Holdings Inc. – +16 – +16
Reconciliation
Measurement of put option for RRPSH – – -118 –
Sale of shares in RRPSH – – +1,006 –
Remeasurement of Tesla shares – – +718 –
Sale of Tesla shares and hedge of Tesla share price +106 – -124 –
Expenses related to EU antitrust proceedings -600 – -600 –
in millions of euros
Daimler AG
EBIT from ongoing business
Daimler Corporate Presentation / Q4 & FY 2015 /
2014 2015 - EBIT in millions of euros; RoS in % - EBIT RoS* EBIT RoS*
Daimler Group 10,146 7.7 13,829 9.4
of which
Mercedes-Benz Cars 5,964 8.1 8,343 10.0
Daimler Trucks 2,073 6.4 2,742 7.3
Mercedes-Benz Vans 638 6.4 952 8.3
Daimler Buses 211 5.0 202 4.9
Daimler Financial Services 1,387 – 1,619 –
Reconciliation -127 – -29 –
* Return on sales; Daimler Group excluding Daimler Financial Services
Page 89
Daimler AG
Q4 2015: EBIT from ongoing business
Daimler Corporate Presentation / Q4 & FY 2015 / Page 90
Q4 2014 Q4 2015 - EBIT in millions of euros; RoS in % - EBIT RoS* EBIT RoS*
Daimler Group 2,824 8.0 3,478 8.7
of which
Mercedes-Benz Cars 1,758 8.7 2,154 9.6
Daimler Trucks 583 6.6 684 6.8
Mercedes-Benz Vans 158 5.8 297 8.5
Daimler Buses 35 2.7 20 1.7
Daimler Financial Services 299 – 387 –
Reconciliation -9 – -64 –
* Return on sales; Daimler Group excluding Daimler Financial Services
Daimler AG
Capital expenditure / Research and development
Daimler Corporate Presentation / Q4 & FY 2015 / Page 91
Investment in property, plant and equipment
Research and development expenditure
Actual 2014
Actual 2015
Plan* 2016-2017
Actual 2014
Actual 2015
Plan* 2016-2017
Daimler Group 4.8 5.1 7.0 5.7 6.6 7.2
of which
Mercedes-Benz Cars 3.6 3.6 5.0 4.0 4.7 5.4
Daimler Trucks 0.8 1.1 1.4 1.2 1.3 1.3
Mercedes-Benz Vans 0.3 0.2 0.6 0.3 0.4 0.4
Daimler Buses 0.1 0.1 0.1 0.2 0.2 0.2
Daimler Financial Services 0.02 0.03 0.02 – – –
in billions of euros * average p.a.
Daimler AG
MBC retail sales by model FY 2015
* incl. Derivatives ** incl. GLA
Retail sales FY 2015 FY 2014 Change in %
Mercedes-Benz 1,871,599 1,650,007 +13%
of which*: A-/B-Class 414,365 389,577 +6%
C-Class 460,497 343,195 +34%
E-Class 301,566 338,205 -11%
S-Class 107,335 107,277 0%
SUVs** 525,894 415,363 +27%
Sports Cars 30,441 31,440 -3%
V-Class 31,501 24,950 +26%
smart 119,382 89,844 +33%
Mercedes-Benz Cars 1,990,981 1,739,923 +14%
Daimler Corporate Presentation / Q4 & FY 2015 / Page 92
- in units -
Daimler AG
MBC retail sales major markets FY 2015
*Incl. Hong Kong **BRIKT: Brazil, Russia, India, South Korea and Turkey
Retail sales FY 2015 FY 2014 Change in %
China* 386,635 299,416 +29% thereof PbP 237,894 147,633 +61%
USA 350,548 340,623 +3% Germany 309,989 282,347 +10% UK 152,929 127,823 +20% BRIKT** 149,357 131,364 +14% Italy 76,064 61,596 +24% Japan 65,983 61,768 +7% France 62,971 55,436 +14% South Korea 45,638 35,985 +27% Spain 45,132 34,001 +33% Russia 42,179 50,131 -16% Canada 39,696 36,474 +9% Turkey 30,433 23,263 +31% Rest of World 351,677 309,003 +14% Mercedes-Benz Cars 1,990,981 1,739,923 +14%
Daimler Corporate Presentation / Q4 & FY 2015 / Page 93
- in units -
Daimler AG
MBC regional retail sales mix FY 2015
17,7%
Rest of World
Canada 2,0%
2,3% Spain
3,2% France
3,3% Japan
3,8% Italy
7,5%
BRIKT**
UK Germany
7,7% 15,6%
USA 17,6%
China*
19,4%
**BRIKT: Brazil, Russia, India, South Korea and Turkey
*Incl. Hong Kong
Daimler Corporate Presentation / Q4 & FY 2015 / Page 94
Daimler AG
Daimler Financial Services: net credit losses* at low level
Daimler Corporate Presentation / Q4 & FY 2015 /
* as a percentage of portfolio, subject to credit risk
0,69% 0,68%
0,50% 0,61%
0,36%
0,51%
0,89% 0,83%
0,43% 0,34% 0,37%
0,31% 0.24%
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Page 95
Daimler AG
Daimler follows a conservative Financial Policy
Daimler Corporate Presentation / Q4 & FY 2015 / Page 96
Clear commitment to a single A rating
Dividend policy on a sustainable basis (40% target pay-out ratio)
No share buybacks planned, further pension contributions will be evaluated
Balanced approach between shareholder interest and credit providers
Daimler AG
Bonds total outstanding as of Q4 2015: 50.8
Bond Maturities
Daimler Corporate Presentation / Q4 & FY 2015 / Page 97
- in billions of euros -
Q1 2016 Q2 2016 Q3 2016 Q4 2016 Next 12 months
Bonds short term
-2.6 -1.2 -4.3 -2.2 -10.3
0-1 Y 1-2 Y 2-3 Y 3-4 Y 4-5 Y 5-6 Y >6 Y
Bonds long term
-10.3 -12.2 -10.5 -3.6 -6.4 -1.7 -6.1
Daimler AG
Bonds and ABS Development 2013 - 2015
Note: Figures may not be additive due to rounding.
Bond development
ABS development
Maturities
New deals
50,842,938,7
16,9
10,8
2015 Actual
-10,2
2014 Actual
-9,4
2013 Actual
7,46,06,1
6,2
3,5
-5,8
2014 Actual
-4,4
2013 Actual 2015 Actual
Daimler Corporate Presentation / Q4 & FY 2015 / Page 98
- in billions of euros -
Daimler AG
Financial Flexibility is Key Liquidity Management Tool
~ 100%
General approach:
Maturities of next 12 months need to be covered by financial flexibility*
* Financial flexibility = Cash + Committed Credit Facilities + Receivables available for sale (RAFS)
available Liquidity
Maturity
Bonds
Acc. Dep.
Bank Loans
ABS
CP Other
Liqui FS
Liqui IB
Credit Facility
ABS Potential
Ensures repayment of maturing debt in case of stress scenarios
Daimler Corporate Presentation / Q4 & FY 2015 / Page 99
Daimler AG
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 Early capital market funding to save credit capacity in growth regions
New markets funded via global and local banks first
Stringent Global Funding Policy
Liquidity matched funding
Interest rate matched funding
Currency matched funding
Country matched funding
Keeping prudent amount of Cash and Committed Credit Facility
Daimler Corporate Presentation / Q4 & FY 2015 / Page 100
Daimler AG
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 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, armed conflicts, 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.
The figures in this document are preliminary and have neither been approved yet by the Supervisory Board nor audited by the external auditor.
Daimler Corporate Presentation / Q4 & FY 2015 / Page 101