daimler ag “q1 2012 results”

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  • 1. Q1 2012 ResultsBodo UebberMember of the Board of ManagementFinance & Controlling and Daimler Financial ServicesApril 27, 2012

2. Highlights in Q1 2012 Group sales502,000 (+9%) Sales record at Mercedes-Benz Cars 338,000 (+9%) Strong sales increase at Daimler Trucks108,000 (+21%) Revenue 27 billion(+9%) EBIT from ongoing business 2.2 billion (+3%) Net profit 1.4 billion (+20%) World premiere of new A-Class and introduction of new SL Opening of new plant for compact cars in Kecskemt Opening of our new BharatBenz truck plant in India 2 3. Key financials- in billions of euros -Q1 2011 Q1 2012 Revenue24.727.0 EBITas reported2.0 2.1from ongoing business2.1 2.2 Net profit1.2 1.4 Earnings per share (in euros)0.991.25 Net liquidity industrial business (2011: year-end) 12.010.1 Free cash flow industrial business -0.5-2.03 4. Solid net industrial liquidity- in billions of euros - Free cash flow industrial businessQ1 2012: minus 2.0 billion 12.00.3-2.0 -0.30.110.1Net liquidity Earnings and Working capital Tognum/Bergen Other Net liquidity industrialother cash flowimpactand Foton industrial 12/31/2011impact3/31/2012 4 5. Key balance-sheet figures- in billions of euros -Daimler Group Dec. 31, 2011 Mar. 31, 2012Equity ratio 26.3% 26.5%Gross liquidity 11.913.6Industrial businessEquity ratio 46.4% 45.4%Net liquidity 12.010.15 6. Mercedes-Benz CarsMercedes-Benz Cars: EBIT almost at prior years level- in millions of euros -- 36 9.3%* 8.4%* Sales increase 1,288 1,252 Foreign exchange rates Temporary regional pricing Higher expenses for new technologies, new products and additional capacity Discounting of non-current provisions with lower interest rates EBITEBITQ1 2011 Q1 2012* Return on sales6 7. Mercedes-Benz CarsBalanced sales structure- Unit sales in thousands -33831121% Rest of world20%Western Europe27%27% excl. Germany18% 19% Germany19% 20% USA16% 13% ChinaQ1 2011 Q1 20127 8. Mercedes-Benz CarsUnit sales increase mainly driven by C-Class- Unit sales in thousands - 338*311*27 smart 2461 SUV segment5852 A-/B-Class4875 100 C-Class8376 E-Class2122 S-ClassQ1 2011Q1 2012* Including Mitsubishi vehicles produced and/or sold in South Africa8 9. Mercedes-Benz CarsProduct highlights New A-Class New B-Class E 300 BlueTEC HYBRID New SL roadster9 10. Daimler TrucksDaimler Trucks: EBIT affected by product offensive andslow start in Latin America- in millions of euros -- 30 Sales increase in NAFTA and Asia 6.6%* Prior-year figures included effects related to5.2%* 413 natural disaster in Japan383 Lower unit sales in Latin America Costs related to product offensive Discounting of non-current provisions with lower interest rates EBITEBITQ1 2011 Q1 2012* Return on sales 10 11. Daimler TrucksSales increase driven by business in NAFTA and Asia- in thousands of units -10812Rest of world 89 1140Asia 3010Latin America 1433NAFTA region 22 12 13Western EuropeQ1 2011 Q1 201211 12. Daimler TrucksIncoming orders at unit sales level- in thousands of units -119 15 10714Rest of world 3740Asia 1310Latin America 3828NAFTA region 16 15Western EuropeQ1 2011 Q1 201212 13. Daimler TrucksProduct highlightsBharatBenz trucksMercedes-Benz Actros Auman heavy truck Detroit DD16 engine13 14. Mercedes-Benz VansMercedes-Benz Vans: EBIT at continued high level- in millions of euros --58.8%* 8.0%* Lower warranty 173 168 Lower unit sales & model mix Higher R&D costs EBIT EBITQ1 2011Q1 2012* Return on sales 14 15. Mercedes-Benz VansSlight decrease in unit sales- Unit sales in thousands - 54.051.20.7 0.6 Vario 33.132.7 Sprinter 14.5 13.4 Vito5.74.5 VianoQ1 2011Q1 2012 15 16. Mercedes-Benz VansProduct highlightNew city van Citan 16 17. Daimler BusesDaimler Buses: Repositioning initiated- in millions of euros -- 70-33Lower unit sales in Latin America-4.0%* Repositioning of the European business -103-14.1%* EBITEBITQ1 2011 Q1 2012* Return on sales17 18. Daimler BusesDecrease in unit sales mainly in Brazil- Unit sales in thousands - 7.7 0.6 1.6 4.9 0.6Rest of worldLatin America 4.0 1.1(excl. Brazil) 1.7Brazil 0.6 0.6NAFTA region 0.9 0.9EuropeQ1 2011 Q1 2012 18 19. Daimler BusesRepositioning of bus business in Europe and NorthAmerica to reduce break-even level Increase market share in Western Europe and presence outside of Europe Focus on product portfolio with reduced complexity Repositioning of European Balance production between high and low labor cost locations business (GLOBE2013) Reduce fixed and material costs Streamline organizational structures with lower headcount Repositioning Close Orion operations; parts and service business to be of Northcontinued American New setup of Setra business business19 20. Daimler Financial ServicesDaimler Financial Services: Stable earnings development- in millions of euros - + 23 Higher contract volume344321Prior-year figures included provisions for expected credit losses in Japan Lower interest margins EBIT EBITQ1 2011Q1 201220 21. Daimler Financial ServicesStable contract volume- in billions of euros - 71.771.69.910.0 Africa & Asia/Pacific 30.630.2 Americas 14.214.4 Europe (excl. Germany) 17.017.0 Germany12/31/20113/31/2012 21 22. Daimler Financial ServicesProduct highlights 22 23. Assumptions for automotive markets 2012Global Growth of approximately 4% Carmarkets U.S./AsiaSignificant growth potential expectedGlobal At least at the level of 2011NAFTA+15% to +20% TruckEurope 0% to -10%marketsJapan+15% to +20%Brazil -10% to -20%, due to new emission regulationsEurope/China Slight decrease of medium and large vans Vanmarkets U.S. Growth of more than 10%Western Europe Stable market development Busmarkets Brazil Decrease due to introduction of new emission regulations23 24. Sales outlook FY 2012 Sales increase exceeding market growth Launch of six attractive new products in 2012 Growth potential especially in NAFTA, China and emerging markets Unit sales should continue to increase Growth expected in NAFTA and Asia Declining sales in Latin America due to weak market In Europe stronger performance than market Positive sales development expected New city van Citan to be introduced in fall 2012 Unit sales expected below previous years level Slight recovery for complete buses in Europe expected24 25. 2012 targets for EBIT from ongoing businessEBIT in the magnitude of 2011EBIT at prior-year levelEBIT at least at prior-year levelEBIT at least at prior-year levelEBIT below prior-year levelEBIT slightly below prior-year level Guidance is based on current market expectations and exchange rate environment25 26. Q1 2012 ResultsAppendixApril 27, 2012 27. Group EBIT in Q1 2012- in millions of euros -82 -514 278 Cars +80 230 2,130 2,031 Trucks-2 Vans+6 Cars +198 Buses -1 23 Trucks +131 Vans-20 Cars-315 Buses -31 Trucks-206 Vans+9 Buses -1thereof:Discounting ofprovisions -146 Cars-89 Trucks-27 Actual Volume/ Foreign Other costFinancial OtherActualQ1 2011Structure/exchangechangesServicesQ1 2012 Net pricing rates27 28. Special items affecting EBIT- in millions of euros - 1st quarterDaimler Trucks20112012 Natural disaster in Japan-49 Daimler Buses Business repositioning* -36Daimler Financial Services Natural disaster in Japan-29 * During the course of the year 2012, Daimler Buses expects further special items from the repositioning of the European businessof up to 50 million and of the North American business of approximately 60 million.28 29. EBIT from ongoing business- in millions of euros -Q1 2011 Q1 2012Daimler Group2,109 2,166of which Mercedes-Benz Cars1,288 1,252 Daimler Trucks 462 383 Mercedes-Benz Vans 173 168 Daimler Buses -33 -67 Daimler Financial Services 350 344 Reconciliation -131 8629 30. Daimler Financial ServicesNet credit losses* decreased significantly 0.89% 0.83% 0.69% 0.68% 0.61%0.50%0.51% 0.43% 0.36% 0.31%**2003 2004 2005 20062007 2008 20092010 2011 2012YTD* as a percentage of portfolio, subject to credit risk** annualized rate30 31. DisclaimerThis document contains forward-looking statements that reflect our current views about future events. The wordsanticipate, assume, believe, estimate, expect, intend, may, plan, project, should and similarexpressions are used to identify forward-looking statements. These statements are subject to many risks anduncertainties, including an adverse development of global economic conditions, in particular a decline of demand inour most important markets; a worsening of the sovereign-debt crisis in the eurozone; a deterioration of our fundingpossibilities on the credit and financial markets; events of force majeure including natural disasters, acts ofterrorism, political unrest, industrial accidents and their effects on our sales, purchasing, production or financialservices activities; changes in currency exchange rates; a shift in consumer preference towards smaller, lowermargin vehicles; or a possible lack of acceptance of our products or services which limits our ability to achieveprices as well as to adequately utilize our production capacities; price increases in fuel or raw materials; disruptionof production due to shortages of materials, labor strikes, or supplier insolvencies; a decline in resale prices of usedvehicles; the effective implementation of cost-reduction and efficiency-optimization measures; the business outlookof companies in which we hold a significant equity interest, most notably EADS; the successful implementation ofstrategic cooperations and joint ventures; changes in laws, regulations and government policies, particularly thoserelating to vehicle emissions, fuel economy and safety; the resolution of pending governmental investigations andthe conclusion of pending or threatened future legal proceedings; and other risks and uncertainties, some of whichwe describe under the heading Risk Report in Daimlers most recent Annual Report. If any of these risks anduncertainties materialize, or if the assumptions underlying any of our forward-looking statements prove incor