results for q1 2017 - daimler · daimler ag ebit by division q1 2017 results / april 26, 2017 / q1...

Q1 2017 Results

Bodo Uebber

Member of the Board of Management

Finance & Controlling and Daimler Financial Services

April 26, 2017Q1 2017 Results / April 26, 2017 /

Daimler AG

Contents

Q1 2017 Results / April 26, 2017 /

Results for Q1 2017

Outlook for 2017

Development at the divisions

Daimler AG

Highlights of Q1 2017

Q1 2017 Results / April 26, 2017 /

Completion of the E-Class model family with the new E-Class

Coupé and E-Class Cabriolet

Start of production of the newly redesigned Mercedes-Benz GLA

compact SUV

Launch of Truck Data Center and the new digital services

Mercedes-Benz Uptime and FleetBoard Manager

Strategic investment in charging solution provider ChargePoint

Presentation of the new pickup Mercedes-Benz Concept X-CLASS

study at the Geneva Motor Show

Unit sales– in thousands of units –

Q1 2016 Q1 2017

684754

+10%

Net profit– in billions of euros –

Q1 2016 Q1 2017

1.4

2.8

+100%

Revenue– in billions of euros –

Q1 2016 Q1 2017

35.038.8

+11%

EBIT– in billions of euros –

Q1 2016 Q1 2017

2.1

4.0

+87%

Investments in PayCash Europe for electronic payment services

and launch of services of AutoGravity for digital vehicle financing

Strengthening of the digital mapping business of HERE by

involvement of new investors (Intel, Chinese investor consortium)

Daimler AG

Continued high level of net industrial liquidity

Q1 2017 Results / April 26, 2017 /

* dividend of €3.5 billion not paid out until April

Free cash flow industrial business

Q1 2017: €1.9 billion

Net industrial

liquidity

12/31/2016

Earnings and

other cash flow

impact

Working capital

impact

Other(mainly capital

increase to DFS)

Net industrial

liquidity

3/31/2017*

+0.9 21.1-0.5

19.7

+0.7

- in billions of euros -

+0.3

Sale of real estate

in Japan

Daimler AG

Strong financial and balance sheet figures support our

financial strength and A-rating

Q1 2017 Results / April 26, 2017 /

Daimler Group Dec. 31, 2016 March 31, 2017

Equity ratio 22.9% 23.6%

Gross liquidity 21.7 21.6

Funded status of pension obligations -7.8 -7.7

Industrial business

Equity ratio 44.7% 45.3%

Net liquidity 19.7 21.1

Free cash flow (January-March) 0.3 1.9

in billions of euros

Daimler AG

Double-digit growth in units sales of passenger cars, vans

and buses

Q1 2017 Results / April 26, 2017 /

Q1 2016 Q1 2017 % change

Daimler Group 683.9 754.3 +10

of which

Mercedes-Benz Cars 496.8 568.1 +14

Daimler Trucks 105.7 94.0 -11

Mercedes-Benz Vans 76.6 86.8 +13

Daimler Buses 4.8 5.4 +12

in thousands of units

Daimler AG

Mercedes-Benz Cars: product highlightsThe new GLA compact SUV celebrated its world premiere

Q1 2017 Results / April 26, 2017 /

Daimler AG

Mercedes-Benz Cars: product highlightsThe new E-Class Coupé and Cabriolet complete the E-Class family

Q1 2017 Results / April 26, 2017 /

Daimler AG

Mercedes-Benz Cars: product highlightsPresentation of the Mercedes-AMG GT Concept hybrid show car

Q1 2017 Results / April 26, 2017 /

Daimler AG

Daimler Trucks: product highlightsFirst Mercedes-Benz Actros with Active Brake Assist 4 and Sideguard Assist in use

Q1 2017 Results / April 26, 2017 /

Daimler AG

Daimler Trucks: product highlightsCustomer trial with small series of the Mercedes-Benz Urban eTruck

Q1 2017 Results / April 26, 2017 /

Daimler AG

Daimler Trucks: product highlightsThe new Cascadia, Freightliner’s flagship in heavy-duty class 8

Q1 2017 Results / April 26, 2017 /

Daimler AG

Mercedes-Benz Vans: product highlightsPresentation of the new Mercedes-Benz Concept X-CLASS pickup

Q1 2017 Results / April 26, 2017 /

Daimler AG

Mercedes-Benz Vans: product highlightsInvestment in Starship Technologies – the leading manufacturer of delivery robots

Q1 2017 Results / April 26, 2017 /

Daimler AG

Daimler Buses: product highlights

Q1 2017 Results / April 26, 2017 /

Strong complete bus business – positive development of long-distance

coach business in Europe

Daimler AG

Daimler Financial Services: highlights Mobility Services

Q1 2017 Results / April 26, 2017 /

Daimler AG

Daimler Financial Services connects passenger car fleetsNew connectivity services for company fleets

Q1 2017 Results / April 26, 2017 /

Bundling expertise in fleet connectivity

New “connect business” service in addition to Mercedes me

Vehicle monitoring & maintenance service

Vehicle logistic services

Optimization of existing services and increase of efficiency

Integration via web-based front end or standardized interface

Daimler AG

Revenue by division

Q1 2017 Results / April 26, 2017 /

Q1 2016 Q1 2017 % change


of which

Mercedes-Benz Cars 20.0 22.7 +14

Daimler Trucks 8.2 7.9 -3

Mercedes-Benz Vans 2.8 3.0 +6

Daimler Buses 0.8 0.9 +8

Daimler Financial Services 4.9 5.9 +22

Contract volume of Daimler Financial Services* 132.6 135.0 +2


* figures as of December 31, 2016 and March 31, 2017

Daimler AG

Revenue by region

Q1 2017 Results / April 26, 2017 /

Q1 2016 Q1 2017 % change


of which

Europe 14.2 16.2 +14

of which Germany 5.3 5.7 +9

NAFTA 10.6 11.1 +4

of which United States 9.4 9.7 +3

Asia 8.2 9.1 +10

of which China* 3.7 4.2 +15

Other markets 2.0 2.4 +19


* excluding revenue of not fully consolidated companies

Daimler AG

EBIT by division

Q1 2017 Results / April 26, 2017 /

Q1 2016 Q1 2017

- EBIT in millions of euros; RoS in % - EBIT RoS* EBIT RoS*

Daimler Group 2,148 5.7 4,008 10.6

of which

Mercedes-Benz Cars 1,395 7.0 2,234 9.8

Daimler Trucks 516 6.3 668 8.4

Mercedes-Benz Vans 301 10.7 357 11.9

Daimler Buses 39 4.7 65 7.2

Daimler Financial Services 432 – 524 –

Reconciliation -535 – 160 –

* Return on sales; Daimler Group excluding Daimler Financial Services

Daimler AG

Group EBIT in Q1 2017

Q1 2017 Results / April 26, 2017 /

- in millions of euros -

-431

4,008

-11

2,148

+539

+449

• Cars +668• Trucks -255• Vans +25• Buses +11

• Cars +417• Trucks +55• Vans +57• Buses +10

• Cars -458• Trucks +83• Vans -61• Buses +5

+532

Actual

Q1 2016

Volume/

Structure/

Net pricing

Foreign

exchange

rates

Other cost

changes

Disclosed

items

Q1 2017

Actual

Q1 2017

Reconciliation

Financial

Services

+92

• Cars:New investors in HERE +183

• Trucks:Sale of real estate in Japan +267

• Reconciliation:Impairment reversal BAIC Motor +240

+690

Disclosed

items

Q1 2016

of which:

• Reconciliation:Impairment BAIC Motor +244

Currency transactions +222

Daimler AG

Contents

Q1 2017 Results / April 26, 2017 /

Results for Q1 2017

Outlook for 2017


Daimler AG

Mercedes-Benz Cars and Vans: continued product offensive

Q1 2017 Results / April 26, 2017 /

E-Class Coupé

E-Class All Terrain E-Class CabrioletS-Class facelift

AMG GT Roadster Premium PickupX-Class

smart forfourelectric drive

smart cabrioelectric drive

GLA facelift smart fortwoelectric drive

20182017

Jan. Feb. March May June July August Sept. Oct. Nov. Dec.April

Daimler AG

Assumptions for automotive markets in 2017

Q1 2017 Results / April 26, 2017 /

* including light-duty trucks

Car markets

Global

Europe

Medium- and

heavy-duty truck

markets

NAFTA region

EU30

Japan*

Brazil

EU30

Bus marketsEU30

Brazil

+1 to 2%

around -5%, with Class 8 weaker than Class 6-8

USA

Van markets

Indonesia*

China slight growth

USA

around the prior-year level



slight decrease

slight increase

slight growth


slight growth

significant growth from low level

slight growth

Daimler AG

2017 sales outlook

Q1 2017 Results / April 26, 2017 /

Significantly higher unit sales

Further growth particularly in China and Europe

Strong momentum especially from new E-Class models and SUV portfolio

Unit sales around the prior-year level

Unit sales around the prior-year level in Europe, North America and Japan

Sales in Brazil around the low level of prior year; sales increase in India


Significant growth in core market EU30

Continued momentum from “Mercedes-Benz Vans goes global” strategy


Maintain market leadership in core markets

Moderate growth in EU30 region, significant sales increase in Brazil

Mercedes-Benz Cars

Daimler Trucks

Mercedes-Benz Vans

Daimler Buses

Daimler AG

2017 outlook for EBIT

Q1 2017 Results / April 26, 2017 /

Significantly above the prior-year level

Slightly below the prior-year level

Slightly above the prior-year level

Slightly below the prior-year level

Slightly above the prior-year level

We expect Group EBIT for FY 2017 to increase significantly

based on the following expectations for divisional EBIT:

Mercedes-Benz Cars

Daimler Trucks

Mercedes-Benz Vans

Daimler Buses

Daimler Financial Services

Daimler AG

Contents

Q1 2017 Results / April 26, 2017 /

Results for Q1 2017

Outlook for 2017


Daimler AG

Mercedes-Benz Cars: continued business growth based on

strong product portfolio

Q1 2017 Results / April 26, 2017 /

Unit sales – in thousands of units –

Q1 2016 Q1 2017


EBIT– in millions of euros –

497

568

Q1 2016 Q1 2017

20.0

22.7

Q1 2016 Q1 2017

1,395

2,234

+14% +14% +60%

Daimler AG

Mercedes-Benz Cars: EBIT

Q1 2017 Results / April 26, 2017 /


* Return on sales

EBIT

Q1 2016

EBIT

Q1 2017

1,395

2,234

+ 839

7.0%*

9.8%*

Higher unit sales

Foreign exchange rates

Remeasurement of the equity investment in

THERE Holding B.V.

Higher expenses for new technologies and

future products

Daimler AG

Mercedes-Benz Cars: sales increase by 14% reflecting our

strong product line-up

Q1 2017 Results / April 26, 2017 /

- in thousands of units -

Q1 2016

497

568

Q1 2017

102

125

95

18

6

107

108

61

21

7

smart

E-Class

C-Class

A-/B-Class

S-Class

Sports Cars34

35

SUVs

158

188

Daimler AG

Mercedes-Benz Cars: globally balanced sales structure with

strong development in all major regions

Q1 2017 Results / April 26, 2017 /


Q1 2016

497

568

Q1 2017

155

78

74

167

108

77

70

153

Rest of world

Germany

United States

China

Europeexcl. Germany

89

94

Daimler AG

Mercedes-Benz Cars in China: huge sales growth with higher

share of locally produced vehicles

Q1 2017 Results / April 26, 2017 /


208239

293

400

155

locally produced

imported

2017

YTD 03

201420132012 2015

108

100

123

116

147

146

150

250 45

110

488

2016

171

317

Daimler AG

Daimler Trucks: increase in EBIT driven by sale of real estate

in Japan

Q1 2017 Results / April 26, 2017 /


Q1 2016 Q1 2017



10694

Q1 2016 Q1 2017

8.2 7.9

Q1 2016 Q1 2017

516

668

-11% -3% +29%

Daimler AG

Daimler Trucks: EBIT

Q1 2017 Results / April 26, 2017 /


* Return on sales

EBIT

Q1 2016

EBIT

Q1 2017

516

668

+ 152

6.3%*

8.4%*

Efficiency enhancements


Sale of real estate at the Kawasaki site in Japan

Lower unit sales in the NAFTA region

Daimler AG

Daimler Trucks: sales decrease by 11% mainly driven by

NAFTA region

Q1 2017 Results / April 26, 2017 /


* European Union, Switzerland and Norway

Q1 2016

106

94

Q1 2017

17

33

6

30

15

40

6

35

Rest of world

Latin America

NAFTA region

EU30*

Asia

10

8

Daimler AG

Daimler Trucks: incoming orders increase significantly driven

by NAFTA region, Indonesia and Middle East

Q1 2017 Results / April 26, 2017 /



Q1 2016

99

124

Q1 2017

21

46

5

40

21

29

6

33

Rest of world

Latin America

NAFTA region

EU30*

Asia10

12

Daimler AG

Mercedes-Benz Vans: strong development based on very

successful products

Q1 2017 Results / April 26, 2017 /


Q1 2016 Q1 2017



76.686.8

Q1 2016 Q1 2017

2.83.0

Q1 2016 Q1 2017

301

357

+13% +6% +19%

Daimler AG

Mercedes-Benz Vans: EBIT

Q1 2017 Results / April 26, 2017 /


* Return on sales

EBIT

Q1 2016

EBIT

Q1 2017

301

357

+ 56

10.7%*

11.9%*

Higher unit sales


Higher expenses for new technologies and

future products

Daimler AG

Mercedes-Benz Vans: sales increase by 13% due to market

success of attractive product portfolio

Q1 2017 Results / April 26, 2017 /


Q1 2016

76.6

86.8

Q1 2017

5.4

13.2

23.2

45.0

5.0

9.3

21.3

41.0

Vito

V-Class

Citan

Sprinter

Daimler AG

Daimler Buses: positive development driven by strong

European business and higher unit sales in Latin America

Q1 2017 Results / April 26, 2017 /


Q1 2016 Q1 2017



4.85.4

Q1 2016 Q1 2017

0.80.9

Q1 2016 Q1 2017

39

65

+12% +8% +67%

Daimler AG

Daimler Buses: EBIT

Q1 2017 Results / April 26, 2017 /


* Return on sales

EBIT

Q1 2016

EBIT

Q1 2017

39

65

+ 26

4.7%*

7.2%*

Better mix in Europe


Lower unit sales in Turkey

Daimler AG

Daimler Buses: sales increase by 12% mainly due to higher

demand in emerging markets

Q1 2017 Results / April 26, 2017 /


Q1 2016

4.8

5.4

Q1 2017

1.4

0.7

1.4

1.0

1.6

0.5

1.5

0.7

Rest of world

Brazil

Mexico

EU30*

Latin America(excl. Brazil and Mexico)

0.5

0.9


Daimler AG

Daimler Financial Services: further business growth

Q1 2017 Results / April 26, 2017 /

New business – in billions of euros –

Q1 2016 Q1 2017

Contract volume– in billions of euros –


13.7

16.8

12/31/2016 3/31/2017

132.6 135.0

Q1 2016 Q1 2017

432

524

+23% +2% +21%

Daimler AG

Daimler Financial Services: EBIT

Q1 2017 Results / April 26, 2017 /


* Return on equity

EBIT

Q1 2016

EBIT

Q1 2017

432

524

+ 92

17.4%*

19.3%*

Higher contract volume

Daimler AG

Daimler Financial Services: further increase in contract

volume to 135.0 billion euros (+2%)

Q1 2017 Results / April 26, 2017 /

- in billions of euros -

12/31/2016

132.6 135.0

3/31/2017

22.3

32.2

53.7

26.8

21.8

31.6

54.2

24.9

Americas

Europe (excl. Germany)

Germany

Africa & Asia-Pacific

Daimler AG

Daimler Financial Services: net credit losses* at low level

due to disciplined risk approach

Q1 2017 Results / April 26, 2017 /

* 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%0.31%

0.25%

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2017

YTD

2015 2016

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 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 or of

investigations requested by governments 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.

Q1 2017 Results / April 26, 2017 /

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