Daimler AG „Unicredit Conference Munich September 2011“
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Transcript of Daimler AG „Unicredit Conference Munich September 2011“
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September 2011
Unicredit Conference Munich
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Agenda
Mercedes-Benz Cars
Daimler Trucks
Daimler Group Q2 and Half Year 2011 Results
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Key developments in Q2 2011
Mercedes-Benz Cars on track to post new record sales in 2011
Group sales increased by 6%, and revenue grew by 5%
Daimler Trucks launched the all-new Actros and increased capacity in the Americas
Net industrial liquidity remains on a high level
Q2 2011 marked another strong quarter
Public tender offer for Tognum successfully completed
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Key financials
Q2 2010 Q2 2011
Revenue 25.1 26.3
EBIT 2.1 2.6
Net profit 1.3 1.7
Earnings per share (in euros) 1.18 1.51
Net liquidity industrial business (2010: year-end) 11.9 11.5
Free cash flow industrial business (January-June) 2.8 0.6
- in billions of euros -
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- in millions of euros -
Mercedes-Benz Cars
Higher unit sales and more favorable product mix
Improved pricing
Cost improvements/lower warranty expenses
Material costs and new model launches
Exchange-rate effects
EBITQ2 2010
EBITQ2 2011
1,3761,566
+ 190
9.8%*10.7%*
* Return on sales
Ongoing strong EBIT performance
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- Unit sales in thousands -
Q2 2010
342358
Q2 2011
14%
15%
24%
28%
19%
15%
15%
23%
26%
21%
Mercedes-Benz Cars
Rest of world
Germany
USA
China
Western Europeexcluding Germany
Balanced sales structure
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- Unit sales in thousands* -
Q2 2010
smart
C-Class
E-Class
S-Class
341
A-/B-Class
356
Q2 2011
6%
29%
25%
18%
14%
6%
24%
31%
13%
18%
Mercedes-Benz Cars
* Excluding Mitsubishi vehicles produced and/or sold in South Africa
M-/R-/G-/GL-/GLK-Class
8%8%
Further increase in unit sales
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- in millions of euros -
Higher unit sales in Europe and the US
Higher material and product-related costs
Lower earthquake-related unit sales and revenue at Trucks Asia
300
474
5.1%*
7.1%*
* Return on sales
+ 174
Daimler Trucks
EBITQ2 2010
EBITQ2 2011
Significant improvement in EBIT
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Incoming orders rose significantly- in thousands of units -
Q2 2010
Asia
Western Europe
98
NAFTAregion
121
Q2 2011
Rest of world
Latin America
15
20
14
35
14
15
33
14
40
19
Daimler Trucks
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Significant increase in unit sales despite lower volume in Asia- in thousands of units -
Q2 2010
Asia
Western Europe
84
NAFTAregion
91
Q2 2011
Rest of world
Latin America
12
19
14
29
10
16
27
13
23
12
Daimler Trucks
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Incoming orders in Q2 2011 clearly above prior year and above unit sales- in thousands -
106
8998 96
105
119
8495 91
121
Q2 Q3 Q4 Q1 Q2
Unit sales Incoming orders
2010 2011
Daimler Trucks
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In light of the better than anticipated performance in the first half of 2011 and the currently good market demand, Daimler targets EBIT from the ongoing business which will be better than we previously expected and will very significantly exceed the level of 2010
Based on the currently good market expectations, we expect to post Group revenue of significantly more than €100 billion
Developments in the first half of the year have shown that we continue to make good progress toward the targeted rates of return to be achieved on a sustained basis as of the year 2013
These targets are based on the assumption that the economic and political environment will remain stable and that automotive markets will remain intact
Revenue and earnings outlook for 2011
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Aiming for superior performance
Mercedes-Benz Cars: “Most successful premium manufacturer“
Daimler Trucks: “No. 1 in the global truck business“
Mercedes-Benz Vans: “Most successful van manufacturer”
Daimler Buses: “No. 1 in the global bus business”
Daimler Financial Services: “Best financial services provider”
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8
9
6
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Mission statements and financial targets from 2013 onwards (RoS/RoE* in %)
* Automotive Business: Return on Sales (RoS); Daimler Financial Services: Return on Equity (RoE)** over the cycle
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**
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Agenda
Mercedes-Benz Cars
Daimler Trucks
Daimler Group Q2 and Half Year 2011 Results
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Outlook - FY 2011: Strong sales performance in recovering environment
Market NAFTA: +30 to 35%
Market Europe: +35 to 40%
Market Brazil: +15 to 20%
Market Japan: decline of up to 10%
Daimler Trucks
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Target: >500,000 units in 2013
Market / Sales - Forecast
Global Truck Market HDT/MDT(in mill. units)
Daimler Trucks – Sales(in ‘000 units)
2013e
3.0
2010
2.5355
>500
2013e2010
Daimler Trucks
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Staying the course: Global Excellence
Global Excellence
Operational Excellence2
Management of Cycles1
Growth and Market Exploitation3
Future Product Generations4
Daimler Trucks
Daimler Trucks
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Cycle management complete in NAFTA:Production flexibility in Mexican and US plant network
Increase in Cascadiaflexible capacity by ~100% while lowering total network cost
Maximize Military flexible capacity while decreasing per unit cost across entire network
Maximize Medium duty flexible capacity while not increasing per unit cost across entire network
Portland, OR
Saltillo, Mexico
Mt. Holly, NC
Santiago, Mexico
Cleveland, NC
Daimler Trucks
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State-of-the-art plant in Mexico, Know-how transfer through Truck Operating System
Daimler Trucks
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Production flexibility of over 30% in Wörth
FlexibilityFlexible working hours
Flexible cycle time
300 units/day
430 units/day
+300 hours
-300 hours
50.000 units/year
120.000 units/year
Daimler Trucks
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Global Footprint / Local Expertise
Daimler Trucks
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Significant product launches at all Operating Units in 2010, Fuso with completely new product portfolio
Coronado Super Great Fighter
CanterAxor Atego HEVAtego
Daimler Trucks
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The New Actros: No stone left unturned. Overall Total Cost of Ownership optimisation.
Benchmark fuel consumption:• Euro V: - 6-7%• Euro VI: - 3-4%• Options for moreFleetBoard standard:• fuel consumption -5% to -15% on top 150 tkm maintenanceinterval
Daimler Trucks
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Major profitability leverage is fuel consumption –Importance grows when fuel price increases.
1,35 €/l
1,14 €/l
1,10 €/l
UK (Maxi)
FD
0,60,70,80,9
11,11,21,3
00 02 04 06 08 10
Prei
s [E
UR
/l]
Fuel25%
Repair and Maintenance11%
Administration11%
Toll fare7%
Insurance andtax 5%
Miscellaneous3%
Acquisition10%
Personnel costs28%
Sulphur-free diesel fuel
Daimler Trucks
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Commonality – HDEG: Substitution of multiple platforms by global platforms
HDEG Euro VI
HDEG Post JP09
HDEG Euro VI
HDEG Downgrades
HDEG EPA10
HDEG Downgrades
Market IntroductionHDEG EPA07
North America
Displacement [ltr]
Current Engine PortfolioEngine Power
[kW]
9 12 16
100
400
200
300
OM502LA
OM457LAOM460LA
8DC9
6M7
6D2
S60 14.0LOM501LA
Future Engine Portfolio
Displacement [ltr]
Engine Power
[kW]
9 12 16
100
400
200
300
Heavy-DutyHeavy-Duty
Daimler Trucks
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Heavy-Duty Engine Generation: Start of Production in Mannheim on March 17, 2011
Daimler Trucks
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Agenda
Mercedes-Benz Cars
Daimler Trucks
Daimler Group Q2 and Half Year 2011 Results
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New generation Mercedes-Benz C-Class - Interior
Mercedes-Benz Cars
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New C-Class Coupe
Mercedes-Benz Cars
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New C-Class Coupe - Interior
Mercedes-Benz Cars
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New Mercedes-Benz SLK
Mercedes-Benz Cars
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New Mercedes-Benz SLK - Interior
Mercedes-Benz Cars
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The new Mercedes-Benz M-Class
Mercedes-Benz Cars
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The new Mercedes-Benz M-Class - Interior
Mercedes-Benz Cars
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The new Mercedes-Benz B-Class
Mercedes-Benz Cars
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The new Mercedes-Benz B-Class - Interior
Mercedes-Benz Cars
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Mercedes-Benz Concept A
Mercedes-Benz Cars
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Mercedes-Benz Concept A - Interior & Connectivity
Mercedes-Benz Cars
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Ambition to LeadAmbition to LeadOur refined Brand GoalsOur refined Brand Goals
Daimler R&D – Our key success factors
Superior ProductsSuperior ProductsSustainability in all AspectsSustainability in all Aspects
Operational ExcellenceOperational ExcellenceEfficient R&D StructuresEfficient R&D Structures
Innovation and TechnologyInnovation and TechnologyAhead of the CrowdAhead of the Crowd
Strategic Investments & Strategic Investments & CooperationsCooperationsGreen LeadershipGreen Leadership
Mercedes-Benz Cars
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230
220
210
200
190
180
170
160
150
140
2008 2012
125
173
20162006
183
02001
193
158
1995
230
120
20102009
130
<140
160
CO2 Emissions – Significant reduction of ECE fleet consumption, we are on our way to exceed regulatory targets
CO
2-le
vel (
g/km
)
(l/100km)
-45%
9,2 l 7,7 l 7,3 l 6,9 l 6,3 l6,4 l <5,6 l <5,0 l
-30%
Mercedes-Benz Cars
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Sustainability – Our roadmap to emission-free mobility
Emissionsfreies Fahren
Locally emission-free electric vehicles with battery and fuel cell
E-CELL, F-CELL,E-CELL PLUS
Optimization of vehicles with high-tech
combustion engines
CDI, CGI, BlueTEC, DIESOTTO
Further increase of efficiency
through hybridization
HYBRID, BlueTEC HYBRID,Plug-in HYBRID
Clean fuels for combustion engines
H2Energy sources for
future mobility
Mercedes-Benz Cars
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DirectInjection
ECOStart-Stop-Function
VentilatorCover
Tires
A/C Compressor Fuel Pump
Gear ShiftIndicator
Aerodynamics
Generator
Power Steering
C220 CDI C220 CDI BE:BE: 4,44,4 l/100km;l/100km; 117 117 gg CO2/kmCO2/km
BlueEfficiency to reduce Emissions – Optimization of all relevant components prooving to be effective
Lightweight Constructionand Materials
High-tech Powertrains
Mercedes-Benz Cars
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Supp
lier
€
€/kg
CFR
P Pa
rts
Today Cost Targets
complexparts simple
parts
SLR
Spo
rts
Car
Year 2000
Carbon Fiber – Cost reduction through strategic cooperation
Model Year 2000 SLR Sports Car Tomorrow
Joint-Venturewith
Opt
imiz
ed
Future
Mercedes-Benz Cars
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Hybridization – Electrification safeguards economic sustainability of large premium cars
S400 HYBRID:7,9 l/100km (186 g/km)
ML450 HYBRID :7,7 l/100km (182 g/km)
S500 Plug-In- HYBRID : 3,2 l/100km (74 g/km)
E300 HYBRID :4,4 l/100km (<120 g/km)
Next Gen.S-Class
Modular Mercedes-Benz Hybrid-concept for maximum customer benefit
2009 2011
Mercedes-Benz Cars
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Concept B-Class E-CELL PLUS
3-cyl. turbo engine, optimized as extendertwo-gear REX-transmission 2 highly efficient e-motors
Range: up to 600 kmElectrical Range: 100 kmEmissions: 32 g CO2 / km
Mercedes-Benz Cars
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Zero-Emission Vehicles – Leading by experience
EVs with Fuel CellEVs with Battery
Generation 1: Worldwide Test FleetA-Class F-CELL
2004
Generation 2: Series ProductionWorldwide Test fleet B-Class F-CELL
2010
Generation 3: Mass ProductionMercedes-Benz F-CELL
starting 2014
Generation 1 : Test Fleetsmart fortwo electric drive in London
2007
Generation 2: Series ProductionCustomer fleet smart electric drive
& A-Class E-CELL2009/10
Generation 3: Mass Productionsmart und MB electric drive
starting 2012
Modular E-Drive components allow for synergies and top quality
Mercedes-Benz Cars
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4 synchronous E-Motors: 392 kW, 880 NmMarket entry in2013
E-Motor: 70 kW, 290 Nmin series production
E-Motor: 100 kW, 290 Nmin series production200 vehiclesin customers handssince 2010
E-Motor: 60 kW, 280 Nmin series production
smart fortwoelectric drive
Mercedes-BenzA-Class E-CELL
Mercedes-BenzB-Class F-CELL
Mercedes-BenzVito E-CELL
250km 400km 130km
Mercedes-Benz SLS AMG E-CELL
E-Motor: 30 kW, 120 Nmin series production>2.000 vehicles‘in customers hands since 2009
140km 200km
Electric Vehicles – With the broadest portfolio of series production EVs we lead the competition
Driving Range
Mercedes-Benz Cars
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Mercedes-Benz F-CELL World Drive - maturity proven!
3 B-Class F-CELL, 125 days, 30000km,4 continents and 14 countries …
… have proven that Mercedes-Benz fuel-celltechnology is ready for series production!
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Traction electric motor production in
JV with Integrated electric motor (e.g., hybrids) in-house production in
Berlin
We control all key technological and cost aspects
Strengthening Key Know-How – Cooperation with BOSCH to develop and produce traction electric motors
B-Class REXBB--ClassClass REXREX E-Class HybridEE--ClassClass HybridHybrid
Mercedes-Benz Cars
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OEMs Supplier & engineering service provider
Plant / processengineering
Electric / electronics
Chemical industry Logistics Scientific
community
High-Voltage Batteries – Integrated battery production in Kamenz, Germany enables competitive advantages
Business and employment opportunities:
+
Mercedes-Benz Cars
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Disclaimer
This document contains forward-looking statements that reflect our current views about future events. The words “anticipate,” “assume,” “believe,” “estimate,” “expect,” “intend,” “may,” “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 funding possibilities on the credit and financial markets; events of force majeure including natural disasters, acts of terrorism, political unrest, industrial accidents and their effects on our sales, purchases, production or financial services activities; changes in currency exchange rates; a shift in consumer preference towards smaller, lower margin vehicles; or a possible lack of acceptance of our products or services which limits our ability to achieve prices as well as to adequately utilize our production capacities; price increases in 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 of companies in which we hold a significant equity interest, most notably EADS; 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 governmental 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 Report” in Daimler’s most recent Annual Report. If any of these risks and uncertainties materialize, or if the assumptions underlying any of our forward-looking statements prove incorrect, then our 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. Any forward-looking statement speaks only as of the date on which it is made.