Preliminary results for the financial year 2020 significantly above guidance and market expectations

Daimler AG / Key word(s): Preliminary Results
Daimler AG: Preliminary results for the financial year 2020 significantly above guidance and market expectations

28-Jan-2021 / 20:17 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

Preliminary results for the financial year 2020 significantly above guidance and market expectations

Stuttgart, Germany - Daimler completed the financial year of 2020 in a challenging environment with a very strong fourth quarter, in particular with regard to Industrial Free Cash Flow. All divisions contributed to this success.

Industrial Free Cash Flow, Daimler Group EBIT, Mercedes-Benz Cars & Vans Return on Sales adjusted and Daimler Mobility Return on Equity adjusted are all significantly above Daimler's guidance or significantly above market expectations for the financial year 2020.

The Industrial Free Cash Flow in the fourth quarter reflects the continued extensive cost and cash preservation measures and strong operative performances across all divisions leading to favorable cash-conversion ratios.

The following stated figures for the FY 2020 are preliminary and unaudited:

- Industrial Free Cash Flow: € 8,259 million (consensus: € 5,296 million);
  Industrial Free Cash Flow adjusted: € 9,155 million (consensus: n/a)

- Net Industrial Liquidity: € 17.9 billion (end of Q3 2020: € 13.1 billion)

- Daimler Group EBIT: € 6,603 million (consensus: € 5,245 million);
  EBIT adjusted: € 8,641 million (consensus: € 7,120 million)

- Mercedes-Benz Cars & Vans EBIT: € 5,172 million (consensus: € 3,850 million);
  EBIT adjusted: € 6,802 million (consensus: € 5,390 million);
  Return on Sales (RoS) adjusted: 6.9% (consensus: 5.5%)

- Daimler Trucks & Buses EBIT: € 525 million (consensus: € 556 million);
  adjusted EBIT: € 678 million (consensus: € 689 million);
  Return on Sales (RoS) adjusted: 2.0% (consensus: 2.0%)

- Daimler Mobility EBIT: € 1,436 million (consensus: € 1,318 million);
  adjusted EBIT: € 1,595 million (consensus: € 1,449 million);
  Return on Equity (RoE) adjusted: 10.9% (consensus: n/a)

The preliminary results include the following adjustments affecting Daimler Group EBIT and Industrial Free Cash Flow:

- Legal proceedings
   affecting EBIT: € 164 million
   affecting Industrial Free Cash Flow: € 595 million

- Restructuring
  affecting EBIT: € 1,874 million
  affecting Industrial Free Cash Flow: € 301 million

Given the development of successful cost discipline continued in the fourth quarter and expected good underlying demand, Daimler also anticipates a positive business development in 2021. The current semiconductor shortages and COVID-19 disruptions will probably impact the first quarter 2021. Please note these statements are made under the assumption of no further COVID-19 lockdowns.

Daimler AG will publish further key figures of the financial year 2020 and the fourth quarter 2020 on February 18, 2021. Daimler will provide guidance for the financial year 2021 together with the full year results.

EBIT, EBIT adjusted, RoS adjusted, RoE adjusted, Industrial Free Cash Flow and Industrial Free Cash Flow adjusted are defined on pp. 64 and 73 of the Daimler Annual Report 2019.

Hendrik Sackmann
Tel.: +49 (0)711 17 35014

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