DGAP-Adhoc: Daimler AG: Preliminary results for the second quarter 2020 above market expectations

July 16, 2020

Preliminary results for the second quarter 2020 above market expectations

Stuttgart (Germany) - Following a better than expected market recovery and a strong June performance, Daimler Group adjusted EBIT, Mercedes-Benz Cars & Vans adjusted EBIT and Daimler's Industrial Free Cash Flow for the second quarter of 2020 are all above market expectations.

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

- Industrial Free Cash Flow: €685 million (consensus: minus €2,106 million)

- Net Industrial Liquidity: €9.5 billion (Q1 2020: €9.3 billion)

- Daimler Group EBIT: minus €1,682 million (consensus: minus €2,069 million);
adjusted EBIT: minus €708 million (consensus: minus €1,719 million)

- Mercedes-Benz Cars & Vans EBIT: minus €1,125 million (consensus: minus €1,400 million); adjusted EBIT: minus €284 million (consensus: minus €1,050 million)

- Daimler Trucks & Buses EBIT: minus €756 million (consensus: minus €823 million);

adjusted EBIT: minus €747 million (consensus: minus €823 million)

- Daimler Mobility EBIT: €205 million (consensus: €258 million);

adjusted EBIT: €313 million (consensus: €258 million)

The preliminary results include the following adjustments affecting EBIT:

Mercedes-Benz Cars & Vans:

- Expenses of €687 million for initiated streamlining of global production network and capacity adjustments connected to our operations in Hambach, Tuscaloosa and Aguascalientes.

- Expenses of €53 million for legal proceedings and related measures

Daimler Mobility:

- Expenses of €105 million for adjustment of YOUR NOW Holding

Mercedes-Benz Cars & Vans, Daimler Trucks & Buses, Daimler Mobility, Reconciliation:

- Expenses of €129 million in total for ongoing efficiency programs.

Daimler's deployment of extensive cash preservation measures plus the favorable demand-driven development of working capital combined to deliver positive Industrial Free Cash Flow in the second quarter.

The full quarterly results will be published on July 23, 2020.

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

Contact:
Jörg Howe, +49 711 17 41341, [email protected]
Hendrik Sackmann, +49 711 17 35014, [email protected]

Matthias Krust, +49 160 8653505, [email protected]

Further information on Daimler is available at:
www.media.daimler.com and www.daimler.com

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, pandemics, 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 and tariff regulations; 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.