Mercedes-Benz Team made public its 2021 monetary effects as of late, highlighting sped up transition in Electrical and Luxurious phase and gave some main points what it expects within the automobile semiconductor marketplace this 12 months.
Mercedes-Benz Team AG (ticker image: MBG) completed sturdy monetary effects for the fiscal 12 months 2021 ended December 31, whilst accelerating its technique as a pure-play producer of fascinating automobiles and trucks.
In 2021, excellent product combine, forged web pricing, endured cost-discipline and beneficial used vehicle efficiency lifted the adjusted Go back on Gross sales (RoS) for the Mercedes-Benz Vehicles & Trucks department to twelve.7% within the complete 12 months, even because the COVID-19 pandemic and semiconductor delivery chain bottlenecks endured to have an effect on the trade. Since 2019 mounted prices at Mercedes-Benz Vehicles have fallen by means of 16% whilst earnings according to unit advanced by means of 26% to a median €49,800 according to automobile.
Mercedes-Benz completed a number of technological milestones final 12 months: The corporate presented 4 battery electrical cars and attained the primary the world over legitimate machine acclaim for SAE-Degree 3 computerized riding. The EQS electrical flagship gained sturdy opinions and orders for the automobile are recently at round 20,000 of which 3,600 got here in January 2022. Mercedes-Benz is getting ready to roll out a raft of recent electrical cars this 12 months, together with the EQE and EQS SUV.
”2021 used to be a 12 months of strategic development for Mercedes-Benz. 3 numbers illustrate how this change is gaining traction: Most sensible-end automobile gross sales rose by means of 30%, gross sales of electrical automobiles surged 64%, and our adjusted EBIT greater by means of 105%. That’s a powerful demonstration of the potential for this emblem and this group.” mentioned Ola Källenius, Chairman of the Board of Control of Mercedes-Benz Team AG. “With a transparent schedule for this 12 months we’re assured about 2022. Except the relentless focal point on charge potency and provide chain control, our strategic priorities are: Scaling electrical cars, accelerating our car-software plans and rising our luxurious trade.”
On February 1, 2022 the former Daimler AG used to be renamed Mercedes-Benz Team AG and Daimler Mobility AG turned into Mercedes-Benz Mobility AG. The previous Daimler Vehicles & Buses department used to be indexed at the Frankfurt Inventory Change on December 10, 2021. Figures inside monetary statements have due to this fact been break up into endured and discontinued operations. In step with the newly shaped Team divisions, the reporting construction and the prior-year figures had been adjusted accordingly. All figures are initial and unaudited.
Within the fourth quarter, the corporate learned a one-time Team EBIT acquire of €9.2 billion from deconsolidation, because of the spin-off of the Daimler industrial automobile trade. This one-time EBIT impact has no have an effect on at the money go with the flow and no subject matter have an effect on on taxes. It’s the viewpoint of the control that it is a natural valuation impact and has due to this fact been excluded from the foundation for figuring out the dividend proposal.
Mercedes-Benz Team earnings reached €168 billion (2020: €154.3 billion). The proportion from proceeding operations used to be €133.9 billion (2020: €121.8 billion). Team EBIT used to be €29.1 billion (2020: €6.6 billion), thereof the percentage from proceeding operations used to be €16.0 billion (2020: €6.1 billion). Adjusted EBIT, reflecting the underlying trade, used to be €19.2 billion (2020: €8.6 billion). Team web benefit used to be €23.4 billion (2020: €4.0 billion). The proportion from proceeding operations used to be €11.1 billion (2020: €4.0 billion).
In 2021, web benefit aside from the deconsolidation consequence rose to €14.2 billion (2020: €4.0 billion). Income according to proportion, aside from the deconsolidation consequence, rose by means of 280% to €12.89 (2020: €3.39).
Mercedes-Benz expects that offer constraints associated with semiconductors will proceed to have an effect on the marketplace in 2022. Visibility on semiconductor delivery is bettering and capability is steadily expanding. Alternatively, there’s a prime stage of volatility and selective bottlenecks stay. Due to this fact, it’s recently now not imaginable to present a analysis about when the semiconductor delivery bottlenecks can be cleared. The corporate expects the location to stabilize in 2022 in comparison to final 12 months. In step with the Mercedes-Benz technique, planned prioritization of high-end and electrical cars continues.
Moreover, deep sourcing and interplay has been intensified with direct providers, in addition to with the semiconductor providers, so as to make the machine extra tough someday. At the side of providers, Mercedes-Benz is constantly operating to protected capability and broaden the generation to permit new chip generations. This comprises extra concrete agreements on delivery amounts, prolonged making plans cycles, in addition to the improvement of a security inventory at more than a few issues of the provision chain and more than one delivery resources.
Call for for Mercedes-Benz merchandise stays very sturdy. Alternatively, because of uncertainties surrounding delivery chain constraints, a wary method has been taken to forecasting gross sales. The corporate expects unit gross sales of Mercedes-Benz Vehicles to be quite above 2021. The gross sales combine is anticipated to stay beneficial, with top-end automobile gross sales expanding by means of greater than 10%. Internet pricing is expected to reinforce additional, however it’s going to now not entirely offset the uncooked subject matter headwinds which can be anticipated to extend in 2022 when put next with final 12 months.
Used vehicle effects are anticipated to normalise however stay on a excellent stage. Investments into assets, plant and kit in addition to analysis and building prices are anticipated to be quite above the prior 12 months, basically on account of investments into automobile platforms MMA and AMG.EA. The money conversion charge for Mercedes-Benz Vehicles can be within the hall of 0.8 and 1.0. Mercedes-Benz Vehicles expects an adjusted go back on gross sales of eleven.5% to 13% for the 12 months 2022.
Mercedes-Benz Trucks expects gross sales to be quite above final 12 months’s stage. Regardless of sturdy call for Mercedes-Benz Trucks has, in step with its automobiles department, once more selected a wary strategy to forecasting gross sales, given the supply-chain uncertainties confronted by means of the business. Investments into assets, plant and kit and analysis and building expenditures can be considerably above final 12 months, when expenditures have been slightly low.
A brand new fully-fledged electrical platform to hide all segments, VAN.EA, is being advanced to hit markets by means of the mid of this decade. On the similar time, present combustion platforms are being upgraded. The adjusted money conversion charge is anticipated to be 0.6 to 0.8. Mercedes-Benz Trucks anticipates an adjusted go back on gross sales of 8% to ten% for 2022.
For Mercedes-Benz Mobility the adjusted go back on fairness hall is anticipated to be 16% to 18%, which is considerably not up to in 2021. That is because of an anticipated normalisation of charge of credit score dangers and headwinds within the type of quite upper marketplace rates of interest in 2022. Moreover, final 12 months’s effects benefited from a good one-time impact from a prison case provision.