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Intermediate Accounting
2
1 Introduction2 Equity Composition
3 Investments by Daimler
4 Taxes
Agenda
Daimler consists of five divisions
Note: 2014: Revenue Group € 129.872 Bn; Employees: 279,972, Corporate/Others 26,832
3
Revenues € 73.5 Bn € 32.3 Bn € 9.9 Bn € 4.2 Bn € 15,9 Bn
2014
Employees 129,106 82,743 15,782 16,6318,878
Intermediate Accounting
202.400
Daimler has close to 279,972 employees worldwideWith its 6,951*employees, ITM is also „truly global“
28,300
5,142
Asia
6,500
562
152Daimler ITM
NAFTA
Europe
Rest of Europe
35,000Germany 167,400
Latin America16,500
AfricaAustralia
/ Pacific
19,700
1.172 28
271,200
3,275Germany
Rest of Europe 738
Status as of: 31 December, 2014 * including IT Employees in subsidiary companies
Rest of Asia: 239
1040
China: 165India: 15MBRDI*: 458
Japan: 163
Subsidiarycompanies*:
1,129
Intermediate Accounting
Intermediate Accounting
Key balance sheet and financial figures
Daimler Group
Dec. 31, 2015 June 30, 2016
Equity ratio 23.6% 22.7%
Gross liquidity 18.2 22.9
Industrial business
Equity ratio 44.2% 41.2%
Net liquidity 18.6 17.4
in billions of euros
Key balance sheet figures
8
Daimler Group
Dec. 31, 2014
June 30, 2015
Industrial business
– in billions of euros –
Equity ratio 22.1%
16.3
23.9%
16.1Gross liquidity
Equity ratio 40.8%
17.0
45.3%
18.4Net liquidity
Key financials
9
– in billions of euros –
Q2 2014
Q2 2015Revenue 31.5 37.5
EBIT 3.1 3.7as reportedfrom ongoing business 2.5 3.8
Net profit 2.2 2.4Earnings per share (in euros) 1.97 2.12
Net liquidity industrial business (2014: year-end) 17.01.4
18.43.4Free cash flow industrial business (January-June)
Net industrial liquidity: development in H1 2015
12 /31 /2014
impact
dividend payments to minority shareholders)
6 /30/ 2015
– in billions of euros –
Free cash flow industrial business
H1 2015: €3.4bn
+4.8
-1.3
10
18.4
+0.617.
0
-0.1
-2.6
Net industrial
Earnings and Working capital
Pension/ Dividend payment
Other Net industrial
liquidity other cash flow
impact healthcare; M&A
Daimler AG (mainly FX effects and
liquidity
Ordinary Shares
• As of December 31, 2015, the members of the Board of Management held a total of 0.25 million shares or options on shares of Daimler AG (0.024% of the shares issued).
• On the same date, the members of the Supervisory Board held a total of 0.02 million shares or options on shares of Daimler AG (0.002% of the shares issued)
• The share capital (authorized capital) is divided into no-par-value shares. All shares are fully paid up.
• Each share represents a proportionate amount of approximately €2.87 of the share capital.
Ordinary Shares
• The Annual Shareholders’ Meeting held on April 9, 2014, authorized the Board of Management, with the consent of the Supervisory Board, to increase the share capital of Daimler AG in the period until April 8, 2019 by a total of €1.0 billion in one lump sum or by separate partial amounts at different times by issuing new, registered no-par-value shares in exchange for cash and/or non-cash contributions
Ordinary Shares Holders
• The Kuwait Investment Authority (KIA) currently owns 6.8% of the company’s stock, making it Daimler AG’s largest single shareholder.
• The Renault-Nissan Alliance continues to hold 3.1% of Daimler’s shares.
• BlackRock Inc., New York, still holds a stake above the 5% reporting limit as defined by Germany’s Securities Trading Act (WpHG). In December 2015, BlackRock notified us that its proportion of the voting rights was 6.12% on November 26.
• on October 26, 2015, the shares held by Norges Bank, Oslo, dropped below the reporting limit of 3%. As of that date, the bank held 2.99% of the voting rights in Daimler.
Dividends
• When the dividend pay-out of €2.45 per share is included, shareholders saw the value of their investment rise by 16%.
Equity Investment
• In 2015, their share of profit from equity-method investments decreased to €0.5 billion (2014: €0.9 billion).
• In 2014, Daimler lost its significant influence on Tesla, which was previously accounted for using the equity method; the subsequent re-measurement of their Tesla shares
• Profit from equity method investments decreased by 48% and is $464 million
• Cash used for investing activities amounted to €9.7 billion (2014: €2.7 billion).
• The change compared with the prior-year period resulted primarily from acquisitions and disposals of shares in companies.
Equity Investment
• The prior-year period included proceeds of €2.4 billion from the sale of RRPSH shares.
• Furthermore, the sale of shares in Tesla and the termination of the related share-price hedge led to a cash inflow of €0.6 billion.
Acquisitions and disposals of equity-method investments• Acquisitions in 2015 There Holding B. V. (THBV) was founded in
2015; Daimler, Audi and BMW each hold 33.3% of the shares of the company. Each of the shareholders provided a capital contribution of €668 million.
• The tax expense of €4.0 billion stated under income tax expense is €1.1 billion higher than in 2014, mainly due to the improved pretax income.
• The effective tax rate for 2015 was 31.6% (2014: 28.3%). • In 2014, a gain was recognized on the sale of the RRPSH shares that
was largely tax free.• But also expenses arose that Daimler AG are not tax deductible in
connection with the ongoing antitrust investigations of European manufacturers of commercial vehicles by the EU Commission.
• The income tax expense amounts to €0.9 billion (2014: €1.2 billion). • In 2015, the figure includes high tax benefits of €0.7 billion
connected with the tax assessment of previous years.