Daimler Annual Report 2013

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Daimler Annual Report 2013 Annual Report 2013. Key Figures. Daimler Group 2013 2012 2011 13/12 Amounts in millions of euros % change Revenue 117,982 114,297 106,540 +3 1 Western Europe 41,123 39,377 39,387 +4 thereof Germany 20,227 19,722 19,753 +3 NAFTA 32,925 31,914 26,026 +3 thereof United States 28,597 27,233 22,222 +5 Asia 24,481 25,126 22,643 -3 thereof China 10,705 10,782 11,093 -1 Other markets 19,453 17,880 18,484 +9 Employees (December 31) 274,616 275,087 271,370 -0 Investment in property, plant and equipment 4,975 4,827 4,158 +3 Research and development expenditure 5,385 5,644 5,634 -5 thereof capitalized 1,284 1,465 1,460 -12 Free cash flow of the industrial business 4,842 1,452 989 +233 EBIT 2 10,815 8,820 8,755 +23 Value added 2 5,921 4,300 3,726 +38 Net profit 2 8,720 6,830 6,029 +28 Earnings per share (in €) 2 6.40 6.02 5.32 +6 Total dividend 2,407 2,349 2,346 +2 Dividend per share (in €) 2.25 2.20 2.20 +2 1 Adjusted for the effects of currency translation, increase in revenue of 7%. 2 For the year 2012, the figures have been adjusted, primarily for effects arising from application of the amended version of IAS 19. Cover photo: The new Mercedes-Benz S-Class. The S-Class is not only the technological spearhead of Mercedes-Benz, but also the pacemaker for automotive development in general. Comfort and safety merge into “INTELLIGENT DRIVE.” The top model from Mercedes-Benz offers a multitude of groundbreaking innovations that are now being gradually applied also in other Mercedes-Benz vehicles. Furthermore, with the launch of the new S-Class, we have compre- hensively optimized the production process at our plant in Sindelfingen. Daimler Divisions > This makes an important contribution to growth and efficiency. Daimler at a Glance > Divisions. 2013 2012 2011 13/12 Amounts in millions of euros % change Mercedes-Benz Cars EBIT 1 4,006 4,391 5,192 -9 Revenue 64,307 61,660 57,410 +4 Return on sales (in %) 1 6.2 7.1 9.0 . Investment in property, plant and equipment 3,710 3,495 2,724 +6 Research and development expenditure 3,751 3,863 3,733 -3 thereof capitalized 1,063 1,125 1,051 -6 Unit sales 1,565,563 1,451,569 1,381,416 +8 Employees (December 31) 96,895 98,020 99,091 -1 Daimler Trucks EBIT 1 1,637 1,695 1,876 -3 Revenue 31,473 31,389 28,751 +0 Return on sales (in %) 1 5.2 5.4 6.5 . Investment in property, plant and equipment 839 989 1,201 -15 Research and development expenditure 1,140 1,197 1,321 -5 thereof capitalized 79 180 251 -56 Unit sales 484,211 461,954 425,756 +5 Employees (December 31) 79,020 80,519 77,295 -2 Mercedes-Benz Vans EBIT 1 631 543 835 +16 Revenue 9,369 9,070 9,179 +3 Return on sales (in %) 1 6.7 6.0 9.1 . Investment in property, plant and equipment 288 223 109 +29 Research and development expenditure 321 371 358 -13 thereof capitalized 139 137 126 +1 Unit sales 270,144 252,418 264,193 +7 Employees (December 31) 14,838 14,916 14,889 -1 Daimler Buses EBIT 1 124 -221 162 . Revenue 4,105 3,929 4,418 +4 Return on sales (in %) 1 3.0 -5.6 3.7 . Investment in property, plant and equipment 76 82 103 -7 Research and development expenditure 181 222 225 -18 thereof capitalized 3 23 32 -87 Unit sales 33,705 32,088 39,741 +5 Employees (December 31) 16,603 16,901 17,495 -2 Daimler Financial Services EBIT 1 1,268 1,293 1,312 -2 Revenue 14,522 13,550 12,080 +7 New business 40,533 38,076 33,521 +6 Contract volume 83,539 79,986 71,730 +4 Investment in property, plant and equipment 19 23 21 -17 Employees (December 31) 8,107 7,779 7,065 +4 1 For the year 2012, the figures have been adjusted, primarily for effects arising from application of the amended version of IAS 19. Mercedes-Benz Cars Daimler Trucks Mercedes-Benz Vans Daimler Buses Daimler Financial Services We invented the automobile – and now we are passionately shaping its future. As automotive pioneers, we see it as both motivation and a duty to continue our tradition with groundbreaking technologies and superior products. We do our very best for customers who expect the best, and we live and breathe a culture of operational excellence based on shared values. Our corporate history features numerous innovations and pioneering achievements; they are the foundation for our claim to leadership in the automotive industry. At the same time, our thoughts and actions are guided by the principle of sustainable and safe mobility. With tailored products and services, we intend to enter new markets and attract additional groups of customers. Our goal is to lead our industry in terms of unit sales, revenue and profitability – and to do so in all the businesses in which we are active. In this way, we want to create lasting added value – for our shareholders, customers and employees, and for society in general. Dieter Zetsche Wolfgang Bernhard Christine Hohmann-Dennhardt Wilfried Porth Hubertus Troska Bodo Uebber Thomas Weber Efficient Operation - Profitable Growth. Daimler is growing faster, on a broader front and in more markets than ever before. This growth is based on extensive product offensives in all our divisions. We are expanding our product range, creating new segments and specifically addressing regionally different customer requirements. And in doing all of this, one thing is crucial: We don’t want to grow at any price, but with sustainable profitability. That’s why the efficiency programs in the divisions are an additional key element of our growth strategy. Find out more on pages 32 to 73 of this Annual Report. 2 Annual Report 2013 | Contents Contents. A To Our Shareholders (pages 4 – 31) D The Divisions (pages 148 – 169) 4 Important Events in 2013 150 Mercedes-Benz Cars 10 Chairman’s Letter 156 Daimler Trucks 12 The Board of Management 161 Mercedes-Benz Vans 14 Report of the Supervisory Board 164 Daimler Buses 20 The Supervisory Board 167 Daimler Financial Services 22 Daimler and the Capital Market 26 Objectives and Strategy E Corporate Governance (pages 170 – 183) 172 Report of the Audit Committee 175 Integrity and Compliance B Efficient Operation - Profitable Growth 177 Declaration of compliance with the German (pages 32 – 73) Corporate Governance Code 34 Attractive and Fascinating Products 178 Corporate Governance Report 40 Growth through Global Presence 46 Innovation and Technology Leadership 52 Tailored Financial Services F Consolidated Financial Statements (pages 184 – 273) 56 Pioneering Mobility Concepts 186 Consolidated Statement of Income 60 Increased Efficiency at All Divisions 187 Consolidated Statement of Comprehensive 64 Motivated and High-performing Employees Income/Loss 68 First-class Customer Care 188 Consolidated Statement of Financial Position 72 Integrity is the Basis for Our Success 189 Consolidated Statement of Cash Flows 190 Consolidated Statement of Changes in Equity 192 Notes to the Consolidated Financial Statements C Combined Management Report (pages 74 – 147) 76 Corporate Profile G Further Information (pages 274 – 284) 81 Economic Conditions and Business Development 276 Responsibility Statement 86 Profitability 277 Independent Auditors’ Report 92 Liquidity and Capital Resources 278 Ten Year Summary 99 Financial Position 280 Glossary 102 Daimler AG (condensed version according to HGB) 281 Index 105 Sustainability 282 List of Charts and Tables 117 Overall Assessment of the Economic Situation 284 International Representative Offices 118 Events after the End of the 2013 Financial Year Internet | Information | Addresses 119 Remuneration Report Daimler Worldwide 126 Information and Explanation Relevant to Financial Calendar 2014 Acquisitions 129 Risk and Opportunity Report 142 Outlook Information guidance system Refers to an illustration or a table in the Annual Report w Refers to additional information on the Internet E Cross-reference within the Annual Report K Refers to a Daimler publication 3 Important Events in 2013. The year 2013 was dominated by product offensives at all of our divisions. Our innovative vehicles, pioneering technologies and efficient production processes set new standards in automobile manufacturing and strengthened our position on international markets, thus laying the groundwork for further growth. 4 A | To Our Shareholders | Important Events in 2013 Product offensive in the luxury segment: Start of production of the new S-Class at the Mercedes-Benz plant in Sindelfingen. In 2013, Daimler invests around €1 billion in the facility. A pioneering feat on the road to autono mous driving. With its S 500 INTELLIGENT DRIVE research vehicle, Mercedes-Benz becomes the world’s first automaker to prove that autono- mous driving is also possible in cities and on highways and country roads. The first customized Mercedes-Benz Arocs rolls off the as- sembly line in Wörth. Daimler is the first automaker to offer a comprehensive port- folio of Euro VI-com- pliant vehicles in the heavy-duty class – six months before these emission stan- dards go into effect. 5 Q1.13 Mercedes-Benz makes the most beautiful cars. The readers of the automotive magazine “Auto Zeitung” vote for their favorite cars with the most exciting designs. The Mercedes-Benz A-Class wins in the com- pact segment, and the Mercedes-Benz CLS Shooting Brake not only takes first place in the wagon/sedan category but is also voted the most beautiful car of any segment.
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