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Daimler Annual Report 2014

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Annual Report 2014. Key Figures. Daimler Group 2014 2013 2012 14/13 Amounts in millions of euros % change Revenue 129,872 117,982 114,297 +10 1 Western Europe 43,722 41,123 39,377 +6 thereof Germany 20,449 20,227 19,722 +1 NAFTA 38,025 32,925 31,914 +15 thereof United States 33,310 28,597 27,233 +16 Asia 29,446 24,481 25,126 +20 thereof China 13,294 10,705 10,782 +24 Other markets 18,679 19,453 17,880 -4 Investment in property, plant and equipment 4,844 4,975 4,827 -3 Research and development expenditure 2 5,680 5,489 5,644 +3 thereof capitalized 1,148 1,284 1,465 -11 Free cash flow of the industrial business 5,479 4,842 1,452 +13 EBIT 3 10,752 10,815 8,820 -1 Value added 3 4,416 5,921 4,300 -25 Net profit 3 7,290 8,720 6,830 -16 Earnings per share (in €) 3 6.51 6.40 6.02 +2 Total dividend 2,621 2,407 2,349 +9 Dividend per share (in €) 2.45 2.25 2.20 +9 Employees (December 31) 279,972 274,616 275,087 +2 1 Adjusted for the effects of currency translation, revenue increased by 12%. 2 For the year 2013, the figures have been adjusted due to reclassifications within functional costs. 3 For the year 2012, the figures have been adjusted, primarily for effects arising from application of the amended version of IAS 19. Cover photo: Mercedes-Benz Future Truck 2025. The Future Truck 2025 provides a glimpse of the future of goods transport. It conserves resources, reduces emissions, maximizes traffic safety and increases connectivity in road traffic. This spectacular study from Mercedes-Benz is far more than a distant vision: It is planned to put the truck on the road within ten years. Many of its technological componen ts are already available and ready for use. The brain of the Future Truck 2025 is the “Highway Pilot,” whose fasci- nating capabilities were demonstrated in autonomous driving on the autobahn in July 2014. The complete design and technology study had its world premiere at Daimler’s Divisions > the IAA Commercial Vehicles Show in 2014. Facts and Figures 2014 > Divisions. 2014 2013 2012 14/13 Amounts in millions of euros % change Mercedes-Benz Cars EBIT 1 5,853 4,006 4,391 +46 Revenue 73,584 64,307 61,660 +14 Return on sales (in %) 1 8.0 6.2 7.1 . Investment in property, plant and equipment 3,621 3,710 3,495 -2 Research and development expenditure 2 4,025 3,808 3,863 +6 thereof capitalized 1,035 1,063 1,125 -3 Unit sales 1,722,561 1,565,563 1,451,569 +10 Employees (December 31) 3 129,106 96,895 98,020 +33 Daimler Trucks EBIT 1 1,878 1,637 1,695 +15 Revenue 32,389 31,473 31,389 +3 Return on sales (in %) 1 5.8 5.2 5.4 . Investment in property, plant and equipment 788 839 989 -6 Research and development expenditure 2 1,188 1,171 1,197 +1 thereof capitalized 34 79 180 -57 Unit sales 495,668 484,211 461,954 +2 Employees (December 31) 3 82,743 79,020 80,519 +5 Mercedes-Benz Vans EBIT 1 682 631 543 +8 Revenue 9,968 9,369 9,070 +6 Return on sales (in %) 1 6.8 6.7 6.0 . Investment in property, plant and equipment 304 288 223 +6 Research and development expenditure 2 293 329 371 -11 thereof capitalized 68 139 137 -51 Unit sales 294,594 270,144 252,418 +9 Employees (December 31) 3 15,782 14,838 14,916 +6 Daimler Buses EBIT 1 197 124 -221 +59 Revenue 4,218 4,105 3,929 +3 Return on sales (in %) 1 4.7 3.0 -5.6 . Investment in property, plant and equipment 105 76 82 +38 Research and development expenditure 2 182 187 222 -3 thereof capitalized 11 3 23 +267 Unit sales 33,162 33,705 32,088 -2 Employees (December 31) 16,631 16,603 16,901 +0 Daimler Financial Services EBIT 1 1,387 1,268 1,293 +9 Revenue 15,991 14,522 13,550 +10 New business 47,912 40,533 38,076 +18 Contract volume 98,967 83,539 79,986 +18 Investment in property, plant and equipment 23 19 23 +21 Employees (December 31) 8,878 8,107 7,779 +10 1 For the year 2012, the figures have been adjusted, primarily for effects arising from application of the amended version of IAS 19. 2 For the year 2013, the figures have been adjusted due to reclassifications within functional costs. 3 As of 2014, including the numbers of employees previously counted under “Sales & Marketing Organization.” E see page 111 Daimler Worldwide. Sales Organization Daimler Mercedes-Benz Daimler Mercedes-Benz Daimler Automotive Financial Cars Trucks Vans Buses Businesses Services Europe Production locations 11 7 3 7 – – Sales outlets – – – – 4,039 30 Revenue (in millions of euros) 30,595 9,962 7,817 2,690 – 6,488 Employees 111,633 34,830 13,868 14,802 – 5,095 NAFTA Production locations 1 14 1 1 – – Sales outlets – – – – 1,502 4 Revenue (in millions of euros) 16,955 12,159 1,029 292 – 7,963 Employees 7,268 21,357 190 450 – 1,646 Latin America (excluding Mexico) Production locations 1 2 1 2 – – Sales outlets – – – – 639 2 Revenue (in millions of euros) 729 2,630 499 980 – 323 Employees 136 11,376 1,674 1,289 – 427 Africa Production locations 1 1 – 1 – – Sales outlets – – – – 384 1 Revenue (in millions of euros) 1,417 1,092 131 88 – 226 Employees 5,435 1,158 17 – – 268 Asia Production locations 2 3 – 2 – – Sales outlets – – – – 2,162 9 Revenue (in millions of euros) 22,385 5,901 302 125 – 754 Employees 3,901 13,693 – 90 – 1,248 Australia/Oceania Production locations – – – – – – Sales outlets – – – – 260 2 Revenue (in millions of euros) 1,534 636 190 41 – 237 Employees 733 329 33 – – 194 Notes: Unconsolidated revenue of each division (segment revenue). The employees previously reported under “Sales & Marketing Organization” are included in the employee numbers for the respective divisions as of 2014. Mercedes-Benz Cars Daimler Trucks Mercedes-Benz Vans Daimler Buses Daimler Financial Services Contents. Clean. Safe. Connected. 1 C | The Divisions 152 Mercedes-Benz Cars 154 Clean. 3 Daimler Trucks 160 Safe. 13 Mercedes-Benz Vans 165 Daimler Buses 168 Connected. 25 Daimler Financial Services 171 The Future Has Begun. 36 D | Corporate Governance 174 Report of the Audit Committee 176 Chairman’s Letter 38 Integrity and Compliance 179 Declaration of compliance with the German A | To Our Shareholders 43 Corporate Governance Code 181 The Board of Management 44 Corporate Governance Report 182 Report of the Supervisory Board 46 The Supervisory Board 52 Highlights of 2014 54 E | Consolidated Financial Statements 190 Daimler and the Capital Market 60 Consolidated Statement of Income 192 Objectives and Strategy 64 Consolidated Statement of Comprehensive Income/Loss 193 Consolidated Statement of Financial Position 194 B | Combined Management Report 70 Consolidated Statement of Cash Flows 195 Corporate Profile 72 Consolidated Statement of Changes in Equity 196 Economic Conditions and Business Development 77 Notes to the Consolidated Financial Statements 198 Profitability 82 Liquidity and Capital Resources 88 Financial Position 95 F | Further Information 282 Daimler AG Responsibility Statement 284 (condensed version according to HGB) 98 Independent Auditors’ Report 285 Sustainability 101 Ten Year Summary 286 Overall Assesssment of the Economic Situation 116 Glossary 288 Events after the Reporting Period 117 Index 289 Remuneration Report 118 List of Charts and Tables 290 Takeover-Relevant Information and Explanation 129 International Representative Offices 292 Risk and Opportunity Report 132 Outlook 146 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 Clean. Safe. Connected. Clean. Safe. Connected. That’s the future of the automobile – and that’s what we stand for at Daimler. As a pioneer of automotive engineering, we are continually working to shape the future of mobility. Our thoughts and actions are guided by the principle of sustainability. We have already reached many milestones on the road to emission- free and accident-free driving. Intelligent connectivity offers us additional and completely new opportunities to shape the mobility of tomorrow. We plan to use these new technologies to keep our loyal customers satisfied, gain new markets and customers, continue along our path of profitable growth and create sustained value. 2 Daimler | Clean. Safe. Connected. Clean. Clean mobility. Daimler is on the “road to emission-free driving.” To this end, we have created an environmental road- map that focuses on further efficiency enhancements to combustion engines, needs-based hybridization and locally emission-free electric vehicles with batteries or fuel cells. 3 Daimler | Clean. Safe. Connected. First plug-in hybrid with the three-pointed star: the S 500 PLUG-IN HYBRID1. A pioneer for efficiency. Exemplary efficiency = superior performance. Daimler offers proof of this equation with the S 500 PLUG-IN HYBRID1, a model that once again underscores the Group’s leading role in the electrification of premium vehicles. The new luxury sedan from Mercedes-Benz makes a big impression not only with its state-of-the-art hybrid concept but also with the innovations and exclusive appointment details of the S-Class. The centerpiece of the model’s plug-in technology is a new high-voltage lithium-ion battery that can be charged externally — using a household power socket, for example.
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