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Volvo Group Investor Day May 17 2018

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Volvo Group Investor Day May 17 2018 Volvo Group Investor Day May 17, 2018 AGENDA Growing demand for sustainable Martin Lundstedt, President and CEO transports and infrastructure Well invested with strong assets Martin Lundstedt, President and CEO to build on Improving financial performance Jan Gurander, Deputy CEO & CFO Improving operational performance Martin Lundstedt, President and CEO 10:00-10:30 COFFEE BREAK Building a strong Dennis Slagle, EVP Volvo Group and North American truck business President Mack Trucks Leveraging Financial Services Scott Rafkin, President Volvo Financial Services Lead in technology Lars Stenqvist, Chief Technology Officer Volvo Group Summary and Q&A 12:30-13:00 LUNCH Volvo Group Investor Day 2 May 17, 2018 Growing demand for sustainable transports and infrastructure Martin Lundstedt PRESIDENT AND CEO Volvo Group Investor Day 3 May 17, 2018 Growing demand for sustainable transports and infrastructure Rapid global Rapid population urbanization growth Growth in Middle class e-commerce growth Sources: Volvo Group Rapid global population growth: http://esa.un.org/unpd/wpp/Publications/Files/World_Population_2015_Wallchart.pdf Investor Day Rapid urbanization: UN Dept Economic & Social Affairs/Population Division, 2012 E-com: e-Marketer, from McKinsey reports “Parcel Industry Perspective” 2017, “International E-commerce Trends”, 2017 4 May 17, 2018 Middle class growth: WB MIC forum Efficiency and sustainability gap in emerging markets LOGISTICS COSTS AS PERCENTAGE OF GDP 25% 20% 20% 18% 15% 15% 13% 11% 10% 9% 9% 8% 7% 8% 6% 5% 0% Denmark Sweden Norway USA Australia Germany South India Brazil China Russia Africa Source: Logistics Barometer 2016 South Africa Volvo Group Investor Day 5 May 17, 2018 Large improvement potential in the logistics systems Used ~25% of the time over ~60% of total length theoretically 5-10% of total fuel consumed the life cycle available for more cargo is used to move goods ~7% of all accidents in Europe involve trucks: ~17% for fatal accidents Source: Mckinsey Volvo Group Investor Day 6 May 17, 2018 Volvo Group mission Driving prosperity through transport solutions Volvo Group Investor Day 7 May 17, 2018 Well invested with strong assets to build on THE JOURNEY Acquisition- Transformation Improving driven growth to close the gap performance Volvo Group Investor Day 8 May 17, 2018 Well invested with strong assets to build on TRUCK SALES NETWORK AND MARKET SHARES 2017 Sales and service points China North 615 America North America EU 28 13.2% South 208 15.6% 25.5% America Japan Europe 1452 India, MD 19.8% South Africa 57 South America 32.2% India 438 16.9% South Africa China 964 Australia 25.6% Japan 210 27.2% Australia 85 Volvo Group Investor Day 9 May 17, 2018 Well invested with strong assets to build on VOLVO CE SALES NETWORK AND MARKET SHARES 2017 NORTH AMERICA EUROPE Sales and service points CHINA 27% 60% North 5% 230 America 11% 28% SDLG Excavators 4% South 92 America 7% 16% 18% ASIA Europe 483 SOUTH AMERICA AFRICA & OCEANIA 46% Africa & 65% 122 Oceania 33% 6% 10% Asia 339 7% 6% 7% China 288 7% 7% Volvo Group Investor Day 10 May 17, 2018 Well invested with strong assets to build on ADDRESSING A BROAD SPECTRUM OF CUSTOMER SEGMENTS Volvo Group Well invested with strong assets to build on SEGMENT AND APPLICATION EXCELLENCE Admin Repair & Fuel maintenance DISTRIBUTION France MINING Indonesia CONSTRUCTION US LONG-HAULAGE Europe Vehicle Driver Volvo Group Investor Day 12 May 17, 2018 Well invested with strong World truck market 2017 units assets to build on POSITIONED TO CAPTURE OPPORTUNITIES IN CHINA, INDIA AND BEYOND China: Dongfeng Commercial Vehicles India: VE Commercial Vehicles Growing demand for Volvo Trucks along with e-commerce trend in China Volvo CE leveraging the Asia growth both through Volvo and SDLG brands Volvo Group Investor Day 13 May 17, 2018 Well invested with strong assets to build on OUR JV’S ARE GEARED FOR PROFITABLE GROWTH 2017 FY 2017 FY 2017 FY Position (China) No 4 Position (India) No 3 Position (WL China) No 2 Volume 172,100 units Volume 60,100 units Volume 26,000 units Sales SEK 49.6 bn Sales SEK 12.4 bn Sales SEK 10.5 bn Op. margin 3.4% Op. margin 6.0% Op. margin >10.0% Holding 45% Holding 45.6% Holding 70% Volvo Group Investor Day 14 May 17, 2018 Well invested with strong assets to build on LEVERAGING 15 YEARS OF CREATING A COMMON ARCHITECTURE AND SHARED TECHNOLOGY SYSTEM (CAST) Volvo Group Investor Day 15 May 17, 2018 Well invested with strong assets to build on KEY TAKE AWAYS Strong customer base and rolling fleet Well performing sales and service networks Well invested industrial backbone Fifteen years of investments into CAST Segment and application excellence Scale where it matters People/talent Volvo Group Investor Day 16 May 17, 2018 Improving financial performance Jan Gurander DEPUTY CEO AND CFO Volvo Group Investor Day 17 May 17, 2018 Improving financial performance TARGETING >10% OPERATING MARGIN OVER A BUSINESS CYCLE Adjusted operating margin, Adjusted return on capital, Volvo Group Industrial Operations % % 12 40 Adjusted Operating Margin, % 34.5% 10 Adjusted Operating Margin, 12MM, % 9.3% 30 8 6 20 4 10 2 0 0 Volvo Group Investor Day 18 May 17, 2018 Improving financial performance R&D AT ~5% TO SALES AND CAPEX DOWN TO DEPRECIATION Group R&D Group capital expenditures (PPE) SEK bn SEK bn 20 7% 9 160% 18 6% 8 140% 16 7 120% 14 5% 6 100% 12 4% 4.5% 5 10 80% 89% 8 3% 4 60% 6 2% 3 4 2 40% 1% 2 1 20% 0 0% 0 0% 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 R&D cash R&D cash/ Net sales PPE PPE/ depreciation Volvo Group Investor Day 19 May 17, 2018 Improving financial performance STRENGTHENED FINANCIAL POSITION – NET CASH OF SEK 27.5 BN (excl. pensions) Operating cash flow (12MM), Financial position, excl. pensions Industrial Operations Industrial Operations SEK bn SEK bn 28.3 30 27.5 30 25 20 20 10 15 0 10 2013 2014 2015 2016 2017 Q1-2018 -10 5 0 -20 13Q2 13Q3 13Q4 14Q1 14Q2 14Q3 14Q4 15Q1 15Q2 15Q3 15Q4 16Q1 16Q2 16Q3 16Q4 17Q1 17Q2 17Q3 17Q4 18Q1 -5 13Q1 -30 -10 Volvo Group Investor Day 20 May 17, 2018 Improving financial performance PROFITABILITY PER TRUCK BRAND AND REGION 2016 NORTH AFRICA & SOUTH EUROPE ASIA WORLD 2017 AMERICA OCEANIA AMERICA 61% 15% 13% 11% TRUCKS 100% NET 46% 24% 17% 7% 6% 100% SALES Good performance Medium performance Lower performance Volvo Group Investor Day 21 May 17, 2018 Improving financial performance PROFITABILITY IN VOLVO CE WELL BALANCED Net sales Operating income NORTH NORTH AMERICA AMERICA 18% 21% ASIA ASIA 38% 38% EUROPE EUROPE 35% 30% OTHER OTHER MARKETS MARKETS 9% 11% Volvo Group Investor Day 22 May 17, 2018 Improving financial performance WE CONTINUE TO REVIEW PERFORMANCE AND TAKE ACTION Develop Operating Review income High frequency follow-ups Business segments Exit Products and variants Markets In-house/source Services Examples Shares in Deutz divested Volvo CE dealer divestment in the UK Outsourced Japanese MD truck production Moved Eicher Pro 8000 production to VECV Volume 16 liter engine discontinued in North America Volvo Group Investor Day 23 May 17, 2018 Financial targets >10% Operating margin over a business cycle 12-15% RoE in Financial Services Net Industrial Operations, excluding pensions cash Volvo Group Investor Day 24 May 17, 2018 What we want to achieve IMPROVING PERFORMANCE AND INVESTING FOR THE FUTURE Gradual and Reduced Discipline Continuous consistent volatility in capital investments earnings in earnings and allocation/ in innovation and improvement cash flow investments new technologies Volvo Group Investor Day 25 May 17, 2018 Improving operational performance Martin Lundstedt PRESIDENT AND CEO Volvo Group Investor Day 26 May 17, 2018 Improving operational performance STRATEGIC PRIORITIES Reinforce Volvo as a global premium HD truck brand and regain position and 1 market shares of Renault Trucks, Mack and UD as regional high-end truck brands Capture Asia growth through JV’s and Group Trucks Asia in a separate value chain – 2 and leverage in other emerging markets Create the most desirable HD product and service portfolio tailored to selected 3 premium, high-end and value segments Secure robust profitability through leading R&D, quality, purchasing and manufacturing 4 operations using Volvo Production System Establish brand specific sales operations with focus on retail excellence and a 5 growing service business Leverage Group assets in our non-truck Business Areas, creating additional 6 profits, synergies and technology leadership Revitalize the Volvo Group culture with focus on Customer Success, Trust, Passion, 7 Change and Performance Volvo Group Investor Day 27 May 17, 2018 Reinforce Volvo as a global premium HD truck brand and 1 regain position and market shares of Renault Trucks, Mack and UD as regional high-end truck brands NORTH AMERICA New product line-up for Volvo and Mack Uptime excellence through connectivity Volvo VNL Good Financial Service operation Network expansion and investments Mack Anthem Volvo Group Investor Day 28 May 17, 2018 Reinforce Volvo as a global premium HD truck brand and 1 regain position and market shares of Renault Trucks, Mack and UD as regional high-end truck brands RENAULT TRUCKS New range with higher used truck values Improving network performance Critical mass in targeted markets Engagement for the brand Backbone with the Group Improving financial performance Volvo Group Investor Day 29 May 17, 2018 Reinforce Volvo as a global premium HD truck brand and 1 regain position and market shares of Renault Trucks, Mack and UD as regional high-end
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