Vitesco Technologies Group AG — Financial Supplement Data 2023

Aug 10, 2023

VITESCO

TECHNOLOGIES

in € mn	Q1 2022*	Q2 2022*	Q3 2022	Q4 2022	FY 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	FY 2023
Sales VT Group(%) growth y/y)	2,258.6-1.8%	2,165.0-3.3%	2,300.1-20.2%	2,346.3-15.1%	9,070.0-8.6%	2,314.2-2.5%	2,441.6-12.6%
For comparison: Global Light Vehicle Production¹ (mn units)(%) growth y/y)	19.93-3.5%	19.00-1.5%	21.51-28.5%	21.90-3.4%	82.4-8.7%	21.34-7.1%	21.86-18.5%
Division Powertrain Solutions(%) growth y/y)	1,638.3-2.1%	1,553.7-1.5%	1,632.0-28.5%	1,548.3-3.4%	6,372.3-8.7%	1,607.7-1.8%	1,632.5-5.1%
Electrification** (%) growth y/y)	21.2	20.5	23.0	28.0	92.7	22.2	28.5
Core ICE excl. Electrification** (%) growth y/y)	846.2	817.2	851.1	821.1	3,335.6	872.4	925.7
Non-Core(%) growth y/y)						2.1%	13.5%
Division Electrification Solutions(%) growth y/y)	634.3	626.1	687.1	818.3	2,765.8	716.8	825.2
Electrification** (%) growth y/y)	230.5	216.3	224.5	309.2	980.5	283.7	325.8
Core ICE excl. Electrification** (%) growth y/y)	403.8	409.8	462.6	509.1	1,785.3	433.1	499.4
Adjusted EBIT VT Group(%) of sales)	47.7-2.1%	34.9-1.8%	47.6-2.1%	97.4-2.2%	223.2-7.5%	37.1-1.6%	76.3-2.1%
Adjusted EBIT Division Powertrain Solutions(%) of sales)	111.3-6.6%	104.7-8.7%	78.8-4.7%	55.4-3.6%	344.1-5.4%	117.3-7.3%	109.2-8.7%
Adjusted EBIT Electrification** (%) of sales)	-2.6-12.3%	-3.8-18.5%	-4.3-18.7%	4.1-14.6%	-6.6-7.1%	-0.0-1.8%	0.0-20%
Adjusted EBIT Core ICE excl. Electrification** (%) of sales)	104.1-12.3%	88.9-10.8%	98.6-11.6%	68.5-8.3%	356.6-10.7%	99.4-11.4%	102.8-11.1%
Adjusted EBIT Non-Core(%) of sales)	9.8-1.5%	19.6-2.7%	-17.5-2.3%	-17.2-2.5%	-5.9-0.2%	18.3-2.6%	6.4-2.8%
Adjusted EBIT Division Electrification Solutions(%) of sales)	-61.3-8.7%	-60.5-8.7%	-23.7-3.4%	52.3-6.4%	-93.5-3.4%	-72.0-10.0%	-31.2-3.8%
Adjusted EBIT Electrification** (%) of sales)	-48.2-25.6%	-49.9-23.1%	-43.8-19.5%	-12.5-4.0%	-154.4-15.7%	-51.0-18.0%	-52.8-18.2%
Adjusted EBIT Core ICE excl. Electrification** (%) of sales)	-13.1-3.2%	-10.6-2.6%	20.1-4.2%	64.8-12.7%	60.9-3.4%	-21.0-4.8%	21.6-4.3%
Research & Development Expenses (net)(%) of sales)	179.4-7.8%	188.5-8.7%	171.7-7.5%	120.8-5.1%	660.4-7.3%	193.4-8.4%	198.9-8.1%
Depreciation & Amortization(%) of sales)	134.9-6.0%	141.5-6.5%	143.0-6.2%	140.6-6.0%	560.0-6.2%	147.7-6.4%	167.1-8.8%
EBIT(%) of sales)	21.8-1.0%	24.9-1.2%	1.3-0.1%	50.0-2.1%	98.0-1.3%	-29.3-1.3%	12.0-2.5%
Effective Tax Rate(%) of sales)	131.6% -0.5%	-47.4% 1.7%	1169.2% -0.6%	75.8% 0.5%	75.8% -0.3%	-73.0% -2.2%	213.8% -0.6%
Net Result(%) of sales)	-11.3-4.8%	36.7-4.8%	-13.8-2.5%	12.0-12.7%	23.8-3.3%	-50.7-4.2%	-13.8-3.8%
Operating Cash Flow VT Group(%) of sales)	108.2 4.8%	105.2 4.8%	80.5 2.5%	298.2 12.7%	592.1 8.5%	76.9 3.3%	94.8 3.8%
Capex VT Group(%) of sales)	52.1 2.3%	112.5 5.2%	88.9 2.9%	193.1 8.2%	446.6 4.9%	98.0 4.2%	92.8 3.8%
Free Cash Flow VT Group(%) of sales)	48.2 2.1%	1.6 0.1%	-16.3 -0.7%	89.7 2.8%	123.2 1.4%	-41.1 -1.8%	-20.6 -3.8%
Balance Sheet Total	7,901.0	7,802.6	7,895.5	7,603.7	7,603.70	7,745.2	7,588.5
Equity Ratio	35.9%	40.4%	40.7%	40.3%	40.3%	39.1%	38.9%
Working Capital	437.0	415.4	592.8	455.2	455.2	513.6	552.0
Working Capital/LTM Sales	5.3%	5.0%	6.8%	5.0%	5.0%	5.6%	5.9%
Short- and Long-Term Financial Debt	483.3	469.8	480.4	447.7	447.7	451.3	459.3
Cash & Cash Equivalents	857.4	810.1	782.7	791.1	781.1	728.1	672.1
Net Financial Debt	-374.1	-340.3	-302.3	-333.4	-333.4	-276.8	-212.8
Net Financial Debt/LTM adj. EBITDA	-0.5	-0.5	-0.4	-0.5	-0.5	-0.4	-0.3

• Restatement of Q1 2022 and Q2 2022 figures due to consolidation changes
  ** Reclassification
  Important note: Since restatements for Q3 and Q4 are still due, the full year adj. EBIT figures (for FY2022) at group and (sub)divisional levels differ slightly from the accumulated quarterly adj. EBIT figures
  ¹ Based on S&P Global Mobility, Light Vehicle Production Forecast as of 07/2023
  Capex excluding right of use assets (IFRS 18)