Vitesco Technologies Group AG — Financial Supplement Data 2024

Mar 14, 2024

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	2,258.6	2,165.0	2,300.1	2,346.3	9,070.0	2,314.2	2,441.6	2,199.4	2,278.0	9,233.2
(% growth y/y)	-1.6%	3.3%	20.2%	15.1%	8.6%	2.5%	12.6%	-4.4%	-2.6%	1.8%
For comparison: Global Light Vehicle Production¹ (mn units)	19.93	19.00	21.50	21.90	82.34	21.37	22.19	22.80	23.90	90.07
(% growth y/y)	-3.5%	1.4%	28.5%	3.4%	6.7%	7.2%	16.6%	6.1%	8.1%	8.4%
Division Powertrain Solutions	1,638.3	1,553.7	1,632.0	1,548.3	6,372.3	1,607.7	1,602.5	1,412.4	1,486.2	6,118.8
(% growth y/y)						-1.8%	2.1%	-13.5%	-5.3%	-4.0%
Electrification**	21.2	20.5	23.0	28.0	92.7	22.2	28.5	30.9	31.1	112.7
(% growth y/y)						4.7%	39.0%	34.3%	11.1%	21.6%
Core ICE excl. Electrification**	846.2	817.2	851.1	821.1	3,335.6	872.4	925.7	798.8	821.3	3,418.2
(% growth y/y)						3.1%	13.3%	-6.1%	0.0%	2.5%
Non-Core	770.9	716.0	757.9	699.2	2,944.0	713.1	678.3	582.7	613.8	2,587.9
(% growth y/y)						-7.5%	-3.3%	-23.1%	-12.2%	-12.1%
Division Electrification Solutions	634.3	626.1	687.1	818.3	2,765.8	716.8	825.2	799.7	820.6	3,162.3
(% growth y/y)						13.0%	31.8%	16.4%	0.3%	14.3%
Electrification**	230.5	216.3	224.5	318.0	989.3	283.7	325.8	293.0	297.7	1,200.7
(% growth y/y)						23.1%	33.6%	30.7%	-8.4%	21.6%
Core ICE excl. Electrification**	403.8	409.8	462.6	500.3	1,776.5	433.1	499.4	506.2	522.9	1,961.6
(% growth y/y)						7.3%	21.8%	8.4%	4.5%	10.4%
Adjusted EBIT VT Group	47.7	34.9	44.7	98.2	225.5	37.1	76.3	76.4	151.3	341.1
(% of sales)	2.1%	1.6%	2.0%	4.2%	2.6%	1.6%	3.1%	3.5%	6.6%	3.7%
Adjusted EBIT Division Powertrain Solutions	111.3	104.7	73.9	55.4	345.3	117.3	109.2	98.1	140.0	464.6
(% of sales)	6.8%	6.7%	4.6%	3.6%	6.4%	7.3%	6.7%	6.8%	9.5%	7.6%
Adjusted EBIT Electrification**	-2.6	-3.8	-4.3	4.1	-6.6	-0.4	0.0	0.2	7.2	7.0
(% of sales)	-12.3%	-18.5%	-18.7%	14.6%	-7.1%	-1.8%	0.0%	0.6%	23.2%	6.2%
Adjusted EBIT Core ICE excl. Electrification**	104.1	88.9	95.5	68.2	356.7	99.4	102.8	99.9	90.4	392.5
(% of sales)	12.3%	10.8%	11.2%	8.3%	10.7%	11.4%	11.1%	12.5%	11.0%	11.5%
Adjusted EBIT Non-Core	9.8	19.6	-17.3	-16.9	-4.8	18.3	6.4	-2.0	42.4	65.1
(% of sales)	1.3%	2.7%	-2.3%	-2.4%	-0.2%	2.6%	0.8%	-0.3%	6.9%	2.5%
Adjusted EBIT Division Electrification Solutions	-61.3	-60.5	-23.6	52.3	-93.1	-72.0	-31.2	-14.3	19.4	-98.1
(% of sales)	-8.7%	-8.7%	-8.4%	6.4%	-3.4%	-10.0%	-3.6%	-1.8%	2.4%	-3.1%
Adjusted EBIT Electrification**	-48.2	-48.9	-43.8	-12.5	-154.4	-51.0	-52.8	-43.2	-6.5	-153.8
(% of sales)	-20.8%	-20.1%	-18.5%	-3.9%	-15.6%	-18.0%	-16.2%	-14.8%	-2.3%	-12.8%
Adjusted EBIT Core ICE excl. Electrification**	-13.1	-10.6	20.2	64.8	61.3	-21.0	21.6	29.0	26.2	55.8
(% of sales)	-3.2%	-2.6%	4.4%	13.0%	3.5%	-4.8%	4.3%	5.7%	5.0%	2.8%
Research & Development Expenses (net)	179.4	188.5	171.7	120.8	660.4	193.4	198.9	158.2	129.1	679.6
(% of sales)	7.8%	8.7%	7.5%	5.1%	7.3%	8.4%	8.1%	7.2%	3.7%	7.4%
Depreciation & Amortization	134.9	141.5	143.0	140.6	560.0	147.7	167.1	128.7	132.4	575.9
(% of sales)	6.0%	6.5%	6.2%	6.0%	6.2%	8.4%	8.8%	5.9%	5.8%	6.2%
EBT	21.8	24.9	1.3	50.0	98.0	-29.3	12.0	60.5	102.5	145.7
(% of sales)	1.0%	1.2%	0.1%	2.1%	1.1%	-1.3%	0.5%	2.8%	4.5%	1.6%
Effective Tax Rate	151.8%	-47.4%	1,188.2%	75.8%	75.8%	-73.0%	215.8%	48.6%	160.9%	166.2%
Net Result	-11.3	36.7	-13.8	12.0	23.6	-50.7	-13.8	30.2	-62.2	-96.4
(% of sales)	-0.5%	1.7%	-0.6%	0.5%	0.3%	-2.2%	-0.6%	1.4%	-2.7%	-1.0%
Operating Cash Flow VT Group	108.2	105.2	80.5	298.2	592.1	76.9	94.8	203.4	253.9	629.0
(% of sales)	4.8%	4.9%	3.5%	12.7%	6.5%	3.3%	3.9%	8.2%	11.1%	6.8%
Capex VT Group	52.1	112.5	88.9	193.1	446.6	98.0	92.8	141.8	167.2	499.8
(% of sales)	2.3%	3.2%	3.9%	9.2%	4.9%	4.2%	3.8%	6.4%	7.3%	5.4%
Free Cash Flow VT Group	48.2	1.6	-16.3	89.7	123.2	-41.1	-20.6	73.4	73.2	84.9
(% of sales)	2.1%	0.1%	-0.7%	3.8%	1.4%	-1.8%	-0.8%	3.3%	3.2%	0.9%
Balance Sheet Total	7,901.0	7,802.6	7,895.5	7,603.7	7,603.7	7,745.2	7,588.5	7,505.0	7,583.1	7,583.1
Equity Ratio	35.9%	40.4%	40.7%	40.3%	40.3%	39.1%	38.9%	40.6%	37.6%	37.6%
Working Capital	437.0	410.4	592.8	455.2	455.2	513.6	502.0	529.0	532.5	532.5
Working Capital/LTM Sales	5.3%	5.0%	6.8%	5.0%	5.0%	5.6%	5.9%	5.7%	5.8%	5.8%
Short- and Long-Term Financial Debt	483.3	469.8	480.4	447.7	447.7	451.3	459.3	469.7	726.6	726.6
Cash & Cash Equivalents	857.4	810.1	782.7	781.1	781.1	728.1	672.1	739.2	1,063.6	1,063.6
Net Financial Debt	-374.1	-340.3	-302.3	-333.4	-333.4	-276.8	-212.8	-269.5	-337.0	-337.0
Net Financial Debt/LTM adj. EBITDA	-0.5	-0.5	-0.4	-0.5	-0.5	-0.4	-0.3	-0.3	-0.4	-0.4

Rounding differences may occur for arithmetical reasons
* Restatement of 2022 figures due to consolidation changes
** Reclassification
Based on S&P Global Mobility, Light Vehicle Production Forecast as of 01/2024
Capex excluding right of use assets (IFRS 16)