Vitesco Technologies Group AG

Investor Presentation • May 12, 2023

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
(% growth y/y)	-1.9%	3.3%	20.2%	15.1%	8.6%	2.5%
1 For comparison: Global Light Vehicle Production (mn units)	19.95	19.03	21.52	21.87	82.38	21.06
(% growth y/y)	-3.4%	1.5%	29.6%	3.3%	6.7%	5.7%
Division Powertrain Solutions	1,638.3	1,553.7	1,632.0	1,548.3	6,372.3	1,607.7
(% growth y/y)	-	-	-	-	-	-1.9%
Electrification**	21.2	20.5	23.0	28.0	92.7	22.2
(% growth y/y)	-	-	-	-	-	4.7%
Core ICE excl. Electrification**	846.2	817.2	851.1	821.1	3,335.6	872.4
(% growth y/y)	-	-	-	-	-	3.1%
Non-Core	770.9	716.0	757.9	699.2	2,944.0	713.1
(% growth y/y)	-	-	-	-	-	-7.5%
Division Electrification Solutions	634.3	626.1	687.1	818.3	2,765.8	716.8
(% growth y/y)	-	-	-	-	-	13.0%
Electrification**	230.5	216.3	224.5	309.2	980.5	283.7
(% growth y/y)	-	-	-	-	-	23.1%
Core ICE excl. Electrification**	403.8	409.8	462.6	509.1	1,785.3	433.1 7.3%
(% growth y/y)	-	-	-	-	-
Adjusted EBIT VT Group	47.7	34.9	47.6	97.4	223.2	37.1
(% of sales)	2.1%	1.6%	2.1%	4.2%	2.5%	1.6%
Adjusted EBIT Division Powertrain Solutions	111.3	104.7	76.8	55.4	344.1	117.3
(% of sales)	6.8%	6.7%	4.7%	3.6%	5.4%	7.3%
Adjusted EBIT Electrification**	-2.6	-3.8	-4.3	4.1	-6.6	-0.4
(% of sales)	-12.3%	-18.5%	-18.7%	14.6%	-7.1%	-1.8%
Adjusted EBIT Core ICE excl. Electrification** (% of sales)	104.1 12.3%	88.9 10.9%	98.6 11.6%	68.5 8.3%	356.6 10.7%	99.4 11.4%
Adjusted EBIT Non-Core	9.8	19.6	-17.5	-17.2	-5.9	18.3
(% of sales)	1.3%	2.7%	-2.3%	-2.5%	-0.2%	2.6%
Adjusted EBIT Division Electrification Solutions	-61.3	-60.5	-23.7	52.3	-93.5	-72.0
(% of sales)	-9.7%	-9.7%	-3.4%	6.4%	-3.4%	-10.0%
Adjusted EBIT Electrification**	-48.2	-49.9	-43.8	-12.5	-154.4	-51.0
(% of sales)	-20.9%	-23.1%	-19.5%	-4.0%	-15.7%	-18.0%
Adjusted EBIT Core ICE excl. Electrification**	-13.1	-10.6	20.1	64.8	60.9	-21.0
(% of sales)	-3.2%	-2.6%	4.3%	12.7%	3.4%	-4.8%
Research & Development Expenses (net)	179.4	188.5	171.7	120.8	660.4	193.4
(% of sales)	7.9%	8.7%	7.5%	5.1%	7.3%	8.4%
Depreciation & Amortization	134.9	141.5	143.0	140.6	560.0	147.7
(% of sales)	6.0%	6.5%	6.2%	6.0%	6.2%	6.4%
EBT	21.8	24.9	1.3	50.0	98.0	-29.3
(% of sales)	1.0% 151.8%	1.2% -47.4%	0.1% 1169.2%	2.1% 75.8%	1.1% 75.9%	-1.3% -73.0%
Effective Tax Rate
Net Result (% of sales)	-11.3 -0.5%	36.7 1.7%	-13.8 -0.6%	12.0 0.5%	23.6 0.3%	-50.7 -2.2%
Operating Cash Flow VT Group	108.2	105.2	80.5	298.2	592.1	76.9
(% of sales)	4.8%	4.9%	3.5%	12.7%	6.5%	3.3%
Capex VT Group (% of sales)	52.1 2.3%	112.5 5.2%	88.9 3.9%	193.1 8.2%	446.6 4.9%	98.0 4.2%
Free Cash Flow VT Group	48.2	1.6	-16.3	89.7	123.2	-41.1
(% of sales)	2.1%	0.1%	-0.7%	3.8%	1.4%	-1.8%
Balance Sheet Total	7,901.0	7,802.6	7,895.5	7,603.7	7,603.70	7,745.2
Equity Ratio	35.9%	40.4%	40.7%	40.3%	40.3%	39.1%
Working Capital	437.0	415.4	592.8	455.2	455.2	513.6
Working Capital/LTM Sales	5.3%	5.0%	6.8%	5.0%	5.0%	5.6%
Short- and Long-Term Financial Debt	483.3	469.8	480.4	447.7	447.7	451.3
Cash & Cash Equivalents	857.4	810.1	782.7	781.1	781.1	728.1
Net Financial Debt	-374.1	-340.3	-302.3	-333.4	-333.4	-276.8
Net Financial Debt/LTM adj. EBITDA	-0.5	-0.5	-0.4	-0.5	-0.5	-0.4

* Restatement of Q1 2022 and Q2 2022 (on a preliminary basis) 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 quaterly adj. EBIT figures ¹Based on IHS Markit, Light Vehicle Production Forecast as of 04/2023

Capex excluding right of use assets (IFRS 16)