Vitesco Technologies : Half-yearly financial report 2022

HALF-YEAR FINANCIAL REPORT

JUNE 30, 2022

Vitesco Technologies Group	2

KEY FIGURES

January 1 through June 30

Second Quarter

€ million	2022

Sales

4,423.6

2021		2022	2021

4,396.9

2,165.0

2,094.9

EBITDA	342.7	344.0	170.2	173.0
As % of sales	7.7	7.8	7.9	8.3
EBIT	66.3	39.8	28.7	25.6
As % of sales	1.5	0.9	1.3	1.2
Adjusted sales1	4,423.6	4,374.0	2,165.0	2,079.5
Adjusted EBIT2	78.1	81.8	32.9	64.7
As % of adjusted sales	1.8	1.9	1.5	3.1
Free cash flow	49.8	304.8
Net debt	340.3	580.4
Gearing ratio as a %3	-10.8	-21.9
Equity	3,153.8	2,656.6
Equity ratio as a %	40.4	32.0
Number of employees (as at Jun. 30)4	37,664	39,611

1. Adjusted for changes in the scope of consolidation.
2. Adjusted for amortization of intangible assets from purchase-price allocation, changes in the scope of consolidation, and extraordinary items.
3. Defined as the ratio of net debt to equity.
4. Excluding apprentices/trainees.

Vitesco Technologies Group	4

VITESCO TECHNOLOGIES SHARE PRICE

Developments in Vitesco Technologies' development

Shares in Vitesco Technologies Group AG's shares got off to a good start to the 2022 market year after the release of positive order intake news about the number of orders being received. However, the mood in the markets grew dimmer after that due to expectations of inflation and Russia's invasion of Ukraine. Vitesco Technologies' shares were unable to escape this downward momentum and fell significantly, particularly in early March. While the Group's share price has recovered step by step, it only crossed the €40 threshold again and stayed there upon publication of the results for the first quarter and the further order intake success with order intake. A number of trading days in late June were weak for geopolitical and macroeconomic reasons, which led to shares closing at €36.90 at the end of the first six months of the year. Nevertheless, Vitesco Technologies' shares developed significantly better than the comparable SDAX and STOXX Europe 600 Automobiles & Parts indices during the same period.

Having closed at a price of €43.20 at year end 2021, their change was -14.6%. Vitesco Technologies' market capitalization was €1,476.8 million as at June 30, 2022. Market capitalization based on free float averaged €825.6 million over the last 20 trading days of the reporting period. The trading volume on XETRA to taled €603.6 million in the first half of 2022. An average of roughly 122,600 shares were traded on XETRA per trading day of trading in the first six months of 2022, equivalent to about 0.3% of the shares outstanding. Among the 70 SDAX stocks, Vitesco Tech nologies' was ranked 22nd by free-float market cap as at June 30, 2022.

Vitesco Technologies' free float remains unchanged when compared to the free float described in the annual report and is still at 49.0%.

Developments of the German stock market

The expectations of rising inflation resulted in a tense environment in German stock markets right from the beginning of 2022. Russia's invasion of Ukraine and the publication of economic data led to the mood dampening even further.

The SDAX, for instance, continued to lose value in the first three months of the year and was only able to stabilize in mid - March at about 15% below its 2021 closing price. Despite that, the pressure on the markets increased even further in early May due to economic and market data, resulting in the value of the SDAX shrinking by about one -fourth since year end 2021. The recovery that began after this was offset by a weak second half of June.

The SDAX was quoted at 11,881.19 points as at the end of June, down 27.6% from its closing price of 16,414.67 points at year end 2021.

Developments of the automotive sector

Unlike the SDAX, the STOXX Europe 600 Automobiles & Parts started positively into the year. The reasons for this included hopes of better semiconductor availability and global supply-chain recovery. However, rising inflation and Russia's invasion resulted in the STOXX Europe 600 Automobiles & Parts also experiencing losses during the first six months of the year passed. The weak second half of June then reversed the recovery that was being seen in May and the first half of June.

5	Vitesco Technologies Group

The STOXX Europe 600 Automobiles & Parts was quoted at 496.36 points as at the end of June, down 24.8% from its closing price of 659.72 points at the end of 2021.

Vitesco Technologies share price during the first half of 2022 relative to selected ind ices, with January 1, 2022, as start date

Credit rating

Vitesco Technologies Group AG has not held a credit rating and continues not to hold one.

Investor relations online

Further information about Vitesco Technologies' shares is available on the Internet at ir.vitesco-technologies.com.