Tata Motors Limited · NSE:TMCV
Tata Motors — Q3 FY17 Earnings Presentation
25 slides from Tata Motors's earnings presentation, Feb 15, 2017
Slide 1: Jaguar Electrifies: Results for the Three Months Ended 31 December 2016
JAGUAR LAND ROVER Jaguar Electrifies JAGUAR LAND ROVER RESULTS FOR THE THREE MONTHS ENDED 31 DECEMBER 2016 14th FEBRUARY 2017
Slide 2: Disclaimer
DISCLAIMER JAGUAR LAND ROVER Statements in this presentation describing the objectives, projections, estimates and expectations of Jaguar Land Rover Automotive plc and its direct and indirect subsidiaries (the “Company”, “Group” or “JLR”) may be “forward-looking statements” within the meaning of app
Slide 3: Participants
PARTICIPANTS JAGUAR LAND ROVER Kenneth Gregor CFO, Jaguar Land Rover Bennett Birgbauer Treasurer, Jaguar Land Rover C. Ramakrishnan Group CFO, Tata Motors -3-
Slide 4: Q3 FY17 Financial Results
Q3 FY17 FINANCIAL RESULTS JAGUAR LAND ROVER • Retail sales of 149.3k units, 8.5% up on Q3 FY16 • Wholesale volumes 130.9k units, 4.9% lower — more than explained by the run-out of Discovery in advance of the all-new model going on sale in Q4 FY17 • Revenue of £6.5b, up from £5.8b with the weaker Pou
Slide 5: Key Financial Metrics
KEY FINANCIAL METRICS JAGUAR LAND ROVER Quarter ended 31 December 9 months ended 31 December (£ millions, unless stated) 2016 2015 Change 2016 2015 Change Retail volumes (‘000 units) 149.3 137.7 11.6 424.5 362.8 61.7 Wholesale volumes (‘000 units)1 130.9 137.6 (6.7) 375.9 359.4 16.5 Revenues 6,537 5
Slide 6: Record Q3 Retail Sales of 149.3k, Up 8%
RECORD Q3 RETAIL SALES OF 149.3k UP 8% CHINA, NORTH AMERICA AND EUROPE UP JAGUAR LAND ROVER Units in ‘000 North America UK China* Up 20% Down (3)% Up 38% 28.1 33.6 25.0 24.2 26.3 36.4 24.6 21.7 19.0 15.9 9.0 19.4 12.3 11.1 3.5 11.9 6.0 8.4 5.0 5.9 Q3 FY16 Q3 FY17 Q3 FY16 Q3 FY17 Q3 FY16 Q3 FY17 Euro
Slide 7: Q3 Wholesales of 130,910 Down 5%
Q3 WHOLESALES OF 130,910 DOWN 5% MORE THAN EXPLAINED BY DISCOVERY RUN-OUT JAGUAR LAND ROVER Units in ‘000 11.4 12.5 10.0 5.2 2.7 2.6 20.9 2.9 2.8 XE XF* XJ F-PACE F-TYPE 24.9 22.6 15.3 5.7 23.9 25.0 23.1 20.0 17.5 18.4 5.8 0.1 Discovery Sport* Discovery Range Rover Evoque* Range Rover Sport Range Ro
Slide 8: Key Profit Drivers
KEY PROFIT DRIVERS JAGUAR LAND ROVER • Revenue of £6.5b up from £5.8b in Q3 FY16, primarily reflecting the weaker Pound partially offset by lower wholesale volumes • EBITDA of £611m (9.3% margin) compared to £834m (14.4%) a year ago, primarily reflecting: • Lower wholesale volumes and less favourabl
Slide 9: Cash Flow: Positive Free Cash Flow After Investment
CASH FLOW POSITIVE FREE CASH FLOW AFTER INVESTMENT JAGUAR LAND ROVER Quarter ended 31 December 9 months ended 31 December (£ millions, unless stated) 2016 2015 Change 2016 2015 Change EBITDA 611 834 (223) 1,898 2,244 (346) Working capital (incl. non cash accruals)* 204 376 (172) (281) (584) 303 Tax
Slide 10: Exciting New Products
EXCITING NEW PRODUCTS RECENT & UPCOMING NEW MODELS TO DRIVE GROWTH JAGUAR LAND ROVER F-PACE (May 2016) Evoque convertible (Jun 2016) XFL (Sep 2016) All new Discovery (Q4 FY17) Watch this space! I-PACE concept (2018) -10 -
Slide 11: Jaguar I-PACE Concept: JLR's First Battery Electric Vehicle
JAGUAR I-PACE CONCEPT JLR’S FIRST BATTERY ELECTRIC VEHICLE JAGUAR LAND ROVER I-PACE concept • All-wheel-drive from twin electric motors • 500km range (NEDC cycle) • 0-60mph in 4 seconds • 90kWh lithium-ion battery • Rapid charging takes 2 hours • On the road in 2018
Slide 12: Looking Ahead: Continuing to Invest to Drive Profitable Growth
LOOKING AHEAD CONTINUING TO INVEST TO DRIVE PROFITABLE GROWTH JAGUAR LAND ROVER • JLR’s strategy continues to be to invest in new products, technology and manufacturing capacity to grow profitably. • Jaguar Land Rover plans to continue to build on recent successful product launches with the continue
Slide 13: Thank You
JAGUAR LAND ROVER Thank You Kenneth Gregor CFO, Jaguar Land Rover C. Ramakrishnan Group CFO, Tata Motors Bennett Birgbauer Treasurer, Jaguar Land Rover Jaguar Land Rover Investor Relations investor@jaguarlandrover.com Tata Motors Investor Relations Ir_tml@tatamotors.com Jaguar Land Rover Abbey Road,
Slide 14: Additional Slides
Jaguar Land Rover ADDITIONAL SLIDES
Slide 15: Income Statement
INCOME STATEMENT Jaguar Land Rover Quarter ended 31 December 9 months ended 31 December (£ millions, unless stated) 2016 2015 Change 2016 2015 Change Revenues 6,537 5,781 756 17,951 15,614 2,337 Material and other cost of sales (3,869) (3,496) (373) (10,623) (9,318) (1,305) Employee costs (648) (582
Slide 16: Record Q3 Retail Sales of 149.3k: Strong F-PACE, XF and Discovery Sport
Jaguar Land Rover RECORD Q3 RETAIL SALES OF 149.3k UP 8% STRONG F-PACE, XF AND DISCOVERY SPORT SALES Units in ‘000 11.4 10.9 6.8 9.7 3.0 3.0 19.3 2.6 2.4 XE XF* XJ F-PACE F-TYPE 26.6 30.8 13.8 8.0 28.4 27.7 22.4 22.7 16.6 14.7 6.0 0.1 Discovery Sport* Discovery Range Rover Evoque* Range Rover Sport
Slide 17: Record 9M Retail Sales of 424.5k, Up 17%
RECORD 9M RETAIL SALES OF 424.5k UP 17% LED BY F-PACE, XE, XF AND DISCOVERY SPORT Jaguar Land Rover Units in ‘000 23.6 31.3 23.2 25.6 8.8 8.4 46.0 8.7 7.7 0.2 0.0 XE XF* XJ F-PACE F-TYPE Discontinued (XK) 61.6 88.2 35.8 33.7 77.6 79.5 62.7 63.5 43.8 39.6 17.2 1.2 Discovery Sport* Discovery Range Rov
Slide 18: Record 9M Retail Sales: All Regions Up Except Overseas
RECORD 9M RETAIL SALES OF 424.5k UP 17% ALL REGIONS UP EXCEPT OVERSEAS Jaguar Land Rover Units in ‘000 North America UK China* Up 25% Up 14% Up 35% 88.4 71.9 82.1 91.6 70.8 59.5 53.0 56.1 67.7 19.4 46.9 59.7 37.7 29.2 11.1 28.9 19.0 26.0 10.7 15.5 9M FY16 9M FY17 9M FY16 9M FY17 9M FY16 9M FY17 Euro
Slide 19: Q3 Wholesales of 130,910: North America and China Up
JAGUAR LAND ROVER Q3 WHOLESALES OF 130,910 DOWN 5% NORTH AMERICA AND CHINA UP Units in ‘000 North America UK China* Up 23% Down (9)% Up 5% 37.6 26.0 15.3 16.1 30.5 23.7 21.8 10.0 18.3 17.0 10.1 26.1 15.8 7.7 6.7 5.2 6.1 4.4 Q3 FY16 Q3 FY17 Q3 FY16 Q3 FY17 Q3 FY16 Q3 FY17 Europe Overseas Down (14)% D
Slide 20: 9M Wholesales of 375.9k Up 5%
JAGUAR LAND ROVER 9M WHOLESALES OF 375.9k UP 5% STRONG SALES OF F-PACE, XE AND EVOQUE Units in ‘000 29.1 33.4 23.8 18.8 7.4 7.1 52.9 9.5 8.4 0.1 0.0 XE XF* XI F-PACE F-TYPE Discontinued (XK) 61.6 59.5 37.0 28.5 64.0 68.1 63.8 59.8 44.8 38.8 18.3 0.6 Discovery Sport* Discovery Range Rover Evooque* Ra
Slide 21: 9M Wholesales: North America, UK and Europe Up
9M WHOLESALES OF 375.9k UP 5% NORTH AMERICA, UK AND EUROPE UP Jaguar Land Rover Units in ‘000 North America UK China* Up 26% Up 1% Down (4)% 74.7 75.3 45.1 43.2 98.4 78.0 61.3 52.2 53.1 35.0 27.1 66.6 37.1 22.4 22.3 10.2 16.2 11.4 9M FY16 9M FY17 9M FY16 9M FY17 9M FY16 9M FY17 Europe Overseas Up 8%
Slide 22: Financing Structure: Strong Liquidity
FINANCING STRUCTURE STRONG LIQUIDITY JAGUAR LAND ROVER £ million (Face value) 7,000 6,000 5,000 4,000 3,000 2,000 1,000 - 16% 5,278 1,870 3,408 860 Q3 FY16 16% 5,710 1,870 3,840 1,119 Q3 FY17 1,870 807 570 407 407 400 CY17 CY18 CY19 CY20 CY21 CY22 CY23 CY24 Total Balance Sheet Debt as at 31 December
Slide 23: Product and Other Investment
PRODUCT AND OTHER INVESTMENT CAPITAL EXPENDITURE TO GROW THE BUSINESS JAGUAR LAND ROVER (£ millions, unless stated) R&D expense Capitalised Expensed Total R&D expense Investment in tangible and other intangible assets Total product and other investment Capital investment as % of revenue Of which cap
Slide 24: Foreign Exchange Impact on Profitability
FOREIGN EXCHANGE IMPACT ON PROFITABILITY JAGUAR LAND ROVER (£ millions, unless stated) Operational exchange1 Realized FX Hedges and other2 Revaluation of Current Assets/Liabilities3 Total FX impacting EBITDA Revaluation of Undesignated Debt3 Unrealised FX Hedges3 Total FX below EBITDA Total FX impac
Slide 25: Automotive plc Interim Report
JAGUAR LAND ROVER Jaguar Land Rover Automotive plc Interim Report For the three month and nine month period ended 31 December 2016 Company registered number: 06477691 Contents Management’s discussion and analysis of financial condition and results of operations Market environment Q3 FY17 key metrics