Bridgestone Corporation · TSE:5108

Bridgestone — Q1 2023 Earnings Presentation

15 slides from Bridgestone's earnings presentation, May 15, 2023

  1. Slide 1: Financial Results for 1st Quarter of Fiscal 2023

    Financial Results for 1st Quarter of Fiscal 2023 Bridgestone Corporation May 15, 2023 Global CFO and Executive Director, G Finance Naoki Hishinuma

  2. Slide 2: Agenda

    1. Business and Financial Performance ... 3 for 1st Quarter of Fiscal 2023 2. Fiscal 2023 Guidance ... 13 2/14

  3. Slide 3: 1. Business and Financial Performance

    1. Business and Financial Performance for 1st Quarter of Fiscal 2023 3/14

  4. Slide 4: Consolidated Results for 1st Quarter of Fiscal 2023

    Consolidated Results for 1st Quarter of Fiscal 2023 (Yen in billions) 2022 1Q Results 2023 1Q Results vs PY (%) Revenue 891.0 1,043.5 +17 Adjusted Operating Profit 101.1 116.8 +16 Margin 11.3% 11.2% (0.2) pp Profit Attributable to Owners of Parent 53.8 90.5 + 68 - Continuing Operations 65.4 90.7 +39

  5. Slide 5: Overview of the Performance

    Overview of the Performance for 1st Quarter of Fiscal 2023 Business and Financial Highlights ⚫ Amid tire demand for REP market is showing prominent decline vs. PY due to economic slowdown mainly in the U.S. and Europe, the Company is not changing the approach to ensure Strategic Price Management and

  6. Slide 6: Business Environment Surrounding Bridgestone Group

    Business Environment Surrounding Bridgestone Group for 1st Quarter of Fiscal 2023 Currency ⚫ JPY depreciated against both USD and EUR compared with PY Exchange 1USD=132 yen, 1EUR=142 yen (Reference) 1Q’22 1USD=116 yen, 1EUR=130 yen ⚫ Raw materials: In total, the purchase costs of raw materials incre

  7. Slide 7: Tire Sales Units Growth (vs. PY)

    Tire Sales Units Growth for 1st Quarter of Fiscal 2023 (vs. PY) PSR/LTR TBR ORR vs. PY vs. PY vs. PY Global 91% Global 87% Ultra-Large 105% OE OE (REP) Global 102% Global 100% Large 110% Japan 112% Japan 102% OE 116% N. America 102% N. America 93% REP 106% Europe 115% Europe 120% Small & Medium 96%

  8. Slide 8: Analysis of Adjusted Operating Profit (vs. PY)

    Analysis of Adjusted Operating Profit for 1st Quarter of Fiscal 2023 (vs. PY) (Yen in billions) (*2) Price (*1) Mix Volume Conversion +4.0 (12.0) Costs LA Currency +90.0 (*3) Currency Depreciation (24.0) Operating Others(*4) Expenses +29.0 (8.0) (11.3) Raw (13.0) 116.8 Materials 101.1 (39.0) *4 UPI

  9. Slide 9: Consolidated Financial Results by Segment

    Consolidated Financial Results by Segment for 1st Quarter of Fiscal 2023 (Yen in billions) 2022 1Q Results 2023 1Q Results vs. PY (%) Revenue 265.6 300.0 +13 Japan* Adjusted OP 30.1 41.5 +38 Margin 11.3% 13.8% +2.5 pp Revenue 390.5 494.9 +27 Americas Adjusted OP 43.4 54.5 +25 Margin 11.1% 11.0% (0.1

  10. Slide 10: Consolidated Financial Results by Product

    Consolidated Financial Results by Product for 1st Quarter of Fiscal 2023 (Yen in billions) 2022 1Q Results 2023 1Q Results (*1) vs. PY (%) Revenue 474.6 567.7 +20 Adjusted OP 53.7 57.1 +6 PS/LT (incl. retail & credit card business) Margin 11.3% 10.1% (1.2) pp Revenue 233.3 252.7 +8 Adjusted OP 21.1

  11. Slide 11: Consolidated Financial Results by Business

    Consolidated Financial Results by Business for 1st Quarter of Fiscal 2023 (Diversified Products Business – Continuing Operations) (Yen in billions) Sports & Cycle Biz Revenue 17.0 Adjusted OP 0.9 Margin 5.6% Diversified Products Business Chemical & Industrial Products Biz Revenue 76.3 Adjusted OP 3.

  12. Slide 12: B/S and C/F Highlights

    B/S and C/F Highlights for 1st Quarter of Fiscal 2023 (Yen in billions) 2022 Results 2023 1Q Results (as of Dec. 31, 2022) (as of Mar. 31, 2023) vs. Dec. 31, 2022 Total Assets* 4,962.2 4,994.9 +32.7 Total Equity* 3,012.5 3,074.8 +62.3 Equity Ratio (%)* 59.8% 60.6% +0.8 pp Interest-Bearing Debt 〈Net〉

  13. Slide 13: 2. Fiscal 2023 Guidance

    2. Fiscal 2023 Guidance 13/14

  14. Slide 14: Fiscal 2023 Guidance

    Fiscal 2023 Guidance Forecast of Business Environment Currency ⚫ Expects exchange rate levels of 1USD=128 yen and 1EUR=135 yen from the 2nd quarter onward. Exchange (Full-year basis: 1USD=129 yen, 1EUR=137 yen) ⚫ Raw materials: Though natural rubber and crude oil are currently showing softness, raw

  15. Slide 15: Forward-looking statements disclaimer

    Statements made in this presentation with respect to Bridgestone's current plans, estimates, strategies and beliefs and other statements that are not historical facts are forward-looking statements about the future performance of Bridgestone. Forward-looking statements include, but are not limited t

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