Slide 1: Consolidated Financial Results for FYE 2024
Consolidated Financial Results for FYE 2024 SUBARU CORPORATION Atsushi Osaki, Representative Director, President & CEO May 13 th, 2024 *Sales volume and price & mixture on p.30 of Analysis of Variance in Operating Profit of FYE2024 Q4 has been revised. (May 16 th, 2024) https://www.subaru.co.jp/en/i
Slide 2: Key Points
Key Points ◼ Results for FYE 2024 • Production: 970,000 units (up 11% y/y) While supply constraints for semiconductors and other parts persisted in the first half of the fiscal year, various initiatives were taken to minimize the impact, resulting in a year-on-year increase in global production. • O
Slide 3: Summary
Summary (Yen in 100 millions, Units in thousands) Results Plan FYE 2023 FYE 2024 FYE 2024 Variance Variance FYE 2025 Variance Results (a) Previous Plan* (b) Results (c) (c)-(a) (c)-(b) (d) (d)-(c) Consolidated unit sales 852 980 976 +124 -4 980 +4 Production 874 1,000 970 +96 -30 960 -10 Revenue 37,
Slide 4: Consolidated Financial Results for FYE 2024
Consolidated Financial Results for FYE 2024 SUBARU CORPORATION Katsuyuki Mizuma, Director, Senior Managing Executive Officer & CFO May 13 th, 2024 https://www.subaru.co.jp/en/ir/
Slide 5: Consolidated Financial Results for FYE 2024
Consolidated Financial Results for FYE 2024 https://www.subaru.co.jp/en/ir/ 5
Slide 6: Consolidated Unit Sales / Complete Cars Production
FYE 2024 ： Consolidated Unit Sales / Complete Cars Production (Thousand Units) FYE 2023 FYE 2024 FYE 2024 Variance Variance Results(a) Previous Plan(b) Results(c) (c)-(a) (c)-(b) Production in U.S. 299 - 368 +69 - Production in Japan 575 - 602 +27 - Production* Total 874 1,000 970 +96 -30 FYE 2023 F
Slide 7: Consolidated Unit Sales (by market)
FYE 2024 ： Consolidated Unit Sales (by market) (Thousand Units) : FYE 2023 FYE 2024 Variance Results Results Passenger cars 81 87 +5 Minicars 19 12 -6 Domestic total 100 99 -1 U.S. 592 695 +103 Canada 43 68 +25 Europe 23 27 +4 Australia 44 47 +3 China 10 6 -4 Others 41 34 -7 Overseas total 753 878 +
Slide 8: Consolidated Profit Results
FYE 2024 ： Consolidated Profit Results (100 Million Yen) FYE 2023 FYE 2024 FYE 2024 Variance Variance Results(a) Previous Plan(b) Results(c) (c)-(a) (c)-(b) Revenue 37,745 46,500 47,029 +9,285 +529 Domestic 5,810 - 6,275 +466 - Overseas 31,935 - 40,754 +8,819 - Operating profit 2,675 4,500 4,682 +2,
Slide 9: Analysis of Variance in Operating Profit (Consolidated)
FYE 2024 : A ： n a l y s i s o f Va r i a n c e i n O p e r a t i n g P r o f i t ( C o n s o l i d a t e d ) (100 Million Yen) +1,265 +9 -1,032 R&D expenses -98 -12 +1,875 SG&A expenses, Cost impacts Other Gain on currency etc. exchange Sales volume & 4,682 New car sales total： +1,931 mixture, etc.
Slide 10: Previous Plan vs Results: Analysis of Variance in Operating Profit
P r e v i o u s P l a n F Y E 2 0 2 4 ( a s o f F e b r u a r y 8 th) v s R e s u l t s : A n a l y s i s o f Va r i a n c e i n O p e r a t i n g P r o f i t ( C o n s o l i d a t e d ) (100 Million Yen) +84 +36 -84 +160 -35 +21 Cost impacts SG&A expenses, R&D expenses Sales volume & Other etc. mix
Slide 11: Consolidated Statement of Cash Flows / Cash and cash equivalents
FYE 2024 ： Consolidated Statement of Cash Flows / Cash and cash equivalents (100 Million Yen) FYE 2023 FYE 2024 Results Results Net cash provided by (used in) operating activities 5,038 7,677 Net cash provided by (used in) investing activities -3,368 -7,037 Free cash flows 1,669 640 Net cash provide
Slide 12: Capex / Depreciation / R&D
Capex / Depreciation / R&D (100 Million Yen) FYE 2023 FYE 2024 FYE 2024 Variance Variance Results(a) Previous Plan(b) Results(c) (c)-(a) (c)-(b) Capex *1 1,228 1,800 1,675 +447 -125 Depreciation *1 1,030 1,000 974 -56 -27 R&D expenditures *2 1,078 1,350 1,306 +228 -44 *1 : Leases, capex & amortizati
Slide 13: Forecast for FYE 2025
Forecast for FYE 2025 https://www.subaru.co.jp/en/ir/ 13
Slide 14: Consolidated Unit Sales / Complete Cars Production
FYE 2025 Plan ： Consolidated Unit Sales / Complete Cars Production (Thousand Units) FYE 2024 FYE 2025 Variance Results Plan Production in U.S. 368 - - Production in Japan 602 - - Production*1 Total 970 960 -10 FYE 2024 FYE 2025 Variance Results Plan Consolidated Unit Sales Total 976 980 +4 *1:Produc
Slide 15: Consolidated Unit Sales (by market)
FYE 2025 Plan ： Consolidated Unit Sales (by market) : (Thousand Units) FYE 2024 FYE 2025 Variance Results Plan Passenger cars 87 94 +8 Minicars 12 14 +2 Domestic total 99 108 +9 U.S. 695 700 +5 Canada 68 64 -3 Europe 27 15 -12 Australia 47 43 -4 China 6 5 -1 Others 34 44 +11 Overseas total 878 872 -
Slide 16: Consolidated Profit Plan
FYE 2025 Plan ： Consolidated Profit Plan (Yen in 100 millions) FYE 2024 FYE 2025 Variance Results Plan Revenue 47,029 47,200 +171 Domestic 6,275 6,580 +304 Overseas 40,754 40,620 -134 Operating profit 4,682 4,000 -682 Profit before tax 5,326 4,200 -1,126 Profit for the period attributable to owners
Slide 17: Analysis of Variance in Operating Profit (Consolidated)
FYE 2025 : A n a l y s i s o f Va r i a n c e i n O p e r a t i n g P r o f i t ( C o n s o l i d a t e d ) (100 Million Yen) +209 -331 -282 SG&A expenses, -256 etc. Sales volume & mixture, etc. -10 -12 Loss on currency exchange R&D expenses Cost impacts Other 4,682 New car sales total： -90 by sales
Slide 18: Capex / Depreciation / R&D
Capex / Depreciation / R&D (100 Million Yen) FYE 2024 FYE 2025 Variance Results Plan Capex *1 1,675 1,800 +125 Depreciation *1 974 1,000 +27 R&D expenditures *2 1,306 1,550 +244 *1 : Leases, capex & amortization for intangible assets are not included in the results and forecast above. *2 : Research
Slide 19: Shareholder Returns
Shareholder Returns ➢ Dividend per share (Yen) FYE2024 FYE2025 FYE2024 Previous Forecast Forecast Includes a commemorative Includes a commemorative Interim Dividend 48 48 48 dividend of 10 yen dividend of 10 yen Year-end Dividend 48 Same as above 58 Same as above 48 Includes a commemorative Includes
Slide 20: Shareholder Returns: Dividend per share
Shareholder Returns ➢ Dividend per share (Yen) Ordinary dividend Commemorative dividend 150 106 96 96 100 76 20 20 50 96 76 76 86 0 FYE2023 FYE2024 FYE2024 FYE2025 Previous Forecast Forecast Dividend per share(yen) 76 yen 96 yen 106 yen 96 yen Share Repurchases 40 billion yen - 60 billion yen - Tota
Slide 21: Appendix
Appendix • Segment information by Business & Geographic • Operating Results of Subsidiaries in U.S. • Overseas Revenue • Consolidated Financial Results for 4th Quarter (3 months) • Consolidated Statement of Financial Position • FYE 2024 Results (by Quarter) • Non-consolidated Unit Sales • Complete C
Slide 22: Revenue and Operating Profit by Business Segment
FYE 2024 ： Revenue and Operating Profit by Business Segment (Consolidated) (100 Million Yen) Revenue Operating profit FYE 2023 FYE 2024 FYE 2025 FYE 2023 FYE 2024 FYE 2025 Variance Variance Results Results Plan Results Results Plan Automobile 36,906 45,936 +9,031 45,662 2,633 4,615 +1,983 3,946 Aero
Slide 23: Revenue and Operating Profit by Geographic Area
FYE 2024 ： Revenue and Operating Profit by Geographic Area (Consolidated) (100 Million Yen) Revenue Operating profit FYE 2023 FYE 2024 FYE 2023 FYE 2024 Variance Variance Results Results Results Results Japan 8,437 9,295 +858 1,967 2,612 +646 North America 28,014 36,311 +8,297 1,105 2,182 +1,077 Oth
Slide 24: Overseas Revenue (Consolidated)
FYE 2024 ： Overseas Revenue (Consolidated) (100 Million Yen) FYE 2023 FYE 2024 Variance Results Results North America 28,451 37,068 +8,617 Europe 867 1,157 +290 Asia 914 576 -338 Other 1,704 1,953 +249 Total 31,935 40,754 +8,819 https://www.subaru.co.jp/en/ir/ 24
Slide 25: Consolidated Statement of Financial Position
Consolidated Statement of Financial Position (100 Million Yen) As of March As of March Variance 2023 2024 Total assets 39,442 48,141 +8,700 Current assets 24,298 30,192 +5,894 Non-current assets 15,144 17,950 +2,806 Total liabilities 18,342 22,488 +4,146 Interest bearing debts 3,126 3,995 +869 Total
Slide 26: Non-consolidated Unit Sales
FYE 2024： Non-consolidated Unit Sales (Thousand Units) : FYE 2023 FYE 2024 Variance Results Results Domestic production* 575 602 +27 Domestic sales 105 101 -4 Passenger cars 85 89 +4 Minicars 20 12 -8 Export total 469 510 +41 Components for overseas 307 364 +57 production Total 880 975 +94 * Product
Slide 27: Operating Results of Subsidiaries in U.S.
FYE 2024： Operating Results of Subsidiaries in U.S. （Million US$） SOA *1 FYE 2023 FYE 2024 Variance Results Results Net sales 19,500 23,310 +3,810 Operating income 868 1,025 +156 Net income 648 897 +250 Retail sales (Thousand units) 565 639 +74 SIA *2 FYE 2023 FYE 2024 Variance Results Results Net s
Slide 28: Consolidated Unit Sales (by market), 4th Quarter
4 th Q u a r t e r ( 3 m o n t h s ) ： Consolidated Unit Sales (by market) (Thousand Units) : FYE 2023 FYE 2024 Variance 4Q Results 4Q Results Passenger cars 19 22 +3 Minicars 5 1 -3 Domestic total 24 24 -0 U.S. 155 176 +21 Canada 10 20 +10 Europe 9 6 -2 Australia 10 7 -3 China 2 1 -1 Others 8 7 -1
Slide 29: Consolidated Profit Results, 4th Quarter
4 th Q u a r t e r ( 3 m o n t h s ) ： Consolidated Profit Results (100 Million Yen) FYE 2023 FYE 2024 Variance 4Q Results 4Q Results Revenue 9,665 12,065 +2,401 Domestic 1,491 1,738 +247 Overseas 8,173 10,328 +2,154 Operating profit 538 972 +434 Profit before tax 632 1,163 +531 Profit for the perio
Slide 30: Analysis of Variance in Operating Profit, 4th Quarter
4 th Q u a r t e r ( 3 m o n t h s ) ： A n a l y s i s o f Va r i a n c e i n O p e r a t i n g P r o f i t ( C o n s o l i d a t e d ) (100 Million Yen) +91 +21 -374 +303 R&D expenses Cost impacts -40 +433 Gain on currency SG&A expenses, Other exchange etc. Sales volume & 972 New car sales total： +
Slide 31: FYE 2024 Results (by Quarter)
FYE 2024 Results(by Quarter) (Yen in 100 millions, Units in thousands) FYE 2024 Results 1Q 2Q 3Q 4Q Consolidated Unit Sales 236 234 266 241 Production * 243 250 264 213 Revenue 10,821 11,313 12,829 12,065 Operating profit 845 1,014 1,852 972 Profit for the period attributable 732 777 1,479 862 to ow
Slide 32: Complete Cars Production / Retail Sales Units
Complete Cars Production / Retail Sales Units (1,000units） Production Retail Sales 300 280 276 278 273 277 276 271 271 268 270 269 269 269 264 262 262 262 264 260 264 258 250 261 257 254 250 254 250 249 253 249 252 246 245 243 241 242 242 241 240 236 240 237 232 227 229 228 225 220 220 213 212 200 2
Slide 33: Forward-looking statements
Forward-looking statements including projections and future strategies mentioned in this presentation are based on currently available information and assumptions and are subject to risks and uncertainties. Actual results may vary materially as a result of various factors including, without limitati