Bridgestone Corporation · TSE:5108
Bridgestone — Bridgestone Corp Ord — Q1 2024 Earnings Presentation
25 slides from Bridgestone's earnings presentation, May 13, 2024
Slide 1: Summary of Financial Results for 1Q 2024 & Fiscal 2024 Guidance
Summary of Financial Results for 1Q 2024 & Fiscal 2024 Guidance Bridgestone Corporation Member of the Board Global CEO and Representative Executive Officer Shu Ishibashi May 13, 2024
Slide 2: Positioning of "Plan for 2024" in the 24MBP
Recap of presentation materials Positioning of “Plan for 2024” in the 24MBP from February 16, 2024 21MBP 24MBP 2021 2023 2024 2025 & 2026 Return to a “strong” Bridgestone capable of adapting to change Remaining issues / New issues 変化に対応できる強いブリヂストンへ戻す True next stage Rebuild earning power Top prior
Slide 3: Summary of Financial Results for 1Q 2024 / Fiscal 2024 Guidance
Summary of Financial Results for 1Q 2024 Fiscal 2024 Guidance 3/24
Slide 4: Summary of Financial Results for 1Q 2024
Summary of Financial Results for 1Q 2024 4/24
Slide 5: Summary of financial results for 1Q 2024
Summary of financial results for 1Q 2024 *PS: Passenger car tires, TB: Truck & bus tires OE: Original equipment, REP: Replacement tires Specialties tires centered on off-the-road tires for mining vehicles and 2023 2024 vs. prior PS-REP premium tires drove the Group’s performance despite (Unit: B J
Slide 6: Demand & sales and premium focus: Passenger car tires
Summary of Financial Results for 1Q 2024 – Demand & sales and premium focus – Passenger car tires 6/24
Slide 7: Demand & sales volume: Passenger car tires (Original equipment)
Demand & sales volume results for 1Q 2024: Passenger car tires (Original equipment) PS total demand (OE) *Demand: Bridgestone estimate PS total sales volume (OE) *PS: Passenger car tires, OE: Original equipment Demand volume results for 1Q 2024 (vs. same period prior year) Sales volume results for 1
Slide 8: Demand & sales volume: Passenger car high rim diameter tires (OE)
Demand & sales volume results for 1Q 2024: Passenger car high rim diameter tires (Original equipment) PS high rim diameter (18 inch & above) demand (OE) PS high rim diameter (18 inch & above) sales volume (OE) * Demand: Bridgestone estimate Demand volume results for 1Q 2024 (vs. same period prior ye
Slide 9: Demand & sales volume: Passenger car tires (replacement)
Demand & sales volume results for 1Q 2024: Passenger car tires (replacement) PS demand (REP) PS sales volume (REP) Sell-in demand volume results in 1Q 2024 (vs. same period prior year) Sales volume results in 1Q 2024 (vs. same period prior year) N. America 99 Distribution inventory was adjusted in 1
Slide 10: Demand & sales volume: Passenger car high rim diameter tires (replacement)
Demand & sales volume results for 1Q 2024 : Passenger car high rim diameter tires (replacement) PS high rim diameter (18 inch & above) demand (REP) PS high rim diameter (18 inch & above) sales volume (REP) Sell-in demand volume results in 1Q 2024 (vs. same period prior year) Sales volume results in
Slide 11: 1Q 2024 Passenger car tires - Premium focus ①
1Q 2024 Passenger car tires - Premium focus ① In the challenging business environment, focus on the PS HRD* tires, where there is a “tailwind” of demand growth, drove the Group’s performance ⇒ Accelerate premium enhancement including expanding “ultra”-HRD tires 20 inch & above * HRD= High rim diam
Slide 12: 1Q 2024 Passenger car tires - Premium focus ②
1Q 2024 Passenger car tires - Premium focus ② Ensure a thorough focus on premium tires linked with the expansion of ENLITEN, “new premium,” on top of the growth in high rim diameter (HRD) tires Sales portion of PS premium tires for 1Q HRD tires (replacement/global) 55% HRD tires* Premium tires in
Slide 13: Truck & bus tires; Off-the-Road tires for mining & construction vehicle
Summary of Financial Results for 1Q 2024 – Demand & sales and premium focus – Truck & bus tires Off-the-Road tires for mining & construction vehicle 13/24
Slide 14: Demand & sales volume: Truck & bus tires (Original equipment)
Demand & sales volume results for 1Q 2024: Truck & bus tires (Original equipment) TB demand (OE) TB sales volume (OE) 1Q 2024 Demand volume results (vs. same period prior year) 1Q 2024 Sales volume results (vs. same period prior year) Significant decrease in demand vs. prior year resulting Approx. 8
Slide 15: Demand & sales volume: Truck & bus tires (replacement)
Demand & sales volume results for 1Q 2024: Truck & bus tires (replacement) TB demand (REP) TB sales volume (REP) Sell-in demand volume results for 1Q 2024 (vs. same period prior year) Sales volume results results for 1Q 2024 (vs. same period prior year) Slow recovery of sell-out but distribution inv
Slide 16: Sales volume: Off-the-Road tires for mining & construction vehicles
Sales volume results for 1Q 2024: Off-the-Road tires for mining vehicles & construction vehicles Results for 1Q 2024 vs. prior year Ultra-large: While demand for minerals remains solid, achieved the same level of sales as prior year by the linkage with expansion of solution which enables customers
Slide 17: Summary of financial results for 1Q 2024
Summary of financial results for 1Q 2024 vs. prior Revenue 2023 2024 year (Unit: B JPY) 1Q results 1Q results Despite decrease in sales volume of truck & bus tires in N. America and deterioration of the L. （%） America business, secured the same level of sales in ultra-large off-the-road tires vs.
Slide 18: Activity update aligned with 24MBP
Activity update aligned with 24MBP – “Improve management and working & business quality” and reinforce earning power“ Strengthen business quality - Improve management quality and working & business quality “Passion for Excellence” and Bridgestone DNA “focus on quality “Returning to origins” Basic
Slide 19: Performance by business portfolio
Performance by business portfolio for 1Q 2024 Secured 15% of adj. operating profit with increase in adj. operating profit in the premium tire business (Core business) Premium tire business Core business Revenue 710 B JPY 99% of PY 1Q 2024 106.1 64% 1,064.1 B JPY 29% Revenue portion Revenue portion
Slide 20: Financial results by segment
Financial results by segment for 1Q 2024 (Yen in billions) 2023 1Q Results 2024 1Q Results vs. PY (%) Revenue 300.0 288.8 (4) Japan Adjusted OP 41.5 53.4 +29 Margin 13.8% 18.5% +4.7pp Revenue 137.4 129.8 (6) Asia, Pacific, India and Adjusted OP 11.2 13.3 +19 China Margin 8.2% 10.2% +2.1pp Revenue 49
Slide 21: Fiscal 2024 guidance
Fiscal 2024 guidance BRIDGESTONE
Slide 22: Changes in business environment & financial guidance for fiscal 2024
Fiscal 2024 Guidance - Changes in business environment & financial guidance for fiscal 2024 Changes in business environment (vs. assumptions in the February guidance) Latest financial guidance for fiscal 2024 Assumptions in Latest assumptions on a full- the Feb. guidance year basis (as of May 2024)
Slide 23: Fiscal 2024 guidance: Deterioration of the Latin America business (Argentina)
Fiscal 2024 guidance: Deterioration of the Latin America business (Argentina) When developed the February guidance, assumed 3 scenarios toward the business environment in Argentina: (1) optimistic scenario, (2) neutral scenario, (3) worst scenario. Reflected (2) neutral scenario to the assumption
Slide 24: IR communication plan
IR communication plan August 9, 2024 (Fri) (plan) February 2025 (plan) Summary of Financial Results for 1st half 2024 Summary of Financial Results for 2024 Mid Term Business Plan (2024-2026) Mid Term Business Plan (2024-2026) Progress Update 1 Progress Update 2 November 11, 2024 (Mon) (plan)
Slide 25: 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