Mazda Motor Corp. · TSE:7261
Mazda Motor — Q1 FY March 2013 Earnings Presentation
29 slides from Mazda Motor's earnings presentation, Jul 31, 2012
Slide 1: Fiscal Year End March 2013 First Quarter Financial Results
FISCAL YEAR END MARCH 2013 FIRST QUARTER FINANCIAL RESULTS New MAZDA CX-5 Mazda Motor Corporation July 31, 2012 1
Slide 2: Presentation Outline
PRESENTATION OUTLINE Highlights Fiscal Year End March 2013 First Quarter Results Update of Structural Reform Plan Summary 2
Slide 3: Highlights
HIGHLIGHTS 3
Slide 4: Highlights (1) - First Quarter Results
HIGHLIGHTS (1) - First Quarter Results <First Quarter Results> Revenue is ¥506.6 billion. Operating profit is ¥1.8 billion. Net loss is ¥6.5 billion. Achieved operating profit following the last 4th Quarter despite the strong yen environment. Good start to achieve the profit forecast in the full yea
Slide 5: Highlights (2) - Full Year Forecast
HIGHLIGHTS (2) - Full Year Forecast <Implement Actions Against Further Yen Appreciation> Continue sales momentum of the new CX-5 which global sales are successful and introduce next-generation Mazda6/Atenza into key markets. Significantly improve profit with the new CX-5 and next- generation Mazda6/
Slide 6: Fiscal Year End March 2013 First Quarter Results
FISCAL YEAR END MARCH 2013 FIRST QUARTER RESULTS 6
Slide 7: FY End March 2013 Financial Metrics
FY END MARCH 2013 FINANCIAL METRICS First Quarter Change FY End FY End (Billion yen) March 2013 March 2012 Amount YOY (%) Revenue 506.6 408.1 98.5 24 Operating profit 1.8 (23.1) 24.9 - Ordinary profit (8.9) (25.8) 16.9 - Profit before tax (9.7) (30.6) 20.9 - Net income (6.5) (25.5) 19.0 - Operating
Slide 8: Key Data
KEY DATA First Quarter Change FY End FY End March 2013 March 2012 Volume YOY(%) Global sales volume (000) Japan 51 35 16 44 North America 90 86 4 4 USA 62 58 4 7 Europe 44 44 0 (1) China 46 53 (7) (12) Other Markets 69 63 6 10 Total 300 281 19 7 Exchange rate US$ / Yen 80 82 (2) € / Yen 103 117 (14)
Slide 9: Market Summary (1)
MARKET SUMMARY (1) <Japan> (000) Japan Sales Volume Sales were 51,000 units, up 44% YOY 44% 51 thanks to brisk sales of the new CX-5 and 50 demand increase assisted by subsidy 35 effect. The new CX-5 received 26,000 orders, double the original annual planned sales volume. Diesel engine model mix exc
Slide 10: Market Summary (2)
MARKET SUMMARY (2) (000) <Europe> Europe Sales Volume Europe total sales were 44,000 units, 50 44 44 about the same as last year. (1)% The new CX-5 sales are strong with backorders of approx. 20,000 units. Germany & Germany & Residual value in the main countries others 36 others 32 of Europe is top
Slide 11: Market Summary (3)
MARKET SUMMARY (3) (000) Other Markets Sales Volume <Other markets> 10% 69 Sales were 69,000 units, up 10% 63 YOY. Others 22 Australia: Attained a record high sales volume of 26,000 units, 50 Others 27 23% YOY, due to brisk sales of the new CX-5 and the new BT- 50. Share also improved 0.5ppts Austra
Slide 12: Operating Profit Change
OPERATING PROFIT CHANGE FY End March 2013 1st Quarter vs. FY End March 2012 1st Quarter (Billion yen) Cost FY March Improvement 2013 Marketing Other Vol. & Mix Exchange 9.3 Expense 3.6 1.8 24.2 0 (4.3) (7.9) (15) ・Turnaround from the Improvement earthquake impact (Deterioration) ・CX-5 effect ・Restra
Slide 13: Operating Profit Change
OPERATING PROFIT CHANGE FY End March 2013 1st Quarter vs. FY End March 2012 1st Quarter (Billion yen) Cost FY March Improvement 2013 Marketing Other Vol. & Mix Exchange 9.3 Expense 3.6 1.8 24.2 0 (4.3) (7.9) Global launch of CX-5 (15) US Dollar (0.9) Improvement Euro (2.9) (Deterioration) Other (4.1
Slide 14: Update of Structural Reform Plan (1)
UPDATE OF STRUCTURUAL REFORM PLAN (1) <Business innovation through SKYACTIV> New CX-5 achieves 1) Product attraction improvement with SKYACTIV TECHNOLOGY and KODO design and 2) Sales method innovation by using product attraction 3) Cost Improvement based on Monotsukuri Innovation. Accelerate actions
Slide 15: Update of Structural Reform Plan (2)
UPDATE OF STRUCTURUAL REFORM PLAN (2) <Accelerate further cost improvement through Monotsukuri Innovation> Revise investment efficiency in SKYACTIV-G/D production facility upward from 60% to 70% Improve Cost / Efficiency R&D Efficiency 30% or more Investment in SKYACTIV-G/D 70% or more Production Fa
Slide 16: Update of Structural Reform Plan (3)
UPDATE OF STRUCTURUAL REFORM PLAN (3) Reinforce business in emerging countries and establish global production footprint. - Started discussion with Bermaz to establish a joint venture for production and sales in Malaysia. - Increased the production capacity of pickup trucks in the 1st Quarter at AAT
Slide 17: Summary
SUMMARY <First Quarter Results> Achieved operating profit of ¥1.8 billion following the last 4th Quarter despite the strong yen environment. Global sales volume is 300,000 units, up 7% Year-over- Year, led by new CX-5 which is being acclaimed globally and has top class residual value in its segment
Slide 18: Wrap-up
WRAP-UP <Implement Actions Against Further Yen Appreciation> Continue sales momentum of the new CX-5 which global sales are successful. Pull ahead production and introduction of the next-generation Mazda6 for Europe. Introduce it in Japan and Europe by the end of the year and in other key markets ea
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Slide 20: Appendix
APPENDIX 20
Slide 21: Cash Flow and Net Debt
CASH FLOW AND NET DEBT First Quarter FY March FY March Better/ (Billion yen) 2013 2012 (Worse) Free Cash Flow (20.3) (46.1) - Cash and Cash Equivalents 439.4 314.2 125.2 Net Debt (326.5) (413.7) 87.2 Net Debt-to-equity Ratio 69 / 58* % 101 % 32 / 43* pts Equity Ratio 25 / 27* % 23 % 2 / 4* pts *Refl
Slide 22: Revenue by Geographic Area
REVENUE BY GEOGRAPHIC AREA (Billion yen) 614.8 600 551.1 86.0 506.6 74.8 459.1 119.8 89.4 408.1 93.7 63.1 Other 69.1 67.8 69.9 63.8 144.8 185.8 300 Europe 152.2 143.5 North 94.3 America 237.7 223.1 Japan 180.9 182.6 197.2 0 1Q 2Q 3Q 4Q 1Q FY End FY End March 2012 March 2013 22
Slide 23: Revenue by Product
REVENUE BY PRODUCT (Billion yen) 614.8 600 551.1 59.3 50.7 506.6 56.5 459.1 55.0 52.4 408.1 54.8 46.5 Other 58.4 49.1 Parts 47.9 300 504.7 442.1 Vehicle / 405.1 355.2 Parts for 301.8 overseas production 0 1Q 2Q 3Q 4Q 1Q FY End FY End March 2012 March 2013 23
Slide 24: Revenue Change
REVENUE CHANGE FY End March 2013 1st Quarter vs. FY End March 2012 1st Quarter (Billion yen) 40% FY March 2013: 506.6 FY March 2012: 408.1 Japan 7% Overseas 22% 29% 20% 24% 0% (5)% Total Vol. & Mix Exchange (20)% 24
Slide 25: Key Data
KEY DATA First Quarter Change FY March FY March 2013 2012 Volume YOY(%) Consolidated wholesales (000) Japan 54 43 11 26 North America 89 59 30 52 Europe 32 27 5 16 China 2 3 (1) (16) Other Markets 70 54 16 28 Total 247 186 61 33 25
Slide 26: FY End March 2013 Financial Metrics
FY END MARCH 2013 FINANCIAL METRICS FY March FY March 2013 2012 Full Year (Billion yen) 1st Half 2nd Half Full Year Full Year Change Revenue 1,040.0 1,160.0 2,200.0 2,033.1 166.9 Operating profit 10.0 20.0 30.0 (38.7) 68.7 Ordinary profit (2.0) 17.0 15.0 (36.8) 51.8 Profit before tax 2.0 15.0 17.0 (
Slide 27: Key Data
KEY DATA FY March 2013 Change from Prior Year 1st Half 2nd Half Full Year 1st Half 2nd Half Full Year Global sales volume (000) Japan 117 108 225 22 (3) 19 North America 193 197 390 11 7 18 Europe 95 90 185 4 (2) 2 China 122 133 255 15 17 32 Other Markets 143 142 285 14 8 22 Total 670 670 1,340 66 2
Slide 28: Key Data
KEY DATA (Billion yen) Full 100 Year 91.7 96.0 90.0 Full Year 78.0 Full Year 68.8 63.0 50 1Q 25.2 21.8 1Q 15.5 15.1 1Q 17.4 15.2 0 (FYE March) 2012 2013 2012 2013 2012 2013 Capital Spending Depreciation R&D cost 28
Slide 29: Disclaimer
DISCLAIMER The projections and future strategies shown in this presentation are based on various uncertainties including without limitation the conditions of the world economy in the future, the trend of the automotive industry and the risk of exchange-rate fluctuations. So, please be aware that Maz