Mazda Motor Corp. · TSE:7261
Mazda Motor — Q1 FY March 2022 Earnings Presentation
30 slides from Mazda Motor's earnings presentation, Jul 30, 2021
Slide 1: Fiscal Year March 2022 First Quarter Financial Results
FISCAL YEAR MARCH 2022 FIRST QUARTER FINANCIAL RESULTS
Slide 2: Presentation Outline
Presentation Outline Fiscal Year March 2022 First Quarter Results Fiscal Year March 2022 Full Year Forecast Summary 2
Slide 3: Fiscal Year March 2022 First Quarter Results
Fiscal Year March 2022 First Quarter Results 3
Slide 4: First Quarter Global Sales Volume
FY March 2022 First Quarter Global Sales Volume First Quarter (Thousand units) Change from FY March FY March FY March FY March Global sales volume 2020 2021 2022 Prior Year 2020 Japan 39 26 28 +2 +7% -11 -29% North America 100 81 138 +57 +70% +38 +38% Europe 67 28 55 +27 +97% -12 -18% China 54 61 47
Slide 5: Streamlining/Full Use of Global Inventory
Streamlining/Full Use of Global Inventory During the semiconductor shortage, intensify weekly monitoring process to adjust production/sales/inventory in a way to maximum sales and profit Prioritize vehicle supply to strong-performing markets. Lean inventory management enabled the US to achieve v
Slide 6: First Quarter Financial Metrics
FY March 2022 First Quarter Financial Metrics First Quarter FY March FY March FY March Change from (Billion Yen) 2020 2021 2022 Prior Year FY March 2020 Net sales 848.9 376.7 803.4 +426.7 +113% -45.5 -5% Operating profit 7.0 -45.3 26.1 +71.4 - +19.1 +276% Ordinary profit 9.1 -41.8 26.5 +68.3 - +17.4
Slide 7: First Quarter Operating Profit Change
FY March 2022 First Quarter Operating Profit Change FY March 2022 First Quarter vs FY March 2021 First Quarter · Increase in wholesales volume by 147,000 units · Continued fixed cost · Curbed marketing expenses, reduction/efficiency (Billion Yen) improved sales mix, etc. by improvement approx. ¥20 b
Slide 8: Profit Structure Improvement since FY March 2020 (First Quarter)
Profit Structure Improvement since FY March 2020 (First Quarter) (Billion yen) · Impact from volume reduction: · Continued fixed cost reduction approx. -¥25 billion (Wholesales /efficiency improvement FY March down approx. 50,000 units) 2022 · Sales quality improvements: Fixed cost, First Quarter ·
Slide 9: First Quarter Changes in Business Performance
FY March 2022 First Quarter Changes in Business Performance Global sales 353,000 units (back on par with FY March 2020) Consolidated wholesale 261,000 units (lower than FY March 2020 due to reduced production) Operating profit ¥26.1 billion, ROS 3.2％ (higher than FY March 2020) (Thousand units
Slide 10: Lower Break-even Volume Changes since FY March 2020
Lower Break-even Volume Changes since FY March 2020 Intensified and enforced activities to curb fixed cost and to improve variable costs As profitability improved, lowered the break-even volume below 1 million units on an annual basis since the second half of FY March 2021 Break-even volume 1 mi
Slide 11: Full Year Forecast
FY March 2022 Full Year Forecast Due to uncertainties such as the semiconductor shortage and raw material price hikes, the full-year forecast remains unchanged Full Year FY March FY March Change from (Thousand units) 2021 2022 Prior Year Global sales volume 1,287 1,410 +122 +9% Consolidated wholes
Slide 12: Summary
Summary Steady progress in strengthening the business foundation and profitability based on the policy of the Medium-term Management Plan Revision - Investment in technologies, products and production is progressing as planned - Progressed sales quality improvements and curbed expenses that deprec
Slide 13: Mazda Motor Corporation
MAZDA MOTOR CORPORATION 13
Slide 14: Appendix
Appendix MAZDA MOTOR CORPORATION 14
Slide 15: Cash Flow and Net Cash
Cash Flow and Net Cash FY March FY March 2021 2022 Change from (Billion Yen) Full Year First Quarter Prior FY End Cash Flow - From Operating activities 120.1 22.3 - - From Investing activities -78.9 -33.5 - - Free Cash Flow 41.2 -11.2 - Cash and Cash Equivalents 738.8 837.8 +99.0 Interest-bearing De
Slide 16: Japan
Japan 28,000 units sold, up 7% year on year Total market share declined 0.4 points year on year to 2.7%, while registered vehicle market share decreased 0.7 points year on year to 3.2% First Quarter Sales Volume & Market Share The CX-8, updated in December, led volume growth and total 3.1% 2.7
Slide 17: North America
North America 138,000 units sold, up 70% year on year USA: 106,000 units, up 73% year on year - Market share increased 0.3 points year on year to 2.4% - Sales growth of crossover SUVs outperformed the industry’s recovery, contributing to an increase in market First Quarter Sales Volume & US Mark
Slide 18: Europe
Europe 55,000 units sold, up 97％ year on year Market share increased 0.2 points year on year to 1.2% Sales recovered following mitigation of lockdown First Quarter Sales Volume & restrictions, etc. and market Market Share share returned to levels seen in FY March 2020 1.1% 1.2% (Thousand units
Slide 19: China
China 47,000 units sold, down 23％ year on year Market share declined 0.2 points year on year to 0.7% Sales decreased due to reasons such as the effect of the CX-4 First Quarter Sales Volume & product update wearing off Market Share The new-generation Mazda3 0.9% 0.7% continues to post sound
Slide 20: Other Markets
Other Markets 86,000 units sold, up 77% year on year Australia: 33,000 units sold, up 81% year on year ⁃ Market share rose 2.1 points year on year to 10.8% ⁃ Sales of crossover SUVs, mainly CX-5 and CX-30, increased, First Quarter Sales Volume & leading a large growth in sales Australia Market S
Slide 21: Net Sales by Geographic Area
Net Sales by Geographic Area (Billion Yen) 922.6 843.7 164.4 803.4 739.1 154.4 148.6 118.3 145.7 151.3 123.5 153.5 309.0 376.7 283.3 326.4 Other 60.0 303.4 Europe 69.6 North 109.2 America 303.5 214.0 211.6 197.9 Japan 137.9 1Q 2Q 3Q 4Q 1Q FY March 2021 FY March 2022 21
Slide 22: Net Sales by Product
Net Sales by Product (Billion Yen) 922.6 843.7 67.9 803.4 60.9 65.3 739.1 55.5 61.4 65.0 66.7 58.9 376.7 789.4 Other 721.4 51.0 681.2 Parts 43.4 615.2 Vehicles / Parts for 282.3 Overseas Production 1Q 2Q 3Q 4Q 1Q FY March 2021 FY March 2022 22
Slide 23: Net Sales Change (3 Months)
Net Sales Change (3 Months) FY March 2022 First Quarter vs. FY March 2021 First Quarter (Billion Yen) 200% FY March 2022 803.4 FY March 2021 376.7 Domestic +11% Overseas +97% 150% +113% +108% 100% 50% +5% 0% Total Volume & Mix Foreign Exchange 23
Slide 24: Global Sales Volume and Consolidated Wholesales (3 Months)
Global Sales Volume and Consolidated Wholesales (3 Months) First Quarter (Thousand units) FY March FY March FY March Change from Global sales volume 2020 2021 2022 Prior Year FY March 2020 Japan 39 26 28 +2 +7% -11 -29% North America 100 81 138 +57 +70% +38 +38% Europe 67 28 55 +27 +97% -12 -18% Chi
Slide 25: Global Sales Volume and Consolidated Wholesales (Full Year)
Global Sales Volume and Consolidated Wholesales (Full Year) Full Year (Thousand units) FY March FY March Change from Global sales volume 2021 2022 Prior Year Japan 176 195 +18 +10% North America 403 414 +11 +3% Europe 178 225 +46 +26% China 228 260 +32 +14% Other Markets 301 316 +15 +5% Total 1,287
Slide 26: Operating Profit Change (Full Year)
FY March 2022 Operating Profit Change (Full Year) FY March 2022 Full Year vs. FY March 2021 Full Year · Increase in wholesales USD -1.2 · Investment for growth volume by 145,000 units EUR +5.2 ex. US plant · Curbed marketing CAD +6.7 · Continued fixed cost (Billion Yen) expenses, improved sales AUD
Slide 27: Exchange Rates
Exchange Rates Full Year FY March FY March Change from （Yen） 2021 2022 Prior Year US Dollar 106 109 +3 Euro 124 129 +5 Canadian Dollar 80 86 +6 Australian Dollar 76 84 +8 British Pound 139 151 +12 27
Slide 28: Key Data
Key Data (Billion Yen) 155.0 127.4 128.0 Full 93.0 95.0 89.8 Year 29.7 33.6 1Q 26.3 22.9 22.3 14.9 FY March 2021 2022 2021 2022 2021 2022 Capital Depreciation R&D Cost Expenditure Cost 28
Slide 29: Dividend Payment
Dividend Payment Trend of dividends per share Interim dividends Year-end dividends 35 35 35 35 30 20 20 20 20 15 15 10 15 15 15 15 15 15 1 10 0 FY March 2014 2015 2016 2017 2018 2019 2020 2021 2022 Results up to now Plan Note) A share consolidation was implemented on common stock with a ratio of fiv
Slide 30: Disclaimer
Disclaimer The projections and future strategies shown in this presentation are based on various uncertainties including, but not limited to, 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 M