Nissan Motor Co., Ltd. · TSE:7201
Nissan Motor — Q3 FY2014 Earnings Presentation
23 slides from Nissan Motor's earnings presentation, Feb 9, 2015
Slide 1: FY2014 third-quarter financial results
FY2014 third-quarter financial results Nissan Motor Co., Ltd February 9, 2015 Key performance indicators: financial results (TSE report basis - China JV Equity basis) (billion yen) Net revenue Operating Free cash flow Net cash Net income profit (Auto) (Auto) 1,177.4 8,088.5 7,278.6 643.5 417.9 300.7
Slide 2: FY14 business update
FY14 business update FY14 sales performance (9 months) FY14 consolidated financial performance (9 months) FY14 outlook (C) Copyright NISSAN MOTOR CO., LTD. www.nissan-global.com All rights reserved. 3 FY14 business update Continued 1st CMF momentum Sales growth Product awards Qashqai Rogue (Europe)
Slide 3: FY14 business update: New products and technology
FY14 business update New products Murano Titan Infiniti Q60 concept Maxima (C) Copyright NISSAN MOTOR CO., LTD. www.nissan-global.com All rights reserved. 5 FY14 business update Technology Autonomous update Advanced technology ■ Joint development with NASA ■ Direct Adaptive Steering ■ License techno
Slide 4: Zero-emission leadership and Alliance
FY14 business update Zero-emission leadership EV sales Infrastructure ■ Cumulative global sales of Nissan ■ ”No Charge to Charge” in US LEAF reached 158,000 units (thousand units) 15 10 5 ■ Increasing quick chargers in Japan 0 About 1Q 2Q 3Q 4Q 1Q 2Q 3Q 6,000 FY13 FY14 About ■ Renault-Nissan Allianc
Slide 5: FY14 sales: Global
FY14 business update FY14 sales performance (9 months) FY14 consolidated financial performance (9 months) FY14 outlook (C) Copyright NISSAN MOTOR CO., LTD. www.nissan-global.com All rights reserved. 9 FY14 sales performance (9 months) : Global TIV* Retail volume vs. FY13 **M/S 6.0% vs. FY13 **M/S 6.
Slide 6: FY14 sales: Japan and China
FY14 sales performance (9 months) : Japan ■ TIV: 3.72 million units, -3.4% Retail volume (thousand units) ■ Sales: 417 k units, -10.5% -10.5% ■ Market share: 11.2%, -0.9 points 466 417 ■ New X-Trail: 29.1 k units FY13 FY14 3Q YTD 3Q YTD ■ DAYZ / DAYZ ROOX: 108.3 k units Market share -0.9 points X-Tr
Slide 7: FY14 sales: North America and Europe
FY14 sales performance (9 months) : North America ■ US US Retail volume • TIV: 12.78 million units, +7.3% +10.9% (thousand units) • Sales: 1,032 k units, +10.9% 1,032 • Market share: 8.1%, +0.3 points 930 ■ Canada • Sales: 92 k units, +26.1% FY13 FY14 • Market share: 6.2%, +1.0 points 3Q YTD 3Q YTD
Slide 8: FY14 sales: Other markets
FY14 sales performance (9 months) : Other markets ■ Estimated TIV: 15.24 million units, -3.2% ■ Sales: 651 k units, +0.9% Asia & Oceania: 267 k units, -1.9% Retail volume Latin America: 142 k units, -3.4% Middle East: 169 k units, +11.0% (thousand units) +0.9% 645 651 NP300 Navara Datsun GO+ Panca F
Slide 9: FY14 financial performance (9 months)
FY14 financial performance (9 months) (TSE report basis - China JV Equity basis) FY13 FY14 Change (billion yen) 3Q YTD 3Q YTD Variance vs. FY13 (%) Net revenue 7,278.6 8,088.5 +809.9 +11.1% Operating profit 300.7 417.9 +117.2 +39.0% OP margin 4.1% 5.2% Non-operating 26.1 78.5 Ordinary profit 326.8 4
Slide 10: Free cash flow (Auto business)
FY14 financial performance (9 months) (TSE report basis - China JV Equity basis) Free cash flow (Auto business) +99.7 (billion yen) +808.7 -204.6 478.8 -225.0 155.7 -310.8 -12.3 Net cash AP / AR Inventory Tax / other Cash flow CAPEX* Others Free cash inflow from operating from flow P&L items activit
Slide 11: Net Cash (Auto business)
Net Cash (Auto business) (TSE report basis - China JV Equity basis ) 2013 2014 (billion yen) (billion yen) 1,200 1,200 1,177.4 1,128.3 1,015.9 1,000 1,000 916.3 836.0 800 729.2 800 622.9 643.5 600 600 400 400 200 200 0 0 Mar. Jun. Sep. Dec. Mar. Jun. Sep. Dec. FX: JPY/USD FX: JPY/USD End of month 94
Slide 12: Financial performance (management pro forma basis)
FY14 financial performance (9 months) (management pro forma basis* ) FY13 FY14 Change (billion yen) 3Q YTD 3Q YTD Variance vs. FY13 (%) Net revenue 7,935.6 8,790.5 +854.9 +10.8% Operating profit 370.8 516.8 +146.0 +39.4% OP margin 4.7% 5.9% +1.2% Net income 274.1 338.8 +64.7 +23.6% 99.4 JPY/USD 106.
Slide 13: FY14 sales outlook
FY14 sales outlook Retail volume vs. FY14 vs. FY13 previous outlook 5,450 5,300 Global +2.2% -2.8% 5,188 640 640 Japan -11.0% 0.0% 1,270 1,222 China +0.5%** -3.8% (thousand units) 1,810 North +10.4% +0.6% (1,410) 1,820 America (1,410) (+9.7%) (0.0%) (US) 780 740 Europe +9.5% -5.1% 950 878 Others 0.0
Slide 14: Operating profit outlook and shareholder return
FY14 outlook (TSE report basis - China JV Equity basis) Operating profit variance analysis (billion yen) +55 +5 +20.0 +35.0 570 535 -25 -20.0 FY14 * FOREX Volume Monozukuri FY14 Previous & Revised outlook Others outlook *Previous outlook on November 4, 2014 (C) Copyright NISSAN MOTOR CO., LTD. www.n
Slide 15: Appendix
(C) Copyright NISSAN MOTOR CO., LTD. www.nissan-global.com All rights reserved. 29 Appendix
Slide 16: Sales financing: funding sources and penetration
Sales financing : Funding sources (As of December 2014) Equity Group Finance 9.9% (Inter-Company) ABS Off B/S 19.6% 3.0% Commercial paper 3.8% ABS On B/S S/T Loan 25.2% 3.1% L/T Loan Bonds 24.2% 11.2% Total funding amount 8,259 billion yen (C) Copyright NISSAN MOTOR CO., LTD. www.nissan-global.com A
Slide 17: Sales financing: credit loss ratio and operating profit
Sales financing : net credit loss ratio FY13 FY14 3Q YTD 3Q YTD Variance Lease: 0.03% Lease: 0.04% Lease: +0.01% NFS Retail: 0.14% Retail: 0.12% Retail: -0.02% Lease: 0.22% Lease: 0.24% Lease: +0.02% NMAC Retail: 0.76% Retail: 0.80% Retail: +0.04% Lease: 0.13% Lease: 0.18% Lease: +0.05% NCF Retail:
Slide 18: Operating profit variance analysis and Q3 sales
FY14 financial performance (9 months) (TSE report basis - China JV Equity basis) Operating profit variance analysis (billion yen) 1. Foreign exchange impact +41.8 USD +68.7 (99.4 to 106.7) INR -4.9 (1.68 to 1.77) MXN +4.4 (7.77 to 8.01) EUR* +0.4 RUB -24.6 (3.08 to 2.75) Others -2.2 * including othe
Slide 19: FY14 3rd quarter financial performance (3 months)
FY14 3rd quarter financial performance (3 months) (TSE report basis - China JV Equity basis) FY13 FY14 Change (billion yen) 3Q 3Q Variance vs. FY13 Net revenue 2,522.4 2,943.9 +421.5 +16.7% Operating profit 78.7 156.0 +77.3 +98.1% OP margin 3.1% 5.3% Non-operating +16.8 +12.2 Ordinary profit 95.5 16
Slide 20: Q3 operating profit variance analysis
FY14 3rd quarter financial performance (3 months) (TSE report basis - China JV Equity basis) Operating profit variance analysis (billion yen) 1. Foreign exchange impact +24.5 USD +43.1 (100.4 to 114.4) THB -5.2 (3.17 to 3.50) CAD +3.5 (95.7 to 100.6) EUR* +0.2 RUB -18.3 (3.09 to 2.43) Others +1.2 *
Slide 21: Non-operating and extraordinary items detail
FY14 financial performance (9 months) (TSE report basis - China JV Equity basis) Detail of extraordinary gains/losses (billion yen) FY13 FY14 Variance 3Q YTD 3Q YTD • Sale/disposal of fixed assets -1.7 -3.0 -1.3 • Impairment loss on fixed assets -0.9 -1.6 -0.7 • Gain on contribution of securities to
Slide 22: Q3 extraordinary items and free cash flow
FY14 3rd quarter financial performance (3 months) (TSE report basis - China JV Equity basis) Detail of extraordinary gains/losses (billion yen) FY13 FY14 Variance 3Q 3Q • Sale/disposal of fixed assets -0.4 -0.7 -0.3 • Impairment loss on fixed assets -0.3 -0.9 -0.6 • Gain on contribution of securitie
Slide 23: Detail of other markets retail sales
FY14 retail sales (9 months) FY14 3Q YTD Detail of other markets FY13 3Q YTD 450 400 350 (thousand units) 300 266.6 250 271.9 200 168.6 141.6 150 151.9 146.5 100 74.6 50 74.9 0 Asia & M.East Africa Latin Oceania America (C) Copyright NISSAN MOTOR CO., LTD. www.nissan-global.com All rights reserved.