Volvo Car Ab Class B · OMXSTO:VOLCAR_B
Volvo Car Ab Class B — H1 2016 Earnings Presentation
21 slides from Volvo Car Ab Class B's earnings presentation, June 2016
Slide 1: Volvo Car Group results presentation January – June 2016
VOLVO CAR GROUP results presentation January – June 2016 Håkan Samuelsson, president & CEO Hans oscarsson, senior vice president & CFO
Slide 2: Disclaimer
disclaimer By accepting this document, the person to whom it is provided (the “Recipient”) agrees to be bound by the following obligations and limitations. This document has been prepared and issued by Volvo Car AB (together with its subsidiaries, “Volvo Cars”). The information contained in this doc
Slide 3: Agenda
agenda Key Operational Highlights Outlook 2016 • First Half Year 2016 – Strong Progress • Global Growth First Six Months 10.5% • 90-series Launched Q&A Financials Appendix • Key Figures • Net Revenue Improved • Significant EBIT Improvement • Cash Flow • Capex & R&D Spend • Liquidity & Debt Structure
Slide 4: Key operational highlights
Key operational highlights • EBIT of MSEK 5,592 (1,660), EBIT margin of 6.7% (2.2%) • Improved financial result absorbing the production change over effects • Retail sales up 10.5% • Growth in all three regions, US turnaround confirmed • XC90 strong sales, S90 & V90 well received • First corporate b
Slide 5: Global growth first six months 10.5%
GLOBAL growth FIRST SIX MONTHS 10.5% Sweden +12.3% 36,455* Western europe +9.6% US +24.8% 102,396* china +6.3% 36,654* 40,688* Other markets +4.1% *Retail sales first six months 2016 40,370* VOLVO CAR GROUP RESULTS PRESENTATION JANUARY-JUNE 2016 5
Slide 6: 90-series launched
90-series launched S90 XC90 V90 5 THOUSAND 85 THOUSAND 6,5 THOUSAND ORDERS DELIVERED ORDERS
Slide 7: Financials
Financials Hans oscarsson, senior vice president & CFO
Slide 8: Key figures
Key figures H1 2016 Key figures H1 2016 H1 2015 vs H1 2015 Retail sales (units) 256,563 232,284 10.5% Net revenue (MSEK) 83,647 75,215 11.2% Operating income, EBIT (MSEK) 5,592 1,660 3,932 MSEK EBITDA (MSEK) 10,739 6,085 4,654 MSEK Cash flow from operating and investing activities (MSEK) -3,175 -1,0
Slide 9: Net revenue improved
Net revenue improved MSEK 88,000 7,710 86,000 +11.2% 84,000 83,647 -3,398 82,000 80,000 4,120 78,000 76,000 75,215 0 H1 2015 Volume Sales Mix Exchange & Other H1 2016 VOLVO CAR GROUP RESULTS PRESENTATION JANUARY-JUNE 2016 9
Slide 10: Significant EBIT improvement
Significant ebit improvement MSEK 6.7% 7,000 3,050 6,000 5,592 -603 5,000 4,000 1,485 3,000 2.2% 2,000 1,660 0 H1 2015 Volume Sales Mix Exchange, Cost & Other H1 2016 VOLVO CAR GROUP RESULTS PRESENTATION JANUARY-JUNE 2016 10
Slide 11: Cash flow
CASH FloW MSEK 34,000 4,613 33,000 32,000 31,000 30,000 29,135 29,000 28,000 230 27,230 818 27,000 222 26,000 -7,788 0 Cash & Cash Operating Investing Financing Change in Exchange on Cash Cash & Cash Equivalents + Marketable Equivalents + Marketable Securities Marketable Securities FY 2015 Securitie
Slide 12: Capex & R&D spend
Capex & R&D spend SEKbn 14 14,0% 12,6% 12 12,3% 12,0% 10 10,0% 8 5,6 8,0% 4,7 6 6,0% 4 4,0% 4,5 5,0 2 2,0% 0 0,0% H1 2015 H1 2016 Investments in PP&E R&D Spend Capex & R&D Spend against Net Revenue VOLVO CAR GROUP RESULTS PRESENTATION JANUARY-JUNE 2016 12
Slide 13: Liquidity & debt structure as of June 30, 2016
Liquidity & debt structure as of June 30, 2016 MSEK 35,000 33,452 30,000 6,222 25,000 4,330 22,608 20,000 4,692 3,446 15,000 Undrawn Revolving Credit Facility (RCF) 22,900 10,000 Marketable Securities Cash & Cash Equivalents 14,470 Bond Loans 5,000 Short-term Borrowings Long-term Debt 0 Liquidity as
Slide 14: Outlook 2016
Outlook 2016 • Strong start of the year – new full year record sales • Higher profit and profitability compared to full year 2015 • Positive operating and investing cash flow Håkan Samuelsson, president & CEO
Slide 15: Q&A
Q&A
Slide 16: Slide 16
Slide 17: Appendix 1: Retail sales
Appendix 1: Retail sales VOLVO CAR GROUP RESULTS PRESENTATION JANUARY-JUNE 2016 17
Slide 18: Appendix 2: Key figures – extended version
Appendix 2: Key figures – extended version Full year H1 2016 Key figures Q2 2016 Q2 2015 H1 2016 H1 2015 2015 vs H1 2015 Retail sales (units) 135,972 124,563 256,563 232,284 503,127 10.5% Net revenue (MSEK) 41,890 41,564 83,647 75,215 164,043 11.2% Research and development expenses (MSEK) -2,344 -2,
Slide 19: Appendix 3: Definitions of performance measures
Appendix 3: Definitions of performance measures Performance measures disclosed in the presentation are those that are deemed to give the most true and fair, as well as relevant view of Volvo Car Group’s financial performance for a reader of the presentation. VOLVO CAR GROUP RESULTS PRESENTATION JANU
Slide 20: Appendix 4: Reconciliation tables of performance measures
Appendix 4: Reconciliation tables of performance measures VOLVO CAR GROUP RESULTS PRESENTATION JANUARY-JUNE 2016 21
Slide 21: Slide 21