Nissan Motor Co., Ltd. · TSE:7201
Nissan Motor — Q1 2024 Earnings Presentation
34 slides from Nissan Motor's earnings presentation, Jul 25, 2024
Slide 1: FY2024 First Quarter Financial Results
FY2024 First Quarter Financial Results
Slide 2: Net Revenue, Operating Profit, Net Income
NET REVENUE OPERATING PROFIT NET INCOME 2,998.4B 1.0B 28.6 B +3% YEAR -99% YEAR -73% YEAR OVER YEAR OVER YEAR OVER YEAR NISSAN 9 MOTOR CORPORATION
Slide 3: Nissan
NISSAN MOTOR CORPORATION
Slide 4: Nissan
NISSAN. FOR Ci
Slide 5: Q1 Financial Results: FY24 Q1 Volume Results
4 Q1 FINANCIAL RESULTS _— tHe/\Rc FY24 Q1 Volume Results THE/ ARC Retail Sales (thousand units) Production Volume -0.2% -7.5% 789 —~+ 787 vs. FY23 848 N. 784 vs. FY23 9 China +3.3% China —--17.0% Japan -8.0% 308 North 1.7% | Excluding merica China: 644 -1,.2% Excluding | China 4.4% 73 Europe +7.6% N
Slide 6: FY24 Q1 Financial Performance
FY2024 Q1 FINANCIAL RESULTS FY24 Q1 Financial Performance @ FY23.Q1 BM FY24 1 GBillion Yen) ting Profit . Net Revenue Opera megin) Net Income CAPEX R&D Bs) 29177 2,998.4 128.6 100.8 1341 479 2 (4.4%) s 105.5 64.4 O 28.6 fo} ). ° (oo%) | ting Profit Net Revenue Opera tnagin) ' Free Cash Flow Net Cash
Slide 7: Japan: TIV and Retail Sales
TIV (Thousand units) 6.8% 1,069 996 vs. FY23 Gets Registered -5.2% 383 Mini -9.7% FY23 Q1 FY24Q1 LS NISSAN MOTOR CORPORATION FY2024 Q1 FINANCIAL RESULTS Retail Sales vs. FY23 Registered -14.19% Mini = +3.7% FY23 Q1 FY24Q1 © So tHe/\Re Nissan Buse: +20% Refreshed DAYZ+ROOX Order take improving with s
Slide 8: North America: TIV and Retail Sales
FY2024 Q1 FINANCIAL RESULTS North America tHe/\Re Nissan Busrress lan TIV (Thousand units) +1.0% 4,836 = 4,884 vs. FY23 785 Others +8.7% 4,051 US 0.5% FY23 Q1 FY24Q1 ——— NISSAN MOTOR CORPORATION Retail Sales -1.7% 328 —> 393 ws FY28 84 Others +2.5% 244 US 3.1% FY23 Q1 FY24Q1 RRL © oO US sales Droppe
Slide 9: 4.4 4.3 4.2 4.1 3.9 3.8 3.7 3.6 - .5 年度 年度
300 4.4 4.3 250 4.2 200 4.1 4 150 3.9 100 3.8 3.7 50 3.6 - 3.5 年度 年度
Slide 10: Europe
FY2024 Q1 FINANCIAL RESULTS Europe TIV (Thousand units) Retail Sales +7.6% : 79 3 Refreshed QASHOAI and JUKE with strong customer acceptance Electrification mix at 49% Ariya awarded “Best Car for Long Distance” by Auto Trader o06 FY23 Q1 FY24Q1 FY23 Q1 FY24Q1 NISSAN MOTOR CORPORATION 1 0
Slide 11: China
FY2024 Q1 FINANCIAL RESULTS China tHe/\Re Nissan Busrress lan TIV (Million units) +1.6% vs. FY23 Others +15.0% International PV Brand "160% FY23 H1 FY24H1 Retail Sales (Thousand units) -5.4% 359 ~S 939 vs. FY23 55 Others -22.2% Nissan 5 9, Brands 2.3% 304 FY23 H1 FY24H1 FY23 Q2 FY24 Q2 FY23 Q2 FY24
Slide 12: Financial Performance
FY2024 Q1 FINANCIAL RESULTS Financial Performance (Billion Yen) FY23 Q1 FY24 Q1 Variance Net Revenue 2,917.7 2,998.4 +80.7 Operating Profit 128.6 1.0 -127.6 OP Margin 44% 0.0% -4.4 points Non-Operating’! 38.0 64.1 Ordinary Profit 166.6 65.1 -101.5 Extraordinary’? -373 0.2 Profit Before Tax 129.2 65.
Slide 13: Operating Profit Variance Analysis
FY2024 Q1 FINANCIAL RESULTS Operating Profit Variance Analysis FY24 Q1 Actual vs. FY23 Q1 Actual (Billion Yen) +13.9 -110.4 +23,7 a v6 060 0.0 -27.1 -27.7 1.0 FY23 Raw Sales Monozukuri F FY24 Ql Forex Materials Performance Cost Inflation Others for] ; - Sales Finance -9.2 Breakdown Volume/Mix -34.9
Slide 14: Product Momentum with Refreshed Line-up
THeZ \RC Product Momentum with Refreshed Line-up O Ariya Nismo = Kicks <> Qashgai NISSAN MOTOR CORPORATION 14
Slide 15: Nissan
NISSAN MOTOR CORPORATION
Slide 16: FY24 Volume Outlook
FY2024 OUTLOOK FY24 Volume Outlook Retail Sales (thousand units) Production Volume vs. Previous 3700 w.FV23 Qutlook , Global +6.0% 0.3% 3,442 3,430 3,500 3,450 China -3.0% 3.8% China -~ Japan +3.3% 0.0% North ‘950 1,430 Ameiva 17% 1.4% Excluding ¥ China: 0.7% Excluding 2,650 China 361 385 Europe +6.
Slide 17: FY24 Outlook
FY2024 OUTLOOK FY24 Outlook (Billion Yen) FY23 FY24 Previous | FY24 Revised Variance Variance vs Actual Outlook Outlook vs FY23 Previous Outlook Net Revenue 12,685.7 13,600.0 14,000.0 +1,314.3 +400.0 Operating Profit 568.7 600.0 500.0 -68.7 -100.0 OP Margin 45% 44% 3.6% -0.9 points -0.8 points Net I
Slide 18: Operating Profit Variance: Revised vs Previous Outlook
FY2024 OUTLOOK Operating Profit Variance Analysis FY24 Revised Outlook vs. Previous Outlook (Billion Yen) +80.0 -110.0 600.0 | -20.0 -50.0 500.0 FYO4 Forex/ Sales Monozukuri FY24 Previous Outlook Raw Material Performance Cost Others Revised Outlook Breakdown __ Volume/Mix -10.0 | Manufacturing 0.0 C
Slide 19: Q2-Q4 Operating Profit Progression
Operating Profit Variance Analysis Q2-Q4 Operating Profit Progression Retail Sales +200 thousand units (Billion Yen) Retail Sales 2.9 Million Units as 499.0 440.0 Q4 Q3 Q2 208.1 FY23 Forex Sales Inflation FY24 Q2-04 Performance /Others Q2-04 NISSAN MOTOR CORPORATION 19
Slide 20: Product Moment
Product Moment
Slide 21: Appendix
TEZ ARC Appendix NISSAN iON MOTOR CORPORATI
Slide 22: Appendix: Sales Financing
NDIX: SALES FINANCING a tHe/\Rc Sales Financing HO BH FY23.Q1 BW FY24 1 (Billion Yen) Net Credit Net Revenue Operating Profit Total Assets Penetration Loss Ratio 94.2 11,014.2 9950 319.3 75.0 9,892.5 50% 49% 0.54% = 0.30% = Funding Sources (as of Jun. 2024) Total Funding Amount: 10,213 Billion Yen P
Slide 23: Appendix: Sales Financing Penetration
PENDIX: SALES FINANCING _— tHe/\Rc Penetration THE/. ARC ™ Lease M Retail DNFL (Lease) NFS NMAC NCF NRFM DNAF (Retail) [_ |; = | 27% om 3% 27% 33% 50% ° 6% 4% _ 8% 3% FY23 FY24 FY23 FY24 FY23 FY24 FY23 FY24 FY23 FY24 ai ai ai ai ai ai ai ai ai ai NES: Nissan Financial Services, sales finance company
Slide 24: Appendix: Net Credit Loss Ratio
APPENDIX: SALES FINANCING Net Credit Loss Ratio tHe/\Re Nissan Busrress lan FY23 Q1 FY24Q1 Variance NISSAN MOTOR CORPORATION NFS NMAC NCF DNFL/DNAF Lease Retail Total Lease Retail Total Lease Retail Total Lease Retail Total 0.01% 0,06% 0.05% -0.16% 039% 0.18% -0.01% 0.04% 0.02% 1.10% 0.68% 0.73% 0.0
Slide 25: Appendix: Sales Financing Operating Profit & Asset
APPENDIX: SALES FINANCING - tHe/\Rc Operating Profit & Asset Te ea NFS NMAC NCF NRFM DNFL/DNAF (Billion JPY) (Million USD) (Million CAD) (Million MXN) (Million CNY) Asset OP Asset oP Asset oP Asset OP Asset oP FY23 Q1 1,370.2 86 39,482 376 6,693 55 89,942 1,263 53,998 666 FY24Q1 1,406.8 97 40,604 22
Slide 26: Appendix: TIV and Retail Sales
PPENDIX: TIV AND RETAIL SALES » tHe/\Rc FY24 Q1 Sales Performance THE/. RC TIV (Million units) Retail Volume (Thousand units) -0.2% vs. FY23 789 —> 787 vs. FY23 China +5.9% Japan -8.0% Japan -6.8% merce ¢1.0%8 ws) 8%) North 1.7% Excluding America (3.1%) Excluding Europe +7.5% China: (us) China: (Exc
Slide 27: Appendix: Consolidated Sales Volume
APPENDIX N FY24 Q1 Consolidated Sales Volume Wants (Thousand units) vs. FY23 Japan -14.8% North +2.6% America Europe -11.4% Asia -18.5% Others -1.8% NISSAN 27 MOTOR CORPORATION
Slide 28: Appendix: Operating Profit Variance, Forex
APPENDIX Operating Profit Variance Analysis Forex Currency Rate | “Rate “aan USD 1375 155.9 46.7 CAD 102.4 113.9 11.1 AUD 91.9 102.7 46 GBP 172.1 196.8 3.5 EUR 149.6 1679 -3.4 THB 40 42 -3.6 TRY 6.6 48 -7A CNY 19.3 20.6 -79 ARS 06 02 -9.6 MXN 78 91 -10.7 Others - - 01 Total -- -- 23.7 NISSAN 928 MOT
Slide 29: Appendix: Operating Profit Variance, Sales Performance
APPENDIX tHe/\Re Operating Profit Variance Analysis Sales Performance (Billion Yen) FY24 Q1 Volume’! Mix Incentives’? Total x Japan -3.2 +0.9 +11 -1.2 = US “177 -20.8 +142 “24,4 oO E Europe -10.6 -2.2 +5.2 -77 3 MEX/CAN +118 “8.4 -05 +28 Others -2.9 5.4 +39 “4.4 Total -29.6 -36.0 +2938 -34.9 Incenti
Slide 30: Appendix: Automotive Free Cash Flow
APPENDIX 7 tHe/\Rc Automotive Free Cash Flow Nt or (Billion Yen) Ql Net Cash Inflow From P&L Items +754 AP/AR -98.5 Inventory -479 Working Capital -146.4 Tax/Other Operating Activities -121.1 Cash Flow From Operating Activities -192.1 CAPEX® -122.6 Others +119 Automotive Free Cash Flow -302.8 Qi FY2
Slide 31: Appendix: FY2024 Outlook Operating Profit Variance
APPENDIX: FY2024 OUTLOOK Operating Profit Variance Analysis FY24 Revised Outlook vs. FY23 Actual (Billion Yen) +160.0 +20.0 -90.0 +60.0 -100.0 568.7 a -118.7 500.0 FY23 Raw Sales Monozukuri A FY24 Actual Forex Materials Performance Cost Inflation Others Revised Outlook BREAKDOWN Volume/Mix — -20.0/M
Slide 32: Appendix: Inventory Status
APPENDIX tHe/\Re Inventory Status (Excluding China JV) Nine ll Dealer inventory (except some minor countries) Consolidated Nissan inventory (except some minor countries) (Thousand units) 800 630 | 640 600 a | | 540 | » 470 390 ee Lt a ee ee ee FY19 Q4 FY20 Q4 FY21 Q4 FY22 Q4 FY23 Q1 FY23 Q2 FY23 Q3
Slide 33: Appendix: Net Cash by Business Segment
APPENDIX A tHe/\Rc Net Cash by Business Segment Nt or (Billion Yen) AS OF MARCH 31, 2024 AS OF JUNE 30, 2024 Automobile & Sales Automobile & Sales Eliminations Financing Total Eliminations Financing Total Borrowings From Third Parties 2,028.3 5,783.1 7811.4 2,033.7 6,175.2 8,209.0 Internal Loan to S
Slide 34: tHe/\Re
tHe/\Re Nissan Busrress lan This presentation contains forward-looking statements, based on judgments and estimates that have been made on the basis of currently available information. By nature, such statements are subject to uncertainty and risk. Therefore, you are advised that the final results m