Tata Motors Limited · NSE:TMCV
Tata Motors — Q1 FY15 Earnings Presentation
22 slides from Tata Motors's earnings presentation, Aug 15, 2014
Slide 1: Interim Report Three Months Ended 30 June 2014
JAGUAR LAND ROVER JAGUAR LAND ROVER AUTOMOTIVE PLC INTERIM REPORT THREE MONTHS ENDED 30 JUNE 2014 Contents Management’s discussion and analysis of financial condition and results of operations General trends in performance (including results of operations) Performance in key geographical markets on
Slide 2: Jaguar Land Rover results for the quarter ended 30 June 2014
Jaguar Land Rover results for the quarter ended 30 June 2014 11 August 2014
Slide 3: Disclaimer
Disclaimer JAGUAR LAND ROVER Statements in this presentation describing the objectives, projections, estimates and expectations of Jaguar Land Rover Automotive plc and its direct and indirect subsidiaries (the “Company”, “Group” or “JLR”) may be “forward-looking statements” within the meaning of app
Slide 4: Participants
Participants Jaguar Land Rover Kenneth Gregor CFO Jaguar Land Rover Bennett Birgbauer Treasurer Jaguar Land Rover C. Ramakrishnan CFO Tata Motors 3
Slide 5: Agenda
Agenda JAGUAR LAND ROVER Key topics Page Financial performance 5 Other developments 14 Closing Q&A 17 4
Slide 6: Q1 FY15 financial highlights
Q1 FY15 financial highlights Strong sales, revenue and profits JAGUAR LAND ROVER Retail volumes 115,596 for the quarter, up 22% from prior year, with Jaguar up 12% and Land Rover up 24% Revenue £5.4bn, up £1.3bn on the prior year EBITDA £1,087m, up £440m with EBITDA margin of 20.3%, up 4.5ppt from Q
Slide 7: Key financial metrics
Key financial metrics JAGUAR LAND ROVER Key metrics - IFRS Quarter ended 30 June (£ millions, unless stated) 2014 2013 Change Retail volumes (‘000 units) 115.6 94.8 20.8 Wholesale volumes (‘000 units) 115.2 90.6 24.6 Revenues 5,353 4,097 1,256 EBITDA (1) 1,087 647 440 EBITDA % 20.3% 15.8% 4.5 ppt Pr
Slide 8: Solid overall performance
Solid overall performance JAGUAR LAND ROVER Land Rover retail volume up 18.8k units (24%) – driven by Range Rover, Range Rover Sport, Evoque and Freelander Jaguar retail volume up 2.0k units (12%) – reflects the introduction of the new F-TYPE EBITDA of £1,087m (margin of 20.3%), up £440m (up 4.5ppt)
Slide 9: Quarterly retail volumes by carline
Quarterly retail volumes by carline Total retail sales of 115.6k up 22% overall JAGUAR LAND ROVER Jaguar – Q1 FY15 vs Q1 FY14 Up 12% 17.5 19.6 0.8 0.9 2.0 3.3 4.5 4.4 10.2 10.9 F-TYPE XK XJ XF Q1 FY14 Q1 FY15 Land Rover – Q1 FY15 vs Q1 FY14 Up 24% 96.0 12.7 77.3 20.6 11.1 11.4 32.2 27.0 10.3 11.2 13
Slide 10: Quarterly retail volumes by geography
Quarterly retail volumes by geography JAGUAR LAND ROVER UK Up 15% 16.4 18.9 12.7 14.5 3.7 4.3 Q1 FY14 Q1 FY15 North America Up 14% 16.2 18.5 11.6 14.5 4.6 4.0 Q1 FY14 Q1 FY15 China Up 61% 20.4 32.9 16.6 27.0 3.8 5.9 Q1 FY14 Q1 FY15 Q1 FY15 All Other Markets (ROW) 14.0% UK 16.3% North America 16.0% C
Slide 11: Income statement
Income statement JAGUAR LAND ROVER Consolidated income statement - IFRS Quarter ended 30 June (£ millions, unless stated) 2014 2013 Change Revenues 5,353 4,097 1,256 Material cost of sales (3,299) (2,490) (809) Employee costs (429) (361) (68) Other (expense) / income (1) (811) (841) 30 Product devel
Slide 12: Strong cash flow to support investment
Strong cash flow to support investment JAGUAR LAND ROVER Consolidated cash flow - IFRS Quarter ended 30 June (£ millions, unless stated) 2014 2013 Change EBITDA 1,087 647 440 Working capital changes (377) (315) (62) Tax paid (101) (197) 96 Other 11 (19) 30 Cash flow from operations 620 116 504 Inves
Slide 13: Solid financing structure
Solid financing structure JAGUAR LAND ROVER Key financial indicators - IFRS Quarter ended 30 June (£ millions, unless stated) 2014 2013 Change Cash and cash equivalents 1,868 1,405 463 Financial deposits 1,433 810 623 Cash and financial deposits 3,301 2,215 1,086 Long term undrawn credit facilities
Slide 14: Agenda
Agenda JAGUAR LAND ROVER Key topics Page Financial performance 5 Other developments 14 Closing Q&A 17 13
Slide 15: Exciting new products
Exciting new products JAGUAR LAND ROVER Jaguar XE The world premiere of the all-new Jaguar XE will be held in London on September 8th New Jaguar XE will go on sale in 2015 and feature a new technology package designed for optimum performance, comfort and control F-TYPE Project 7 Jaguar’s fastest pro
Slide 16: Summary
Summary JAGUAR LAND ROVER Very strong performance in Q1 FY15 For the remainder of 2014/15 fiscal year, continue to: - build on the sales momentum of the two brands - prepare for launch of the new Discovery Sport, Jaguar XE, Ingenium family of 2.0 litre engines in new engine plant and new China JV ma
Slide 17: Agenda
Agenda JAGUAR LAND ROVER Key topics Page Financial performance 5 Looking ahead / other developments 15 Closing Q&A 17 16
Slide 18: Q&A
Q&A 11 August 2014
Slide 19: Additional slides
Additional slides 11 August 2014
Slide 20: Quarterly wholesale volumes by carline
Quarterly Wholesale volumes by carline Wholesales of 115.2k up 27% overall Jaguar – Q1 FY15 vs Q1 FY14 Up 5% 18.6 19.6 0.7 1.2 3.2 3.8 4.8 4.3 10.0 10.3 F-TYPE XK XJ XF Land Rover – Q1 FY15 vs Q1 FY14 Up 33% 72.0 10.3 6.7 27.0 11.2 13.4 3.4 95.6 13.8 19.6 31.6 10.2 16.3 4.0 Q1 FY14 Q1 FY15 Range Rov
Slide 21: Quarterly wholesale volumes by geography
Quarterly wholesale volumes by geography JAGUAR LAND ROVER UK Up 13% 16.3 12.2 4.1 QY FY14 18.3 14.2 4.1 QY FY15 North America Up to 23% 14.7 9.9 4.7 Q1 FY14 18.1 14.7 3.4 Q1 FY15 China Up to 77% 19.2 15.4 3.8 Q1 FY14 34.0 27.2 6.8 Q1 FY15 Q1 FY15 All Other Markets (ROW) 15.9% UK 15.7% North America
Slide 22: Product and other investment
Product and other investment JAGUAR LAND ROVER Key financial indicators - IFRS Quarter ended 30 June (£ millions, unless stated) 2014 2013 Change R&D expense Capitalised 273 242 31 Expensed 53 50 3 Total R&D expense 326 292 34 Investment in tangible and other intangible assets (1) 356 266 90 Total p