Mazda Motor Corp. · TSE:7261
Mazda Motor — Q3 FY March 2022 Earnings Presentation
36 slides from Mazda Motor's earnings presentation, Feb 10, 2022
Slide 1: Fiscal Year March 2022 Third Quarter Financial Results
FISCAL YEAR MARCH 2022 THIRD QUARTER FINANCIAL RESULTS
Slide 2: Presentation Outline
Presentation Outline Fiscal Year March 2022 Nine Month Results Fiscal Year March 2022 Full Year Forecast Financial Results Summary 2
Slide 3: Fiscal Year March 2022 Nine Month Results
Fiscal Year March 2022 Nine Month Results 3
Slide 4: Nine Month Global Sales Volume
FY March 2022 Nine Month Global Sales Volume Change from FY March FY March 2022 Prior Year 2020 (Thousand units) 1st 3rd Nine 1st 3rd Nine Nine Global sales volume Half Quarter Month Half Quarter Month Month Japan 60 35 94 -14 -5 -19 -44 North America 249 84 332 +64 -24 +40 +27 Europe 106 40 147 +25
Slide 5: Nine Month Financial Metrics
FY March 2022 Nine Month Financial Metrics Change from FY March FY March 2022 Prior Year 2020 1st 3rd Nine 1st 3rd Nine Nine (Billion Yen) Half Quarter Month Half Quarter Month Month Net sales 1,495.9 666.5 2,162.4 +380.1 -177.2 +202.9 -393.9 Operating profit 39.7 24.0 63.7 +92.6 +3.1 +95.7 +31.4 Or
Slide 6: Third Quarter vs. Third Quarter: Deterioration and Improvement Factors
FY March 2022 Third Quarter vs. FY March 2021 Third Quarter Deterioration and Improvement Factors (Billion Yen) Deterioration Strengthening of Profit by -¥67.9 billion Structure due to external by +¥51.1 billion FY March environment 2022 FY March FY March 2022 3Q Decrease in (After transfer to 2021
Slide 7: Nine Month Operating Profit Change
FY March 2022 Nine Month Operating Profit Change （vs FY March 2021 Nine Month） (Billion Yen) Includes impact of hikes · Increase in wholesales in raw material prices volume by +23,000 units and semiconductor costs FY March · Effects of improved per-unit of approx. -¥60.0 billion FY March 2022 profit
Slide 8: Fiscal Year March 2022 Full Year Forecast
Fiscal Year March 2022 Full Year Forecast 8
Slide 9: Global Sales Volume
FY March 2022 Global Sales Volume Change from Prior FY March Nov. FY March 2022 Year 2020 Forecast (Thousand units) 1st Half 2nd Half Full Year Full Year Full Year Full Year Global sales volume Japan 60 97 156 -20 -46 -12 North America 249 176 425 +21 +28 -13 Europe 106 84 190 +12 -73 -3 China 89 87
Slide 10: Financial Metrics
FY March 2022 Financial Metrics Change from Prior FY March Nov. FY March 2022 Year 2020 Forecast (Billion Yen) 1st Half 2nd Half Full Year Full Year Full Year Full Year Net sales 1,495.9 1,604.1 3,100.0 +217.9 -330.3 -100.0 Operating profit 39.7 42.3 82.0 +73.2 +38.4 +17.0 Ordinary profit 33.9 45.1
Slide 11: Full Year Operating Profit Change
FY March 2022 Full Year Operating Profit Change （vs FY March 2021 Full Year） (Billion Yen) Includes impact of hikes in raw material prices · Decrease in wholesales and semiconductor costs · Continued fixed cost reduction volume by -10,000 units of approx. -¥95.0 billion and efficiency improvement su
Slide 12: Full Year vs. November Forecast
FY March 2022 Full Year vs. November Forecast Deterioration and Improvement Factors (Billion Yen) Deterioration by -¥6.6 billion Strengthening of Profit due to external Structure environment by +¥14.6 billion Feb. Feb. Forecast Forecast (After transfer to Nov. (Before transfer to extraordinary loss)
Slide 13: Full Year vs. FY March 2020 Full Year
FY March 2022 Full Year vs. FY March 2020 Full Year Deterioration and Improvement Factors Deterioration (Billion Yen) Strengthening of Profit FY March FY March by -¥232.8 billion Structure 2022 2022 due to external by +¥231.6 billion (Before transfer (After transfer to environment Fixed cost, to ext
Slide 14: Financial Results Summary
Financial Results Summary 14
Slide 15: Financial Results Summary
Financial Results Summary Full-year operating profit forecast is revised upward to ¥82 billion Operating return on sales: 2.6％ Strengthened our earnings structure and maintained a sound financial position - Sales: Improved the efficiency of sales promotion costs by incentive reduction and residual
Slide 16: Improvement of Variable Marketing Costs
Improvement of Variable Marketing Costs Residual value improvement and Residual Value (%) trade cycle reinforcement Network reform and margin policy Thorough dealer training USA 米国 Canada カナダ Lean inventory management CY18 CY19 CY20 CY21 今回見込み Variable Marketing Cost per Revenue (%: Average
Slide 17: Improvement of Per-unit Revenue
Improvement of Per-unit Revenue Improvement of sales mix of crossover models and high grade models Gradual price increase for individual carlines Revenue per Unit (mil Yen) Japan (K USD) USA (K EUR) Europe (K AUD) Australia 3.2 36 33 36 3.0 34 31 34 2.8 32 28 32 2.7 30 26 30 2.5 28 23 28 2.4 26
Slide 18: New Product Launch
New Product Launch CX-50 — North American Cross-Over SUV • Incorporates North American consumer needs for outdoor-oriented design, functionality, and utility • Started production in January at new US plant MAZDA CX-50 CX-60 — First Large Product Group Vehicle • Delivers a high degree of driving
Slide 19: Mazda Motor Corporation
MAZDA MOTOR CORPORATION 19
Slide 20: Appendix
Appendix MAZDA MOTOR CORPORATION 20
Slide 21: Japan
Japan 94,000 units sold, down 17% year on year Market share declined 0.4 points year on year to 3.1%, and registered vehicle market share decreased 0.5 points to Nine Month Sales Volume & 3.9% Market Share 3.5% Sales volume declined from the (Thousand units) 3.1% prior year due to impact of 11
Slide 22: North America
North America 332,000 units sold, up 14% year on year USA: 249,000 units sold, up 18% year on year - Market share rose 0.3 points year on year to 2.2% - Achieved record high sales and market MAZDA CX-50 share for the first nine months since 1995 - Sales of CX-5, CX-9 and CX-30 remained Nine Mont
Slide 23: Europe
Europe 147,000 units sold, up 8% year on year Market share increased 0.1 points to 1.2% Sales of CX-30 have been strong Nine Month Sales Volume & Market Share Sales in countries such as UK and 1.2% Russia increased year on year (Thousand units) 1.1% +8% 147 135 21 Germany: 31,000 units, do
Slide 24: China
China 134,000 units sold, down 25% year on year Market share declined 0.1 points to 0.7% Sales of models such as CX-4, Nine Month Sales Volume & Market Share CX-5, and Mazda6 declined 0.8% year on year 0.7% (Thousand units) 178 -25% Mazda3 maintained solid sales 134 of 69,000 units, accounti
Slide 25: Other Markets
Other Markets 222,000 units sold, up 5% year on year Australia: 74,000 units, up 13% year on year ⁃ Market share declined 0.1 points year on year to 9.3% ⁃ Sales volume increased. Notably, CX-30, CX-5, and BT-50 Nine Month Sales Volume & continuing to have strong sales Australia Market Share 9.5
Slide 26: Net Sales by Geographic Area
Net Sales by Geographic Area (Billion Yen) 922.6 843.7 164.4 803.4 739.1 154.4 148.6 692.5 666.5 118.3 145.7 117.2 151.3 127.8 123.5 153.5 126.9 111.4 309.0 376.7 283.3 326.4 Other 60.0 303.4 277.3 234.0 Europe 69.6 North 109.2 America 303.5 214.0 211.6 197.9 193.3 Japan 137.9 171.1 1Q 2Q 3Q 4Q 1Q 2
Slide 27: 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 61.4 692.5 65.0 66.7 666.5 58.9 59.7 58.3 59.8 68.0 376.7 789.4 Other 51.0 721.4 681.2 Parts 43.4 615.2 573.0 540.2 Vehicles / Parts for 282.3 Overseas Production 1Q 2Q 3Q 4Q 1Q 2Q 3Q FY March 2021 FY March 2022 27
Slide 28: Net Sales Change (9 Months)
Net Sales Change (9 Months) FY March 2022 Nine Month vs. FY March 2021 Nine Month (Billion Yen) 30% FY March 2022 2,162.4 FY March 2021 1,959.5 25% 20% Domestic 0% 15% Overseas +6% +10% 10% +5% +5% 5% 0% Total Volume & Mix Foreign Exchange -5% 28
Slide 29: Net Sales Change (3 Months)
Net Sales Change (3 Months) FY March 2022 Third Quarter vs. FY March 2021 Third Quarter (Billion Yen) FY March 2022 666.5 20% FY March 2021 843.7 Domestic -1% Overseas -26% 10% +6% 0% -10% -20% -21% -30% -27% Total Volume & Mix Foreign Exchange 29
Slide 30: Financial Metrics (3 Months)
FY March 2022 Financial Metrics (3 Months) Third Quarter FY March FY March Change from (Billion Yen) 2021 2022 Prior Year Net sales 843.7 666.5 -177.2 -21% Operating profit 20.9 24.0 +3.1 +15% Ordinary profit 22.1 25.7 +3.6 +16% Profit before tax 20.7 15.0 -5.7 -27% Net income 14.8 5.5 -9.3 -62% Ope
Slide 31: Cash Flow and Net Cash
Cash Flow and Net Cash FY March 2021 FY March 2022 Change from (Billion Yen) Full Year Nine Month Prior FY End Cash Flow - From Operating activities 120.1 -11.7 - - From Investing activities -78.9 -90.1 - - Free Cash Flow 41.2 -101.7 - Cash and Cash Equivalents 738.8 767.9 +29.1 Interest-bearing Deb
Slide 32: Consolidated Wholesales
FY March 2022 Consolidated Wholesales Change from Prior Nov. (Thousand units) FY March 2022 Year Forecast Consolidated 1st 3rd 4th 2nd Full Full Full Wholesales Half Quarter Quarter Half Year Year Year Japan 69 35 52 87 156 -10 -6 North America 190 75 107 182 372 -2 -27 Europe 90 32 50 82 173 +1 0 O
Slide 33: Exchange Rate
Exchange Rate Change from Nov. FY March 2022 Piror Year Forecast 1st 2nd Full 1st 2nd Full Full (Yen) Half Half Year Half Half Year Year US Dollar 110 113 111 +3 +8 +5 0 Euro 131 131 131 +10 +4 +7 0 Canadian Dollar 88 90 89 +10 +8 +9 0 Australian Dollar 83 82 83 +9 +3 +6 0 British Pound 152 153 153
Slide 34: Key Data
Key Data (Billion Yen) 147.0 140.0 127.4 Full 93.0 91.0 89.8 Year 103.7 103.8 93.0 67.5 65.8 Nine Month 54.6 FY March 2021 2022 2021 2022 2021 2022 Capital Depreciation R&D Cost Expenditure Cost 34
Slide 35: 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 36: 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