Mazda Motor Corp. · TSE:7261
Mazda Motor — Q1 FY March 2023 Earnings Presentation
31 slides from Mazda Motor's earnings presentation, Aug 9, 2022
Slide 1: Fiscal Year March 2023 First Quarter Financial Results
FISCAL YEAR MARCH 2023 FIRST QUARTER FINANCIAL RESULTS August 9, 2022 Mazda Motor Corporation M A Z DA M OTO R CO R PO RAT I O N
Slide 2: Presentation Outline
PRESENTATION OUTLINE ◼ FY March 2023 First Quarter Results ◼ First Quarter Highlights ◼ Summary M A Z DA M OTO R CO R P ORAT I ON 2
Slide 3: FY March 2023 First Quarter Results
FY MARCH 2023 FIRST QUARTER RESULTS M A Z DA M OTO R CO R P ORAT I ON 3
Slide 4: FY March 2023 First Quarter Volume Results
FY MARCH 2023 FIRST QUARTER VOLUME RESULTS • Production volume reduced due to Shanghai’s Covid lockdown • Despite a temporary fall in retail/wholesale volume due to vehicle supply shortages, demand remained strong. A return to normal operation is expected from the second quarter (Thousand Units) FY
Slide 5: FY March 2023 First Quarter Financial Metrics
FY MARCH 2023 FIRST QUARTER FINANCIAL METRICS • Operating loss was ¥19.5 billion due largely to wholesale reductions • Net income was ¥15.0 billion due mainly to FX valuation gains (Billion Yen) FY March 2022 FY March 2023 Change First Quarter First Quarter First Quarter Net Sales 803.4 617.2 -186.2
Slide 6: Change in FY March 2023 First Quarter Operating Profit
CHANGE IN FY MARCH 2023 FIRST QUARTER OPERATING PROFIT (vs. FY March 2022 First Quarter) (Billion Yen) ·Wholesale reduction, deterioration in mix, etc. of approx. -¥68.0 billion ·Improvement in per-unit profit, reduction in marketing expenses, etc. of approx. +¥22.0 billion USD +7.3 EUR +3.0 ·Impact
Slide 7: Production Volume
PRODUCTION VOLUME FY March 2022 FY March 2023 Fourth Quarter First Quarter 283,000 units 209,000 units Production Shanghai lockdown Production has rebounded since June. volume 104 impact diminishes in 104 The impact of production cutbacks in 2 months 100 April and May will be offset. (Thousand units
Slide 8: FY March 2023 Full Year Forecast
FY MARCH 2023 FULL YEAR FORECAST • Business environment remains uncertain. Full-year forecast unchanged • Focus on recovery of production, wholesales, and retail volume from the second quarter (Billion Yen) FY March 2022 FY March 2023 Change Full Year Full Year Full Year Global Sales Volume (Thousan
Slide 9: First Quarter Highlights and Summary
FIRST QUARTER HIGHLIGHTS AND SUMMARY M A Z DA M OTO R CO R P ORAT I ON 9
Slide 10: CX-60 Rollout
CX-60 ROLLOUT ◼Cumulative order intake as of the end of July was 6,400 units in Japan and 11,600 units in Europe, resulting in order intake higher than planned ◼CX-60 attracts a different customer segment from CX-5 customers CX-60 Purchase price distribution (Japan) Purchase price distribution (Germ
Slide 11: Initiatives in US
INITIATIVES IN US Evolution of auto sales practices Before After ◼Shift from car sales based on dealer stock to car Sales from dealer stock Negotiation based on digital information sales negotiated using digital tools Production Dealer ①Referral ◼CX-50 is attracting new customers who are interested
Slide 12: Summary
SUMMARY ◼ Operating loss of ¥19.5 billion in the first quarter ◼ Main reason for operating loss was temporary wholesales reduction due to production suspension resulting from parts supply disruptions caused by Shanghai’s lockdown under its zero-Covid policy ◼ Secured net income of ¥15.0 billion due
Slide 13: Slide 13
Slide 14: Appendix
APPENDIX M A Z DA M OTO R CO R P ORAT I ON 14
Slide 15: Japan
JAPAN ◼ 25,000 units sold, down 10% year on year ◼ Market share rose 0.1 points year on year to 2.8%, and registered vehicle market share rose 0.2 points to 3.4% ◼ While number of orders exceeded the plan, sales volume declined from prior year due to vehicle First Quarter Sales Volume & Market Share
Slide 16: North America
NORTH AMERICA ◼ 79,000 units sold, down 42% year on year ◼ USA: 61,000 units, down 43% year on year - Market share declined 0.7 points year on year to 1.7% - Sales volume decreased year on year due to production reduction caused by parts supply disruptions MAZDA CX-50 - Vehicle prices revised from A
Slide 17: Europe
EUROPE ◼ 30,000 units sold, down 45% year on year ◼ Market share declined 0.4 points year on year to 0.8% ◼ Sales volume decreased year on year due to production reduction caused by parts supply MAZDA CX-60 disruptions First Quarter Sales Volume & Market Share ◼ CX-60, the first in the Large product
Slide 18: China
CHINA ◼ 24,000 units sold, down 50% year on year ◼ Market share declined 0.3 points year on year to 0.4% ◼ Sales volume decreased year on year due to production reduction caused by lockdown and restricted sales activities First Quarter Sales Volume & Market Share (Thousand Units) ◼ Sales volume bott
Slide 19: Other Markets
OTHER MARKETS ◼ 75,000 units sold, down 13% year on year ◼ Australia: 20,000 units, down 39% year on year ⁃ Market share declined 3.5 points year on year to 7.3% ⁃ Sales volume decreased year on year due to production reduction caused by parts supply First Quarter Sales Volume & disruptions Australi
Slide 20: Net Sales by Geographic Area
NET SALES BY GEOGRAHIC AREA (Billion Yen) 957.9 803.4 164.2 Other 148.6 692.5 666.5 147.6 617.2 117.2 127.8 Europe 153.5 110.8 126.9 111.4 87.2 392.0 North 303.4 America 277.3 234.0 253.4 254.1 Japan 197.9 171.1 193.3 165.8 1Q 2Q 3Q 4Q 1Q FY March 2022 FY March 2023 M A Z DA M OTO R CO R P ORAT I ON
Slide 21: Net Sales by Product
NET SALES BY PRODUCT (Billion Yen) 957.9 62.0 803.4 68.0 Other 55.5 692.5 Parts 66.7 666.5 59.7 617.2 58.3 59.8 53.0 68.0 70.4 Vehicles/Parts 827.9 for Overseas Production 681.2 573.0 540.2 493.8 1Q 2Q 3Q 4Q 1Q FY March 2022 FY March 2023 M A Z DA M OTO R CO R P ORAT I ON 21
Slide 22: Breakdown of Change in Net Sales
BREAKDOWN OF CHANGE IN NET SALES FY March 2023 First Quarter vs. FY March 2022 First Quarter 20% Domestic -4% (Billion Yen) Overseas -30% FY March 2023 617.2 +10% FY March 2022 803.4 0% -20% -23% -34% -40% Total Volume & Mix Exchange M A Z DA M OTO R CO R P ORAT I ON 22
Slide 23: Cash Flow and Net Cash
CASH FLOW AND NET CASH (Billion Yen) FY March 2022 FY March 2023 Change from Full Year First Quarter Prior FY End Cash Flow from Operating Activities 189.2 -132.5 - Cash Flow from Investing Activities -136.2 -32.3 - Free Cash Flow 52.9 -164.7 - Cash and Cash Equivalents 740.4 734.2 -6.2 Interest-bea
Slide 24: First Quarter Global Sales and Consolidated Wholesales
FY MARCH 2023 FIRST QUARTER GLOBAL SALES AND CONSOLIDATED WHOLESALES (Thousand Units) FY March 2022 FY March 2023 Change Global Sales Volume First Quarter First Quarter First Quarter Japan 28 25 -3 -10% North America 138 79 -58 -42% Europe 55 30 -25 -45% China 47 24 -23 -50% Other Markets 86 75 -11
Slide 25: Full Year Global Sales Volume and Consolidated Wholesales
FY MARCH 2023 FULL YEAR GLOBAL SALES VOLUME AND CONSOLIDATED WHOLESALES (Thousand Units) FY March 2022 FY March 2023 Change 対前年増減 Global Sales Volume Full Year Full Year Full Year 第4四半期 Japan 149 191 +42 +28% North America 439 483 +44 +10% Europe 190 190 0 0% China 170 170 0 0% Other Markets 303 316
Slide 26: Change in FY March 2023 Full Year Operating Profit
CHANGE IN FY MARCH 2023 FULL YEAR OPERATING PROFIT (vs FY MARCH 2022 FULL YEAR) (Billion Yen) ·Increase in wholesales volume by +189,000 units ·Marketing expense ·Increase in fixed costs related reductions, etc. Foreign to investment for growth in Exchange Cost areas such as Large products Improveme
Slide 27: Exchange Rate
EXCHANGE RATE (Yen) FY March 2022 FY March 2023 Change Full Year Full Year Full Year US Dollar 112 123 +11 Euro 131 133 +3 Canadian Dollar 90 97 +7 Australian Dollar 83 89 +6 British Pound 154 159 +5 M A Z DA M OTO R CO R P ORAT I ON 27
Slide 28: Key Data
KEY DATA (Billion Yen) Full Year 144.3 140.0 134.6 120.0 105.0 90.3 1Q 33.6 29.9 26.3 22.3 25.1 16.2 FY March 2022 2023 2022 2023 2022 2023 Capital Depreciation R&D Cost Expenditure Cost M A Z DA M OTO R CO R P ORAT I ON 28
Slide 29: Dividend Payment
DIVIDEND PAYMENT Dividends Per Share (Yen) Interim Dividends 35 35 35 35 35 Year-end Dividends 30 20 20 20 20 20 15 20 10 20 15 15 15 15 15 15 10 1 0 FY March 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Results Plan Note: A share consolidation was implemented on common stock with a ratio of fi
Slide 30: 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, trends in the automotive industry, and the risk of exchangerate fluctuations. Consequently, Mazda's actual pe
Slide 31: Slide 31