Mazda Motor Corp. · TSE:7261
Mazda Motor — FY March 2024 Earnings Presentation
35 slides from Mazda Motor's earnings presentation, May 10, 2024
Slide 1: Financial Results for Fiscal Year March 2024
FINANCIAL RESULTS FOR FISCAL YEAR MARCH 2024 May 10, 2024 Mazda Motor Corporation M A Z D A M O TO R C OR POR AT IO N
Slide 2: Presentation Outline
PRESENTATION OUTLINE ▪Financial Results Highlights ▪FY March 2024 Results ▪FY March 2025 Forecast ▪Summary M A Z D A M O TO R C O R POR ATI ON 2
Slide 3: Financial Results Highlights
FINANCIAL RESULTS HIGHLIGHTS M A Z D A M O TO R C O R POR ATI ON 3
Slide 4: Financial Results Highlights
FINANCIAL RESULTS HIGHLIGHTS ▪ FY March 2024 Results ⁃ Achieved year-on-year growth in both net sales and profits, and record high net sales, operating income and net income ⁃ Global sales increased from the prior year Sales in the U.S. and Mexico hit record high volumes* ⁃ In production, the utiliz
Slide 5: FY March 2024 Results
FY MARCH 2024 RESULTS M A Z D A M O TO R C O R POR ATI ON 5
Slide 6: FY March 2024 Volume Results
FY MARCH 2024 VOLUME RESULTS Change from (Thousand Units) FY March 2023 FY March 2024 Change from Prior Year Nov. Forecast Full Year Full Year Full Year Full Year Production Volume* 1,135 1,219 +84 +7% - Global Sales Volume Japan 165 160 -5 -3% -16 North America 407 514 +108 +26% -23 Europe 160 180
Slide 7: FY March 2024 Financial Metrics
FY MARCH 2024 FINANCIAL METRICS Change from Nov. (Billion Yen) FY March 2023 FY March 2024 Change from Prior Year Forecast Full Year Full Year Full Year Full Year Consolidated Wholesales (Thousand Units) 1,059 1,202 +142 +13% -18 Net Sales 3,826.8 4,827.7 +1,000.9 +26% +27.7 Operating Income 142.0 2
Slide 8: Difference in FY March 2024 Operating Income (vs. FY March 2023)
DIFFERENCE IN FY MARCH 2024 OPERATING INCOME (vs. FY MARCH 2023) Foreign Cost (Billion Yen) Raw Material, Improvement Fixed Costs, Exchange Volume & Logistics Costs, etc. +24.8 Other Mix +53.5 +125.2 -11.2 250.5 -83.8 142.0 FY March Change from Prior Year +108.5 FY March 2023 2024 Volume & Mix +125.
Slide 9: FY March 2025 Forecast
FY MARCH 2025 FORECAST M A Z D A M O TO R C O R POR ATI ON 9
Slide 10: Initiatives for Raising Top Line Results
INITIATIVES FOR RAISING TOP LINE RESULTS ▪ Increase sales with a full lineup of four Large products ▪ Introduce CX-50 hybrid model to meet demands for hybrid models and contribute to sales growth ▪ Supplement growth in North America by increasing supply from our plants in Alabama and Mexico MAZDA CX
Slide 11: Initiatives for Raising Top Line Results
INITIATIVES FOR RAISING TOP LINE RESULTS ▪ More than 300 new-generation stores were in operation in the U.S. as of March 2024. 70 more stores will be upgraded this fiscal year ▪ Throughput of new-generation stores is steadily improving. We challenge to raise the sales per outlet to more than 900 uni
Slide 12: FY March 2025 Volume Forecast
FY MARCH 2025 VOLUME FORECAST (Thousand Units) FY March 2024 FY March 2025 Change from Prior Year Full Year Full Year Full Year Global Sales Volume Japan 160 180 +20 +13% North America 514 600 +86 +17% Europe 180 183 +3 +2% China 97 98 +1 +1% Other Markets 289 339 +50 +17% Total 1,241 1,400 +159 +13
Slide 13: FY March 2025 Financial Metrics
FY MARCH 2025 FINANCIAL METRICS (Billion Yen) FY March 2024 FY March 2025 Change from Prior Year Full Year Full Year Full Year Consolidated Wholesales (Thousand Units) 1,202 1,300 +98 +8% Net Sales 4,827.7 5,350.0 +522.3 +11% Operating Income 250.5 270.0 +19.5 +8% Ordinary Income 320.1 220.0 -100.1
Slide 14: Difference in FY March 2025 Operating Income (vs. FY March 2024)
DIFFERENCE IN FY MARCH 2025 OPERATING INCOME (vs. FY MARCH 2024) Volume & (Billion Yen) Mix Foreign Cost Raw Material, +86.0 Exchange Improvement Logistics Costs, etc. Fixed Costs, +15.0 Other -10.0 270.0 250.5 -35.5 -36.0 FY March Change from Prior Year +19.5 FY March 2024 2025 Volume & Mix +86.0 F
Slide 15: Summary
SUMMARY M A Z D A M O TO R C O R POR ATI ON 15
Slide 16: Dividend Payment
DIVIDEND PAYMENT ▪ FY March 2024 year-end dividend is ¥30 per share, with an additional special dividend of ¥5 per share ▪ Ongoing trend in stable dividend growth. Full year dividend of ¥60 is Mazda’s highest ever ▪ Total shareholder return* better than TOPIX 60 5 Interim Dividend Year-end Dividend
Slide 17: Management Policy Up to 2030
MANAGEMENT POLICY UP TO 2030 PHASE 1 PHASE 2 PHASE 3 2022-2024 2025-2027 2028-2030 Enhanced Technology Transition to Full Scale Launch of BEVs Development for the Age Electrification of Electrification Key efforts in PHASE 1 ◼ Growth in North American market/top-line growth through Large products ◼
Slide 18: Growth in North American Market / Top-line Growth through Large Products
GROWTH IN NORTH AMERICAN MARKET / TOP-LINE GROWTH THROUGH LARGE PRODUCTS ▪ North America ⁃ Record high sales in the U.S. and Mexico last fiscal year, driven by strong sales of the CX-90 and the CX-50 produced at our Alabama plant ⁃ Aim to achieve sales of 600,000 units this fiscal year for the first
Slide 19: Progress Toward Electrification
PROGRESS TOWARD ELECTRIFICATION ▪ Launched Electrification Business Division (e-Mazda for short） ⁃ Accelerate the shift of resources to electrification business ⁃ Plan to introduce a BEV model based on Mazda’s first BEV- dedicated platform in 2027 ▪ Products leveraging multi-electrification technolo
Slide 20: Investment in People and Value Creation through Co-creation between People and IT
INVESTMENT IN PEOPLE AND VALUE CREATION THROUGH CO-CREATION BETWEEN PEOPLE AND IT ▪People are the key resource in successfully overcoming drastic changes in the transition to carbon neutrality and electrification BLUEPRINT Program ▪Launched a program called Blueprint as a company-wide initiative in
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Slide 22: Appendix
APPENDIX M A Z D A M O TO R C O R POR ATI ON 22
Slide 23: Production Volume
PRODUCTION VOLUME FY March 2023 FY March 2024 FY March 2024 FY March 2024 FY March 2024 Fourth Quarter First Quarter Second Quarter Third Quarter Fourth Quarter 326,000 units 284,000 units 309,000 units 335,000 units 292,000 units Average production 124 Due to fewer Due to fewer Due to fewer volume
Slide 24: Japan
JAPAN ▪160,000 units sold, down 3% year on year ▪Full-year sales volume was down from the prior year mainly due to increasing competition in SUV segment. Upgraded Roadster sales exceeded the sales plan Full Year Sales Volume & ▪Market share was down 0.3 points to 3.5% year Market Share on year. Regi
Slide 25: North America
NORTH AMERICA ▪USA: - 375,000 units sold, up 25% year on year, highest-ever sales - Market share was 2.4%, up 0.3 points year on year - CX-50 production increased with the addition of a second shift at the Alabama Plant and its sales rose 63% year on year to 51,000 units MAZDA CX-90 - CX-90 sales we
Slide 26: Europe
EUROPE ▪180,000 units sold, up 13% year on year. MAZDA CX-60 CX-60 and CX-30 contributed to sales volume growth ▪Market share was 1.1% on par with the prior year ▪CX-60 sales reached 27,000 units for the Full Year Sales Volume & full-year, up 7,000 units year on year. (Thousand Units) Market Share S
Slide 27: China
CHINA MAZDA CX-50 ▪97,000 units sold, up 15% year on year ▪Market share remained stable year on year at 0.3% ▪Newly launched CX-50 in addition to Mazda3 Full Year Sales Volume & and CX-5 contributed to the growth in sales Market Share (Thousand Units) volume 0.3% 0.3% 97 84 +15% ▪In April 2024, Mazd
Slide 28: Other Markets
OTHER MARKETS ▪289,000 units sold, down 2% year on year ▪Australia: ⁃ 98,000 units sold, up 8% year on year ⁃ Newly launched CX-60 as well as CX-3, CX-30, and BT-50 contributed to the growth in sales volume Full Year Sales Volume & (Thousand Units) Australia Market Share 8.4% ⁃ Market share declined
Slide 29: Cash Flow and Net Cash
CASH FLOW AND NET CASH Change from (Billion Yen) FY March 2023 FY March 2024 Prior FY End Full Year Full Year Full Year Cash Flow from Operating Activities 137.4 418.9 - Cash Flow from Investing Activities -99.4 -179.9 - Free Cash Flow 38.0 239.0 - Cash and Cash Equivalents 717.1 919.3 +202.2 Intere
Slide 30: FY March 2024 Fourth Quarter Volume Results
FY MARCH 2024 FOURTH QUARTER VOLUME RESULTS (Thousand Units) FY March 2023 FY March 2024 Change from Prior Year 4th Quarter 4th Quarter 4th Quarter Production Volume* 326 292 -35 -11% Global Sales Volume Japan 57 39 -18 -31% North America 119 134 +15 +13% Europe 52 46 -6 -12% China 12 24 +12 +97% Ot
Slide 31: FY March 2024 Fourth Quarter Financial Metrics
FY MARCH 2024 FOURTH QUARTER FINANCIAL METRICS (Billion Yen) FY March 2023 FY March 2024 Change from Prior Year 4th Quarter 4th Quarter 4th Quarter Consolidated Wholesales (Thousand Units) 322 313 -9 -3% Net Sales 1,130.5 1,261.2 +130.7 +12% Operating Income 32.5 50.3 +17.8 +55% Ordinary Income 50.5
Slide 32: Difference in FY March 2024 4th Quarter Operating Income
DIFFERENCE IN FY MARCH 2024 4th QUARTER OPERATING INCOME (vs. FY MARCH 2023 4th QUARTER) Cost Improvement Fixed Costs, (Billion Yen) Foreign Other Exchange Raw Material, +6.4 +24.2 Logistics Costs, etc. -0.4 50.3 Volume & Mix -18.1 +5.7 32.5 FY March FY March Change from Prior Year +17.8 2023 2024 V
Slide 33: Difference in FY March 2024 Operating Income (vs. November Forecast)
DIFFERENCE IN FY MARCH 2024 OPERATING INCOME (vs. NOVEMBER FORECAST) (Billion Yen) Raw Material, Logistics Costs, etc. Cost Foreign Fixed Costs, Improvement Exchange +26.2 Other Volume & 250.0 Mix +25.6 250.5 -7.6 -25.1 -18.6 November Results Change from November Forecast +0.5 Forecast M A Z D A M O
Slide 34: Exchange Rate
EXCHANGE RATE Change from (Yen) FY March 2024 FY March 2025 Prior Year Full Year Full Year Full Year US Dollar 145 143 -2 Euro 157 155 -2 Canadian Dollar 107 106 -1 Australian Dollar 95 94 -1 British Pound 182 181 -1 Thai Baht 4.11 4.00 -0.11 Mexican Peso 8.35 8.41 +0.06 M A Z D A M O TO R C O R POR
Slide 35: Disclaimer
DISCLAIMER The projections and future strategies shown in this presentation are based on various uncertainties including but not limited to conditions of the world economy in the future, trends in the automotive industry, and the risk of exchange rate fluctuations. Consequently, Mazda's actual perfo