Tata Motors Limited · NSE:TMCV
Tata Motors — Q2 FY15 Earnings Presentation
27 slides from Tata Motors's earnings presentation, Nov 17, 2014
Slide 1: Jaguar Land Rover Automotive plc Interim Report, three and six months ended 30 September 2014
JAGUAR LAND ROVER JAGUAR LAND ROVER AUTOMOTIVE PLC INTERIM REPORT THREE AND SIX MONTHS ENDED 30 SEPTEMBER 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 geographica
Slide 2: Jaguar Land Rover results for the quarter ended September 2014
Jaguar Land Rover results for the quarter ended 30 September 2014 14 November 2014
Slide 3: Disclaimer
JAGUAR LAND ROVER Disclaimer 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 C. Ramakrishnan CFO Jaguar Land Rover CFO Tata Motors Bennett Birgbauer Treasurer Jaguar Land Rover 3
Slide 5: Agenda
Agenda JAGUAR LAND ROVER Key topics Page Financial performance 5 Other developments 14 Closing Q&A 18 4
Slide 6: Q2 FY15 financial highlights
Q2 FY15 financial highlights Strong sales, revenue and profits JAGUAR LAND ROVER Retail volumes 110,781 for the quarter, up 8% from prior year, with Land Rover up 10% and Jaguar down 2% Revenue £4.8bn, up £0.2bn on the prior year EBITDA £933m, up £124m with EBITDA margin of 19.4%, up 1.9ppt from Q2
Slide 7: Key financial metrics
Key financial metrics JAGUAR LAND ROVER Key metrics - IFRS Quarter ended 30 September 6 months ended 30 September (£ millions, unless stated) 2014 2013 Change 2014 2013 Change Retail volumes (‘000 units) 110.8 102.6 8.2 226.4 197.4 29.0 Wholesale volumes (‘000 units) 104.0 101.9 2.0 219.2 192.6 26.6
Slide 8: Solid overall performance for the quarter
Solid overall performance for the quarter JAGUAR LAND ROVER Land Rover retail volume of 91.1.k units, up 8.5k units (10%) vs prior year - driven by Range Rover and Range Rover Sport Jaguar retail volume of 19.7k, down 0.3k units (2%) - lower XF and XJ sales partially offset by F-Type EBITDA of £933m
Slide 9: Quarterly retail volumes by carline
Quarterly retail volumes by carline Total retail sales of 110.8k up 8% overall JAGUAR LAND ROVER Jaguar - Q2 FY15 vs Q2 FY14 Down (2)% 20.0 19.7 0.7 0.9 2.6 3.2 5.1 4.4 11.6 11.2 Q2FY14 Q2FY15 F-TYPE XK XJ XF Units in ‘000 Land Rover - Q2 FY15 vs Q2 FY14 Up 10% 82.6 9.7 11.7 30.8 12.3 14.2 3.9 91.1
Slide 10: Quarterly retail volumes by geography
Quarterly retail volumes by geography Total retail sales of 110.8k up 8% overall JAGUAR LAND ROVER UK Up 10% 20.2 15.6 4.6 22.2 17.4 4.8 Q2FY14 Q2FY15 North America Down (5)% 18.6 13.6 5.0 13.7 17.6 3.9 Q2FY14 Q2FY15 China Up 22% 29.8 24.4 24.1 5.7 19.8 4.6 Q2FY14 Q2FY15 Q2 FY15 UK 20.0% All Other M
Slide 11: Income statement
Income statement JAGUAR LAND ROVER Consolidated income statement - IFRS Quarter ended 30 September 6 months ended 30 September (£ millions, unless stated) 2014 2013 Change 2014 2013 Change Revenues 4,808 4,612 196 10,161 8,709 1,452 Material cost of sales (2,904) (2,827) (77) (6,203) (5,317) (886) E
Slide 12: Strong cash flow to support investment
JAGUAR LAND ROVER Strong cash flow to support investment Consolidated cash flow - IFRS Quarter ended 30 September 6 months ended 30 September (£ millions, unless stated) 2014 2013 Change 2014 2013 Change EBITDA 933 809 124 2,020 1,456 564 Working capital changes 348 241 107 (29) (74) 45 Tax paid (71
Slide 13: Solid financing structure
JAGUAR LAND ROVER Solid financing structure Key financial indicators - IFRS (£ millions, unless stated) September 2014 September 2013 Change Cash and cash equivalents 2,263 2,029 234 Financial deposits 1,490 670 820 Cash and financial deposits 3,753 2,699 1,054 Long term undrawn credit facilities 1,
Slide 14: Agenda
JAGUAR LAND ROVER Agenda Key topics Financial performance Other developments Closing Q&A Page 5 14 18 13
Slide 15: Exciting new products
JAGUAR LAND ROVER Exciting new products Jaguar XE Jaguar’s all-new mid-sized premium sports saloon, the Jaguar XE, made its debut at the Paris Motor Show in early October and will go on sale in 2015. The XE will be built in a second assembly hall in Solihull. Discovery Sport Showcased at the Paris M
Slide 16: Other developments
JAGUAR LAND ROVER Other developments China JV Production facility JV plant in Changshu opened 21 October, will initially produce Range Rover Evoque for sale commencing early 2015. Production capacity of 130,000 units expected by 2016. Engine Manufacturing Centre (EMC) Production of the new “Ingenium
Slide 17: Summary
JAGUAR LAND ROVER Summary Strong performance in Q2 FY15 For the remainder of 2014/15 fiscal year, continue to build on the sales momentum of the two brands successfully launch the new Discovery Sport and the new Jaguar XE as well as the new Ingenium family of 2.0 Litre engines. successfully launch t
Slide 18: Agenda
JAGUAR LAND ROVER Agenda Key topics Financial performance Other developments Closing Q&A Page 5 14 18 17
Slide 19: Q&A
Q&A
Slide 20: Additional slides
Additional slides
Slide 21: Quarterly wholesale volumes by carline
Quarterly wholesale volumes by carline Wholesales of 104.0k up 2% overall JAGUAR LAND ROVER Jaguar - Q2 FY15 vs Q2 FY14 0.7 18.8 3.3 4.1 10.7 Q2FY14 Down (6)% 17.8 0.6 2.7 3.9 10.6 Q2FY15 F-TYPE XK XJ XF Land Rover - Q2 FY15 vs Q2 FY14 83.1 9.5 13.8 29.7 12.4 13.3 4.3 Q2FY14 Up 13% 86.2 13.1 18.0 27
Slide 22: Quarterly wholesale volumes by geography
JAGUAR LAND ROVER Quarterly wholesale volumes by geography Wholesales of 104.0k up 2% overall UK Up 14% 21.2 18.6 16.8 13.9 4.6 4.4 Q2FY14 Q2FY15 North America Down (5)% 16.3 15.4 12.4 12.7 3.9 2.7 Q2FY14 Q2FY15 China Up 6% 28.0 26.5 22.5 21.9 4.7 5.5 Q2FY14 Q2FY15 Q2 FY15 All Other Markets (ROW) 15
Slide 23: Six month retail volumes by carline
JAGUAR LAND ROVER 6 month retail volumes by carline Total retail sales of 226.4k up 15% overall Jaguar - 6 months FY15 vs 6 months FY14 37.5 1.6 4.5 9.6 21.8 YTD FY14 Up 5 % 39.2 1.8 6.5 8.8 22.1 YTD FY15 F-TYPE XK XJ XF Units in ‘000 Land Rover - 6 months FY15 vs 6 months FY14 159.9 20.8 23.1 57.8
Slide 24: Six month retail volumes by geography
JAGUAR LAND ROVER 6 month retail volumes by geography Total retail sales of 226.4k up 15% overall UK Up 12% 41.0 36.6 31.9 28.3 8.3 9.1 YTD FY14 YTD FY15 226.4k units North America Up 4% 36.2 34.8 25.2 28.3 9.6 7.9 YTD FY14 YTD FY15 China Up 40% 62.7 44.8 51.1 36.4 8.4 11.6 YTD FY14 YTD FY15 6 month
Slide 25: Six month wholesale volumes by carline
6 month wholesale volumes by carline Total wholesales of 219.2k up 14% overall JAGUAR LAND ROVER Jaguar - 6 months FY15 vs 6 months FY14 37.4 1.3 6.5 8.9 20.7 YTD FY14 Flat - % 37.4 1.8 6.5 8.3 20.8 YTD FY15 F-TYPE XK XJ XF Units in ‘000 Land Rover - 6 months FY15 vs 6 months FY14 155.1 19.8 20.5 56
Slide 26: Six month wholesale volumes by geography
6 month wholesale volumes by geography Total wholesales of 219.2k up 14% overall JAGUAR LAND ROVER UK Up 13% 39.5 34.8 31.0 26.1 8.7 8.5 YTD FY14 YTD FY15 North America Up 8% 33.5 31.0 22.3 27.3 8.7 6.2 YTD FY14 YTD FY15 China Up 36% 62.1 45.8 49.8 37.3 8.5 12.3 YTD FY14 YTD FY15 6 month FY15 Asia P
Slide 27: Product and other investment
Product and other investment JAGUAR LAND ROVER Key financial indicators - IFRS Quarter ended 30 September 6 months ended 30 September (£ millions, unless stated) 2014 2013 Change 2014 2013 Change R&D expense Capitalised 274 259 15 547 501 46 Expensed 62 62 - 115 112 3 Total R&D expense 336 321 15 66