Tata Motors Passenger Vehicles Ltd · NSE:TMPV
Tata Motors Passenger Vehicles — Jaguar Land Rover Automotive — Q3 FY15 Earnings Presentation
26 slides from Tata Motors Passenger Vehicles's earnings presentation, Feb 5, 2015
Slide 1: Jaguar Land Rover results for the quarter ended 31 December 2014
Jaguar Land Rover results for the quarter ended 31 December 2014 5 February 2015 1
Slide 2: Disclaimer
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 applicable securities
Slide 3: Participants
Participants Kenneth Gregor C. Ramakrishnan CFO Jaguar Land Rover CFO Tata Motors Bennett Birgbauer Treasurer Jaguar Land Rover 3
Slide 4: Agenda
Agenda Key topics Page Financial performance 5 Other developments 14 Closing Q&A 21 4
Slide 5: Q3 FY15 financial highlights
Q3 FY15 financial highlights Solid sales, revenue and profits Retail volumes 111,525 for the quarter, down (0.6)% from prior year, with Land Rover flat and Jaguar down (3.5)% Wholesale volumes 122,187 for the quarter, up 5%, driving revenue of £5.9b, up £0.6b EBITDA £1,096m, up £79m from Q3 FY14 wit
Slide 6: Key financial metrics
Key financial metrics Key metrics - IFRS Quarter ended 31 December 9 months ended 31 December (£ millions, unless stated) 2014 2013 Change 2014 2013 Change 16 8 19 11 Retail volumes ('000 units) 111.5 112.2 (0.7) 337.9 309.6 28.3 Wholesale volumes ('000 units) 122.2 116.4 5.8 341.3 309.0 32.4 Revenu
Slide 7: Solid performance for the quarter
Solid performance for the quarter Land Rover retail volume of 93.2k units, flat vs prior year - robust sales of Range Rover and Discovery Jaguar retail volume of 18.3k, down 0.7k units (3.5)% - lower XF and XJ sales partially offset by F-Type EBITDA of £1,096m, up £79m from Q3 FY14 with a strong EBI
Slide 8: Quarterly retail volumes by carline
Quarterly retail volumes by carline Total retail sales of 111.5k down (0.6)% overall Jaguar – Q3 FY15 vs Q3 FY14 Land Rover – Q3 FY15 vs Q3 FY14 Flat 93.2 93.2 12.3 14.4 Range Rover 20.3 19.2 Range Rover Sport Range Rover Evoque Discovery 32.5 Discovery Sport 31.5 Freelander Down (3.5)% F-TYPE Defen
Slide 9: Quarterly retail volumes by geography
Quarterly retail volumes by geography Total retail sales of 111.5k down (0.6)% overall UK North America China Q3 FY15 Up 11% Down (10)% Up 4% UK Overseas 15.2% 29.7 16.1% 28.7 Asia Pacific North 20.9 5.7% 18.9 America 17.0 Europe 17.0% 15.3 23.4 24.9 (ex. Russia) 16.1 14.7 19.3% 12.3 13.2 China Regi
Slide 10: Quarterly wholesale volumes by geography
Quarterly wholesale volumes by geography Wholesales of 122.2k up 5.0% overall UK North America China Q3 FY15 Up 9% Down (5)% Up 18% 34.1 Overseas UK 14.7% 14.3% 28.9 Asia Pacific 22.2 21.0 5.2% North America 16.1 17.5 Europe 17.2% 29.1 (ex. 22.9 Russia) 17.1 16.1 20.7% 13.0 13.9 China Region 5.1 4.9
Slide 11: Income statement
Income statement Consolidated income statement - IFRS Quarter ended 31 December 9 months ended 31 December (£ millions, unless stated) 2014 2013 Change 2014 2013 Change 16 8 19 11 Revenues 5,879 5,328 551 16,040 14,037 2,003 Material cost of sales (3,565) (3,296) (269) (9,768) (8,613) (1,155) Employ
Slide 12: Healthy cash flow to support investment
Healthy cash flow to support investment Consolidated cash flow - IFRS Quarter ended 31 December 9 months ended 31 December (£ millions, unless stated) 2014 2013 Change 2014 2013 Change 16 8 19 11 EBITDA 1,096 1,017 79 3,116 2,473 643 Working capital changes (223) (50) (173) (252) (124) (128) Tax pai
Slide 13: Solid financing structure
Solid financing structure Key financial indicators - IFRS (£ millions, unless stated) December 2014 December 2013 Change 16 8 Cash and cash equivalents 2,884 2,181 703 Financial deposits 1,143 1,062 81 Cash and financial deposits 4,027 3,243 784 Long term undrawn credit facilities 1,485 1,290 195 Ot
Slide 14: Agenda
Agenda Key topics Page Financial performance 5 Other developments 14 Closing Q&A 21 14
Slide 15: 2015/16 is an important year for Jaguar Land Rover
2015/16 is an important year for Jaguar Land Rover • 2015/16 is an important year for JLR with major developments including: – Launch of the Discovery Sport, Jaguar XE, F-Pace and other exciting new products and derivatives – Launch of the new Ingenium Engine plant – Launch of the new Chery Jaguar L
Slide 16: Investment spending update
Investment spending update Continuing investment to grow the business • JLR remains committed to it’s strategy to invest substantially in future products, technologies and capacities to deliver profitable volume growth – For 2014/15, spending is now expected to come in at £3-£3.2b, somewhat lower th
Slide 17: Summary
Summary Solid performance in Q3 FY15 For the remainder of 2014/15 fiscal year, - continue to build on the sales momentum of the two brands - continue to ramp up production and sales of the new Discovery Sport and prepare for the first deliveries of the new Jaguar XE in the first half of 2015 - succe
Slide 18: Agenda
Agenda Key topics Page Financial performance 5 Other developments 14 Closing Q&A 21 18
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 122.2k up 5% overall Jaguar – Q3 FY15 vs Q3 FY14 Land Rover – Q3 FY15 vs Q3 FY14 Up 7% 103.1 96.0 16.3 13.3 22.2 Range Rover 23.0 Range Rover Sport Range Rover Evoque Discovery 35.3 Discovery Sport 32.6 Down (6)% Freelander F-TYPE Defender 0.9 20.
Slide 22: 9 month retail volumes by carline
9 month retail volumes by carline Total retail sales of 337.9k up 9% overall Jaguar – 9 months FY15 vs 9 months FY14 Land Rover – 9 months FY15 vs 9 months FY14 280.4 Up 11% 253.0 40.6 33.0 59.2 43.3 Range Rover Range Rover Sport Range Rover 92.9 Evoque 90.3 Discovery Discovery Sport Up 2 % Freeland
Slide 23: 9 month retail volumes by geography
9 month retail volumes by geography Total retail sales of 337.9k up 9% overall UK North America China 9 month FY15 92.4 Up 12% Down (1)% Up 26% Overseas UK 73.5 15.2% 17.2% Asia 58.0 55.7 55.1 Pacific 51.9 5.8% North 75.9 Europe America 59.8 (ex. 16.3% 45.1 41.4 42.9 Russia) 40.7 18.2% China Region
Slide 24: 9 month wholesale volumes by carline
9 month wholesale volumes by carline Total wholesales of 341.3k up 10% overall Jaguar – 9 months FY15 vs 9 months FY14 Land Rover – 9 months FY15 vs 9 months FY14 284.9 Up 13% 251.1 43.3 33.1 59.8 43.5 Range Rover Range Rover Sport Range Rover 94.6 Evoque 89.3 Discovery Discovery Sport Down (2) % Fr
Slide 25: 9 month wholesale volumes by geography
9 month wholesale volumes by geography Total wholesales of 341.3k up 10% overall UK North America China 9 month FY15 96.1 Up 12% Up 3% Up 29% Overseas UK 74.7 15.0% 16.7% Asia 57.0 53.2 54.5 Pacific 51.0 5.7% North 78.9 Europe America 60.2 (ex. 16.0% Russia) 39.1 44.9 39.4 43.4 18.4% China Region 11
Slide 26: Product and other investment
Product and other investment Key financial indicators - IFRS Quarter ended 31 December 9 months ended 31 December (£ millions, unless stated) 2014 2013 Change 2014 2013 Change 16 8 19 11 R&D expense Capitalised 303 271 32 850 772 78 Expensed 65 55 10 180 167 13 Total R&D expense 368 326 42 1,030 939
Jaguar Land Rover Automotive — Q3 FY15 Earnings Presentation on 6ix