Subaru Corporation · TSE:7270
Subaru — Q1 FYE2023 Earnings Presentation
24 slides from Subaru's earnings presentation, Aug 3, 2022
Slide 1: Consolidated Financial Results for the 1st Quarter of FYE 2023
Consolidated Financial Results for the 1st Quarter of FYE 2023 SUBARU CORPORATION Katsuyuki Mizuma, Director, Executive Vice President & CFO August 3 rd, 2022 https://www.subaru.co.jp/en/ir/
Slide 2: Consolidated Financial Results for the 1st Quarter (3 months) of FYE 2023
Consolidated Financial Results for the 1st Quarter (3 months) of FYE 2023 https://www.subaru.co.jp/en/ir/ 2
Slide 3: Consolidated Unit Sales / Complete Cars Production
1 st Q u a r t e r ( 3 m o n t h s ) ： Consolidated Unit Sales / Complete Cars Production (Thousand Units) FYE 2022 FYE 2023 Variance 1Q Results 1Q Results Production in U.S. 67 70 +4 Production in Japan 117 135 +18 Production* Total 184 205 +22 FYE 2022 FYE 2023 Variance 1Q Results 1Q Results Conso
Slide 4: Consolidated Unit Sales (by market)
1 st Q u a r t e r ( 3 m o n t h s ) : Consolidated Unit Sales (by market) : (Thousand Units) FYE 2022 FYE 2023 Variance 1Q Results 1Q Results Passenger cars 19 16 -3 Minicars 5 4 -1 Domestic total 24 20 -4 U.S. 117 139 +22 Canada 12 11 -1 Europe 3 5 +1 Australia 7 9 +2 China 4 3 -1 Others 8 9 +1 Ov
Slide 5: Consolidated Profit Results
1 st Q u a r t e r ( 3 m o n t h s ) : Consolidated Profit Results (100 Million Yen) FYE 2022 FYE 2023 Variance 1Q Results 1Q Results Revenue 6,352 8,341 +1,989 Domestic 1,130 1,271 +140 Overseas 5,222 7,070 +1,849 Operating profit 295 370 +74 Profit before tax 343 384 +42 Profit for the period attr
Slide 6: Analysis of Variance in Operating Profit (Consolidated)
1 st Q u a r t e r ( 3 m o n t h s ) : A n a l y s i s o f Va r i a n c e i n O p e r a t i n g P r o f i t ( C o n s o l i d a t e d ) (100 Million Yen) +112 +2 -338 +444 R&D expenses Sales volume & mixture, etc. -158 +12 SG&A expenses, New car sales total：+162 etc. by sales volume +139 Cost impact
Slide 7: Consolidated Statement of Cash Flows / Cash and cash equivalents
1 st Q u a r t e r ( 3 m o n t h s ) : Consolidated Statement of Cash Flows / Cash and cash equivalents (100 Million Yen) FYE 2022 FYE 2023 1Q Results 1Q Results Net cash provided by (used in) operating activities 201 1,323 Net cash provided by (used in) investing activities -550 -578 Free cash flow
Slide 8: Capex / Depreciation / R&D
Capex / Depreciation / R&D (100 Million Yen) FYE 2022 FYE 2023 Variance 1Q Results 1Q Results Capex *1 192 280 +88 Depreciation *1 228 238 +10 R&D expenditures *2 271 231 -41 *1 : Leases, capex & amortization for intangible assets and lease liabilities are not included in the results and forecast ab
Slide 9: Forecast for FYE 2023
Forecast for FYE 2023 https://www.subaru.co.jp/en/ir/ 9
Slide 10: FYE 2023 Plan: Consolidated Unit Sales / Complete Cars Production
FYE 2023 Plan ： Consolidated Unit Sales / Complete Cars Production (Thousand Units) FYE 2022 FYE 2023 Variance Results Plan Production in U.S. 272 - - Production in Japan 455 - - Production* Total 727 1,000 +273 FYE 2022 FYE 2023 Variance Results Plan Consolidated Unit Sales Total 734 940 +206 * Pro
Slide 11: FYE 2023 Plan: Consolidated Unit Sales (by market)
FYE 2023 Plan ： C: o n s o l i d a t e d U n i t S a l e s ( b y m a r k e t ) (Thousand Units) FYE 2022 FYE 2023 Variance Results Plan Passenger cars 73 91 +18 Minicars 17 24 +7 Domestic total 89 115 +25 U.S. 506 636 +130 Canada 49 53 +3 China 14 19 +5 Others 75 118 +43 Overseas total 645 826 +181
Slide 12: FYE 2023 Plan: Consolidated Profit Plan
FYE 2023 Plan ： Consolidated Profit Plan (Yen in 100 millions) FYE 2022 FYE 2023 Variance Results Plan Revenue 27,445 35,000 +7,555 Operating profit 905 2,000 +1,095 Profit before tax 1,070 2,000 +930 Profit for the period attributable to 700 1,400 +700 owners of parent SUBARU US$ ¥112 ¥120 +¥8 exch
Slide 13: FYE 2023 Plan: Analysis of Variance in Operating Profit
FYE 2023 Plan ： A n a l y s i s o f Va r i a n c e i n O p e r a t i n g P r o f i t ( C o n s o l i d a t e d ) (100 Million Yen) +859 -1,006 +2,365 -987 Gain on currency SG&A expenses, exchange etc. -156 +20 Cost impacts R&D expenses Other New car sales total：+2,553 by sale volume +1,647 2,000 Sal
Slide 14: Capex / Depreciation / R&D
Capex / Depreciation / R&D (100 Million Yen) FYE 2022 FYE 2023 Variance Results Plan Capex *1 861 1,400 +539 Depreciation *1 946 1,000 +54 R&D expenditures *2 1,138 1,200 +62 *1 : Leases, capex & amortization for intangible assets and lease liabilities are not included in the results and forecast ab
Slide 15: Appendix
Appendix • Segment information by Business & Geographic • FYE 2022 and FYE 2023 Results (by Quarter) • Overseas Revenue • Complete Cars Production / Retail Sales Units • Consolidated Statement of Financial Position • Non-consolidated Unit Sales • Operating Results of Subsidiaries in U.S. https://www
Slide 16: Revenue and Operating Profit by Business Segment (Consolidated)
1 st Q u a r t e r ( 3 m o n t h s ) ： Revenue and Operating Profit by Business Segment (Consolidated) (100 Million Yen) Revenue Operating profit FYE 2022 FYE 2023 FYE 2023 FYE 2022 FYE 2023 FYE 2023 Variance Variance 1Q Results 1Q Results Plan 1Q Results 1Q Results Plan Automobile 6,177 8,181 +2,00
Slide 17: Revenue and Operating Profit by Geographic Area (Consolidated)
1 st Q u a r t e r ( 3 m o n t h s ) ： Revenue and Operating Profit by Geographic Area (Consolidated) (100 Million Yen) Revenue Operating profit FYE 2022 FYE 2023 Variance FYE 2022 FYE 2023 Variance 1Q Results 1Q Results 1Q Results 1Q Results Japan 1,585 1,799 +214 96 149 +54 North America 4,482 6,2
Slide 18: Overseas Revenue (Consolidated)
1 st Q u a r t e r ( 3 m o n t h s ) ： Overseas Revenue (Consolidated) (100 Million Yen) FYE 2022 FYE 2023 Variance 1Q Results 1Q Results North America 4,603 6,301 +1,698 Europe 156 188 +31 Asia 210 239 +28 Other 252 343 +91 Total 5,222 7,070 +1,849 https://www.subaru.co.jp/en/ir/ 18
Slide 19: Consolidated Statement of Financial Position
Consolidated Statement of Financial Position (100 Million Yen) As of March As of June Variance 2022 2022 Total assets 35,438 37,397 +1,959 Current assets 20,422 22,059 +1,637 Non-current assets 15,015 15,337 +322 Total liabilities 16,427 17,552 +1,124 Interest bearing debts 3,340 3,314 -26 Total equ
Slide 20: Non-consolidated Unit Sales
1 st Q u a r t e r ( 3 m o n t h s ) ： Non-consolidated Unit Sales : (Thousand Units) FYE 2022 FYE 2023 Variance 1Q Results 1Q Results Domestic production* 117 135 +18 Domestic sales 21 20 -1 Passenger cars 16 16 -0 Minicars 5 4 -0 Export total 96 107 +11 Components for overseas 89 70 -20 production
Slide 21: Operating Results of Subsidiaries in U.S.
1 st Q u a r t e r ( 3 m o n t h s ) ： Operating Results of Subsidiaries in U.S. （Million US$） FYE 2022 FYE 2023 SOA *1 Variance 1Q Results 1Q Results Net sales 3,796 4,484 +688 Operating income 249 280 +31 Net income 205 174 -31 Retail sales (Thousand units) 160 131 -29 FYE 2022 FYE 2023 SIA *2 Var
Slide 22: FYE 2022 and FYE 2023 Results (by Quarter)
FYE 2022 and FYE 2023 Results(by Quarter) (Yen in 100 millions, Units in thousands) FYE 2022 FYE 2023 Results Results 1Q 2Q 3Q 4Q 1Q Consolidated Unit Sales 175 200 172 187 196 Production * 184 158 207 177 205 Revenue 6,352 7,065 6,659 7,370 8,341 Operating profit 295 249 227 133 370 Profit for the
Slide 23: Complete Cars Production / Retail Sales Units
Complete Cars Production / Retail Sales Units (1,000units） Production Retail Sales 300 280 276 278 273 277 276 271 271 268 270 269 269 269 262 262 262 264 260 264 258 250 257 261 254 250 254 249 253 253 249 252 245 248 242 241 244 242 242 237 236 240 240 237 231 233 229 227 229 200 207 205 209 204 1
Slide 24: Forward-looking statements disclaimer
Forward-looking statements including projections and future strategies mentioned in this presentation are based on currently available information and assumptions and are subject to risks and uncertainties. Actual results may vary materially as a result of various factors including, without limitati