Mazda Motor Corp. · TSE:7261
Mazda Motor — Q1 FY March 2015 Earnings Presentation
30 slides from Mazda Motor's earnings presentation, Jul 31, 2014
Slide 1: Fiscal Year March 2015 First Quarter Financial Results
FISCAL YEAR MARCH 2015 FIRST QUARTER FINANCIAL RESULTS Mazda Roadster 25th Anniversary Model Mazda Motor Corporation July 31, 2014 1
Slide 2: Presentation Outline
PRESENTATION OUTLINE Highlights Fiscal Year March 2015 First Quarter Results Summary 2
Slide 3: Highlights
HIGHLIGHTS 3
Slide 4: Highlights
HIGHLIGHTS Global sales volume was 319,000 units, up 6% from the prior year In addition to the continued success of CX-5 and Mazda6/Atenza, the new Mazda3/Axela contributed to global sales Revenue was ¥705.6 billion. Operating profit was ¥56.4 billion. Net income was ¥48.9 billion. Operation
Slide 5: Fiscal Year March 2015 First Quarter Results
FISCAL YEAR MARCH 2015 FIRST QUARTER RESULTS 5
Slide 6: Global Sales Volume
GLOBAL SALES VOLUME First Quarter FY March FY March Change from (000) 2014 2015 Prior Year Volume YOY(%) Global sales volume Japan 50 40 (10) (21)% North America 95 110 15 16% Europe 46 56 10 23% China 37 44 7 18% Other Markets 73 69 (4) (4)% Total 301 319 18 6% <Breakdown> USA 67 78 11 18% Australi
Slide 7: FY March 2015 Financial Metrics
FY MARCH 2015 FINANCIAL METRICS First Quarter FY March FY March Change from (Billion yen) 2014 2015 Prior Year Amount YOY(%) Revenue 615.9 705.6 89.7 15% Operating profit 36.5 56.4 19.9 54% Ordinary profit 8.4 54.6 46.2 550% Profit before tax 8.2 52.8 44.6 548% Net income 5.5 48.9 43.4 796% Operatin
Slide 8: Japan
JAPAN Sales were 40,000 units, down 21% from the prior year The new Axela continued to sell well New Axela However, sales declined year-on-year due to the First Quarter Sales Volume (000) impact of the consumption 50 tax and aging of high-volume 50 model, Demio 40 (21)% Moving forward, minim
Slide 9: North America
NORTH AMERICA Sales were 110,000 units, up 16% year-on-year USA: 78,000 units, up 18% year-on-year - New Mazda3: Competition New Mazda3 (North American model) remains fierce, but sales First Quarter Sales Volume increased while incentives (000) were suppressed 16% 110 100 95 - CX-5 and Mazda6: M
Slide 10: Europe
EUROPE Sales were 56,000 units, up 23% year-on-year The new Mazda3 and CX-5 drove sales. Sales stayed strong in major markets New Mazda3 (European model) including Germany First Quarter Sales Volume (000) - Germany: 14,000 units, up 23% 56 24% year-on-year 50 46 - UK: 7,000 units, up 12% year- o
Slide 11: China
CHINA Sales were 44,000 units, up 18% year-on-year In addition to strong sales of New Mazda6 Atenza Mazda6, CX-5 contributed to the growth (000) First Quarter Sales Volume 50 44 18% Following strong sales of 37 CX-5, the locally-produced new Mazda6 Atenza and new Mazda3 Axela were introduced a
Slide 12: Other Markets
OTHER MARKETS Sales were 69,000 units, down 4% year-on-year Australia: Due to market slowdown, sales were 24,000 units, down 6% year-on-year CX-5 (Australian model) - CX-5 remained the top seller in its segment as it was in the last fiscal First Quarter Sales Volume year (000) 73 - The new Mazda
Slide 13: Operating Profit Change
OPERATING PROFIT CHANGE FY March 2015 First Quarter vs. FY March 2014 First Quarter Sales increase and Improvement (Billion yen) mix improvement of SKYACTIV models (Deterioration) Cost 75 Improvement Marketing Volume & + 6.8 Expense Other FY March Exchange Mix 2015 + 3.7 (2.0) + 22.0 56.4 (10.6) 50
Slide 14: Global Sales Volume Forecast
GLOBAL SALES VOLUME Change from Change from FY March 2015 Prior Year April Forecast First Second Full Full First Full (000) Half Half Year Year Half Year Global sales volume Japan 94 136 230 (6)% (10) 0 North America 227 213 440 13% 0 0 Europe 109 111 220 6% 0 0 China 100 130 230 17% 0 0 Other Marke
Slide 15: FY March 2015 Financial Metrics Forecast
FY MARCH 2015 FINANCIAL METRICS Change from Change from FY March 2015 Prior Year April Forecast First Second Full Full First Full (Billion yen) Half Half Year Year Half Year Revenue 1,390.0 1,510.0 2,900.0 207.8 (30.0) 0 Operating profit 100.0 110.0 210.0 27.9 0 0 Ordinary profit 98.0 112.0 210.0 69
Slide 16: Expansion of SKYACTIV Line-up
EXPANSION OF SKYACTIV LINE-UP [New Mazda3/Axela] Sales are strong globally - Japan: Sales are strong thanks to wide range of available engines including gasoline, diesel and hybrid - North America: Sales were increased and incentives suppressed despite fierce competition - Europe: Sales are strong
Slide 17: Establish Global Production Footprint
ESTABLISH GLOBAL PRODUCTION FOOTPRINT Operations at the Mexico Plant - Started production of new Mazda3 in January 2014 - Produced 10,000 units in the fourth quarter of the last fiscal year and 15,000 units in the first quarter of this fiscal year - Began operating on two shifts in July Preparat
Slide 18: Summary
SUMMARY 18
Slide 19: Summary
SUMMARY Global sales volume was 319,000 units, up 6% over the prior year due to the full-scale contribution of new Mazda3/Axela Sales mix of SKYACTIV models increased to 67% Operations at the Mexico Plant are running smoothly and preparations to launch the new automatic transmission plant in T
Slide 20: 20
20
Slide 21: Appendix
APPENDIX 21
Slide 22: Cash Flow and Net Debt
CASH FLOW AND NET DEBT FY March 2014 FY March 2015 Change from (Billion yen) Full Year First Quarter Prior FY End Cash Flow - From Operating activities 136.4 38.1 - - From Investing activities (120.1) (36.5) - - Free Cash Flow 16.3 1.6 - Cash and Cash Equivalents 479.8 476.6 (3.2) Net Debt 263.0 263
Slide 23: Revenue by Region
REVENUE BY REGION (Billion yen) 752.0 705.6 685.9 100.5 638.4 102.3 615.9 100.3 600 97.9 Other 106.7 151.5 146.2 141.9 126.4 Europe 109.3 226.7 North 183.9 226.8 247.5 300 194.7 America 273.3 205.2 230.2 216.9 209.6 Japan 0 1Q 2Q 3Q 4Q 1Q FY March 2014 FY March 2015 23
Slide 24: Revenue by Product
REVENUE BY PRODUCT (Billion yen) 752.0 705.6 685.9 79.0 638.4 53.7 50.2 40.0 615.9 56.0 59.9 600 Other 49.4 59.4 51.8 55.3 Parts 633.0 300 576.3 592.0 Vehicles/ 514.7 527.1 Parts for overseas production 0 1Q 2Q 3Q 4Q 1Q FY March 2014 FY March 2015 24
Slide 25: Revenue Change
REVENUE CHANGE FY March 2015 First Quarter vs. FY March 2014 First Quarter (Billion yen) FY March 2015 705.6 FY March 2014 615.9 Japan (3)% Overseas 16% 15% 15% 13% 10% 5% 2% 0% Total Volume & Mix Exchange 25
Slide 26: Consolidated Wholesales
CONSOLIDATED WHOLESALES First Quarter FY March FY March Change from (000) 2014 2015 Prior Year Consolidated Wholesales Japan 54 43 (11) North America 91 111 20 Europe 39 52 13 China 1 1 0 Other Markets 70 72 2 Total 255 279 24 26
Slide 27: Global Sales Volume and Consolidated Wholesales
GLOBAL SALES VOLUME AND CONSOLIDATED WHOLESALES FY March 2015 Change from Prior Year First Second Full First Second Full (000) Half Half Year Half Half Year Global sales volume Japan 94 136 230 (17) 3 (14) North America 227 213 440 28 21 49 Europe 109 111 220 12 1 13 China 100 130 230 21 13 34 Other
Slide 28: Key Data
KEY DATA (Billion yen) 150.0 150 Full 133.2 Year Full 99.4 100.0 100 Year 70.0 Full 57.7 Year 50 1Q 25.3 28.7 1Q 20.2 22.0 1Q 13.2 16.0 0 FY3/14 FY3/15 FY3/14 FY3/15 FY3/14 FY3/15 Capital Depreciation R&D cost Spending * Data for FY March 2015 Full Year are forecast 28
Slide 29: Dividend Forecast, Consolidation of Shares and Change in Shares per Unit
DIVIDEND FORECAST, CONSOLIDATION OF SHARES AND CHANGE IN THE NUMBER OF SHARES PER SHARE UNIT Dividend Forecast FY March 2015 year-end dividend ¥10* per share (Plan) * After share consolidation Work to provide stable dividends and realize steady increase Consolidation of shares and change in the
Slide 30: Disclaimer
DISCLAIMER The projections and future strategies shown in this presentation are based on various uncertainties including without limitation the conditions of the world economy in the future, the trend of the automotive industry and the risk of exchange-rate fluctuations. So, please be aware that Maz