Nissan Motor Co., Ltd. · TSE:7201
Nissan Motor — Q1 FY2016 Earnings Presentation
15 slides from Nissan Motor's earnings presentation, Jul 27, 2016
Slide 1: FY2016 First-quarter Financial Results
FY2016 First-quarter Financial Results Nissan Motor Co., Ltd July 27, 2016 Key performance indicators: financial results (TSE report basis - China JV Equity basis) (billion yen) Operating Free cash flow Net cash Net revenue Net income * profit (Auto) (Auto) 1,447.1 2,899.4 1,365.1 2,654.5 229.4 193.
Slide 2: Reference: Business performance simulation
Reference: Business performance simulation TSE report basis Constant currency basis (billion yen) (billion yen) Net revenue Operating Net revenue Operating profit profit 2,899.4 2,899.4 2,991.2 2,654.5 267.0 193.7 193.7 175.8 FY15 FY16 FY15 FY16 FY15 FY16 FY15 FY16 1Q 1Q 1Q 1Q 1Q 1Q 1Q 1Q (C) Copyri
Slide 3: FY16 1st quarter sales performance: Global and Japan
FY16 1st quarter sales performance: Global TIV *1 Retail volume vs. FY15 *2 *2 M/S 5.9% M/S 5.6% vs. FY15 22.79 Global +3.5% 22.02 1.08 Japan 1,294 1,287 Global -0.6% -1.9% 1.10 120 90 Japan -25.4% 6.30 China +6.0% 5.94 296 299 China +0.8% North (thousand units) (million units) 5.44 5.52 America +1.
Slide 4: Sales performance: China
FY16 1st quarter sales performance: China ■ FY16 1Q (Jan. to Mar.) Retail volume *1 TIV *2 : 6.30 million units, +6.0% +0.8% Sales*1 : 299 k units, +0.8% (thousand units) Market share: 4.7%, -0.3 points 296 299 Sylphy series: 65.0 k units ■ FY16 2Q (Apr. to Jun.) FY15 FY16 TIV *2 : 6.01 mi
Slide 5: Sales performance: North America and Europe
FY16 1st quarter sales performance: North America ■ US US Retail volume • TIV: 4.56 million units, -0.2% +7.9% • Sales: 398 k units, +7.9% (thousand units) 398 • Market share: 8.7%, +0.6 points 369 ■ Canada • Sales: 39 k units, +7.1% • Market share: 6.7%, +0.2 points FY15 FY16 1Q 1Q ■ Mexico US Mark
Slide 6: Sales performance: Other markets
FY16 1st quarter sales performance: Other markets ■ Sales: 186 k units, -8.6% Asia & Oceania: 84 k units, -3.7% (TIV: +6.6%) Latin America: 38 k units, -8.5% (TIV: -12.0%) Retail volume Middle East: 44 k units, -11.4%(TIV: -8.8%) Africa & others: 20 k units, -20.3%(TIV: -10.4%) -8.6% (thousand units
Slide 7: FY16 1st quarter financial performance
FY16 1st quarter financial performance (TSE report basis - China JV Equity basis) FY15 FY16 Change (billion yen) 1Q 1Q Variance vs. FY15 (%) Net revenue 2,899.4 2,654.5 -244.9 -8.4% Operating profit 193.7 175.8 -17.9 -9.2% OP margin 6.7% 6.6% Non-operating 22.2 22.4 Ordinary profit 215.9 198.2 -17.7
Slide 8: Free cash flow and inventory management
FY16 1st quarter financial performance (TSE report basis - China JV Equity basis) Free cash flow (Auto business) +265.6 (billion yen) +39.9 359.3 -108.4 229.4 -118.0 -11.9 +162.2 Net cash AP / AR Inventory Tax / other Cash flow CAPEX* Others Free cash inflow from operating from flow P&L items activi
Slide 9: Net Cash (Auto business)
Net Cash (Auto business) (TSE report basis - China JV Equity basis ) 2015 2016 (billion yen) (billion yen) 1,447.1 1,502.9 1,500 1,500 1,390.1 1,365.1 1,200 1,200 900 900 600 600 300 300 0 0 Mar. Jun. Mar. Jun. FX: JPY/USD FX: JPY/USD 120.2 122.5 112.7 102.9 End of month End of month (C) Copyright N
Slide 10: Financial performance (management pro forma basis)
FY16 1st quarter financial performance (management pro forma basis *1 ) FY15 FY16 Change (billion yen) 1Q 1Q Variance vs. FY15 (%) Net revenue 3,122.7 2,893.5 -229.2 -7.3% Operating profit 219.7 209.0 -10.7 -4.9% OP margin 7.0% 7.2% +0.2% Net income *2 152.8 136.4 -16.4 -10.7% 121.4 JPY/USD 108.0 JP
Slide 11: FY16 outlook
FY16 1st quarter sales performance FY16 1st quarter financial performance FY16 outlook (C) Copyright NISSAN MOTOR CO., LTD. www.nissan-global.com All rights reserved. 21 Previously announced in May FY16 outlook (TSE report basis - China JV Equity basis) FY15 FY16 Change (billion yen) Variance actual
Slide 12: FY16 shareholder return outlook
Previously announced in May FY16 shareholder return outlook Minimum payout ratio of 30% 14.3% Announced share buyback program on February 26, 2016 48 (300 million shares up to 400 billion yen during 2016) 42 33 dividend per share (yen) 30 25 20 FY11 FY12 FY13 FY14 FY15 FY16 (Forecast) (C) Copyri
Slide 13: Sales financing: funding sources
Appendix Sales financing: funding sources (As of June 2016) Equity 10.9% Group Finance (Inter-Company) ABS Off B/S 2.3% 18.9% Commercial paper 4.2% ABS On B/S S/T Loan 24.7% 3.7% L/T Loan Bonds 24.2% 11.1% Total funding amount 8,251billion yen (C) Copyright NISSAN MOTOR CO., LTD. www.nissan-global.c
Slide 14: Sales financing: penetration and net credit loss ratio
Sales financing: penetration Lease (%) Retail 100% 100 90%90 NFS NMAC NCF NRFM 80%80 70%70 60%60 25% 34% 50%50 34% 31% 40%40 6% 30%30 6% 20%20 47% 44% 48% 33% 35% 39% 28% 32% 10%10 0% 0 FY15 FY16 FY15 FY16 FY15 FY16 FY15 FY16 1Q 1Q 1Q 1Q 1Q 1Q 1Q 1Q NFS: Nissan Financial Services, sales finance comp
Slide 15: Sales financing: operating profit & asset
Sales financing: operating profit & asset (NFS : billion yen, NMAC : million USD, NCF : million CAD, NRFM : million Peso) FY15 FY16 Variance 1Q 1Q Asset: 1,131.6 Asset: 1,086.0 Asset: -45.6 NFS OP: 7.2 OP: 7.3 OP: +0.1 Asset: 55,930 Asset: 61,729 Asset: +5,799 NMAC OP: 237 OP: 242 OP: +5 Asset: 5,08