Tata Motors Limited · NSE:TMCV
Tata Motors — Q1 FY13 Earnings Presentation
26 slides from Tata Motors's earnings presentation, Aug 14, 2012
Slide 1: Contents and JLR key metrics
Page JLR key metrics Key events for Q1 FY13 Management’s discussion and analysis of financial condition and results of operations General trends in performance (including results of operations) Business risks and mitigating factors Employees Liquidity and capital resources Acquisitions and disposals
Slide 2: Retail volumes (units)
Units ‘00's 120 UFY12 Retails FY13 Retails
Slide 3: Revenue FY12 vs FY13
fm’ a 2 os as FY 2 Revenue MFY13 Revenue
Slide 4: Front Cover Pictures
Front Cover Pictures Jaguar XF Sportbrake in ‘Maillot Jaune’ livery Land Rover Defender special edition Vehicles above Jaguar XJ Ultimate Range Rover Evoque Special Edition with Victoria Beckham For further details visit www.jaguarlandrover.com
Slide 5: Jaguar Land Rover PLC
Jaguar Land Rover PLC Banbury Road Gaydon Warwickshire CV35 0RG
Slide 6: Jaguar Land Rover Results Under IFRS for the period ended June 2012
Jaguar Land Rover Results Under IFRS for the period ended 30 June 2012 09 August 2012
Slide 7: Disclaimer
Disclaimer Statements in this presentation describing the objectives, projections, estimates and expectations of Jaguar Land Rover PLC and its direct and indirect subsidiaries (the “Company”, “Group” or “JLR”) may be “forward-looking statements” within the meaning of applicable securities laws and r
Slide 8: Participants
Participants C. Ramakrishnan CFO Tata Motors Bennett Birgbauer Treasurer Jaguar Land Rover Kenneth Gregor CFO Jaguar Land Rover Vijay Somaiya Head of Treasury & Investor Relations Tata Motors 3
Slide 9: Agenda
Agenda Key topics Page Financial performance 5 Looking ahead / other developments 14 Closing Q&A 17 4
Slide 10: Q1 FY13 financial highlights
Q1 FY13 financial highlights Maintained positive free cash flow while investing significantly in the business Wholesale volumes and revenue up 34% from prior year Cash and financial deposits £2,332m and undrawn committed bank lines £896m. £157m of preference shares were repaid to Tata Motors in the
Slide 11: Key financial metrics
Key financial metrics Cash from operating activities after investing activities (excluding investments in financial deposits) Includes cash and cash equivalents and financial deposits Key metrics—IFRS Quarter ended 30 June Quarter ended 30 June Quarter ended 30 June (£ million, unless stated) 2012 2
Slide 12: Overall performance continues to be good
Overall performance continues to be good Improvement in EBITDA margin primarily due to:—a more favourable geographic mix led by growth in China—Continued favourable foreign exchange environment (avg. £/$ rate 1.58 in Q1 FY13 vs. 1.64 in Q1 FY12) PBT is impacted by £67m of foreign exchange revaluatio
Slide 13: Retail volumes by carline – Q1 FY13
Retail volumes by carline – Q1 FY13 Jaguar – Q1 FY13 vs. Q1 FY12 Land Rover – Q1 FY13 vs. Q1 FY12 8 12,557 13,638 1,454 4,367 4,462 6,732 8,236 XK XJ XF Q1 FY12 Q1 FY13 50,719 Up 42% 72,120 13,854 26,946 7,554 12,658 12,985 6,680 11,514 10,666 4,812 3,429 Q1 FY12 Q1 FY13 Range Rover Evoque Range Rov
Slide 14: Retail volumes by geography – Q1 FY13
Land Rover Jaguar Retail volumes by geography – Q1 FY13 UK North America China Q1 FY13 Europe Asia Pacific All other markets Q1 FY12 Up 36% Up 6% Up 86% Up 40% Up 34% Up 23% 85,758 units 63,276 units 9
Slide 15: Income statement
Income statement Consolidated income statement—IFRS Quarter ended 30 June Quarter ended 30 June Quarter ended 30 June (£ million, unless stated) 2012 2011 Change Change Revenues 3,638 2,703 935 935 Material cost of sales (2,354) (1,774) (580) (580) Employee costs (301) (210) (91) (91) Other expenses
Slide 16: Healthy cash generation and strong liquidity
Healthy cash generation and strong liquidity Consolidated cash flow—IFRS Quarter ended 30 June Quarter ended 30 June Quarter ended 30 June (£ million, unless stated) 2012 2011 Change Change Cash from operating activities 525 380 145 145 Working capital changes and tax paid (39) 131 (170) (170) Cash
Slide 17: Strong financing structure
Strong financing structure Key financial indicators—IFRS (£ million, unless stated) 30 June 2012 31 March 2012 Change Cash and financial deposits 2,332 2,430 (98) Committed revolving credit facility 710 710—Other undrawn committed facilities 186 146 40 Total liquidity 3,228 3,286 (58) Total equity 3
Slide 18: Agenda
Agenda Key topics Page Financial performance 5 Looking ahead / other developments 14 Closing Q&A 17 13
Slide 19: Developments
Developments Standard & Poor’s upgraded the credit rating for JLR from B+ to BB- and maintained a positive outlook Announced plans to increase investment in the Castle Bromwich plant and create 1,100 jobs to produce the new Jaguar XF Sportbrake and F-Type JD Power UK customer satisfaction survey ran
Slide 20: Summary
Summary Good overall performance in the first fiscal quarter Going forward focus is on:—continuing to monitor economic and sales trends closely to balance sales and production—building on momentum of XF 12 model year, 2.2 diesel and Range Rover Evoque launch—launching both refreshed and new Jaguar a
Slide 21: Agenda
Agenda Key topics Page Financial performance 5 Looking ahead / other developments 14 Closing Q&A 17 16
Slide 22: Q&A
Q&A
Slide 23: Additional slides
Additional slides
Slide 24: Wholesale volumes by carline – Q1 FY13
Wholesale volumes by carline – Q1 FY13 Jaguar – Q1 FY13 vs. Q1 FY12 Land Rover – Q1 FY13 vs. Q1 FY12 Up 4% 19
Slide 25: Wholesale volumes by geography – Q1 FY13
Land Rover Jaguar Wholesale volumes by geography – Q1 FY13 UK North America China Q1 FY13 Europe Asia Pacific All other markets Q1 FY12 Up 7% Up 14% Up 91% Up 43% Up 12% Up 36% 83,452 units 62,090 units
Slide 26: Product and other investment
Product and other investment Key financial indicators—IFRS Quarter ended 30 June Quarter ended 30 June (£ million, unless stated) 2012 2011 2011 Change R&D expense Capitalised 215 176 176 39 Expensed 47 26 26 21 Total R&D expense 262 202 202 60 Investment in tangible and other intangible assets 162