Nissan Motor Co., Ltd. · TSE:7201
Nissan Motor — Q2 2021 Earnings Presentation
15 slides from Nissan Motor's earnings presentation, Nov 9, 2021
Slide 1: Fiscal Year 2021 First-Half Financial Results
FISCAL YEAR 2021 FIRST-HALF FINANCIAL RESULTS Nissan Motor Co., Ltd. November 9th, 2021 FY21 1ST HALF RESULTS FY21 OUTLOOK 2
Slide 2: FY21 Q2 Automotive Trend and Sales Performance
FY21 Q2 (3 MONTHS) AUTOMOTIVE TREND GLOBAL TOTAL INDUSTRY NISSAN Total Industry Volume *1 [K units] Retail Volume [K units] <Excl. China Local Brands and LCV> <Excl. China Local Brand and LCV> 17,000 1,000 16,000 -12% 950 -10% 900 15,000 850 800 14,000 750 13,000 700 FY20 Q2 FY21 Q2 FY20 Q2 FY21 Q2
Slide 3: FY21 Q2 New Model Performance
FY21 Q2 NEW MODEL PERFORMANCE Successful Launch JPN Aura EUR Qashqai Customer orders Customer orders 21k units 58k units OCT YTD OCT YTD Strong presence in the market US Pathfinder US Frontier Segment Share Segment Share +1.7pt +5.3pt 9.9% 4.7% 3.0% 4.6% FY20 Q2 FY21 Q2 *1 FY20 Q2 FY21 Q2 *1 *1: New
Slide 4: Strategic Announcement and Market/Customer Acceptance
FY21 STRATEGIC ANNOUNCEMENT New Z unveil Kei-EV in FY22 e-POWER in China Putting thrill back in the EV Democratization Unprecedented Power Integration driver’s seat NISSAN EV36Zero NISSAN Intelligent Factory 7 MARKET/CUSTOMER ACCEPTANCE Technology and Products <FY21 Awards> ▶ JD Power APEAL/IQS Huma
Slide 5: Q2 Global Performance Progress and 1st Half Financial Performance
FY21 Q2 GLOBAL PERFORMANCE PROGRESS Pricing power +11% Net revenue Per unit FY19 Q2 FY20 Q2 FY21 Q2 Q2 Operating profit breakeven point -15% (Improved) Breakeven Sales volume FY19 Q2 FY20 Q2 FY21 Q2 9 FY21 1st HALF FINANCIAL PERFORMANCE (BILLION YEN) OPERATING PROFIT AUTO AUTO NET REVENUE NET INCOME
Slide 6: FY21 1st Half Financial Performance
FY21 1st HALF FINANCIAL PERFORMANCE (EQUITY BASIS) FY21 H1 OPERATITNG PROFIT vs. PREVIOUS YEAR (BILLION YEN) +10.6 139.1 +45.5 +263.0 -158.8 +18.6 -39.8 FY20 FOREX RAW SALES MONOZUKURI OTHER FY21 H1 O.P. MATERIALS PERFORMANCE PERFORMANCE H1 O.P. FY21 Q2 (3 MONTHS) OPERATING PROFIT vs PREVIOUS YEAR :
Slide 7: FY21 Outlook
FY21 1ST HALF RESULTS FY21 OUTLOOK 13 FY21 OUTLOOK (EQUITY BASIS) FY21 REVISED OUTLOOK vs. PREVIOUS OUTLOOK* (BILLION YEN) +20.0 180.0 +10.0 150.0 No Change No Change FY21 FOREX / PERFORMANCE INVESTMENT FOR RAW MATERIALS FY21 PREVIOUS REGULATORY NEW VEHICLE REVISED AND PRODUCT OUTLOOK ENRICHMENT OUT
Slide 8: Outlook (Appendix)
FY21 OUTLOOK (EQUITY BASIS) FY21 FY21 VARIANCE VARIANCE (BILLION YEN) FY20 PREVIOUS REVISED vs FY20 vs PREVIOUS ACTUAL OUTLOOK*1 OUTLOOK (% Change) OUTLOOK*1 (% Change) RETAIL VOLUME 4,052 4,400 3,800 -252 -600 (K. units) (-6.2%) (-13.6%) NET REVENUE 7,862.6 9,750.0 8,800.0 +937.4 -950.0 (+11.9%) (-
Slide 9: Sales Financing
(BILLION YEN) NET OPERATING TOTAL PENETRATION NET CREDIT REVENUE PROFIT ASSETS LOSS RATIO 215.7 521.1 531.9 8,847.3 8,688.5 136.6 52% 46% 0.74% 0.17% FY20 FY21 FY20 FY21 FY20 FY21 FY20 FY21 FY20 FY21 H1 H1 H1 H1 H1 H1 H1 H1 H1 H1 • Strong profit and penetration results FUNDING SOURCES AS OF SEPTEMBE
Slide 10: Sales Financing Net Credit Loss Ratio
SALES FINANCING NET CREDIT LOSS RATIO FY20 FY21 VARIANCE H1 H1 Lease: 0.02% Lease: 0.01% Lease: -0.01 point NFS Retail: 0.06% Retail: 0.06% Retail: 0.00 point Total: 0.06% Total: 0.05% Total: -0.01 point Lease: 0.63% Lease: -0.26% Lease: -0.89 point NMAC Retail: 1.12% Retail: 0.27% Retail: -0.85 poi
Slide 11: 1st Half Sales Performance
FY21 1st HALF SALES PERFORMANCE TIV RETAIL VOLUME vs. FY20 39.39 GLOBAL +20.0% vs. FY20 2.05 JAPAN +1.1% 2,002 GLOBAL +17.8% 32.82 196 JAPAN -4.1% 2.03 11.70 CHINA +25.4% 1,699 204 9.33 706 CHINA +18.4% NORTH 9.24 +14.8% AMERICA (+14.0%) 596 (7.82) (U.S.) 8.05 (6.86) NORTH 652 AMERICA +25.0% (THOUSA
Slide 12: Q2 (3 Months) Financial Performance
FY21 Q2 (3 MONTHS) FINANCIAL PERFORMANCE (BILLION YEN) OPERATING PROFIT AUTO AUTO NET REVENUE NET INCOME* （OP MARGIN) FREE CASH FLOW NET CASH 1,918.5 1,938.8 63.4 505.8 552.3 EQUITY BASIS (3.3%) 311.0 -4.8 54.1 (-0.3%) -44.4 -174.6 FY20 FY21 FY20 FY21 FY20 FY21 Q2 Q2 Q2 Q2 Q2 Q2 FY20 FY21 FY20 FY21
Slide 13: Financial Performance: Operating Profit Variance Analysis
FINANCIAL PERFORMANCE (EQUITY BASIS) FY21 1ST HALF OPERATING PROFIT VARIANCE ANALYSIS (BILLION YEN) FOREIGN EXCHANGE VOLUME SELLING IMPACT /MIX EXPENSES +18.6 +63.3 +161.5 USD +15.4 (106.9 ⇒ 109.8) JPN +2.4 VOL*1: -2.5 JPN -2.1 INCENTIVES: +0.1 MIX: +4.0 OTHERS: -2.2 CAD +10.9 (78.7 ⇒ 88.3) INCENTIV
Slide 14: Financial Performance: Free Cash Flow and Inventory Status
FINANCIAL PERFORMANCE (EQUITY BASIS) FREE CASH FLOW (AUTO BUSINESS) (BILLION YEN) FY21 H1 Q1 Q2 NET CASH INFLOW FROM P&L ITEMS +23.3 +8.8 +32.3 AP/AR -244.6 -106.7 -351.3 INVENTORY -27.1 -115.7 -142.8 TAX/OTHER OPERATING ACTIVITIES +6.3 +115.5 +121.6 CASH FLOW FROM OPERATING ACTIVITIES -242.1 -98.1
Slide 15: Net Cash by Business Segment
NET CASH BY BUSINESS SEGMENT (EQUITY BASIS) AS OF MARCH 31, 2021 AS OF SEPTEMBER 30, 2021 (BILLION YEN) AUTOMOBILE AUTOMOBILE SALES SALES & TOTAL & TOTAL FINANCING FINANCING ELIMINATIONS ELIMINATIONS BORROWINGS FROM 2,094.6 5,504.6 7,599.2 1,737.9 5,411.6 7,149.5 THIRD PARTIES INTERNAL LOAN TO SALES