Mazda Motor Corp. · TSE:7261
Mazda Motor — FY March 2021 Earnings Presentation
42 slides from Mazda Motor's earnings presentation, May 14, 2021
Slide 1: Fiscal Year March 2021 Financial Results
FISCAL YEAR MARCH 2021 FINANCIAL RESULTS
Slide 2: Presentation Outline
Presentation Outline Fiscal Year March 2021 Results Fiscal Year March 2022 Forecast Financial Results Summary 2
Slide 3: Fiscal Year March 2021 Results
Fiscal Year March 2021 Results 3
Slide 4: FY March 2021 Global Sales Volume
FY March 2021 Global Sales Volume Full Year Change from (Feb. Forecast) FY March FY March Feb. FY March (Thousand units) 2020 2021 Prior Year Forecast 2021 Global sales volume Japan 202 176 -26 -13% -1 177 North America 397 403 +6 +2% +3 400 Europe 264 178 -85 -32% -3 182 China 212 228 +17 +8% -12 2
Slide 5: FY March 2021 Financial Metrics
FY March 2021 Financial Metrics Full Year Change from (Feb. Forecast) FY March FY March FY March (Billion Yen) 2020 2021 Prior Year Feb. Forecast 2021 Net sales 3,430.3 2,882.1 -548.2 -16% -17.9 2,900.0 Operating profit 43.6 8.8 -34.8 -80% +8.8 0.0 Ordinary profit 53.1 28.3 -24.8 -47% +22.3 6.0 Prof
Slide 6: FY March 2021 Operating Profit Change
FY March 2021 Operating Profit Change FY March 2021 Full Year vs. FY March 2020 Full Year (Billion Yen) ・Wholesales volume declined USD -1.6 · Streamlined advertisement cost, 242,000 units EUR +3.9 overhead cost, R&D cost by ・Reduced parts & accessories CAD -1.8 improving efficiency and KD parts AUD
Slide 7: FY March 2021 Operating Profit Change (2nd Half)
FY March 2021 Operating Profit Change FY March 2021 2 nd Half vs. FY March 2020 2 nd Half ・Wholesales volume increased USD -1.7 · Streamlined advertisement cost, 11,000 units EUR +3.2 overhead cost, R&D cost by CAD -0.7 improving efficiency ・Curbed marketing expenses AUD +4.6 · Reduced quality-relat
Slide 8: Fiscal Year March 2022 Forecast
Fiscal Year March 2022 Forecast 8
Slide 9: FY March 2022 Forecast
FY March 2022 Forecast Global sales volume: 1.41 million units Consolidated wholesales: 1.135 million units Operating profit: ¥65 billion Operating ROS: 1.9％ (Thousand units) (Thousand units) (Billion Yen) Global Sales Volume Consolidated Wholesales Operating Profit/ROS 1,419 1,410 65.0 1,232
Slide 10: FY March 2022 Forecast: Lowering Break-even Volume
FY March 2022 Forecast: Lowering Break-even Volume Continue variable profit improvement and fixed cost reduction to improve earnings structure Make steady progress in lowering break-even volume (Thousand units/ Billion yen) 1,232 1,136 To 1 million 1,135 1,015 unit-level 990 ¥65.0 billion ¥43.6
Slide 11: FY March 2022 Global Sales Volume
FY March 2022 Global Sales Volume Full Year FY March FY March Change from (Thousand units) 2021 2022 Prior Year Global sales volume Japan 176 195 +18 +10% North America 403 414 +11 +3% Europe 178 225 +46 +26% China 228 260 +32 +14% Other Markets 301 316 +15 +5% Total 1,287 1,410 +122 +9% % USA 295 2
Slide 12: FY March 2022 Financial Metrics
FY March 2022 Financial Metrics Full Year FY March FY March Change from (Billion Yen) 2021 2022 Prior Year Net sales 2,882.1 3,400.0 +517.9 +18% Operating profit 8.8 65.0 +56.2 +637% Ordinary profit 28.3 55.0 +26.7 +95% Profit before tax 2.2 49.0 +46.8 - Net income -31.7 35.0 +66.7 - Operating ROS 0
Slide 13: FY March 2022 Operating Profit Change
FY March 2022 Operating Profit Change FY March 2022 Full Year vs. FY March 2021 Full Year · Increase in wholesales USD -1.2 · Investment for growth volume by 145,000 units EUR +5.2 ex. US plant · Curbed marketing CAD +6.7 · Continued fixed cost (Billion Yen) expenses, improved sales AUD +11.3 reduct
Slide 14: Financial Results Summary
Financial Results Summary 14
Slide 15: Financial Results Summary: FY March 2021 Results
Financial Results Summary: FY March 2021 Results Profit recovered in the second half due to sales recovery, fixed cost reduction and variable profit improvement Full-year positive profit was achieved with steady progress in lowering break-even point Free cash flow ¥41.2 billion, net cash ¥-17.
Slide 16: Financial Results Summary: Results vs July Forecast
Financial Results Summary: FY March 2021 Results vs July Forecast Accelerate/enhance structural reform initiatives Steadily improving sales and production by managing inventory levels in line with demand recovery Streamlining fixed costs by keeping them thoroughly in check and improving efficien
Slide 17: Financial Results Summary: FY March 2022 Forecast
Financial Results Summary: FY March 2022 Forecast Operating profit forecast at ¥65 billion, better than two years ago. Net income at ¥35 billion, and year-end dividend planned at ¥15 per share The forecast accounts for both the impact of the semiconductor shortage and risks of material price hik
Slide 18: In Conclusion
In Conclusion FY March 2022 Forecast • Uncertain environment due to issues such as the semiconductor shortage and rising prices of raw materials • Make steady progress on key initiatives of the Medium- Term Management Plan • Promote company-wide cross-functional activities Proceed with the devel
Slide 19: MAZDA MOTOR CORPORATION
MAZDA MOTOR CORPORATION 19
Slide 20: Appendix
Appendix MAZDA MOTOR CORPORATION 20
Slide 21: Cash Flow and Net Cash
Cash Flow and Net Cash FY March FY March 2020 2021 Change from (Billion Yen) Full Year Full Year Prior FY End Cash Flow - From Operating activities 34.8 120.1 - - From Investing activities -127.6 -78.9 - - Free Cash Flow -92.7 41.2 - Cash and Cash Equivalents 568.0 738.8 +170.8 Interest-bearing Debt
Slide 22: FY March 2022 Global Sales Volume
FY March 2022 Global Sales Volume Aim to recover global sales volume to FY March 2020 levels. Grow sales in strong markets such as North America and Australia Maximize profit by improving mix in destination markets/carlines/grades Global Sales Volume (Thousand units) 1,419 1,410 YOY +122,000 uni
Slide 23: Japan
Japan 176,000 units sold, down 13% year on year Market share declined 0.2 points year on year to 3.8%, while registered vehicle market share declined 0.3 points year on year to 4.9% Full Year Sales Volume & Market Share While the updated CX-5 and CX-8 saw strong sales, market share 4.0% 3.8% d
Slide 24: North America
North America 403,000 units sold, up 2% year on year USA: 295,000 units, up 7% year on year - Market share increased 0.3 points year on year to 2.0% - Crossover SUVs, including the newly introduced CX-30, as well as Full Year Sales Volume & US Market Share the CX-5 and CX-9, contributed to 2.0%
Slide 25: Europe
Europe 178,000 units sold, down 32％ year on year Market share declined 0.3 points year on year to 1.1% Sales volume and market share dropped due to prolonged Full Year Sales Volume & lockdowns and other reasons Market Share 1.4% Germany: 41,000 units, down (Thousand units) 1.1% 36% year on y
Slide 26: China
China 228,000 units sold, up 8％ year on year Market share declined 0.1 point year on year to 0.8% Sales of the CX-4 and CX-5 rose year on year. The CX-30, newly Full Year Sales Volume & introduced this fiscal year, also Market Share made a steady contribution to 0.9% sales 0.8% (Thousand units
Slide 27: Other Markets
Other Markets 301,000 units sold, down 13% year on year Australia: 93,000 units sold, up 3% year on year ⁃ Market share rose 1.0 point year on year to 9.8% ⁃ Sales exceeded the industry demand in the segments of Full Year Sales Volume & passenger cars, SUVs, and pickup Australia Market Share tru
Slide 28: Net Sales by Geographic Area
Net Sales by Geographic Area (Billion Yen) 922.6 874.0 848.9 857.7 849.7 843.7 164.4 Other 125.0 141.7 129.1 127.0 739.1 154.4 155.7 118.3 145.7 184.6 185.4 Europe 179.8 151.3 123.5 309.0 258.8 320.2 376.7 North 278.0 309.7 283.3 326.4 America 60.0 69.6 109.2 Japan 285.2 273.1 303.5 259.3 217.7 214.
Slide 29: Net Sales by Product
Net Sales by Product (Billion Yen) 922.6 874.0 848.9 857.7 849.7 843.7 67.9 63.3 66.4 65.3 Other 57.6 58.7 60.9 64.8 739.1 Parts 65.8 66.0 65.8 61.4 65.0 58.9 Vehicles / 376.7 789.4 Parts for 725.5 728.4 725.2 742.8 721.4 Overseas 51.0 Production 43.4 615.2 282.3 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q FY March 202
Slide 30: Net Sales Change (Full Year)
Net Sales Change (Full Year) FY March 2021 Full Year vs. FY March 2020 Full Year (Billion Yen) 10% FY March 2021 2,882.1 FY March 2020 3,430.3 Domestic -1% Overseas -14% 0% -1% -10% -15% -16% -20% Total Volume & Mix Foreign Exchange 30
Slide 31: Net Sales Change (3 Months)
Net Sales Change (3 Months) FY March 2021 Fourth Quarter vs. FY March 2020 Fourth Quarter (Billion Yen) FY March 2021 922.6 10% FY March 2020 874.0 Domestic +1% Overseas +4% +6% 5% +5% +1% 0% Total Volume & Mix Foreign Exchange -5% 31
Slide 32: Global Sales Volume And Consolidated Wholesales (1st Half / 2nd Half)
Global Sales Volume And Consolidated Wholesales (1st Half / 2nd Half) Change from FY March 2021 Prior Year Feb. Forecast (Thousand units) 1st Half 2nd Half Full Year 1st Half 2nd Half Full Year Full Year Global sales volume Japan 74 103 176 -25 -1 -26 -1 North America 185 219 403 -18 +24 +6 +3 Europ
Slide 33: FY March 2021 Financial Metrics (1st Half / 2nd Half)
FY March 2021 Financial Metrics (1st Half / 2 nd Half) Change from FY March 2021 Prior Year Feb. Forecast (Billion Yen) 1st Half 2nd Half Full Year 1st Half 2nd Half Full Year Full Year Net sales 1,115.8 1,766.3 2,882.1 -590.8 +42.6 -548.2 -17.9 Operating profit -52.9 61.7 8.8 -78.7 +43.9 -34.8 +8.8
Slide 34: FY March 2021 Operating Profit Change
FY March 2021 Operating Profit Change FY March 2021 Full Year vs. Feb. Forecast (Billion Yen) USD -1.1 EUR +1.8 CAD +1.6 Continued thorough AUD +2.9 efficiency GBP 0.0 improvements Other -0.5 Wholesales volume declined 10,000 units Fixed cost, Results Other Cost 8.8 Feb. + 5.4 Other Sales- Foreign I
Slide 35: Global Sales Volume And Consolidated Wholesales (3 Months)
Global Sales Volume And Consolidated Wholesales (3 Months) Fourth Quarter (Thousand units) FY March FY March Change from Global sales volume 2020 2021 Prior Year Japan 64 63 -1 -1% North America 92 111 +19 +21% Europe 45 43 -2 -4% China 36 50 +14 +37% Other Markets 76 90 +14 +18% Total 313 358 +44 +
Slide 36: FY March 2021 Financial Metrics (3 Months)
FY March 2021 Financial Metrics (3 Months) Fourth Quarter FY March FY March Change from (Billion Yen) 2020 2021 Prior Year Net sales 874.0 922.6 +48.6 +6% Operating profit 11.3 40.8 +29.5 +263% Ordinary profit 3.0 59.5 +56.5 - Profit before tax 1.5 56.7 +55.2 - Net income -20.3 46.5 +66.8 - Operatin
Slide 37: FY March 2021 Operating Profit Change (3 Months)
FY March 2021 Operating Profit Change (3 Months) FY March 2021 Fourth Quarter vs. FY March 2020 Fourth Quarter (Billion Yen) · Wholesales volume · Environmental USD -1.9 · Streamlined advertisement increased 8,000 regulation EUR +1.8 cost, overhead cost by units compliance cost CAD +0.5 improving ef
Slide 38: Exchange Rates
Exchange Rates Full Year FY March FY March Change from 2021 2022 Prior Year （Yen） US Dollar 106 109 +3 Euro 124 129 +5 Canadian Dollar 80 86 +6 Austrarian Dollar 76 84 +8 British Pound 139 151 +12 38
Slide 39: FY March 2022 Global Sales Volume And Consolidated Wholesales
FY March 2022 Global Sales Volume And Consolidated Wholesales Full Year (Thousand units) FY March FY March Change from Global sales volume 2021 2022 Prior Year Japan 176 195 +18 +10% North America 403 414 +11 +3% Europe 178 225 +46 +26% China 228 260 +32 +14% Other Markets 301 316 +15 +5% Total 1,28
Slide 40: Key Data
Key Data (Billion Yen) 155.0 132.6 135.0 127.4 128.0 93.0 92.3 95.0 89.8 FY March 2020 2021 2022 2020 2021 2022 2020 2021 2022 Capital Depreciation R&D Cost Expenditure Cost 40
Slide 41: Dividend Payment
Dividend Payment Trend of dividends per share Interim dividends Year-end dividends 35 35 35 35 30 20 20 20 20 15 15 10 15 15 15 15 15 15 1 10 0 FY March 2014 2015 2016 2017 2018 2019 2020 2021 2022 Results Plan Note) A share consolidation was implemented on common stock with a ratio of five shares t
Slide 42: Disclaimer
Disclaimer The projections and future strategies shown in this presentation are based on various uncertainties including, but not limited to, 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 M