Bridgestone Corporation · TSE:5108
Bridgestone — H1 2023 Earnings Presentation
12 slides from Bridgestone's earnings presentation, Aug 9, 2023
Slide 1: Summary of Financial Results for 1st Half 2023 & Fiscal 2023 Guidance
Summary of Financial Results for 1st Half 2023 & Fiscal 2023 Guidance August 9, 2023 Member of the Board Global CEO and Representative Executive Officer Shu Ishibashi
Slide 2: Summary
Summary 1. Business environment assessment (tire demand trend) 2. Toward a “strong” Bridgestone capable of adapting to change 3. Summary of financial results for 1st Half 2023 4. Fiscal 2023 guidance 2/11
Slide 3: Summary: Business environment
Summary < Business environment > 1st Half & full year 2023: Replacement tire demand in North America & Europe is more severe than initial assumptions ◼ Managed “increase in premium tire sales volume and improvement in price and sales mix” flexibly & agilely; Secured financial results for 1st Half, p
Slide 4: Business environment assessment - Original equipment tires (PS/TB)
1. Business environment assessment - Original equipment tires (PS/TB) - PS/TB demand - OE - Demand for PS 18 inch and above - OE - Trend from 2020 to 2023 - common for PS & TB* - Trend from 2020 to 2023 (N. America & Europe) • Demand declined from COVID-19 impacts in 2020 and shortage of semiconduct
Slide 5: Business environment assessment - Passenger car tires (replacement)
1. Business environment assessment - Passenger car tires (replacement) - PS demand - REP - Demand for PS 18 inch and above - REP - Trend from 2020 to 2023 (N. America & Europe) Trend from 2020 to 2023 (N. America & Europe) • Until 1H 2022, sell-in demand recovered reflecting sell-out recovery from C
Slide 6: Business environment assessment - Truck & bus tires (replacement)
1. Business environment assessment - Truck & bus tires (replacement) - TB demand - REP - Trend from 2020 to 2023 (N. America & Europe) • 2021-1H 2022: Sell-out recovered reflecting economic recovery from COVID-19 impacts • 2H 2022: Sell-out in Europe faced severe conditions from economic recession.
Slide 7: Toward a strong Bridgestone: Passenger car tires
2. Toward a “strong” Bridgestone capable of adapting to change: Passenger car tires ◼ 2023 full year: Thoroughly ensure focus on premium which is relatively resilient Expand sales, increase market share, improve sales mix and enhance strategic price management to improve business quality based on Da
Slide 8: Toward a strong Bridgestone: Truck & bus tires + Retread
2. Toward a “strong” Bridgestone capable of adapting to change: Truck & bus tires + Retread - replacement - ◼ 2023 full year: Amidst the decline in new tire sales, thoroughly ensure focus on premium Grow the retread business in N. America & Japan to contribute to overall TB business performance as w
Slide 9: Toward a strong Bridgestone: Off-the-road tires for mining vehicles
2. Toward a “strong” Bridgestone capable of adapting to change: Off-the-road tires for mining vehicles ◼ 2023 full year: Plan sales expansion around Dan-Totsu product Bridgestone MASTERCORE in the ultra-large and large categories. Build foundations of solutions linked with MASTERCORE for the 24MBP.
Slide 10: Summary of financial results for 1st Half 2023
3. Summary of financial results for 1st Half 2023 Summary Explanation of 1H results ◼ Ensure thorough focus on premium⇒Improve business quality ① Revenue Expansion of premium tire sales ◼ Achieved sales expansion of premium passenger car (premium tires such as PS HRD tires, OR tires, etc.) tires a
Slide 11: Fiscal 2023 Guidance
3. Fiscal 2023 Guidance ◼ Fiscal 2023 guidance: No changes from figures announced in February 2023 • As the business environment is expected to be more severe than in initial assumptions, focus on improving business quality Build foundation • Carefully watch demand trend and thoroughly ensure flexib
Slide 12: Forward-looking statements disclaimer
Statements made in this presentation with respect to Bridgestone's current plans, estimates, strategies and beliefs and other statements that are not historical facts are forward-looking statements about the future performance of Bridgestone. Forward-looking statements include, but are not limited t