Mazda Motor Corp. · TSE:7261
Mazda Motor — Q3 FY March 2023 Earnings Presentation
27 slides from Mazda Motor's earnings presentation, Feb 10, 2023
Slide 1: Financial Results for FY March 2023 Third Quarter
FINANCIAL RESULTS FOR FY MARCH 2023 THIRD QUARTER February 10, 2023 Mazda Motor Corporation M A Z DA M OTO R CO R PO RAT I O N
Slide 2: Presentation Outline
PRESENTATION OUTLINE ◼ FY March 2023 Nine Month Results ◼ FY March 2023 Full Year Forecast ◼ Summary M A Z DA M OTO R CO R P ORAT I ON 2
Slide 3: FY March 2023 Nine Month Results
FY MARCH 2023 NINE MONTH RESULTS M A Z DA M OTO R CO R P ORAT I ON 3
Slide 4: Nine Month Volume Results
FY MARCH 2023 NINE MONTH VOLUME RESULTS (Thousand Units) FY March 2023 Change from Prior Year 1st Half 3rd Quarter Nine Month 1st Half 3rd Quarter Nine Month Production Volume* 503 306 809 +37 +31 +68 +9% Consolidated Wholesales 450 287 737 -30 +80 +50 +7% Global Sales Volume Japan 68 39 107 +8 +4 +
Slide 5: FY March 2023 Nine Month Financial Metrics
FY MARH 2023 NINE MONTH FINANCIAL METRICS (Billion Yen) FY March 2023 Change from Prior Year 1st Half 3rd Quarter Nine Month 1st Half 3rd Quarter Nine Month Net Sales 1,642.5 1,053.8 2,696.3 +146.6 +387.3 +533.9 +25% Operating Income 55.2 54.3 109.5 +15.5 +30.3 +45.8 +72% Ordinary Income 110.4 25.0
Slide 6: Change in Nine Month Operating Income
CHANGE IN FY MARCH 2023 NINE MONTH OPERATING INCOME (vs. FY MARCH 2022 NINE MONTH) ·Impact of hikes in raw material prices, etc. of (Billion Yen) approx. –¥120.0 billion ·Cost improvement efforts of approx. +¥30.0 billion Foreign ·Volume increase, improvement in Exchange Cost per-unit price, reducti
Slide 7: FY March 2023 Full Year Forecast
FY MARCH 2023 FULL YEAR FORECAST M A Z DA M OTO R CO R P ORAT I ON 7
Slide 8: Full Year Global Sales Forecast
FY MARCH 2023 FULL YEAR GLOBAL SALES FORECAST Change from (Thousand Units) FY March 2022 FY March 2023 Change from Prior Year Nov. Forecast Full Year Full Year Full Year Full Year Consolidated Wholesales 991 1,087 +96 +10% -13 Global Sales Volume Japan 149 173 +25 +17% -8 North America 439 421 -18 -
Slide 9: Full Year Forecast Financial Metrics
FY MARCH 2023 FULL YEAR FORECAST FINANCIAL METRICS Change from (Billion Yen) FY March 2022 FY March 2023 Change from Prior Year November Forecast Full Year Full Year Full Year Full Year Net Sales 3,120.3 3,900.0 +779.7 +25% 0.0 Operating Income 104.2 150.0 +45.8 +44% +10.0 Ordinary Income 123.5 175.
Slide 10: Change in Full Year Operating Income (vs. FY March 2022)
CHANGE IN FY MARCH 2023 FULL YEAR OPERATING INCOME (vs. FY MARCH 2022 FULL YEAR) (Billion Yen) Foreign Exchange Cost ·Increase in wholesale volume by ·Increase in depreciation costs due to Improvement +96,000 units +111.9 investment for growth in Large products, etc. ·Improvement in per-unit price,
Slide 11: Change in Full Year Operating Income (vs. November Forecast)
CHANGE IN FY MARCH 2023 FULL YEAR OPERATING INCOME (vs. NOVEMBER FORECAST) (Billion Yen) ·Decrease in wholesales volume by -13,000 units ·Increase in provision for quality-related costs ·Improvement in per-unit price, etc. ·Fixed cost efficiency improvement, etc. Volume & Foreign Cost Fixed costs, M
Slide 12: Summary
SUMMARY ◼ The results for the first nine months show growth in both sales and profits year on year. Increase in consolidated wholesales, initiatives to improve per-unit prices and reduce marketing expenses, and the effect of weaker Japanese yen exchange rates more than offset the impact of hikes in
Slide 13: Slide 13
Slide 14: Appendix
APPENDIX M A Z DA M OTO R CO R P ORAT I ON 14
Slide 15: Japan
JAPAN ◼ Sales in the three months of the third quarter were up MAZDA CX-60 13% year on year, increasing year on year as in the second quarter ◼ Sales in the nine months were 107,000 units, up 14% year on year. Market share increased 0.4 points year on year to 3.6%, while registered vehicle market sh
Slide 16: North America
NORTH AMERICA ◼ USA: - Sales in the three months of the third quarter increased 34% year on year and also increased 10% from the second quarter. Sales performance is improving - In addition to the net increase in CX-50 sales, the CX-5, CX-30 and CX-9 contributed to the sales volume growth - Sales in
Slide 17: Europe
EUROPE ◼ Sales in the three months of the third quarter increased 3% year on year, thanks to the net increase in electrified MAZDA CX-60 models such as the CX-60, which was launched this fiscal year, and the Mazda2 Hybrid ◼ Sales in the nine months were 108,000 units, down 26% year on year. Market s
Slide 18: China
CHINA ◼ Sales in the three months of the third quarter decreased 48% year on year ◼ Sales in the nine months decreased to 72,000 units, down 46% year on year. Market share declined 0.3 points year on year to 0.4% ◼ Sales decreased year on year due to the impact of Nine Month Sales Volume & Market Sh
Slide 19: Other Markets
OTHER MARKETS ◼ Sales in the three months of the third quarter increased 6% year on year ◼ Sales in the nine months decreased to 220,000 units, down 1% year on year ◼ Australia: - Sales in the three months of the third quarter increased year on year as in the second quarter - Sales in the nine month
Slide 20: Production Volume
PRODUCTION VOLUME FY March 2022 FY March 2023 FY March 2023 FY March 2023 Fourth Quarter First Quarter Second Quarter Third Quarter 283,000 units 209,000 units 294,000 units 306,000 units Production Shanghai lockdown volume impact 112 (Thousand units) 104 104 104 100 101 98 92 92 91 87 58 47 Jan. Fe
Slide 21: Cash Flow and Net Cash
CASH FLOW AND NET CASH (Billion Yen) FY March 2022 FY March 2023 Change from Full Year Nine Month Prior FY End Cash Flow from Operating Activities 189.2 49.7 - Cash Flow from Investing Activities -136.2 -71.7 - Free Cash Flow 52.9 -22.0 - Cash and Cash Equivalents 740.4 757.9 +17.5 Interest-bearing
Slide 22: Third Quarter Global Sales and Consolidated Wholesales (3 Months)
FY MARCH 2023 THIRD QUARTER GLOBAL SALES AND CONSOLIDATED WHOLESALES (3 MONTHS) (Thousand Units) FY March 2022 FY March 2023 Change from Prior Year Global Sales Volume 3rd Quarter 3rd Quarter 3rd Quarter Japan 35 39 +4 +13% North America 84 107 +23 +27% Europe 40 41 +1 +3% China 45 23 -21 -48% Other
Slide 23: Third Quarter Financial Metrics (3 Months)
FY MARCH 2023 THIRD QUARTER FINANCIAL METRICS (3 MONTHS) (Billion Yen) FY March 2022 FY March 2023 Change from Prior Year 3rd Quarter 3rd Quarter 3rd Quarter Net Sales 666.5 1,053.8 +387.3 +58% Operating Income 24.0 54.3 +30.3 +127% Ordinary Income 25.7 25.0 -0.7 -2% Income before Income Taxes 15.0
Slide 24: Change in Third Quarter Operating Income
CHANGE IN FY MARCH 2023 THIRD QUARTER OPERATING INCOME (vs. FY MARCH 2022 THIRD QUARTER) ·Impact of hikes in raw material prices, etc. of (Billion Yen) approx. –¥40.0 billion ·Cost improvement efforts of approx. +¥10.0 billion Foreign ·Increase in depreciation costs due to Exchange ·Increase in whol
Slide 25: Exchange Rate
EXCHANGE RATE Change from (Yen) FY March 2023 Change from Prior Year Nov. Forecast 1Q 2Q 3Q 4Q Full Year 1Q 2Q 3Q 4Q Full Year Full Year US Dollar 130 138 141 128 134 +20 +28 +28 +11 +22 -2 Euro 138 139 144 138 140 +6 +9 +14 +7 +9 +1 Canadian Dollar 102 106 104 95 102 +13 +19 +14 +3 +12 -1 Australia
Slide 26: Dividend Payment
DIVIDEND PAYMENT Dividends Per Share (Yen) Interim Dividends 40 Year-end Dividends 35 35 35 35 30 20 20 20 20 20 15 20 10 20 20 15 15 15 15 15 10 1 0 FY March 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Results Plan Note: A share consolidation was implemented on common stock with a ratio of fi
Slide 27: Disclaimer
DISCLAIMER The projections and future strategies shown in this presentation are based on various uncertainties including but not limited to conditions of the world economy in the future, trends in the automotive industry, and the risk of exchange rate fluctuations. Consequently, Mazda's actual perfo