Bridgestone Corporation · TSE:5108
Bridgestone — H1 2018 Earnings Presentation
17 slides from Bridgestone's earnings presentation, Aug 9, 2018
Slide 1: Financial Results for 1st Half of Fiscal 2018
Financial Results for 1st Half of Fiscal 2018 Bridgestone Corporation August 9, 2018
Slide 2: Agenda
１. Business and Financial Performance P.3 for 1st Half of Fiscal 2018 ２. Consolidated Projections for Fiscal 2018 P.10 2 /17
Slide 3: 1. Business and Financial Performance for 1st Half of Fiscal 2018
1. Business and Financial Performance for 1st Half of Fiscal 2018 3 /17
Slide 4: Business Environment Surrounding Bridgestone Group
Business Environment Surrounding Bridgestone Group ●USD: Stronger JPY, EUR: Weaker JPY vs PY Currency Exchange 1USD=109yen, 1EUR=131yen （Ref.）2017H1：1USD＝112yen 1EUR＝122yen Raw Material ●Natural Rubber : Lower vs PY Prices Crude Oil : Higher vs PY ●Despite weaker demand in Japan due to early buying
Slide 5: Tire Sales Growth for 1st Half of Fiscal 2018
Tire Sales Growth for 1st Half of Fiscal 2018 (Year-on-Year, unit base) PSR TBR ORR ※ OE & REP OE & REP Global 99％ Global 103％ Ultra-Large 115％ Large 105％ OE OE Japan 103% Japan 97% -Steady growth in H1 N. America 112% N. America 136% Europe 102% Europe 116% China/ China/ Asia Pacific 109％ Asia Paci
Slide 6: Consolidated Results for 1st Half of Fiscal 2018
Consolidated Results for 1st Half of Fiscal 2018 (Yen in billions) Note: Figures within parentheses mean minus (Ref. Feb 16, 2018 2017 2018 announcement) vs PY（%） 1 Half Results st 1 Half Results st 2018 1 Half Projections st Net Sales 1,742.8 1,775.4 +2 1,810.0 Tires 1,439.7 1,474.0 +2 1,490.0 Dive
Slide 7: Analysis of Consolidated Operating Income
Analysis of Consolidated Operating Income for 1st Half of Fiscal 2018 (Yen in billions) 250 230 SGA Raw Materials 210 (16.0) Depreciation Price, Mix, +17.0 Volume etc. Foreign (3.0) (0.9) Exch. Gain 190 ±0.0 170 202.3 199.4 150 130 110 2017 H1 2018 H1 Operating Income (2.9) Operating Income Note: Fi
Slide 8: Financial Results: Geographic Segments
Financial Results for 1st Half of Fiscal 2018: (Yen in billions) Geographic Segments Note: Figures within parentheses mean minus (Ref. Feb 16, 2018 2017 2018 announcement) vs PY（%） 1 Half Results st 1 Half Results st 2018 1st Half Projections Consolidated 1,742.8 1,775.4 +2 1,810.0 Net Sales Japan 5
Slide 9: B/S Highlights
B/S Highlights for 1st Half of Fiscal 2018 (Yen in billions) Note: Figures within parentheses mean minus FY 2017 FY 2018 1st Half (As of Dec.31, 2017) (As of Jun.30, 2018) vs Dec. 31, 2017 Total Assets 3,959.0 3,789.5 (169.5) incl. Total Current Assets 1,987.0 1,908.0 (78.9) incl. Total Fixed Assets
Slide 10: 2. Consolidated Projections for Fiscal 2018
2. Consolidated Projections for Fiscal 2018 10 /17
Slide 11: Forecast of Business Environment Surrounding Bridgestone Group
Forecast of Business Environment Surrounding Bridgestone Group (“Projection”; released on Feb. 16 , 2018) th ●USD: Stronger JPY, EUR: Weaker JPY vs PY Currency 1USD=108yen, 1EUR=128yen Exchange （Ref.）2017 FY 1USD＝112yen 1EUR＝127yen Projection FY 1USD＝108yen 1EUR＝132yen Raw Material ●Natural Rubber :
Slide 12: Tire Sales Growth Projections for Fiscal 2018
Tire Sales Growth Projections for Fiscal 2018 (Year-on-Year, unit base) PSR TBR ORR ※ OE & REP OE & REP Global ～+5% Global +6%～+10% Ultra-Large 120％ Large 110％ OE OE Japan ～+5% Japan around ±0% -Sustained growth in N. America +11%～+15% N. America +21%～+25% Ultra-Large and Large ORR Europe ～+5% Europ
Slide 13: Consolidated Projections for Fiscal 2018
Consolidated Projections for Fiscal 2018 (Yen in billions) （Ref. Feb 16, 2018 2017 2018 announcement） VS PY（%） Results Projections 2018 Projections Net Sales 3,643.4 3,700.0 +2 3,800.0 Tires 3,031.1 3,080.0 +2 3,170.0 Diversified 627.8 620.0 (1) 640.0 Products Operating Income 419.0 430.0 +3 463.0 (
Slide 14: Analysis of Consolidated Operating Income for Fiscal 2018
Analysis of Consolidated Operating Income for Fiscal 2018 (Yen in billions) Exchange rate Sensitivity 450 Price, Mix, (full year) Volume etc. SGA USD: 3.5bil Yen EUR: 0.5bil Yen +56.9 (35.0) Foreign 400 Exch. Gain (10.0) Depreciation Raw Materials (8.0) +7.0 430.0 419.0 350 300 2017 2018 Operating I
Slide 15: Projections for Fiscal 2018: Geographic Segments
Projections for Fiscal 2018: (Yen in billions) Geographic Segments Note: Figures within parentheses mean minus (Ref. Feb 16, 2018 2017 2018 announcement) vs PY（%） Results Projections 2018 Projections Consolidated 3,643.4 3,700.0 +2 3,800.0 Net Sales Japan 1,147.8 1,180.0 +3 1,200.0 The Americas 1,77
Slide 16: Summary
Summary Consolidated Financial Results H1 In line with the guidance on operating income Results with proper SGA control FY Increase operating income from PY through; Projection -sales growth incl. Solution business -continuous sales mix improvement Highlights ●Steady demand growth globally, sales gr
Slide 17: 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