Tata Motors Limited · NSE:TMCV
Tata Motors — FY2015 Earnings Presentation
28 slides from Tata Motors's earnings presentation, Jun 1, 2015
Slide 1: Jaguar Land Rover Results for the year ended 31 March 2015
JAGUAR LAND ROVER Jaguar Land Rover Results For the year ended 31 March 2015 26 May 2015
Slide 2: Disclaimer
Disclaimer JAGUAR LAND ROVER Statements in this presentation describing the objectives, projections, estimates and expectations of Jaguar Land Rover Automotive plc and its direct and indirect subsidiaries (the “Company”, “Group” or “JLR”) may be “forward-looking statements” within the meaning of app
Slide 3: Participants
Participants JAGUAR LAND ROVER Kenneth Gregor CFO, Jaguar Land Rover Bennett Birgbauer Treasurer, Jaguar Land Rover C. Ramakrishnan CFO, Tata Motors 3
Slide 4: Agenda
Agenda JAGUAR LAND ROVER Key topics Page Financial performance 5 New products and other developments 14 Closing Q&A 19 4
Slide 5: Full year FY15 financial highlights vs prior year
Full year FY15 financial highlights vs prior year Record sales, revenue and profits JAGUAR LAND ROVER Retail volumes 462,209, up 6.4%, with Land Rover up 8.9% and Jaguar down (4.5)% Revenue £21.9bn, up £2.5bn EBITDA £4.1bn, up £0.7bn, with an EBITDA margin of 18.9% PBT of £2.6bn, up £0.1bn PAT of £2
Slide 6: Key financial metrics
Key financial metrics JAGUAR LAND ROVER Key metrics - IFRS Quarter ended 31 March 12 months ended 31 March (£ millions, unless stated) 2015 2014 Change 2015 2014 Change Retail volumes (‘000 units)* 124.3 124.8 (0.5) 462.2 434.3 27.9 Wholesale volumes (‘000 units)* 129.2 121.0 8.2 470.5 429.9 40.6 Re
Slide 7: Solid performance for FY15
Solid performance for FY15 JAGUAR LAND ROVER Land Rover retail volumes of 385.3k units, up 8.9% - all models up apart from the Freelander which has been discontinued with the introduction of the all new Discovery Sport Jaguar retail volumes of 76.9k, down (4.5)% - F-TYPE up, XF and XJ down, with ret
Slide 8: Quarterly retail volumes by geography
Quarterly retail volumes by geography Total retail sales of 124.3k flat overall JAGUAR LAND ROVER UK Up 15.6% 28.7 24.8 19.4 23.8 5.5 4.9 Q4FY14 Q4FY15 Europe Up 6.2% 24.9 26.5 21.4 23.7 3.5 2.7 Q4FY14 Q4FY15 North America Up 17.0% 23.3 19.9 14.8 18.6 5.1 4.7 Q4FY14 Q4FY15 Asia Pacific Up 14.4% 7.2
Slide 9: 12 month retail volumes by geography
12 month retail volumes by geography Total retail sales of 462.2k up 6.4% overall JAGUAR LAND ROVER UK Up 13.1% 86.8 76.7 60.0 68.9 16.7 17.9 FY14 FY15 Europe Up 6.0% 82.9 87.9 71.5 78.1 11.3 9.7 FY14 FY15 North America Up 3.6% 75.7 78.4 56.2 61.6 19.5 16.8 FY14 FY15 Asia Pacific Up 16.8% 26.6 22.8
Slide 10: Income statement
Income statement JAGUAR LAND ROVER Consolidated income statement - IFRS Quarter ended 31 March 12 months ended 31 March (£ millions, unless stated) 2015 2014 Change 2015 2014 Change Revenues 5,826 5,349 477 21,866 19,386 2,480 Material and other cost of sales (3,417) (3,291) (126) (13,185) (11,904)
Slide 11: Healthy cash flow to support investment
Healthy cash flow to support investment JAGUAR LAND ROVER Consolidated cash flow - IFRS Quarter ended 31 March 12 months ended 31 March (£ millions, unless stated) 2015 2014 Change 2015 2014 Change EBITDA 1,016 920 96 4,132 3,393 739 Working capital changes 205 517 (312) (47) 393 (440) Tax paid (147
Slide 12: Solid financing structure
Solid financing structure JAGUAR LAND ROVER Key financial indicators - IFRS (£ millions, unless stated) March 2015 March 2014 Change Cash and cash equivalents 3,208 2,260 948 Financial deposits 1,055 1,199 (144) Cash and financial deposits 4,263 3,459 804 Long term undrawn credit facilities 1,485 1,
Slide 13: Agenda
Agenda JAGUAR LAND ROVER Key topics Page Financial performance 5 New products and other developments 14 Closing Q&A 19 13
Slide 14: Exciting recent products
Exciting recent products JAGUAR LAND ROVER Discovery Sport – went on sale Feb 2015 Ingenium engine - Launched in the Jaguar XE. Available in the Discovery Sport and Range Rover Evoque later this year CJLR Evoque – went on sale Feb 2015 Jaguar XE – went on sale May 2015 14
Slide 15: Future products
Future products JAGUAR LAND ROVER All new lightweight XF goes on sale later this year Evoque Convertible goes on sale in 2016 F-PACE goes on sale in 2016 15
Slide 16: Other developments
Other developments JAGUAR LAND ROVER 2015 Queen’s Award for “Sustainable Development” reflecting investment in: – Lightweight aluminium engineering – Ingenium engine technology – Reducing energy consumption, waste and water usage at manufacturing sites £600mn of new investments announced in the UK –
Slide 17: Looking ahead
Looking ahead JAGUAR LAND ROVER Jaguar Land Rover remains focused on delivering more great products in FY16 Continue to ramp up sales of the new Jaguar XE in May and prepare to launch the all new Jaguar XF followed by 16MY Evoque including a convertible variant and the F-PACE in early 2016 Investing
Slide 18: Agenda
Agenda Key topics Page Financial performance 5 New products and other developments 14 Closing Q&A 19 18
Slide 19: Q&A
JAGUAR LAND ROVER Q&A Kenneth Gregor CFO, Jaguar Land Rover 19
Slide 20: Thank You
JAGUAR LAND ROVER Thank You Kenneth Gregor CFO, Jaguar Land Rover C. Ramakrishnan CFO, Tata Motors Bennett Birgbauer Treasurer, Jaguar Land Rover Jaguar Land Rover Investor Relations investor@jaguarlandrover.com Tata Motors Investor Relations Ir_tml@tatamotors.com Jaguar Land Rover Abbey Road, Whitl
Slide 21: Additional slides
JAGUAR LAND ROVER Additional slides 21
Slide 22: Quarterly retail volumes by carline
JAGUAR LAND ROVER Quarterly retail volumes by carline Total retail sales of 124.3k flat overall Jaguar - Q4FY14 vs Q4FY15 Down (19.3)% F-TYPE XK XJ XF XE 24.0 1.0 2.3 5.5 15.1 Q4FY14 0.3 19.4 2.9 3.8 12.4 Q4FY15 Land Rover - Q4FY14 vs Q4FY15 Up 4.1% 100.7 13.1 23.2 32.5 11.3 - 15.8 4.9 Q4FY14 104.9*
Slide 23: Quarterly wholesale volumes by carline
JAGUAR LAND ROVER Quarterly wholesale volumes by carline Wholesales of 129.2k up 6.8% overall Jaguar - Q4FY14 vs Q4FY15 Down (6.7)% F-TYPE XK XJ XF XE 1.0 21.5 5.1 1.5 13.8 Q4FY14 0.2 20.1 2.9 3.7 13.4 Q4FY15 Land Rover - Q4FY14 vs Q4FY15 Up 9.8% 99.4 12.7 22.7 31.6 11.6 - 16.4 4.5 0.8 Q4FY14 109.1*
Slide 24: Quarterly wholesale volumes by geography
JAGUAR LAND ROVER Quarterly wholesale volumes by geography Wholesales of 129.2k up 6.8% overall UK Up 24.6% 24.9 19.7 5.2 Q4FY14 31.0 25.2 5.8 Q4FY15 North America Up 34.7% 18.2 13.7 4.5 Q4FY14 24.5 20.1 4.4 Q4FY15 China Down (20.7)% 29.2 24.3 4.9 Q4FY14 23.2 19.3* 3.9 Q4FY15 Mar FY15 Asia Pacific,
Slide 25: 12 month retail volumes by carline
JAGUAR LAND ROVER 12 month retail volumes by carline Total retail sales of 462.2k, up 6.4% overall Jaguar - FY14 vs FY15 Down (4.5)% F-TYPE XK XJ XF XE 3.3 80.5 8.6 20.0 48.6 FY14 2.6 76.9 12.1 16.6 45.7 FY15 Land Rover - FY14 vs FY15 Up 8.9% 353.8 46.2 66.5 122.8 45.1 - 56.1 17.1 FY14 385.3* 57.1 8
Slide 26: 12 month wholesale volumes by carline
JAGUAR LAND ROVER 12 month wholesale volumes by carline Total wholesales of 470.5k up 9.5% overall Jaguar - FY14 vs FY15 Down (3.5)% F-TYPE XK XJ XF XE 3.2 79.3 10.1 19.3 46.7 FY14 2.1 76.5 12.2 16.3 45.9 FY15 Land Rover - FY14 vs FY15 Up 12.4% 350.6 45.8 66.1 120.9 44.3 - 56.7 16.7 FY14 394.0* 61.4
Slide 27: 12 month wholesale volumes by geography
JAGUAR LAND ROVER 12 month wholesale volumes by geography Total wholesales of 470.5k up 9.5% overall UK Up 16.1% 75.9 58.7 17.1 FY14 88.1 70.1 18.0 FY15 North America Up 10.7% 71.4 53.1 18.3 FY14 79.0 63.5 15.5 FY15 China Up 14.8% 103.9 84.5 19.4 FY14 119.3 98.2* 21.1 FY15 Mar FY15 Asia Pacific, 6%
Slide 28: Product and other investment
JAGUAR LAND ROVER Product and other investment Key financial indicators - IFRS Quarter ended 31 March 12 months ended 31 March (€ millions, unless stated) 2015 2014 Change 2015 2014 Change R&D expense Capitalised 308 258 50 1,158 1,030 128 Expensed 73 69 4 253 236 17 Total R&D expense 381 327 54 1,4