Mitsubishi Motors Corporation · TSE:7211
Mitsubishi Motors — Q3 2020 Earnings Presentation
23 slides from Mitsubishi Motors's earnings presentation, Feb 3, 2021
Slide 1: FY2020 Third-Quarter Financial Results
a. MITSUBISHI MOTORS FY2020 Third-Quarter Financial Results February 2, 2021
Slide 2: Agenda
1. 3Q YTD/FY2020 Financial Results 2. FY2020 Financial Forecast 3. Business Highlight 2
Slide 3: 3Q YTD/FY2020 Financial Results Summary (vs. 3Q YTD/FY2019)
3Q YTD/FY2020 Financial Results Summary (vs. 3Q YTD/FY2019) (Billion yen, 000 units) 1,666.9 952.8 -714.1 229.5 345.4 377.9 3.6 -86.7 -90.3 -53.3 -29.3 -4.1 (0.2%) -2.7 -92.9 -90.2 -58.7 -28.3 -5.9 -11.8 -244.0 -232.2 -176.2 -33.7 -34.1 -120.0 -169.2 -49.2 -211.5 8.5 33.8 876 569 -307 139 212 218 *
Slide 4: 3Q YTD/FY2020 Operating Profit Variance (vs. 3Q YTD/FY2019)
3Q YTD/FY2020 Operating Profit Variance (vs. 3Q YTD/FY2019) Japan -9.9 FX rate (Yen) (billion yen) Effect 3Q YTD 3Q YTD (bill yen) ASEAN -48.5 /FY19 /FY20 China, others -4.0 USD 109 106 -3.3 North America -16.4 EUR 121 122 +0.8 Europe -16.6 THB 3.52 3.35 +6.6 Australia/NZ -5.3 AUD 75 74 -0.8 Others
Slide 5: 3Q/FY2020 Operating Profit Variance (vs. 3Q/FY2019)
3Q/FY2020 Operating Profit Variance (vs. 3Q/FY2019) FX rate (Yen) Effect (billion yen) Japan +0.1 (bill yen) 3Q/FY19 3Q/FY20 ASEAN -8.5 USD 109 105 -0.6 China, others -0.7 EUR 120 124 +0.4 North America -4.7 THB 3.58 3.35 +3.1 Europe -2.5 AUD 74 75 +0.2 Australia/NZ +0.4 RUB 1.70 1.35 -1.1 Others -5
Slide 6: 3Q YTD/FY2020 Sales Volume Results (vs. 3Q YTD/FY2019)
3Q YTD/FY2020 Sales Volume Results (vs. 3Q YTD/FY2019) Retail sales (000 units) GLOBAL -307 (-35%) ASEAN -100 (-43%) Australia/NZ -19 (-28%) Japan -25 (-37%) China, others -42 (-34%) North America -40 (-35%) Europe -51 (-31%) Latin America, Middle -30 (-28%) East/Africa, etc. 3Q YTD/FY2019 3Q YTD/FY
Slide 7: Agenda: FY2020 Financial Forecast
1. 3Q YTD/FY2020 Financial Results 2. FY2020 Financial Forecast 3. Business Highlight 7
Slide 8: FY2020 Financial Forecast
FY2020 Financial Forecast (Billion yen, 000 units) 2,270.3 1,460.0 -810.3 -36% -20.0 12.8 -100.0 -112.8 - +40.0 (0.6%) -3.8 -120.0 -116.2 - +40.0 -25.8 -330.0 -304.2 - +30.0 1,127 802 -325 -29% -22 * Net income attributable to owners of the parent 8
Slide 9: FY2020 Operating Profit Variance Forecast (vs. FY2019)
FY2020 Operating Profit Variance Forecast (vs. FY2019) Japan -1.2 FX rate (Yen) Effect (billion yen) FY2019 FY2020 (bill yen) ASEAN -49.0 USD 109 105 -5.8 China, others -5.3 EUR 121 123 +1.1 North America -19.7 THB 3.52 3.38 +9.4 Europe -28.3 AUD 75 74 -0.6 Australia/NZ -2.7 RUB 1.69 1.38 -2.4 Other
Slide 10: FY2020 Operating Profit Variance Forecast (vs. Previous Forecast)
FY2020 Operating Profit Variance Forecast (vs. Previous Forecast) FX rate (Yen) Effect (billion yen) Previous Revised (bill yen) USD 106 105 -0.1 EUR 122 123 +0.1 THB 3.38 3.38 +0.2 AUD 74 74 +0.7 RUB 1.38 1.38 0.0 Others - - +0.5 Aftersales +2.2 Domestic Japan 0.0 subsidiary +1.9 ASEAN -9.6 P/L Chi
Slide 11: FY2020 Sales Volume Forecast (vs. FY2019)
FY2020 Sales Volume Forecast (vs. FY2019) Retail sales (000 units) GLOBAL -325 (-29%) ASEAN -94 (-32%) Australia/NZ -18 (-20%) Japan -20 (-21%) China, others -37 (-26%) North America -48 (-30%) Europe -69 (-32%) Latin America, Middle -39 (-29%) East/Africa, etc. FY2019 FY2020 (APR 2019-MAR 2020) (AP
Slide 12: Agenda: Business Highlight
1. 3Q YTD/FY2020 Financial Results 2. FY2020 Financial Forecast 3. Business Highlight 12
Slide 13: Progress of Structural Reforms
Progress of Structural Reforms ■ Headcount rationalization (reallocation, restraint on new hiring Indirect labor cost and voluntary retirement plan), Compensation system revision ☺ ■ Restraining non-core regions in line with "selection and Marketing expenses concentration“ 😄 ■ Allocation in line…
Slide 14: New Model
New Model 3Q 4Q New ECLIPSE CROSS OUTLANDER PHEV (starting production in Thailand) New DELICA D:2 will be unveiled in February 16 (PST) eK X (special edition) 14
Slide 15: Drive your Ambition
ae MITSUBISHI MOTORS Drive your Ambition
Slide 16: Appendix
MITSUBISHI MOTORS APPENDIX
Slide 17: 3Q/FY2020 Balance Sheet (vs. FY2019)
3Q/FY2020 Balance Sheet (vs. FY2019) (billion yen) Variance Total Assets 1,938.1 1,790.5 -147.6 Cash & Deposits 399.6 502.6 +103.0 Total Liabilities 1,149.7 1,238.2 +88.5 Interest-bearing Debt* 299.4 533.3 +233.9 Total Net Assets 788.4 552.3 -236.1 Shareholders’ Equity 772.7 536.8 -235.9 (Equity Rat
Slide 18: 3Q YTD/FY2020 Capital Expenditure, R&D Expense and Depreciation
3Q YTD/FY2020 Capital Expenditure, R&D Expense and Depreciation CAPEX R&D Expense Depreciation ¥44.3 bn ¥72.8 bn ¥48.0 bn -33% (YoY) -27% (YoY) -13% (YoY) (¥bn) 6% 5% 4% 3% 2% 1% 0% 3 Q 1Y T D 3Q 2 YTD 3 3 Q 4Y T D 3 Q 5Y T D 6 3 Q 7Y T D 3 Q 8Y T D /FY2019 /FY2020 /FY2019 /FY2020 /FY2019 /FY2020 (A
Slide 19: 3Q YTD/FY2020 Regional Performance (vs. 3Q YTD/FY2019)
3Q YTD/FY2020 Regional Performance (vs. 3Q YTD/FY2019) Net Sales Operating Profit (billion yen) 3Q YTD 3Q YTD 3Q YTD 3Q YTD /FY2019 /FY2020 Variance /FY2019 /FY2020 Variance (APR–DEC 2019) (APR–DEC 2020) (APR–DEC 2019) (APR–DEC 2020) GLOBAL 1,666.9 952.8 -714.1 3.6 -86.7 -90.3 ‐ Japan 332.5 289.2 -4
Slide 20: FY2020 Regional Sales Forecast (vs. FY2019)
FY2020 Regional Sales Forecast (vs. FY2019) (billion yen) Variance GLOBAL 2,270.3 1,460.0 -810.3 ‐ Japan 460.5 428.0 -32.5 ‐ ASEAN 551.9 326.0 -225.9 ‐ China, others 41.7 18.0 -23.7 ‐ North America 315.1 200.0 -115.1 ‐ Europe 474.7 177.0 -297.7 ‐ Australia/NZ 176.8 165.0 -11.8 ‐ Others 249.6 146.0 -
Slide 21: FY2020 Capital Expenditure, R&D Expense and Depreciation Forecast
FY2020 Capital Expenditure, R&D Expense and Depreciation Forecast CAPEX R&D Expense Depreciation ¥83.0 bn ¥102.0 bn ¥66.0 bn -20% (YoY) -22% (YoY) -12% (YoY) (¥bn) 6% 5% 4% 3% 2% 1% 0% FY2019 1 FY2020 2 3 FY2019 4 FY2020 5 6 FY2019 7 FY2020 8 (APR 2019-MAR 2020) (APR 2020-MAR 2021) (APR 2019-MAR 202
Slide 22: FY2020 Shareholder Returns
FY2020 Shareholder Returns Dividend per share: ¥0 (¥) 25 20 15 10 5 0 22
Slide 23: Forward-looking statements disclaimer
This presentation contains forward-looking statements, based on judgments and estimates that have been made on the basis of currently available information. By nature, such statements are subject to uncertainty and risk. Therefore, you are advised that the final results might be significantly differ