Bridgestone Corporation · TSE:5108
Bridgestone — FY2017 Earnings Presentation
19 slides from Bridgestone's earnings presentation, Feb 16, 2018
Slide 1: Financial Results for Fiscal 2017
Financial Results for Fiscal 2017 Bridgestone Corporation February 16, 2018
Slide 2: Business and Financial Performance; Consolidated Projections
１. Business and Financial Performance P.3 for Fiscal 2017 ２. Consolidated Projections for Fiscal 2018 P.10 2 /19
Slide 3: Business and Financial Performance for Fiscal 2017
1. Business and Financial Performance for Fiscal 2017 3 /19
Slide 4: Business Environment Surrounding Bridgestone Group
Business Environment Surrounding Bridgestone Group Currency ●Weaker Japanese Yen than PY Exchange ●1USD=112yen 1EUR=127yen （Ref.）16FY 1USD＝109yen 1EUR＝120yen Raw Material ●Higher than PY Prices ●Despite a reduction in vehicle production in Tire Demand North America, PSR/TBR tire demand (PSR/TBR) con
Slide 5: Tire Sales Growth for FY of Fiscal 2017
Tire Sales Growth for FY of Fiscal 2017 (Year-on-Year, unit base) PSR TBR ORR ※ OE & REP OE & REP Global 101％ Global 107％ Ultra-Large 115％ Large 135％ OE OE Japan 112% Japan 103% Increased substantially N. America 98% N. America 119% Europe 110% Europe 107% China/ China/ Asia Pacific 106％ Asia Pacifi
Slide 6: Consolidated Results for Fiscal 2017
Consolidated Results for Fiscal 2017 (Yen in billions) Note: Figures within parentheses mean minus （Ref. Nov 9, 2017 2016 2017 vs PY（%） announcement） Results Results 2017 Projections Net Sales 3,337.0 3,643.4 +9 3,650.0 Tires 2,765.7 3,031.1 +10 3,040.0 Diversified 585.7 627.8 +7 620.0 Products Oper
Slide 7: Analysis of Consolidated Operating Income for Fiscal 2017
Analysis of Consolidated Operating Income for Fiscal 2017 (Yen in billions) 500 Raw Materials 450 (120.0) Price, Mix, Volume etc. +100.5 400 449.5 419.0 350 SGA Foreign (19.0) Depreciation Exch. Gain +15.0 (7.0) 300 2016 2017 Operating Income (30.5) Operating Income Note: Figures within parentheses
Slide 8: Financial Results for Fiscal 2017: Geographic Segments
Financial Results for Fiscal 2017: (Yen in billions) Geographic Segments Note: Figures within parentheses mean minus （Ref. Nov 9, 2017 2016 2017 announcement） vs PY（%） Results Results 2017 Projections Consolidated 3,337.0 3,643.4 +9 3,650.0 Net Sales Japan 1,080.6 1,147.8 +6 1,140.0 The Americas 1,6
Slide 9: B/S and C/F Highlights for Fiscal 2017
B/S and C/F Highlights for Fiscal 2017 (Yen in billions) Note: Figures within parentheses mean minus FY 2016 FY 2017 (As of Dec. 31, 2016) (As of Dec. 31, 2017) vs Dec. 31, 2016※ Total Assets 3,716.0 3,959.0 +243.0 Total Equity 2,345.8 2,402.7 +56.9 Ratio of total equity to total assets (%) 61.5 59.
Slide 10: Consolidated Projections for Fiscal 2018
2. Consolidated Projections for Fiscal 2018 10 /19
Slide 11: Forecast of Business Environment Surrounding Bridgestone Group
Forecast of Business Environment Surrounding Bridgestone Group Currency ●USD: Stronger, Euro: Weaker Exchange Japanese yen than PY Raw Material ●FY assumption is same level as PY Prices Tire Demand ●Trend of steady growth continues globally (PSR/TBR) Currency Exchange Assumption Tire Demand (Year-on
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 +6%～+10% Global +6%～+10% Ultra-Large 120％ Large 105％ OE OE Japan around ±0% Japan ～+5% Grow throughout the N. America +6%～+10% N. America ～+5% year Europe around ±0% Europe ～+5% China/ Chin
Slide 13: Consolidated Projections for Fiscal 2018
Consolidated Projections for Fiscal 2018 (Yen in billions) Note: Figures within parentheses mean minus 2017 2018 vs PY（%） Results Projections Net Sales 3,643.4 3,800.0 +4 Tires 3,031.1 3,170.0 +5 Diversified Products 627.8 640.0 +2 Operating Income 419.0 463.0 +10 (Ratio) 11.5% (Ratio) 12.2% (Ratio)
Slide 14: Analysis of Consolidated Operating Income for Fiscal 2018
Analysis of Consolidated Operating Income for Fiscal 2018 (Yen in billions) 500 Price, Mix, Volume etc. Exchange rate +112.9 Sensitivity(full year) 450 SGA USD: 3.5bil yen EUR: 0.5bil yen (44.0) 400 Depreciation Foreign (16.0) Exch. Loss Raw 463.0 (11.0) Materials 350 419.0 +2.0 300 2017 2018 Operat
Slide 15: Financial Projections for Fiscal 2018: Geographic Segments
Financial Projections for Fiscal 2018 : (Yen in billions) Geographic Segments Note: Figures within parentheses mean minus 2017 2018 vs PY(％) Results Projections Consolidated 3,643.4 3,800.0 +4 Net Sales Japan 1,147.8 1,200.0 +5 The Americas 1,776.5 1,800.0 +1 EMEA 559.8 610.0 +9 China, Asia-Pacific
Slide 16: Trend of Net Sales, Operating Income, ROA, ROE
Trend of Net Sales, Operating Income, ROA, ROE Net 売上高 Sales (trillion yen) Operating 営業利益 Income (billion yen) Projections OP% 9.4% 12.3% 13.0% 13.6% 13.5% 11.5% 12.2% ROA 6.0% 6.1% 8.0% 7.3% 7.1% 7.5% ROE 13.7% 12.7% 15.5% 13.3% 11.8% 12.5% 16 /19
Slide 17: Trend of Dividend, Pay Out Ratio
Trend 180 of Dividend, Pay Out Ratio Dividend 50% (yen per share) Per Share 160 yen 160 150 yen 45% 41.3% 40% 140 130 yen 140 yen 39.9% 39.1% 35% 120 35.8% 100 yen 30% 100 22.1% 25% 26.1% 80 Pay Out 20% Ratio 14.6% 57 yen 60 15% 40 32 yen 10% 20 5% 0 0% Y12 Y13 Y14 Y15 Y16 Y17 Y18 Projections 17 /19
Slide 18: Summary
Summary 2017 Results 2018 Projections ●Increased OE demand driving ●Steady demand growth Tire sales sales growth ●Sales grow with sales promotion Volume ●Ultra-large/Large ORR sales ●Ultra-large/Large ORR sales recovery throughout the year grow throughout the year ●Selling Price increase adoption in
Slide 19: 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