Tata Motors Limited · NSE:TMCV
Tata Motors — FY2013 Earnings Presentation
27 slides from Tata Motors's earnings presentation, May 29, 2013
Slide 1: Jaguar Land Rover results under IFRS for the year ended 31 March 2013
Jaguar Land Rover results under IFRS for the year ended 31 March 2013 29 May 2013
Slide 2: Disclaimer
Disclaimer 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 applicable securities
Slide 3: Participants
Participants Kenneth Gregor CFO Jaguar Land Rover C. Ramakrishnan CFO Tata Motors Bennett Birgbauer Treasurer Jaguar Land Rover
Slide 4: Agenda
Agenda Key topics Page Financial performance 5 Looking ahead / other developments 14 Closing Q&A 17
Slide 5: FY13 financial highlights
FY13 financial highlights Record sales, revenue and profits Retail volumes 375k for the full year, up 22% from prior year, with Land Rover up 26% and Jaguar up 8% FY13 revenue £15.8bn, up £2.3bn on the prior year Full year EBITDA £2,402m, up £375m with EBITDA margin of 15.2%, up 0.2ppt from FY12 PBT
Slide 6: Key financial metrics – Q4 and full year
Key financial metrics – Q4 and full year Key metrics - IFRS Quarter ended 31 March Year ended 31 March (£ millions, unless stated) Retail volumes (‘000 units) Wholesale volumes (‘000 units) Revenues (IFRS) EBITDA EBITDA % Profit before tax Profit after tax Free cash flow (1) Cash (2) 5,053 16.9% 2,8
Slide 7: Strong overall performance
Strong overall performance Land Rover retail volume up 64k units (26%) – primarily reflects increases in the Range Rover Evoque and the Freelander Jaguar retail volume up 4k units (8%) – reflecting launch of new all-wheel drive and smaller engine options for XF and XJ and XF Sportbrake EBITDA of £2,
Slide 8: 12 month retail volumes by carline
12 month retail volumes by carline Jaguar – 12 months FY13 vs 12 months FY12 Land Rover – 12 months FY13 vs 12 months FY12 12 months FY12 Up 8% 12 months FY13 XK XJ XF Up 26% 12 months FY12 12 months FY13 New Range Rover Range Rover Range Rover Sport Range Rover Evoque Discovery Freelander Defender
Slide 9: 12 month retail volumes by geography
12 month retail volumes by geography UK North America China Up 20% Up 9% Up 48% 72 77 60 58 63 57 68 46 44 50 14 15 14 13 7 9 12 months 12 months 12 months 12 months 12 months 12 months FY12 FY13 FY12 FY13 FY12 FY13 Europe Asia Pacific All other markets Up 18% Up 27% Up 19% 14 18 48 57 10 14 10 11 4
Slide 10: Income statement
Income statement Consolidated income statement - IFRS Quarter ended 31 March Year ended 31 March (£ millions, unless stated) Revenues Material cost of sales Employee costs Other expenses Product development costs capitalised EBITDA Depreciation and amortisation Foreign exch. gain/(loss) (net) (1) Ne
Slide 11: YTD cash generation and strong liquidity
YTD cash generation and strong liquidity Consolidated cash flow - IFRS Quarter ended 31 March Year ended 31 March (£ millions, unless stated) Cash from operating activities Working capital changes Tax paid Cash flow from operations Investment in fixed and intangible assets Other (including finance i
Slide 12: Strong financing structure
Strong financing structure Key financial indicators - IFRS (£ millions, unless stated) 31 March 2013 31 March 2012 Change Cash Long term undrawn credit facilities Other undrawn committed facilities Total liquidity Total equity Total debt Net cash Total debt / annualised EBITDA Total debt/equity 2,84
Slide 13: Agenda
Agenda Key topics Page Financial performance 5 Looking ahead / other developments 14 Closing Q&A 17
Slide 14: Recent launch: All-New Range Rover
Recent launch: All-New Range Rover The All-New Range Rover Start of retail sales December 2012 Enhanced performance and handling on all terrains, and significant advances in environmental sustainability The world’s first SUV with a lightweight all-aluminium body All-aluminium body shell has helped r
Slide 15: Developments
Developments Engines – investing in new engine facility F-TYPE – World car design of the year All new Range Rover Sport New China JV
Slide 16: Summary
Summary Strong performance in 2012/13 In the 2013/14 fiscal year, focus is on: continuing to build sales momentum with the new Range Rover, Jaguar XF Sportbrake and other new derivatives successfully launching Jaguar F-TYPE and new Range Rover Sport continuing to invest in more new products and new
Slide 17: Agenda
Agenda Key topics Page Financial performance 5 Looking ahead / other developments 14 Closing Q&A 17
Slide 18: Q&A
Q&A
Slide 19: Additional slides
Additional slides
Slide 20: Q4 key metrics – strong quarter compared to prior quarters
Q4 key metrics – strong quarter compared to prior quarters Key metrics (£ millions, unless stated) Retail volumes (‘000 units) Wholesale volumes (‘000 units) Revenues (IFRS) EBITDA EBITDA % Profit before tax Free cash flow Q1 3,638 14.5% Q2 3,288 14.8% Q3 3,804 14.0% (132) Q4 5,053 16.9% YTD 15,784
Slide 21: Quarterly retail volumes by carline
Quarterly retail volumes by carline Jaguar – Q4 FY13 vs Q4 FY12 Up 30% 20 XK 15 1 5 XJ 1 4 XF 14 10 Q4 FY12 Q4 FY13 Land Rover – Q4 FY13 vs Q4 FY12 Up 15% 95 1 8 15 29 New Range Rover Range Rover Range Rover 12 Sport Range Rover 13 Evoque Discovery 12 17 Freelander Defender 5 5 Q4 FY12 Q4 FY13
Slide 22: Quarterly retail volumes by geography
Quarterly retail volumes by geography UK North America China Up 18% Up 16% Up 21% 22 22 18 18 18 18 12 14 16 4 5 3 4 2 4 Q4 FY12 Q4 FY13 Q4 FY12 Q4 FY13 Q4 FY12 Q4 FY13 Europe Asia Pacific All other markets Up 9% Up 17% Up 25% 6 17 5 14 4 4 3 4 1 1 2 2 Q4 FY12 Q4 FY13 Q4 FY12 Q4 FY13 Q4 FY12 Q4 FY13
Slide 23: Quarterly wholesale volumes by carline
Quarterly wholesale volumes by carline Jaguar – Q4 FY13 vs Q4 FY12 Up 50% XK 14 1 6 XJ 1 4 XF 15 9 Q4 FY12 Q4 FY13 Land Rover – Q4 FY12 New Range Rover Range Rover Range Rover Sport Range Rover Evoque Discovery Freelander Defender Q4 FY13 vs Q4 FY12 Up 13% Q4 FY13
Slide 24: Quarterly wholesale volumes by geography
Quarterly wholesale volumes by geography UK North America China Up 25% Up 16% Up 32% 26 25 19 19 21 19 17 14 13 16 3 5 3 5 2 5 Q4 FY12 Q4 FY13 Q4 FY12 Q4 FY13 Q4 FY12 Q4 FY13 Europe Asia Pacific All other markets Up 4% Up 21% Up 18% 23 24 20 20 6 16 5 13 4 5 3 4 1 1 2 2 Q4 FY12 Q4 FY13 Q4 FY12 Q4 FY
Slide 25: 12 month wholesale volumes by carline
12 month wholesale volumes by Jaguar – 12 months FY13 vs 12 months FY12 12 months FY12 carline Up 7% 12 months FY13 Land Rover – 12 months FY13 vs 12 months FY12 XK XJ XF Up 21% 12 months FY12 12 months FY13 New Range Rover Range Rover Range Rover Sport Range Rover Evoque Discovery Freelander Defend
Slide 26: 12 month wholesale volumes by geography
12 month wholesale volumes by geography UK North America China Up 10% Up 11% Up 46% 68 65 62 58 54 69 48 45 51 47 14 14 13 14 8 10 12 months 12 months 12 months 12 months 12 months 12 months FY12 FY13 FY12 FY13 FY12 FY13 Europe Asia Pacific All other markets Up 10% Up 27% Up 16% 61 69 18 57 14 49 11
Slide 27: Product and other investment
Product and other investment Key financial indicators - IFRS Quarter ended 31 March Year ended 31 March (£ millions, unless stated) R&D expense Capitalised Expensed Total R&D expense Investment in tangible and other intangible assets Total product and other investment Change 1,058 2,048 1,560 Change