Nissan Motor Co., Ltd. · TSE:7201
Nissan Motor — Q3 FY2010 Earnings Presentation
24 slides from Nissan Motor's earnings presentation, Feb 9, 2011
Slide 1: FY 2010 third-quarter financial results
FY 2010 third-quarter financial results February 9, 2011 Nissan Motor Co., Ltd. FY10 third-quarter financial results Key performance indicators: Financial results (billion yen) Net revenue Operating Net income Free cash flow Net debt profit (Auto) (Auto) +19.4% 6,421.8 5,379.6 +96.1% 448.9 207.1 +43
Slide 2: FY10 third-quarter update
FY10 third-quarter update Nissan LEAF Start of production in Oppama, Japan (Oct.) 國領 Start of sales in US and Japan (Dec.) 2 FY10 third-quarter financial results FY10 third-quarter update Awards Nissan LEAF 9 Car of the Year 2011 (Europe) 9 Ward’s 10 Best Engines (US) 9 2010 Good Design Gold Award (
Slide 3: Product launches
FY10 third-quarter update Product launches Japan North America Serena Nissan LEAF Juke Fuga Hybrid 4 FY10 third-quarter financial results FY10 sales performance (9 months) FY10 financial performance (9 months) FY10 outlook 5 FY10 third-quarter financial results
Slide 4: Sales performance (9 months): Global
FY10 sales performance (9 months): Global Change vs. TIV* Change vs. Retail volume All FY09 3Q YTD All FY09 3Q YTD 3,018 regions +20.5% 53.62 regions +12.9% 438 Japan +3.6% 3.46 Japan +2.2% 47.50 2,505 10.91 North America +9.5% (9.04) (+9.9%) 891 North +14.8% 47.50 (US) (680) America (+14.3%) (US) (
Slide 5: Sales performance: North America and Europe
Sales performance (9 months): North America US retail volume TIV increased 9.9%* to 9 million units in (thousand units) +14.3%* US 680 3Q sales in US increased 23.7% to 234.9 k 595 units, trucks increased 40.3% to 82.1 k units and Infiniti increased 35% to 28.6 k units FY09 FY10 Canada: Sales
Slide 6: Sales performance: China and other markets
Sales performance (9 months): China (Jan. to Sep.) Retail volume by brand +39.4% TIV* increased 34.8% to 12 million units (thousand units) 755 Sales in China increased 39.4% to 541 Nissan 755 k units 534 + Infiniti 3Q sales in China increased 20.4% to 391 251.9 k units, driven by QASHQAI, Sylp
Slide 7: FY10 financial performance (9 months)
FY10 sales performance (9 months) FY10 financial performance (9 months) FY10 outlook 12 FY10 third-quarter financial results FY10 financial performance (9 months) FY09 FY10 Change (billion yen) 3Q YTD 3Q YTD Variance vs FY09 (%) Net revenue 5,379.6 6,421.8 +1,042.2 +19.4% Operating profit 228.9 448.
Slide 8: Operating profit variance analysis; free cash flow
FY10 financial performance (9 months) Operating profit variance analysis (billion yen) -133.8 448.9 -19.3 -24.6 +22.0 -10.2 +32.9 +7.9 +19.9 228.9 -110.3 +344.7 -44.6 +135.4 FY09 FOREX Raw Purch. Volume/ Selling Resale of R&D Mfg. Warranty Sales AFL After-sales FY10 3Q YTD material/ cost mix exp. re
Slide 9: Net debt (Auto business)
Net debt (Auto business) 800 Credit rating upgrade z S&P: BBB to BBB+ z R&I: A- to A 600 ( billion yen) 400 783.5 200 387.9 405.3 -42.9 bil. yen ⇒ -159.9 bil. yen* *Based on FX rates as of 3/31/2010 : 293.3 USD : 93.0 207.1 EUR : 124.9 29.7 22.8 0 -42.9 -69.3 -117.0 -200 2008 2009 2010 Dec Mar Jun S
Slide 10: FY10 outlook
FY10 sales performance (9 months) FY10 financial performance (9 months) FY10 outlook 18 FY10 third-quarter financial results FY10 outlook Revised on Feb. 9, 2011 (Actual) (Previous) (Revised) Nov. 4, 2010 Feb. 9, 2011 (billion yen) (A) (B) (B)-(A) * * FY09 FY10 FY10 Variance Sales volume (k units) 3
Slide 11: FY10 all-new product launches
FY10 all-new product launches 10 all-new global launches Europe Japan North America Nissan LEAF Juke Nissan LEAF Juke Elgrand Quest Micra Serena Murano CrossCabriolet QX Moco NV Series M March QX Nissan LEAF Juke Other markets Sunny All-new global launches QX Regional launches M 20 FY10 third-quarte
Slide 12: Upcoming topics
Upcoming topics North America: NV series 22 FY10 third-quarter financial results Upcoming topics North America: Quest 23 FY10 third-quarter financial results
Slide 13: Upcoming topics
Upcoming topics North America: Murano CrossCabriolet 24 FY10 third-quarter financial results Upcoming topics Japan: Moco 25 FY10 third-quarter financial results
Slide 14: Upcoming topics: Europe Nissan LEAF
Upcoming topics Europe: Nissan LEAF 26 FY10 third-quarter financial results 27 FY10 third-quarter financial results
Slide 15: Sales financing: funding sources
Appendix 28 FY10 third-quarter financial results Sales financing: Funding sources (As of December 2010) Equity Group Finance 10.5% (Inter-Company) 17.8% ABS Off B/S 5.7% Commercial paper 6.0% S/T Loan ABS On B/S 0.7% 22.9% L/T Loan Total funding amount 23.5% Bonds 3,710 billion yen 12.9% 29 FY10 thi
Slide 16: Sales financing: penetration and net credit loss ratio
Sales financing: penetration Retail Lease 100 % 90 NFS NMAC NCF NRFM 80 70 60 30% 23% 50 23% 40 20% 3% 30 3% 48% 45% 34% 32% 20 26% 33% 31% 29% 10 0 FY09 FY10 FY09 FY10 FY09 FY10 FY09 FY10 3Q YTD 3Q YTD 3Q YTD 3Q YTD 3Q YTD 3Q YTD 3Q YTD 3Q YTD NFS: Nissan Financial Service, sales finance company in
Slide 17: Sales financing: operating profit and asset
Sales financing: operating profit & asset ( NFS : billion yen, NMAC : million USD, NCF : million CAD, NRFM : million Peso) FY09 FY10 3Q YTD 3Q YTD Variance Asset: 1,107.8 Asset: 1,038.2 Asset: -69.6 NFS OP: 10.7 OP: 10.1 OP: -0.6 Asset: 30,784 Asset: 32,716 Asset: +1,932 NMAC OP: 418 OP: 618 OP: +20
Slide 18: Third-quarter sales performance: Global
FY10 third-quarter sales performance: Global Change vs. TIV* Change vs. Retail volume FY09 3Q All FY09 3Q All 1,008 regions +14.3% 17.63 regions +9.4% 16.12 0.92 Japan -24.0% 110 Japan -20.5% 882 North 3.57 (2.97) America +12.6% North (US) (+13.5%) 311 (235) America +20.9% (US) (+23.7%) (thousand un
Slide 19: Third-quarter operating profit variance analysis
FY10 third-quarter financial performance Operating profit variance analysis (billion yen) -40.6 134.1 -55.1 -5.8 -6.7 -5.8 114.0 -2.1 +45.4 +5.1 +3.9 +4.2 -17.2 +54.6 FY09 FOREX Raw Purch. Volume Selling Resale of R&D Mfg. Warranty Sales AFL After sales FY10 3Q material cost /mix exp. returned exp.
Slide 20: Non-operating and extraordinary items (9 months)
FY10 financial performance (9 months) Detail of non-operating income/expenses (billion yen) FY09 FY10 Variance 3Q YTD 3Q YTD • Interest income / expenses -12.5 -9.7 +2.8 • FX translation -13.0 -32.1 -19.1 NML -5.9 -21.8 -15.9 NMEX -20.1 0.7 +20.8 NMAC 1.6 -14.4 -16.0 Others 11.4 3.4 -8.0 Offset • De
Slide 21: Non-operating and extraordinary items (3Q)
FY10 third-quarter financial performance Detail of non-operating income/expenses (billion yen) FY09 FY10 Variance 3Q 3Q • Interest income / expenses -4.6 -2.1 +2.5 • FX translation -0.5 -5.2 -4.7 NML 5.4 -6.7 -12.1 NMEX -8.9 -0.5 +8.4 NMAC 1.9 0.0 -1.9 Others 1.1 2.0 +0.9 Offset • Derivative gain an
Slide 22: Free cash flow (Auto business)
FY10 third-quarter financial performance Free cash flow (Auto business) (billion yen) -20.9 -137.8 +182.7 -31.2 -43.7 -7.2 -3.2 +0.8 +46.9 Net cash AP/AR Inventory Tax/ Cash flow Capex* Asset Other Free inflow other from sales investing cash from P&L operating operating activities activities flow it
Slide 23: CAPEX and R&D; other markets retail sales
FY10 financial performance CAPEX and R&D (billion yen) FY10 1Q 2Q 3Q 3Q YTD CAPEX 42.6 68.4 73.9 184.9 (Sales Ratio) (2.1%) (3.0%) (3.5%) (2.9%) R&D 88.9 98.3 95.8 283.0 (Sales Ratio) (4.3%) (4.3%) (4.6%) (4.4%) FY09 1Q 2Q 3Q 3Q YTD CAPEX 35.7 53.2 57.8 146.7 (Sales Ratio) (2.4%) (2.8%) (2.9%) (2.7%
Slide 24: Third-quarter retail sales: other markets
FY10 third-quarter retail sales FY10 3Q Detail of other markets FY09 3Q 100 70.9 (thousand units) 50 46.0 48.1 55.2 43.9 27.3 20.1 14.0 0 Asia & M.East Africa Latin Oceania America 46 FY10 third-quarter financial results