Nissan Motor Co., Ltd. · TSE:7201
Nissan Motor — FY2012 Earnings Presentation
26 slides from Nissan Motor's earnings presentation, May 10, 2013
Slide 1: Fiscal year 2012 financial results
Fiscal year 2012 financial results Nissan Nissan Motor Motor Co., Co., Ltd Ltd May 10, May 10, 2013 2013 Key performance indicators: financial results (billion yen) Operating Free cash flow Net cash Net revenue Net income profit (Auto) (Auto) 9,629.6 915.9 9,409.0 545.8 523.5 619.8 341.4 342.4 379.5
Slide 2: FY12 business update
FY12 business update FY12 sales performance FY12 consolidated financial performance FY13 outlook (C) Copyright NISSAN MOTOR CO., LTD. www.nissan-global.com 2013 All rights reserved. 3 FY12 business update Awards and accolades China Most economical Car of the year vehicle Japan CAR OF THE YEAR Venuci
Slide 3: Awards and environmental achievement
FY12 business update Awards and accolades Highest-ever ranking (C) Copyright NISSAN MOTOR CO., LTD. www.nissan-global.com 2013 All rights reserved. 5 FY12 business update Environmental achievement 2nd position at 21st position among Nikkei Environmental top 50 brands Management Survey NIKKEI (C) Cop
Slide 4: EV momentum and Infiniti record sales
FY12 business update EV momentum Nissan LEAF cumulative sales: more than 62 k units as of today Nissan LEAF owner event in San Francisco Battery plant in Sunderland Battery plant in Smyrna (C) Copyright NISSAN MOTOR CO., LTD. www.nissan-global.com 2013 All rights reserved. 7 FY12 business update Inf
Slide 5: Alliance momentum
FY12 business update Alliance momentum Strategic partnerships (C) Copyright NISSAN MOTOR CO., LTD. www.nissan-global.com 2013 All rights reserved. 9 FY12 business update FY12 sales performance FY12 consolidated financial performance FY13 outlook (C) Copyright NISSAN MOTOR CO., LTD. www.nissan-global
Slide 6: FY12 sales performance: Global and Japan
FY12 sales performance: Global TIV* Retail volume vs. FY11 **M/S 6.4% **M/S 6.2% vs. FY11 79.33 Global +4.8% 4,845 4,914 Global +1.4% 75.69 5.21 Japan +9.6% 647 Japan -1.3% 18.21 China +6.1% 1,182 China -5.3% North +10.5% 17.39 (thousand units) America (million units) (14.71) (+11.6%) North (US) 1,4
Slide 7: Sales performance: China and North America
FY12 sales performance: China (Jan. to Dec.) ■ TIV**: 18.21 million units, +6.1% * Retail volume -5.3% ■ Sales: 1,182 k units, -5.3%, (thousand units) 1,247 1,182 ■ Market share: 6.5%, -0.8 points ■ Sylphy sales: 133.8 k units, +6.7% FY11 FY12 Market share -0.8 points Sylphy Tiida 7.3 (%) 6.5 FY11 F
Slide 8: Sales performance: Europe and other markets
FY12 sales performance: Europe Retail volume ■ TIV: 17.18 million units, -6.4% ■ Europe excluding Russia: 503 k units, -8.9% (thousand units) -7.5% 713 ■ Russia: 157 k units, -2.8% 660 ■ Market share: FY11 FY12 FY11 FY12 Russia 5.9% 5.3% Market share Europe excl. Russia 3.5% 3.6% Qashqai Juke 3.9 3.
Slide 9: FY12 financial performance
FY12 business update FY12 sales performance FY12 consolidated financial performance FY13 outlook (C) Copyright NISSAN MOTOR CO., LTD. www.nissan-global.com 2013 All rights reserved. 17 FY12 financial performance Change (billion yen) FY11 FY12 Variance vs. FY11 (%) Net revenue 9,409.0 9,629.6 +220.6
Slide 10: Operating profit variance and free cash flow
FY12 financial performance Operating profit variance analysis (billion yen) +190.4 +30.2 +0.2 545.8 -57.2 -53.5 523.5 -37.0 -53.7 -41.7 FY11 FOREX Purch. cost Volume Selling R&D MFG Sales Other FY12 O.P. reduction / mix exp. exp. exp. finance items O.P. (Including raw material) 4Q only 118.1 +43.2 +
Slide 11: Inventory management and net cash
Inventory management Inventory status 1,200 54 56 57 60 61 62 1,100 1,000 50 900 990 800 890 40 (thousand units) 860 830 700 (days) 770 600 30 500 400 20 300 200 10 100 0 0 2012 2013 Mar Jun Sep Dec Mar Days supply Dealer inventory, except some minor countries Consolidated Nissan inventory, except s
Slide 12: FY13 sales outlook
FY12 business update FY12 sales performance FY12 consolidated financial performance FY13 outlook (C) Copyright NISSAN MOTOR CO., LTD. www.nissan-global.com 2013 All rights reserved. 23 FY13 sales outlook TIV* Retail volume vs. FY12 **M/S 6.2% **M/S 6.5% vs. FY12 81.10 Global +2.2% 4,914 5,300 Global
Slide 13: FY13 key markets: China and US
FY13 Key markets China ■ Continued signs of sales recovery CY13 1Q (Jan-Mar) PV dealer sales to customers: +1.4% vs. CY12 • New model launches • Dealership expansion • Venucia contribution ■ Lag in profit recovery; Normalization expected beyond 2013 (C) Copyright NISSAN MOTOR CO., LTD. www.nissan-gl
Slide 14: FY13 new product launches and pro forma outlook
FY13 new product launches 10 all-new Keeping globaloflaunches momentum product offensive Europe, Middle East, Africa, India Asia & Oceania Americas Note Dayz NV200 Qashqai Dayz Roox Rogue Tiida Livina Versa Note New SUV NV100 Clipper Infiniti Q50 Infiniti Q50 NT100 Clipper st 1 Datsun new model Path
Slide 15: FY13 pro forma outlook and variance analysis
FY13 management pro forma outlook Operating profit variance analysis (billion yen) +80.0 +160.0 +225.0 700.0 -190.0 -15.0 523.5 -83.5 FY12 FOREX Purch. cost Volume/ Selling Sales Cost for future FY13 O.P. reduction mix & finance growth O.P. Actual (Including raw pricing related & Pro forma material)
Slide 16: FY13 shareholder return outlook
FY13 shareholder return outlook 20% increase in dividend dividend per share (yen) 30 25 20 10 FY10 FY11 FY12 FY13 (C) Copyright NISSAN MOTOR CO., LTD. www.nissan-global.com 2013 All rights reserved. 31 POWER Brand & sales 8 Global market 8 Sustainable power share by FY16 COP (%) (%) (C) Copyright NI
Slide 17: Appendix
Appendix (C) Copyright NISSAN MOTOR CO., LTD. www.nissan-global.com 2013 All rights reserved. 34
Slide 18: Sales financing: funding sources and penetration
Sales financing : Funding sources (As of March 2013) Equity 9.0% Group Finance ABS Off B/S (Inter-Company) 3.3% 23.1% Commercial paper ABS On B/S 2.3% 27.5% S/T Loan 3.0% Bonds L/T Loan 22.7% Total funding amount 9.1% 5,626 billion yen (C) Copyright NISSAN MOTOR CO., LTD. www.nissan-global.com 2013
Slide 19: Sales financing: credit loss, profit and assets
Sales financing: net credit loss ratio FY11 FY12 Variance Lease: 0.03% Lease: 0.03% Lease: 0.00% NFS Retail: 0.18% Retail: 0.15% Retail: -0.03% Lease: 0.12% Lease: 0.08% Lease: -0.04% NMAC Retail: 0.70% Retail: 0.56% Retail: -0.14% Lease: 0.18% Lease: 0.15% Lease: -0.03% NCF Retail: 0.17% Retail: 0.
Slide 20: Operating profit variance details; 4Q sales performance
FY12 financial performance Operating profit variance analysis (billion yen) 1. Foreign exchange impact +30.2 USD +59.4 (79.1 to 82.9) RUB -0.7 (2.69 to 2.67) BRL -12.3(46.4 to 41.4) EUR* -6.9 AUD +9.3 (82.7 to 85.5) Others -18.6 * including other European currencies (excluding RUB) 2. Volume / mix -
Slide 21: 4th quarter financial performance
FY12 4th quarter financial performance (3 months) (billion yen) FY11 FY12 Change Variance 4Q 4Q vs. FY11 (%) Net revenue 2,710.6 2,874.4 +163.8 +6.0% Operating profit 118.1 174.4 +56.3 +47.7% OP margin 4.4% 6.1% Non-operating 0.2 -9.7 Ordinary profit 118.3 164.7 +46.4 +39.3% Extraordinary 15.2 -2.9
Slide 22: 4th quarter operating profit variance details
FY12 4th quarter financial performance (3 months) Operating profit variance analysis (billion yen) 1. Foreign exchange impact +43.2 USD +46.7 (79.4 to 92.5) RUB +12.1 (2.65 to 3.05) BRL +0.5(44.9 to 46.3) EUR* -10.8 AUD +8.8 (83.8 to 96.0) Others -14.1 * including other European currencies (excludin
Slide 23: Non-operating and extraordinary items
FY12 financial performance Detail of extraordinary gains/losses (billion yen) FY11 FY12 Variance • Sale/disposal of fixed assets -0.3 1.2 +1.5 • Sale of investment securities 10.6 1.6 -9.0 • Gain on sale of CV business 0.0 8.1 +8.1 • Impairment loss on fixed assets -12.1 -12.4 -0.3 • Loss on disaste
Slide 24: 4th quarter extraordinary items and free cash flow
FY12 4th quarter financial performance (3 months) Detail of extraordinary gains/losses (billion yen) FY11 FY12 Variance 4Q 4Q • Sale/disposal of fixed assets 2.3 3.7 +1.4 • Sale of investment securities 0.0 0.9 +0.9 • Sale of CV business 0.0 8.1 +8.1 • Impairment loss on fixed assets -2.7 -7.9 -5.2
Slide 25: Free cash flow variance; other markets retail sales
FY12 financial performance (billion yen) Free cash flow (Auto business) variance FY11 FY12 Variance Net cash inflow from P&L items 736.9 705.0 -31.9 AP/AR 172.8 120.7 -52.1 Inventory -85.9 0.5 +86.4 Tax/Others -96.9 -97.7 -0.8 Operating activities 726.9 728.5 +1.6 Capex * -370.0 -485.2 -115.2 Net as
Slide 26: 4th quarter retail sales: other markets
FY12 4th quarter retail sales (3 months) FY12 4Q FY11 4Q Detail of other markets 150 121.3 120 103.1 90 (thousand units) 60 52.6 65.4 48.1 48.3 28.3 30 27.5 0 Asia & M.East Africa Latin Oceania America (C) Copyright NISSAN MOTOR CO., LTD. www.nissan-global.com 2013 All rights reserved. 51 (C) Copyri