Mazda Motor Corp. · TSE:7261
Mazda Motor — Q3 FY March 2024 Earnings Presentation
31 slides from Mazda Motor's earnings presentation, Feb 9, 2024
Slide 1: Financial Results for Fiscal Year March 2024 Third Quarter
FINANCIAL RESULTS FOR FISCAL YEAR MARCH 2024 THIRD QUARTER February 9, 2024 Mazda Motor Corporation M A Z D A M O TO R C OR POR AT IO N
Slide 2: Presentation Outline
PRESENTATION OUTLINE ▪Financial Results Highlights ▪Progress of Initiatives ▪FY March 2024 Nine Month Results ▪FY March 2024 Full Year Forecast M A Z D A M O TO R C O R POR ATI ON 2
Slide 3: Financial Results Highlights
FINANCIAL RESULTS HIGHLIGHTS M A Z D A M O TO R C O R POR ATI ON 3
Slide 4: Financial Results Highlights
FINANCIAL RESULTS HIGHLIGHTS Nine-Month Results ￭ Global production 927,000 units, up 15% year-on-year ￭ Global sales 930,000 units, up 17% year-on-year ￭ Net sales ¥3,566.5 billion, up 32% year-on-year ￭ Operating income ¥200.2 billion, up 83% year-on-year Full Year Forecast ￭ “Baseline” forecast u
Slide 5: Progress of Initiatives: Production
PROGRESS OF INITIATIVES Production: Improving global production volume ▪ Production in North America, Japan and China remained strong, and stable production of more than 100,000 units per month continued ▪ The third quarter production was 335,000 units, exceeding the second quarter and the third qua
Slide 6: Progress of Initiatives: Sales
PROGRESS OF INITIATIVES Sales: Steady volume growth in the U.S., contribution of new products, improving sales in China ▪ The third quarter global sales increased by 12% year on year to 313,000 units ▪ Record sales in the U.S. for the third quarter ▪ CX-90 sales grew steadily, and global sales volum
Slide 7: Progress of Initiatives: Business Management
PROGRESS OF INITIATIVES Business Management: Establishment of a structure and organizations Initiatives for Electrification ▪ In November 2023, Electrification Business Division was established, to concentrate resources and accelerate full-scale electrification efforts ▪ In February 2024, RE Develop
Slide 8: Nine Month Results
FY MARCH 2024 NINE MONTH RESULTS M A Z D A M O TO R C O R POR ATI ON 8
Slide 9: Nine Month Volume Results
FY MARCH 2024 NINE MONTH VOLUME RESULTS (Thousand Units) FY March 2024 Change from Prior Year 1st Half 3rd Quarter 9 Month 1st Half 3rd Quarter 9 Month Production Volume* 593 335 927 +90 +29 +119 +15% Global Sales Volume Japan 82 39 121 +14 -1 +13 +12% North America 251 129 380 +70 +22 +93 +32% Euro
Slide 10: Nine Month Financial Metrics
FY MARCH 2024 NINE MONTH FINANCIAL METRICS (Billion Yen) FY March 2024 Change from Prior Year 1st Half 3rd Quarter 9 Month 1st Half 3rd Quarter 9 Month Consolidated Wholesales (Thousand Units) 588 300 888 +138 +13 +151 +20% Net Sales 2,317.3 1,249.2 3,566.5 +674.8 +195.4 +870.2 +32% Operating Income
Slide 11: Difference in Nine Month Operating Income
DIFFERENCE IN FY MARCH 2024 NINE MONTH OPERATING INCOME (vs. FY MARCH 2023 NINE MONTH) ·Quality assurance enhancement ·Increase in wholesale volume by +151,000 units ·Strengthened marketing investment for introduction of new products ·Increase in sales of Large products (Billion Yen) ·Enhancement of
Slide 12: Full Year Forecast
FY MARCH 2024 FULL YEAR FORECAST M A Z D A M O TO R C O R POR ATI ON 12
Slide 13: To Achieve Full Year Forecast
TO ACHIEVE FY MARCH 2024 FULL YEAR FORECAST ￭ “Baseline” forecast unchanged from November announcement ￭ Risks & opportunities are under review ￭ Aim to achieve ¥250 billion operating income ·Utilize pipeline inventory to ·Higher quality assurance costs, minimize profit impact net of cost efficiency
Slide 14: Closing
CLOSING ⁃ Record nine-month profit at all levels ⁃ Projected record fiscal year operating income of ¥250 billion ⁃ Managing risks & opportunities through final weeks of fourth quarter M A Z D A M O TO R C O R POR ATI ON 14
Slide 15: Slide 15
Slide 16: Appendix
APPENDIX M A Z D A M O TO R C O R POR ATI ON 16
Slide 17: Production Volume
PRODUCTION VOLUME FY March 2023 FY March 2024 FY March 2024 FY March 2024 Fourth Quarter First Quarter Second Quarter Third Quarter 326,000 units 284,000 units 309,000 units 335,000 units 124 Due to fewer Due to fewer number of 119 Due to fewer number of 118 number of operating days operating days 1
Slide 18: Japan
JAPAN ▪121,000 units sold, up 12% year on year ▪Crossover SUVs like CX-60 and CX-8 contributed to sales growth ▪Market share was 3.5%, down 0.1 points year on year. Registered vehicle market share was 4.4%, Nine Month Sales Volume & down 0.3 points year on year Market Share ▪Sales of the updated Roa
Slide 19: North America
NORTH AMERICA ▪ USA: - 275,000 units sold, up 29% year on year. MAZDA CX-90 Crossover SUVs like CX-90, CX-5, CX-50, and CX-30 contributed to sales growth - Market share was 2.3%, up 0.3 points year on year - CX-90 sales were 14,000 units for the 3 months of the third quarter. Strong sales continued,
Slide 20: Europe
EUROPE ▪135,000 units sold, up 24% year on year MAZDA CX-60 CX-60 and CX-5 contributed to sales volume growth ▪Sales of the CX-60 in the third quarter reached 7,000 units. Strong sales continued, especially for plug-in hybrid models Nine Month Sales Volume & Market Share ▪Market share was 1.1%, up 0
Slide 21: China
CHINA MAZDA CX-50 ▪73,000 units sold, up 1% year on year ▪Market share was 0.3%, down 0.1 points year on year ▪Sales in the third quarter were 28,000 units, up Nine Month Sales Volume & 19% year on year. Market Share (Thousand units) 0.4% Sales of Mazda3, CX-5, and CX-50, which was 0.3% launched in
Slide 22: Other Markets
OTHER MARKETS ▪222,000 units sold, up 1% year on year ▪Australia: ⁃ 75,000 units sold, up 13% year on year ⁃ CX-60, which was launched in the second quarter, as well as CX-3, CX-30, and BT-50 contributed to the sales growth Nine Month Sales Volume & ⁃ Market share was 7.9%, down 0.1 points year Aust
Slide 23: Cash Flow and Net Cash
CASH FLOW AND NET CASH Change from (Billion Yen) FY March 2023 FY March 2024 Prior FY End Full Year Nine Month Cash Flow from Operating Activities 137.4 210.0 - Cash Flow from Investing Activities -99.4 -89.3 - Free Cash Flow 38.0 120.7 - Cash and Cash Equivalents 717.1 745.6 +28.5 Interest-bearing
Slide 24: Third Quarter Volume Results
FY MARCH 2024 THIRD QUARTER VOLUME RESULTS (Thousand Units) FY March 2023 FY March 2024 Change from Prior Year 3rd Quarter 3rd Quarter 3rd Quarter Production Volume* 306 335 +29 +9% Global Sales Volume Japan 39 39 -1 -2% North America 107 129 +22 +21% Europe 41 45 +4 +9% China 23 28 +4 +19% Other Ma
Slide 25: Third Quarter Financial Metrics
FY MARCH 2024 THIRD QUARTER FINANCIAL METRICS (Billion Yen) FY March 2023 FY March 2024 Change from Prior Year 3rd Quarter 3rd Quarter 3rd Quarter Consolidated Wholesales (Thousand Units) 287 300 +13 +5% Net Sales 1,053.8 1,249.2 +195.4 +19% Operating Income 54.3 70.6 +16.3 +30% Ordinary Income 25.0
Slide 26: Difference in Third Quarter Operating Income
DIFFERENCE IN FY MARCH 2024 THIRD QUARTER OPERATING INCOME (vs. FY MARCH 2023 3 rd QUARTER) ·Increase in wholesale volume by ·Quality assurance enhancement +13,000 units ·Strengthened marketing ·Increase in sales of Large investment, etc. (Billion Yen) products Cost ·Increase in sales costs Foreign
Slide 27: Full Year Volume Forecast
FY MARCH 2024 FULL YEAR VOLUME FORECAST Change from (Thousand Units) FY March 2023 FY March 2024 Change from Prior Year Nov. Forecast Full Year Full Year Full Year Full Year Global Sales Volume Japan 165 176 +12 +7% 0 North America 407 537 +131 +32% 0 Europe 160 193 +33 +20% 0 China 84 91 +7 +8% 0 O
Slide 28: Full Year Financial Metrics
FY MARCH 2024 FULL YEAR FINANCIAL METRICS Change from (Billion Yen) FY March 2023 FY March 2024 Change from Prior Year Nov. Forecast Full Year Full Year Full Year Full Year Consolidated Wholesales (Thousand Units) 1,059 1,220 +161 +15% 0 Net Sales 3,826.8 4,800.0 +973.2 +25% 0 Operating Income 142.0
Slide 29: Exchange Rate
EXCHANGE RATE Change from (Yen) FY March 2024 Change from Prior Year Nov. Forecast 1Q 2Q 3Q Full Year 1Q 2Q 3Q Full Year Full Year US Dollar 138 145 148 140 +8 +6 +6 +5 0 Euro 150 157 159 151 +11 +18 +15 +10 0 Canadian Dollar 102 108 109 104 +1 +2 +4 +1 0 Australian Dollar 92 95 96 91 -1 0 +3 -1 0 B
Slide 30: Dividend Payment
DIVIDEND PAYMENT Dividends Per Share (Yen) Interim Dividend 50 Year-end Dividend 45 35 35 35 35 25 30 25 20 20 20 20 15 20 10 25 20 20 15 15 15 15 15 1 10 0 FY March 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Results Plan Note: A share consolidation of common stock was implemented at a r
Slide 31: Disclaimer
DISCLAIMER The projections and future strategies shown in this presentation are based on various uncertainties including but not limited to conditions of the world economy in the future, trends in the automotive industry, and the risk of exchange rate fluctuations. Consequently, Mazda's actual perfo