Fiscal year 2013 Financial results

Transcription

1 Fiscal year 2013 Financial results Nissan Motor Co., Ltd May 12, 2014 results Mid-term action plan FY14 outlook All rights reserved. 2

2 Key performance indicators: financial results (management pro forma basis * ) Net revenue Operating profit Net income Free cash flow (Auto) Net cash (Auto) 9, , , * Based on continuation of proportional consolidation of China JV All rights reserved. 3 sales performance: Global TIV* Retail volume vs. Global +4.8% Japan +9.2% **M/S **M/S 6.2% 6.2% 4,914 5, vs. Global +5.6% Japan +11.1% China +14.0% 1,266 China +17.2% *** (million units) (15.65) North America (US) Europe +6.2% (+6.4%) +1.8% (thousand units) 1,648 (1,285) North America (US) +12.4% (+13.0%) 676 Europe +2.4% Others -3.0% 879 Others -8.5% *Nissan s estimation ** Market Share *** After adjustment of CV spin off All rights reserved. 4

3 sales performance: Japan (thousand units) (%) Retail volume +11.1% Market share +0.2 points TIV: 5.69 million units, +9.2% Sales: 719 k units, +11.1% Market share: 12.6%, +0.2 points New X-Trail: 24.0 k units since launch DAYZ / DAYZ ROOX: k units since launch X-Trail DAYZ All rights reserved. 5 sales performance: China (Jan. to Dec.) (thousand units) Retail volume +17.2% 1,266 1,080 Market share +0.2 points *1 *2 TIV : million units, +14.0% Sales: 1,266 k units, +17.2% Market share: 6.1%, +0.2 points Qashqai sales: k units, +18.5% Sylphy sales: k units, +94.0% Qashqai Sylphy *3 *3 (%) * 1: Sales to dealers * 2: TIV for China : Passenger and LCV only * 3: After adjustment of CV spin off All rights reserved. 6

4 sales performance: North America (thousand units) US Retail volume +13.0% 1,285 1,138 US Market share +0.5 points US TIV: million units, +6.4% Sales: 1,285 k units, +13.0% Market share: 8.2%, +0.5 points Canada Sales: 96 k units, +20.9% Market share: 5.5%, +0.7 points Mexico Sales: 265 k units, +7.1% Market share: 24.9%, +0.1 points (%) Altima Rogue All rights reserved. 7 sales performance: Europe (thousand units) Retail volume +2.4% Market share TIV: million units, +1.8% Europe excluding Russia: 511 k units, +1.7% Russia: 164 k units, +4.9% Market share: Russia 5.3% 5.9% Europe excl. Russia 3.6% 3.5% (%) Qashqai Juke All rights reserved. 8

5 sales performance: Other markets Estimated TIV: million units, -3.0% Sales: 879 k units, -8.5% (thousand units) Retail volume -8.5% Asia & Oceania: k units, -17.8% Latin America: k units, -16.1% Middle East: k units, +22.5% Datsun GO Terrano All rights reserved. 9 financial performance (management pro forma basis* ) Variance Net revenue 9, , ,805.2 Change vs. (%) +18.7% Operating profit OP margin 5.4% 5.3% Non-operating % Ordinary profit Extraordinary % Profit before tax Taxes Effective tax rate 28.3% 25.9% Minority interest % Net income FX rate JPY/USD JPY/EUR JPY/USD JPY/EUR JPY/USD JPY/EUR +13.6% * Based on continuation of proportional consolidation of China JV All rights reserved. 10

6 financial performance (management pro forma basis* ) Operating profit variance analysis O.P. 4Q only FOREX Purch. cost reduction (Including raw material) Volume / mix Selling exp. / product enrichment R&D exp. MFG exp. Warranty & Recall exp. Other items * Based on continuation of proportional consolidation of China JV O.P. All rights reserved. 11 Net Cash Auto business (management pro forma basis* ) 1,200 1, , FX: JPY/USD End of month 2011 Mar Mar Mar Mar * Based on continuation of proportional consolidation of China JV All rights reserved. 12

7 financial performance (TSE report basis - China JV Equity basis ) Net revenue 8,737.3 Variance 10, ,745.2 Change vs. (%) +20.0% Operating profit OP margin 5.0% 4.8% Non-operating % Ordinary profit Extraordinary % Profit before tax Taxes Effective tax rate 25.5% 21.7% Minority interest % Net income FX rate Note: Other IFRS change included 82.9 JPY/USD JPY/EUR JPY/USD JPY/EUR JPY/USD JPY/EUR +14.0% All rights reserved. 13 results Mid-term action plan FY14 outlook All rights reserved. 14

8 Mid-term action plan Brand and sales power 65 th 2013 Unranked 2010 All rights reserved. 15 Mid-term action plan Management focus 3 region structure 6 region structure China Americas Asia, Oceania Europe, Middle East, Africa, India Europe Japan, Asia, Oceania Latin America Middle East, Africa, India North America All rights reserved. 16

9 Mid-term action plan Zero-emission leadership Nissan e-nv200 Nissan LEAF Nissan LEAF Taxi All rights reserved. 17 Mid-term action plan New capacity coming online Russia, St. Petersburg China, Dalian Thailand Brazil, Resende Indonesia New plants Capacity expansion All rights reserved. 18

10 Mid-term action plan Accelerating Alliance synergies Converged four key business functions Launched 1st Alliance CMF vehicles Purchasing Research & Development Manufacturing & Logistics Human Resources Target : > 4.3 billion annualized synergies All rights reserved. 19 New products FY14 introductions Nissan Murano All rights reserved. 20

11 New products FY14 introductions Datsun on-do All rights reserved. 21 New products FY14 introductions Nissan e-nv200 All rights reserved. 22

12 New products FY14 introductions Nissan e-nv200 Nissan Murano Nissan New global pick-up Nissan New C-H/B Infiniti Q50 LWB Infiniti QX50 LWB Datsun GO+ Datsun on-do Venucia R30 Venucia e30 All rights reserved. 23 results Mid-term action plan FY14 outlook All rights reserved. 24

13 FY14 sales outlook TIV* Retail volume vs. Global +1.6% Japan -14.1% **M/S 6.2% 5,188 **M/S 5, % vs. Global +8.9% Japan -11.0% China +6.4% 1,430 China *** +17.6% (million units) (15.90) North America (US) Europe +1.8% (+1.6%) +1.3% (thousand units) 1,760 (1,370) 780 North America (US) Europe +6.8% (+6.6%) +15.4% Others +1.1% 1,040 Others +18.4% FY14 FY14 *Nissan s estimation ** Market Share *** After adjustment of CV spin off All rights reserved. 25 FY14 outlook (TSE report basis - China JV Equity basis) Net revenue Actual (A) 10,482.5 FY14 outlook (B) 10,790.0 vs. (B)-(A) Change vs. (B)/(A) +2.9% Operating profit % OP margin Ordinary profit 4.8% % % % Net income Net income ratio % % % +4.1% CAPEX R&D Sales ratio Sales ratio % % % % % % -2.1% -0.1% FX rate assumptions (JPY/USD) (JPY/EUR) Note: Other IFRS change included All rights reserved. 26

14 FY14 outlook (TSE report basis - China JV Equity basis) Operating profit variance analysis O.P. TSE report Actual FOREX M&S Monozukuri G&A and other costs FY14 O.P. TSE report outlook All rights reserved. 27 FY14 outlook (management pro forma basis*) Actual (A) FY14 outlook (B) vs. (B)-(A) Change vs. (B)/(A) Net revenue 11, , % Operating profit OP margin Ordinary profit % % % % +22.2% Net income Net income ratio % % % +4.1% * Based on continuation of proportional consolidation of China JV All rights reserved. 28

15 FY14 shareholder return outlook Increase minimum targeted payout ratio from 25% to 30% 10% increase dividend per share (yen) FY10 FY11 FY14 (Forecast) All rights reserved. 29 All rights reserved. 30