Fiscal year 2013 Financial results

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Transcription:

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

Key performance indicators: financial results (management pro forma basis * ) Net revenue Operating profit Net income Free cash flow (Auto) Net cash (Auto) 9,629.6 11,434.8 915.9 1,133.7 523.5 605.7 342.4 389.0 248.6 208.1 * Based on continuation of proportional consolidation of China JV All rights reserved. 3 sales performance: Global TIV* Retail volume 79.33 83.11 5.69 vs. Global +4.8% Japan +9.2% **M/S **M/S 6.2% 6.2% 4,914 5,188 719 vs. Global +5.6% Japan +11.1% 20.75 China +14.0% 1,266 China +17.2% *** (million units) 18.47 (15.65) 17.49 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% 20.71 Others -3.0% 879 Others -8.5% *Nissan s estimation ** Market Share *** After adjustment of CV spin off All rights reserved. 4

sales performance: Japan (thousand units) (%) Retail volume +11.1% 719 647 Market share +0.2 points 12.4 12.6 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: 139.8 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 : 20.75 million units, +14.0% Sales: 1,266 k units, +17.2% Market share: 6.1%, +0.2 points Qashqai sales: 124.6 k units, +18.5% Sylphy sales: 259.5 k units, +94.0% Qashqai Sylphy *3 *3 (%) 5.9 6.1 * 1: Sales to dealers * 2: TIV for China : Passenger and LCV only * 3: After adjustment of CV spin off All rights reserved. 6

sales performance: North America (thousand units) US Retail volume +13.0% 1,285 1,138 US Market share +0.5 points US TIV: 15.65 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 (%) 7.7 8.2 Altima Rogue All rights reserved. 7 sales performance: Europe (thousand units) Retail volume +2.4% 660 676 Market share TIV: 17.49 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% (%) 3.9 3.9 Qashqai Juke All rights reserved. 8

sales performance: Other markets Estimated TIV: 20.70 million units, -3.0% Sales: 879 k units, -8.5% (thousand units) Retail volume -8.5% 959 879 Asia & Oceania: 363.3 k units, -17.8% Latin America: 186.3 k units, -16.1% Middle East: 226.4 k units, +22.5% Datsun GO Terrano All rights reserved. 9 financial performance (management pro forma basis* ) Variance Net revenue 9,629.6 11,434.8 +1,805.2 Change vs. (%) +18.7% 523.5 605.7 Operating profit OP margin 5.4% 5.3% Non-operating 5.8-53.3 +82.2 +15.7% Ordinary profit Extraordinary 529.3-12.6 552.4 +23.1 26.0 +4.4% Profit before tax 516.7 578.4 +61.7 Taxes -146.3-149.8 Effective tax rate 28.3% 25.9% Minority interest -28.0-39.6 +11.9% Net income FX rate 342.4 389.0 82.9 JPY/USD 106.8 JPY/EUR 100.2 JPY/USD 134.2 JPY/EUR +46.6 +17.3 JPY/USD +27.4 JPY/EUR +13.6% * Based on continuation of proportional consolidation of China JV All rights reserved. 10

financial performance (management pro forma basis* ) Operating profit variance analysis +202.6 +70.4 +247.6 523.5-266.5-24.2-36.8-72.1-38.8 605.7 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 174.4 +24.2 +64.5 +111.6-84.6 0.0-12.1-23.7-19.4 234.9 * 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 1,133.7 1,000 915.9 800 600 619.8 400 293.3 200 0 FX: JPY/USD End of month 2011 Mar. 83.2 2012 Mar. 82.2 2013 Mar. 94.1 2014 Mar. 102.9 * Based on continuation of proportional consolidation of China JV All rights reserved. 12

financial performance (TSE report basis - China JV Equity basis ) Net revenue 8,737.3 Variance 10,482.5 +1,745.2 Change vs. (%) +20.0% 438.8 498.4 Operating profit OP margin 5.0% 4.8% Non-operating 65.6 28.8 +59.6 +13.6% Ordinary profit Extraordinary 504.4-17.1 527.2 +22.8 2.2 +4.5% Profit before tax 487.3 529.4 +42.1 Taxes -124.3-115.1 Effective tax rate 25.5% 21.7% Minority interest -21.9-25.3 +8.6% Net income FX rate Note: Other IFRS change included 82.9 JPY/USD 106.8 JPY/EUR 341.1 389.0 100.2 JPY/USD 134.2 JPY/EUR +47.9 +17.3 JPY/USD +27.4 JPY/EUR +14.0% All rights reserved. 13 results Mid-term action plan FY14 outlook All rights reserved. 14

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

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

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

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

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

FY14 sales outlook TIV* Retail volume 83.11 84.42 4.89 vs. Global +1.6% Japan -14.1% **M/S 6.2% 5,188 **M/S 5,650 640 6.7% vs. Global +8.9% Japan -11.0% 22.07 China +6.4% 1,430 China *** +17.6% (million units) 18.81 (15.90) 17.72 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% 20.93 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) +307.5 Change vs. (B)/(A) +2.9% Operating profit 498.4 535.0 +36.6 +7.4% OP margin Ordinary profit 4.8% 527.2 5.0% 620.0 +0.2% +92.8 +17.6% Net income Net income ratio 389.0 3.7% 405.0 3.8% +16.0 +0.1% +4.1% CAPEX R&D Sales ratio Sales ratio 536.3 5.1% 500.6 4.8% 525.0 4.9% 500.0 4.6% -11.3-0.2% -0.6-0.2% -2.1% -0.1% FX rate assumptions (JPY/USD) (JPY/EUR) 100.2 134.2 100.0 140.0-0.2 +5.8 Note: Other IFRS change included All rights reserved. 26

FY14 outlook (TSE report basis - China JV Equity basis) Operating profit variance analysis 498.4 +25.0 +85.0-18.4 535.0-55.0 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 11,434.8 11,950.0 +515.2 +4.5% Operating profit OP margin Ordinary profit 605.7 5.3% 552.4 680.0 5.7% 675.0 +74.3 +0.4% +122.6 +12.3% +22.2% Net income Net income ratio 389.0 3.4% 405.0 3.4% +16.0 0.0% +4.1% * Based on continuation of proportional consolidation of China JV All rights reserved. 28

FY14 shareholder return outlook Increase minimum targeted payout ratio from 25% to 30% 10% increase dividend per share (yen) 10 20 25 30 33 FY10 FY11 FY14 (Forecast) All rights reserved. 29 All rights reserved. 30