Yixin Group Limited (2858.HK)

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "Yixin Group Limited (2858.HK)"

Transcription

1 Yixin Group Limited (2858.HK) Yixin Group (2858.HK) Auto dealers Rating NA Industry View NA Issue date 6 Nov 2017 Close app 9 Nov 2017 Listing date 16 Nov 2017 Offer price HKD Source: Company data,cash CASH Research 7 Nov 2017 Potential upside for China s car density: According to the Frost & Sullivan Report, the automobile density in China, or the number of automobile ownership units per 1,000 persons, was as of December 31, 2016, which is significantly lower than that of the United States. Driven by the increasing consumption power resulting from China s urbanization process and growth of disposable income per capita, increasing volume of used automobile retail transactions, and further penetration of sales channels into lower-tier cities, the automobile market in China is expected to expand further. The value of China s automobile retail transactions is expected to increase from RMB3.8 trillion in 2016 to RMB5.2 trillion in 2021, representing a CAGR of 6.5%. Figure: Market size of automotive retail transactions in China Strong growth in online automobile retail transaction: According to the Frost & Sullivan Report, the volume of online automobile retail transactions was 1.0 million in 2016, representing a CAGR of 60.3% from 2012 to Such volume is estimated to reach 5.4 million in 2021, representing a CAGR of 39.2% from 2016 to Consistent with this trend, the value of online automobile retail transactions also has been increasing rapidly since 2012, reaching RMB100.7 billion in 2016, advice, offer, invitation, advertisement, inducement, recommendation or representation of any kind or form whatsoever. While the information contained herein has been obtained from sources believed to be reliable, CASH or its affiliates do not represent that it is accurate or complete and it should be relied upon. CASH hereby expressly disclaims all liabilities arising out of or incidental to the accuracy and completeness of the contents and information herein contained. The contents and information in this document is subject to change without prior notice to you. Trade in securities covered by this report may be made only in those jurisdictions where the securities are qualified for trading. This document may not in whole or in part be reproduced or furnished to any person other than the addressee without written consent from CASH and CASH shall not be liable to any such third parties for loss arising from any unauthorized distribution. Securities dealing services are provided by Celestial Securities Limited, a corporation licensed to conduct Type 1 (dealing in securities) regulated activity under the Securities and Futures Ordinance. -1-

2 representing a CAGR of 65.5% from 2012 to Such value is estimated to reach RMB568.1 billion in 2021, representing a CAGR of 41.3% from 2016 to 2021, due to increasing penetration of Internet and mobile Internet, diverse services available online, increasing acceptance by consumers and merchants and stable growth of the automobile market. In terms of transaction volume, the top five players accounted for 51.2% of the market in 2016, Yixin ranked the first in the market in 2016 with a market share of 18.7%, which is expected to be a major beneficiary amid industry growth. Figure: Market size of online automobile retail transactions in China Ample room for rising consumer auto finance penetration rate: The consumer auto finance penetration rate in China has been increasing but is still lower compared to more developed markets. The volume of automobile retail transactions involving auto finance arrangements in China increased from 3.3 million in 2012 to 9.6 million in 2016, with a consumer auto finance penetration rate of 30.5% in 2016, as compared to 82.0% in the United States. The consumer auto finance market in China is expected to grow while the volume of automobile retail transactions completely funded with cash is expected to be stagnated, primarily due to the emergence of diverse and innovative consumer auto finance solutions available on the market as well as increasing acceptance of auto finance by consumers. According to the Frost & Sullivan Report, in 2021, the volume of automobile retail transactions involving auto finance arrangements in China is expected to reach 26.3 million, with a -2-

3 consumer auto finance penetration rate of 58.4%, while the value of automobile retail transactions involving auto finance arrangements in China is expected to reach RMB3.4 trillion. Figure: Market size of automobile retail transactions involving auto finance arrangements in China Figure: Penetration rate of automobile retail transactions involving auto finance arrangements in China -3-

4 Competitive advantage in online automobile retail transaction platform: Yixin is the largest online automobile retail transaction platform in China as measured by the volume and the value of automobile retail transactions in 2016, according to the Frost & Sullivan Report. For the year ended December 31, 2016, Yixin facilitated over 190,000 automobile retail transactions with an aggregate value of the underlying automobiles reaching over RMB18 billion. Its scale enables the Company to provide consumers with more product and service choices with competitive terms, as well as to negotiate with the business partners for better terms. Integrated omni-channel operational capabilities: Its online platform integrates the online channels, transaction service teams, and dealership stores within the auto dealer cooperative network. In September 2017, its online channels had approximately 51 million MAUs. As of June 30, 2017, its transaction service teams are comprised of a call center primarily focusing on lead conversion and customer support, and its local service teams staffed with over 3,300 employees, focusing on on-site services covering over 300 cities in China. As of June 30, 2017, the auto dealer cooperative network is comprised of over 15,000 dealership stores across over 300 cities in over 30 provinces or equivalent regions in China Embracing automobile Retail Transaction Ecosystem: The Company has nurtured a consumer centric automobile transaction ecosystem in which consumers, automakers, auto dealers, auto finance partners, and aftermarket service providers could better interact and transact with each other. This end-to-end automobile retail transaction ecosystem therefore forms a self-reinforcing virtuous circle that enhances user loyalty. Powerful major shareholders: Yixin had been invested by Tencent (700.HK), JD.com (JD.US), Baidu (BIDU.US), holding 24.3%, 12.7% and 3.02% of shares respectively. Results review: The Company s total revenues increased from RMB48.0 million in 2014 to RMB1.5 billion in 2016, representing a CAGR of 456.8%. (The total revenues in 1H17 grew by 240.4% to RMB1.6 billion) The adjusted operating profit increased from RMB2.1 million in 2014 to RMB150.6 million in 2016, representing a CAGR of 747.1%. (Adjusted operating profit in 1H17 grew by 413.6% to RMB350.2 million). While the Company recorded a net profit of RMB65k, it had a net loss of RMB28.2 million, RMB1.4 billion and RMB6.1 billion for 2015, 2016 and the six months ended -4-

5 June 30, 2017, respectively. Key Risks: (1) The group s limited operating history and historical adjustment of businesses make it difficult for investors to evaluate its business and prospects. (2) Most of the group s financing lease contracts have been outstanding for a relatively short period and are not fully seasoned. The asset quality of the group s self-operated financing business may further deteriorate as the finance receivables season or as the group s product mix evolves. (3) The development of the group s self-operated financing business is capital intensive. Restrictions in the group s capital raising arrangements and inability to obtain additional financing in the future may materially and adversely affect the group s business, results of operations and financial condition. Background Yixin Group (2858.HK) is the largest online automobile retail transaction platform in China as measured by the volume and the value of automobile retail transactions in 2016, according to the Frost & Sullivan Report. The group operates its business in two segments by leveraging its online platform: (i) transaction platform business, where the group primarily facilitate automobile purchase transactions by consumers, facilitate auto loans to consumers offered by the group s auto finance partners, provide value-added services such as sales of vehicle telematics systems to auto dealers, and provide advertising and subscription services for automakers, auto dealers, auto finance partners and insurance companies; and (ii) self-operated financing business, where the group primarily provide consumers with auto finance solutions through financing leases and operating leases. -5-

6 Figure: Yixin's revenue breakdown in 1H17 Source: Company data, CASH -6-

2010 Annual Results Announcement

2010 Annual Results Announcement 2010 Annual Results Announcement March 2011 1 Disclaimer These materials have been prepared by China ZhengTong Auto Services Holdings Limited ( ZhengTong Auto or The Company, together with its subsidiaries,

More information

BMW Group Corporate Communications

BMW Group Corporate Communications 14 March 2007 BMW Group to continue its successful course in 2007 Best year in company s history expected in operating terms Sales volume expected to rise to new record level Munich. The BMW Group plans

More information

FISCAL YEAR MARCH 2014 FINANCIAL RESULTS

FISCAL YEAR MARCH 2014 FINANCIAL RESULTS FISCAL YEAR MARCH 214 FINANCIAL RESULTS Mazda CX-5 Mazda Atenza Mazda Motor Corporation April 25, 214 New Mazda Axela 1 PRESENTATION OUTLINE Highlights Fiscal Year March 214 Results Fiscal Year March 215

More information

Corporate Presentation May 2013

Corporate Presentation May 2013 Corporate Presentation May 2013 Geely Automobile In Figures Year started: 1998 Total workforce: 18,512 (on 31/12/2012) Manufacturing facilities: Products: Distribution network: 9 car plants in China 14

More information

Corporate Presentation. January 2018

Corporate Presentation. January 2018 Corporate Presentation January 2018 Sales Performance Jan.- Dec. 201 Overall: Domestic: Exports: 1,24,6 units, +6% YoY 1,2,8 units +6% YoY,24 units -48% YoY A-segment Sedans (New Emgrand+Vision+Emgrand

More information

Corporate Presentation. March 2018

Corporate Presentation. March 2018 Corporate Presentation March 2018 Sales Performance Jan. - Feb. 2018 Overall: Domestic: Exports: 265,332 units, +38.5% YoY 263,53 units +39% YoY 1, 59 units -4%YoY A-segment Sedans (New Emgrand+Vision+Emgrand

More information

WashTec AG Baader Bank Investment Conference Karoline Kalb WashTec AG

WashTec AG Baader Bank Investment Conference Karoline Kalb WashTec AG WashTec AG Baader Bank Investment Conference 2017 Karoline Kalb WashTec AG What do they have in common? 2 WashTec AG BIC Carwash is an attractive business model around the globe Market drivers Consumer

More information

BMW Group posts record earnings for 2010

BMW Group posts record earnings for 2010 10.03.2011 BMW Group posts record earnings for 2010 Profit before tax rises to euro 4,836 million Profit before financial result climbs to euro 5,094 million Automobiles segment reports EBIT of euro 4,355

More information

2017 Rp bn. Net revenue 150, , Net income* 14,184 11, Net earnings per share As at 30th September 2017 Rp bn

2017 Rp bn. Net revenue 150, , Net income* 14,184 11, Net earnings per share As at 30th September 2017 Rp bn 31st October 2017 PT ASTRA INTERNATIONAL TBK 2017 THIRD QUARTER FINANCIAL STATEMENTS PRESS RELEASE Highlights Net earnings per share up 26 at 350 Increased market share for both cars and motorcycles Positive

More information

Healthier Net Profit under Stronger IDR

Healthier Net Profit under Stronger IDR Investor Bulletin, First Half 2002 Healthier Net Profit under Stronger IDR As of June 2002, the consolidated revenue in USD increased by 32% y.o.y. Due to IDR strengthening against USD, in IDR revenue

More information

Conférence d Automne - Cheuvreux. Paris, September 26 th, 2011

Conférence d Automne - Cheuvreux. Paris, September 26 th, 2011 Conférence d Automne - Cheuvreux Paris, September 26 th, 2011 This presentation may contain forward-looking statements. Such forward-looking statements do not constitute forecasts regarding the Company

More information

TOFAŞ Q ANALYST PRESENTATION

TOFAŞ Q ANALYST PRESENTATION TOFAŞ Q1 2016 ANALYST PRESENTATION 03.05.2016 1 2016 Q1 AGENDA Highlights Turkish Automotive Industry Production & Capacity Utilization Domestic Market Developments Tofaş Domestic Market Performance Export

More information

A2A-LGH Partnership. Milan, September 8 th, Borsa Italiana Italian Infrastructure Day

A2A-LGH Partnership. Milan, September 8 th, Borsa Italiana Italian Infrastructure Day A2A-LGH Partnership Milan, September 8 th, 2016 Borsa Italiana Italian Infrastructure Day Partnership Rationale PARTNERSHIP CRITERIA PARTNERSHIP OPPORTUNITIES Territorial leadership Territorial investments

More information

SOLLERS IFRS RESULTS

SOLLERS IFRS RESULTS SOLLERS IFRS RESULTS 2017 03.05.2018 2 1. 2017 SOLLERS STRATEGIC DEVELOPMENTS 2. RUSSIAN AUTOMOTIVE MARKET OVERVIEW 3. SOLLERS OPERATING AND FINANCIAL PERFORMANCE IN 2017 4. SOLLERS JOINT VENTURES RESULTS

More information

FISCAL YEAR MARCH 2018 FIRST HALF FINANCIAL RESULTS

FISCAL YEAR MARCH 2018 FIRST HALF FINANCIAL RESULTS FISCAL YEAR MARCH 2018 FIRST HALF FINANCIAL RESULTS PRESENTATION OUTLINE Highlights Fiscal Year March 2018 First Half Results Fiscal Year March 2018 Full Year Forecast Progress of Key Initiatives/ Business

More information

BMW Group Investor Relations.

BMW Group Investor Relations. Capital Markets Day China 2010 Beijing September 16, 2010 - Please check against delivery - Statement by Dr. Friedrich Eichiner Member of the Board of Management of BMW AG, Finance Capital Markets Day

More information

PT Astra International Tbk 2017 Full Year Financial Statements

PT Astra International Tbk 2017 Full Year Financial Statements To: Business Editor 27th February 2018 For immediate release PT Astra International Tbk 2017 Full Year Financial Statements The following announcement was issued today by the Company s 75%-owned subsidiary,

More information

Proposed acquisition of Areva Distribution. December 2, 2009

Proposed acquisition of Areva Distribution. December 2, 2009 Proposed acquisition of Areva Distribution December 2, 2009 Disclaimer All forward-looking statements are Schneider Electric management s present expectations of future events and are subject to a number

More information

FISCAL YEAR MARCH 2015 FIRST QUARTER FINANCIAL RESULTS. Mazda Roadster 25 th Anniversary Model

FISCAL YEAR MARCH 2015 FIRST QUARTER FINANCIAL RESULTS. Mazda Roadster 25 th Anniversary Model FISCAL YEAR MARCH 2015 FIRST QUARTER FINANCIAL RESULTS Mazda Roadster 25 th Anniversary Model Mazda Motor Corporation July 31, 2014 1 PRESENTATION OUTLINE Highlights Fiscal Year March 2015 First Quarter

More information

Advanced World Transport. Destination Europe

Advanced World Transport. Destination Europe Advanced World Transport Destination Europe 8 January 2015 Disclaimer This presentation was prepared by PKP CARGO S.A. ( Company, PKP CARGO ) for information purposes only. It cannot be duplicated, disseminated,

More information

Paris Tuesday, April 1, Europcar Groupe 2007 Annual Results

Paris Tuesday, April 1, Europcar Groupe 2007 Annual Results Paris Tuesday, April 1, 2008 Europcar Groupe 2007 Annual Results Speakers Salvatore Catania Chief Executive Officer, Europcar Groupe Charles Desmartis Chief Financial Officer, Europcar Groupe 1 Europcar

More information

PKC Group establishes Joint Venture with JAC. Matti Hyytiäinen, President & CEO

PKC Group establishes Joint Venture with JAC. Matti Hyytiäinen, President & CEO PKC Group establishes 50-50 Joint Venture with JAC Matti Hyytiäinen, President & CEO 1 PKC Group makes a major breakthrough in China and establishes JV with JAC PKC Group has signed an agreement to establish

More information

HONDA CANADA FINANCE INC. AUTO FINANCE FORUM February 15, ACCORD

HONDA CANADA FINANCE INC. AUTO FINANCE FORUM February 15, ACCORD HONDA CANADA FINANCE INC. AUTO FINANCE FORUM February 15, 2018 2018 ACCORD 1 Caution with Respect to Forward-Looking Statements: These slides contain forward-looking statements within the meaning of the

More information

Global Automotive Outlook

Global Automotive Outlook Global Automotive Outlook The Race for Sales, Electric Cars, Profitability and Innovation Marco Hauschel Nathan Carlesimo Maxime Lemerle Economic Research September 2017 Update After a healthy recovery

More information

Bank of America/Merrill Lynch Insurance Conference Joseph P. Lacher President, Allstate Protection The Allstate Corporation

Bank of America/Merrill Lynch Insurance Conference Joseph P. Lacher President, Allstate Protection The Allstate Corporation Bank of America/Merrill Lynch Insurance Conference Joseph P. Lacher President, Allstate Protection The Allstate Corporation Safe Harbor This presentation contains forward-looking statements and information.

More information

SOLLERS COMPANY OVERVIEW

SOLLERS COMPANY OVERVIEW SOLLERS COMPANY OVERVIEW 1. CORPORATE STRUCTURE GROUP PRODUCTION FACILITIES 2. FY2015 MARKET OVERVIEW FY2015 OPERATING RESULTS 3. 2M2016 OPERATING RESULTS SHAREHOLDER EQUITY AND STOCK INFORMATION 2 CORPORATE

More information

Corporate Communications. Press Release 13 March 2012

Corporate Communications. Press Release 13 March 2012 13 March 2012 BMW Group targets another record year in 2012 New highs forecast for sales volume and earnings EBIT margin of 8 to 10% targeted in Automotive segment Sales volume of over two million vehicles

More information

Steering ahead FY2012 Results Briefing 22 nd June 2012

Steering ahead FY2012 Results Briefing 22 nd June 2012 Steering ahead FY2012 Results Briefing 22 nd June 2012 AGENDA FY2012 Highlights Business Overview Financial and Operations Highlights Industry Review Outlook & Growth Strategies FY2012 HIGHLIGHTS Revenue

More information

EXANE BNP PARIBAS 13th European Seminar June 8, 2011

EXANE BNP PARIBAS 13th European Seminar June 8, 2011 EXANE BNP PARIBAS 13th European Seminar June 8, 2011 This presentation may contain forward-looking statements. Such forward-looking statements do not constitute forecasts regarding the Company s results

More information

Record CY 2016 EPS-diluted-adjusted of $6.12, an increase of $1.10 Y-O-Y. Q EPS-diluted-adjusted of $1.28, a decrease of $0.11 Y-O-Y.

Record CY 2016 EPS-diluted-adjusted of $6.12, an increase of $1.10 Y-O-Y. Q EPS-diluted-adjusted of $1.28, a decrease of $0.11 Y-O-Y. 1 2 3 Q4 2016 global deliveries up 0.1 million units year-over-year (Y-O-Y), a 3.3% increase. Volume gains primarily in North America and China, offset by reductions in International Operations (excluding

More information

Half Year 17 Presentation. 29 November 2016

Half Year 17 Presentation. 29 November 2016 Half Year 17 Presentation 29 November 2016 Important information The information in this presentation is of a general nature and does not constitute financial product advice, investment advice or any recommendation.

More information

How much oil are electric vehicles displacing?

How much oil are electric vehicles displacing? How much oil are electric vehicles displacing? Aleksandra Rybczynska March 07, 2017 Executive summary EV s influence on global gasoline and diesel consumption is small but increasing quickly. This short

More information

Tofaş Türk Otomobil Fabrikası A.Ş.

Tofaş Türk Otomobil Fabrikası A.Ş. Tofaş Türk Otomobil Fabrikası A.Ş. REPORT ON ASSOCIATED PARTY TRANSACTIONS WHICH WERE PERFORMED IN 2014 AND WILL BE REPEATED IN 2015 UNDER THE SAME CONDITIONS General Information This report is created

More information

China Automotive Distribution and. Jan. 2018

China Automotive Distribution and. Jan. 2018 China Automotive Distribution and Aftermarket Industry Report, 2017-20212021 Jan. 2018 STUDY GOAL AND OBJECTIVES This report provides the industry executives with strategically significant competitor information,

More information

Corporate Communications. Media Information 7 November Check against delivery - Ladies and Gentlemen,

Corporate Communications. Media Information 7 November Check against delivery - Ladies and Gentlemen, Media Information - Check against delivery - Statement Dr. Nicolas Peter Member of the Board of Management of BMW AG, Finance Conference Call Interim Report to 30 September 2017, 10:00 a.m. CET Good morning

More information

Investor Relations News

Investor Relations News Investor Relations News Financial year 2017: MTU Aero Engines AG once again posts record figures Earnings forecast for 2017 fully met Outlook for 2018: Moderate earnings increase, cash conversion rate

More information

FISCAL YEAR MARCH 2018 THIRD QUARTER FINANCIAL RESULTS

FISCAL YEAR MARCH 2018 THIRD QUARTER FINANCIAL RESULTS FISCAL YEAR MARCH 2018 THIRD QUARTER FINANCIAL RESULTS PRESENTATION OUTLINE Highlights Fiscal Year March 2018 Nine Month Results Fiscal Year March 2018 Full Year Forecast Progress of Key Initiatives 1

More information

CREDIT UNION ESTIMATES

CREDIT UNION ESTIMATES MONTHLY CREDIT UNION ESTIMATES Prepared February 1, 2018 by Credit Union National Association Economics and Statistics Department cuna.org/mcue Loans Credit union loans outstanding grew 1.0% in, compared

More information

FIRST RESOURCES LIMITED

FIRST RESOURCES LIMITED FIRST RESOURCES LIMITED 1 Disclaimer The information contained in this document has not been independently verified. No representation or warranty express or implied is made as to, and no reliance should

More information

Investor Presentation. March 2017

Investor Presentation. March 2017 Investor Presentation March 2017 Disclaimer During this presentation management may discuss certain forwardlooking statements concerning Nemak s future performance that should be considered as good faith

More information

CREDIT UNION ESTIMATES

CREDIT UNION ESTIMATES MONTHLY CREDIT UNION ESTIMATES Prepared March 2, 2018 by Credit Union National Association Economics and Statistics Department cuna.org/mcue Loans Credit union loans outstanding grew 0.7% in, compared

More information

Automotive financial services in Germany Motor Finance Summit Europe

Automotive financial services in Germany Motor Finance Summit Europe Automotive financial services in Germany Motor Finance Summit Europe Munich, 23rd April 2015 Agenda 1. Overview: The German auto finance & leasing market 2. Relevance of captive financial services......

More information

JAGUAR LAND ROVER RESULTS FOR THE THREE MONTHS ENDED 31 DECEMBER th FEBRUARY 2017

JAGUAR LAND ROVER RESULTS FOR THE THREE MONTHS ENDED 31 DECEMBER th FEBRUARY 2017 JAGUAR LAND ROVER RESULTS FOR THE THREE MONTHS ENDED 31 DECEMBER 2016 14 th FEBRUARY 2017 DISCLAIMER Statements in this presentation describing the objectives, projections, estimates and expectations of

More information

FISCAL YEAR MARCH 2018 FIRST QUARTER FINANCIAL RESULTS

FISCAL YEAR MARCH 2018 FIRST QUARTER FINANCIAL RESULTS FISCAL YEAR MARCH 2018 FIRST QUARTER FINANCIAL RESULTS PRESENTATION OUTLINE Highlights Fiscal Year March 2018 First Quarter Results Fiscal Year March 2018 Full Year Forecast Structural Reform Stage 2 Progress

More information

Self-Driving Cars: The Next Revolution. Los Angeles Auto Show. November 28, Gary Silberg National Automotive Sector Leader KPMG LLP

Self-Driving Cars: The Next Revolution. Los Angeles Auto Show. November 28, Gary Silberg National Automotive Sector Leader KPMG LLP Self-Driving Cars: The Next Revolution Los Angeles Auto Show November 28, 2012 Gary Silberg National Automotive Sector Leader KPMG LLP 0 Our point of view 1 Our point of view: Self-Driving cars may be

More information

SAA Financial Results 2008/09. Building on Restructuring

SAA Financial Results 2008/09. Building on Restructuring SAA Financial Results 2008/09 Building on Restructuring 1 Content 1. Industry, Strategic and Operational Overview 2. Financial Overview 3. Conclusion and Way Forward 2 Industry Overview The airline industry

More information

PUBLIC EXPOSE TAHUNAN PT INTAN BARUPRANA FINANCE TBK. Auditorium 5 th Floor, INTA HQ Building Jakarta, 27 Oktober 2015

PUBLIC EXPOSE TAHUNAN PT INTAN BARUPRANA FINANCE TBK. Auditorium 5 th Floor, INTA HQ Building Jakarta, 27 Oktober 2015 PUBLIC EXPOSE TAHUNAN PT INTAN BARUPRANA FINANCE TBK Auditorium 5 th Floor, INTA HQ Building Jakarta, 27 Oktober 2015 Key Company Highlights Vision, Mission, Strategy VISION To be Tier 1 Finance Company

More information

Money & Credit: US Monetary Aggregates

Money & Credit: US Monetary Aggregates Money & Credit: US Monetary Aggregates March 8, 218 Dr. Edward Yardeni 16-972-7683 eyardeni@ Debbie Johnson 48-664-1333 djohnson@ Please visit our sites at www. blog. thinking outside the box Table Of

More information

Introducing Implats. Investor Presentation

Introducing Implats. Investor Presentation Investor Presentation Deutsche Bank s South Africa Conference London 20 21 June 2007 Introducing Implats Contribution to sales revenue by metal Implats is in the business of mining, refining and marketing

More information

Investor Relations News

Investor Relations News Investor Relations News MTU Aero Engines AG posts new record revenues and earnings for 2016 2017: End of investment phase with further increase in revenues, earnings and free cash flow Outlook for 2017:

More information

FOURTH QUARTER 2013 RESULTS

FOURTH QUARTER 2013 RESULTS FOURTH QUARTER 213 RESULTS 12 MARCH 214 LUCA BETTONTE, CEO DISCLAIMER This document contains certain forward-looking information that is subject to a number of factors that may influence the accuracy of

More information

FISCAL YEAR ENDING MARCH 2012 FIRST HALF FINANCIAL RESULTS

FISCAL YEAR ENDING MARCH 2012 FIRST HALF FINANCIAL RESULTS FISCAL YEAR ENDING MARCH 2012 FIRST HALF FINANCIAL RESULTS Mazda Motor Corporation November 2, 2011 New Mazda CX-5 (European specifications) 1 PRESENTATION OUTLINE Highlights Fiscal Year Ending March 2012

More information

MAN AG I. Ulf Steinborn. Vice President Strategy & Structure. Investor Presentation

MAN AG I. Ulf Steinborn. Vice President Strategy & Structure. Investor Presentation MAN AG Ulf Steinborn Vice President Strategy & Structure MAN AG I Investor Presentation 09/12/ < > Profile Transport related Engineering Sales 13.2 bill.; Operating Profit 1,105 mill.; 50,290 Employees

More information

First in Mind First in Choice. Capital Markets Day 2006 Gunnar Brock, President and CEO

First in Mind First in Choice. Capital Markets Day 2006 Gunnar Brock, President and CEO First in Mind First in Choice Capital Markets Day 26 Gunnar Brock, President and CEO 1 December 4, 26 www.atlascopco.com Atlas Copco in a Snapshot Continuing operations A world leading provider of industrial

More information

CREDIT UNION ESTIMATES

CREDIT UNION ESTIMATES MONTHLY CREDIT UNION ESTIMATES Prepared November 1, 2017 by Credit Union National Association Economics and Statistics Department cuna.org/mcue Loans Credit union loans outstanding grew 0.7% in, compared

More information

Annual Press Conference

Annual Press Conference Annual Press Conference Stuttgart, 16 December 2016 Prof. Dr. Michael Kaschke President & Chief Executive Officer Thomas Spitzenpfeil Chief Financial Officer ZEISS Group, 2015/16 Annual Press Conference

More information

Earnings conference call Q3 2016

Earnings conference call Q3 2016 Earnings conference call Q3 2016 Bo Annvik, CEO / Åke Bengtsson, CFO October 25, 2016 1 Agenda Business Highlights Market Update Sales Financials Outlook Public offer 2 Business Highlights Q3 2016 Solid

More information

2016 Annual Results Presentation. March 15, 2017

2016 Annual Results Presentation. March 15, 2017 2016 Annual Results Presentation March 15, 2017 Frank Chan 2 2016 Full Year Results (US$ m) 2015 2016 Change Local Curr Sales $5,038 $5,480 +8.8% +9.8% Gross Profit $1,798 $1,985 +10.4% Gross Margin %

More information

The Hybrid and Electric Vehicles Manufacturing

The Hybrid and Electric Vehicles Manufacturing Photo courtesy Toyota Motor Sales USA Inc. According to Toyota, as of March 2013, the company had sold more than 5 million hybrid vehicles worldwide. Two million of these units were sold in the US. What

More information

Quant Briefing: Revenues, Earnings, & Margins

Quant Briefing: Revenues, Earnings, & Margins Quant Briefing: Revenues, Earnings, & Margins February 6, 2018 Dr. Edward Yardeni 516-972-7683 eyardeni@yardeni.com Joe Abbott 732-497-5306 jabbott@yardeni.com Please visit our sites at blog.yardeni.com

More information

Quant Briefing: Revenues, Earnings, & Margins

Quant Briefing: Revenues, Earnings, & Margins Quant Briefing: Revenues, Earnings, & Margins February 19, 2018 Dr. Edward Yardeni 516-972-7683 eyardeni@yardeni.com Joe Abbott 732-497-5306 jabbott@yardeni.com Please visit our sites at blog.yardeni.com

More information

MONRO, INC. ANNOUNCES SECOND QUARTER FISCAL 2018 FINANCIAL RESULTS

MONRO, INC. ANNOUNCES SECOND QUARTER FISCAL 2018 FINANCIAL RESULTS CONTACT: Brett Ponton Chief Executive Officer (585) 647-6400 FOR IMMEDIATE RELEASE Brian D Ambrosia Senior Vice President Finance Chief Financial Officer (585) 647-6400 Investors and Media: Effie Veres

More information

Megatrends and their Impact on the Future of Mobility

Megatrends and their Impact on the Future of Mobility Megatrends and their Impact on the Future of Mobility Lisa Whalen w w w. m a r k e t s a n d m a r k e t s. c o m w w w. m a r k e t s a n d m a r k e t s. c o m 1 MARKETSANDMARKETS THE WORLD S LARGEST

More information

Mid-term Business Plan February 7th, 2018

Mid-term Business Plan February 7th, 2018 Mid-term Business Plan 2020 February 7th, 2018 Contents Review of Previous Mid-term Business Plan (2015-2017) Environment Result Activity Mid-term Business Plan 2020 Outlook of Long Term Energy Consumptions

More information

State Bank of India PRESS RELEASE

State Bank of India PRESS RELEASE State Bank of India PRESS RELEASE Q2FY18 / H1FY18 RESULTS Note: Historical Data has been arrived at by aggregating the audited numbers of the erstwhile Associate Banks, Bharatiya Mahila Bank and SBI for

More information

FY2/17 (March 2016~February 2017)

FY2/17 (March 2016~February 2017) FY2/17 (March 2016~February 2017) Fact Book 1. Trends in the current fiscal year and previous fiscal year 3. Business overview (1) Performance overview P. 1 (1) No. of students at the end of month P. 7

More information

Federal-Mogul LLC. Company Overview

Federal-Mogul LLC. Company Overview Federal-Mogul LLC Company Overview Company Highlights Global scale with extensive, cost competitive manufacturing, engineering and distribution footprint Diversified revenues by end-market, geography,

More information

INTEGRATED PLANTATION WITH LEADING BRANDS. Company Presentation - Q Results

INTEGRATED PLANTATION WITH LEADING BRANDS. Company Presentation - Q Results INTEGRATED PLANTATION WITH LEADING BRANDS Company Presentation - Q1 2007 Results April 2007 DISCLAIMER This presentation was prepared solely and exclusively for the parties presently being invited for

More information

NAVISTAR ANNOUNCES WIDE-RANGING STRATEGIC ALLIANCE WITH VOLKSWAGEN TRUCK & BUS

NAVISTAR ANNOUNCES WIDE-RANGING STRATEGIC ALLIANCE WITH VOLKSWAGEN TRUCK & BUS Navistar International Corporation 2701 Navistar Dr. Lisle, IL 60532 USA P: 331-332-5000 W: navistar.com Media contacts: Lyndi McMillan, Lyndi.McMillan@Navistar.com, +1 331 332 3181 Claudia Gray, Cgray@Brunswickgroup.com,

More information

Developments in China s methanol market and implications for global supply Seoul

Developments in China s methanol market and implications for global supply Seoul Developments in China s methanol market and implications for global supply Seoul Anu Agarwal 8 May 2015 London Houston Washington New York Portland Calgary Santiago Bogota Rio de Janeiro Singapore Beijing

More information

Jaguar Land Rover Results For the quarter ended 30 June August 2015

Jaguar Land Rover Results For the quarter ended 30 June August 2015 Jaguar Land Rover Results For the quarter ended 30 June 2015 7 August 2015 1 Disclaimer Statements in this presentation describing the objectives, projections, estimates and expectations of Jaguar Land

More information

Franchising. Bruce R. Barringer R. Duane Ireland

Franchising. Bruce R. Barringer R. Duane Ireland Franchising Bruce R. Barringer R. Duane Ireland 1 Chapter Objectives 1 of 2 1. Explain franchising and how this form of business ownership works. 2. Describe steps entrepreneurs can take to establish a

More information

Auto incentives and consumer spending on vehicles. Ted Chu, Senior Economist General Motors Corporation June 3, 2004

Auto incentives and consumer spending on vehicles. Ted Chu, Senior Economist General Motors Corporation June 3, 2004 Auto incentives and consumer spending on vehicles Ted Chu, Senior Economist General Motors Corporation June 3, 2004 Agenda Incentive pressures and consumer affordability Dept of Commerce Bureau of Economic

More information

Oerlikon continues strong profitable sales growth

Oerlikon continues strong profitable sales growth Nine-month Results 2011 Oerlikon continues strong profitable sales growth Oerlikon s efficient sales conversion, new products and disciplined implementation of operational excellence initiatives deliver

More information

This presentation may contain statements that are forward looking. These statements are based on current expectations and assumptions that are

This presentation may contain statements that are forward looking. These statements are based on current expectations and assumptions that are This presentation may contain statements that are forward looking. These statements are based on current expectations and assumptions that are subject to risks and uncertainties, which may cause actual

More information

I would like to talk about our business strategy in Automotive & Industrial Systems (AIS) Company.

I would like to talk about our business strategy in Automotive & Industrial Systems (AIS) Company. I would like to talk about our business strategy in Automotive & Industrial Systems (AIS) Company. Here are what I would like to talk today. First, FY2015 progress. In FY2015 IH, both sales and OP increased.

More information

Interim statement as of 30 September 2017 Conference call

Interim statement as of 30 September 2017 Conference call Interim statement as of 30 September 2017 Conference call Dr. Volker Hues Member of the Board of Management, Finance Hamburg, 7 November 2017 Jungheinrich highlights Q1 Q3 2017 Forecast for the whole of

More information

Earnings conference call. Q4 and Full year 2015

Earnings conference call. Q4 and Full year 2015 Earnings conference call Q4 and Full year 2015 Bo Annvik, CEO / Åke Bengtsson, CFO 11 February 2016 1 Agenda Business Highlights Market Update Sales Financials Outlook 2 2015 in numbers Operating margin

More information

The IAM in Pre-Selection of global automotive trends impacting the independent multi-brand aftermarket

The IAM in Pre-Selection of global automotive trends impacting the independent multi-brand aftermarket The IAM in 2030 Pre-Selection of global automotive trends impacting the independent multi-brand aftermarket 10th of June 2016 The automotive aftermarket is based on a highly complex value chain with a

More information

REC GROUP SOLAR MARKET INSIGHT Q1 2017

REC GROUP SOLAR MARKET INSIGHT Q1 2017 REC GROUP SOLAR MARKET INSIGHT Q1 2017 May 2017 Major REC Q1 2017 Highlights REC saw shipments of 300 MW in Q1 2017 Q1 2017 marked the best quarter ever for volume in the APAC 1 region, with sales driven

More information

Zur Rose Group Q Trading Update

Zur Rose Group Q Trading Update Zur Rose Group Q3 2017 Trading Update Walter Oberhänsli Marcel Ziwica 17 October 2017 Agenda Highlights Business Update Financial Update Outlook Zur Rose Group Conference call 23 August 2017 3 Highlights

More information

The Status of Transportation Funding, Road Charge and Vehicle Miles Traveled in California

The Status of Transportation Funding, Road Charge and Vehicle Miles Traveled in California The Status of Transportation Funding, Road Charge and Vehicle Miles Traveled in California Long-Term Policy Options for Sustainable Transportation Options NCSL State Transportation Leaders Symposium October

More information

ANNUAL FINANCIAL PROFILE OF AMERICA S FRANCHISED NEW-CAR DEALERSHIPS

ANNUAL FINANCIAL PROFILE OF AMERICA S FRANCHISED NEW-CAR DEALERSHIPS 2015 ANNUAL FINANCIAL PROFILE OF AMERICA S FRANCHISED NEW-CAR DEALERSHIPS NATIONAL AUTOMOBILE DEALERS ASSOCIATION Overview Steven Szakaly Chief Economist, NADA Patrick Manzi Senior Economist, NADA NADA

More information

Valvoline Inc. Reports Preliminary Financial Results for Fourth Quarter of Fiscal 2016

Valvoline Inc. Reports Preliminary Financial Results for Fourth Quarter of Fiscal 2016 NEWS RELEASE Valvoline Inc. Reports Preliminary Financial Results for Fourth Quarter of Fiscal 2016 11/8/2016 Fourth Quarter Financial Highlights Completed initial public offering of 34,500,000 Valvoline

More information

Establishment of Joint Venture with PSA for EV Traction Motor Business

Establishment of Joint Venture with PSA for EV Traction Motor Business NIDEC CORPORATION Establishment of Joint Venture with PSA for EV Traction Motor Business Nidec Corporation December 4 th, 2017 Note Regarding Forward-looking Statements These presentation materials and

More information

Hello, my name is Takehiro Kamigama. I will present the full-year consolidated projections for fiscal 2015.

Hello, my name is Takehiro Kamigama. I will present the full-year consolidated projections for fiscal 2015. Hello, my name is Takehiro Kamigama. I will present the full-year consolidated projections for fiscal 2015. My first slide shows you our performance and dividend forecasts. We expect net sales to grow

More information

Understanding Impacts of Distributed Solar Generation on Cost Recovery and Rates IAMU Annual Energy Conference Preconference Seminar

Understanding Impacts of Distributed Solar Generation on Cost Recovery and Rates IAMU Annual Energy Conference Preconference Seminar Understanding Impacts of Distributed Solar Generation IAMU Annual Energy Conference Preconference Seminar David A. Berg, PE Principal November 3, 2015 Your Presenter David Berg, PE Principal Dave Berg

More information

Manitoba Economic Highlights

Manitoba Economic Highlights Economic Overview Real Gross Domestic Product The Manitoba Bureau of Statistics estimates that Manitoba s real GDP grew 1.9% in 2016, above the national average of 1.4%. Manitoba s real GDP is expected

More information

CapitaMalls Malaysia Trust, largest pure-play shopping mall REIT in Malaysia, launches prospectus and retail offering

CapitaMalls Malaysia Trust, largest pure-play shopping mall REIT in Malaysia, launches prospectus and retail offering NEWS RELEASE For immediate release 28 June 2010 CapitaMalls Malaysia Trust, largest pure-play shopping mall REIT in Malaysia, launches prospectus and retail offering Retail offering at RM1.08 per unit,

More information

PT Astra International Tbk 2009 Full Year Financial Statements

PT Astra International Tbk 2009 Full Year Financial Statements To: Business Editor For immediate release PT Astra International Tbk 2009 Full Year Financial Statements The following announcement was issued today by the Company s 69%-owned subsidiary, Jardine Cycle

More information

BRINGING BUILDINGS TO LIFE

BRINGING BUILDINGS TO LIFE 2017 Q3 Mattias Johansson, CEO Nils-Johan Andersson, CFO 10 November 2017 BRINGING BUILDINGS TO LIFE Today s presenters Mattias Johansson, CEO and Group President Nils-Johan Andersson, CFO CEO since 1

More information

Belgrade PPP Parking Project. April 2017

Belgrade PPP Parking Project. April 2017 Belgrade PPP Parking Project April 207 Executive summary Project CarBox Belgrade PPP Parking Project The Project includes four planned underground garages in the centre of Belgrade ( City ). The Project

More information

Edison S.p.A. - Strategy and SWOT Report

Edison S.p.A. - Strategy and SWOT Report Edison S.p.A. - Strategy and SWOT Report Edison S.p.A. - Strategy and SWOT Report The Business Research Store is run by Sector Publishing Intelligence Ltd. SPi has been selling professional market research

More information

Statement Dr. Norbert Reithofer Chairman of the Board of Management of BMW AG Conference Call Interim Report to 30 June August 2014, 10:00 a.m.

Statement Dr. Norbert Reithofer Chairman of the Board of Management of BMW AG Conference Call Interim Report to 30 June August 2014, 10:00 a.m. - Check against delivery - Statement Dr. Norbert Reithofer Chairman of the Board of Management of BMW AG Conference Call Interim Report to 30 June 2014, 10:00 a.m. Ladies and Gentlemen! Since July, Europe

More information

INNOSPEC Expanding Business Developing Technologies. September 2017

INNOSPEC Expanding Business Developing Technologies. September 2017 INNOSPEC Expanding Business Developing Technologies September 2017 FORWARD-LOOKING STATEMENTS 2 This presentation contains certain "forward-looking statements" within the meaning of the Private Securities

More information

CHAPTER 20 MOTOR VEHICLES

CHAPTER 20 MOTOR VEHICLES CHAPTER 20 MOTOR VEHICLES 20.1 In India the first car ran on roads in 1897. Prior to independence in the 1940s India had no automobile industry to speak of. Cars were brought into the country in a knocked

More information

Formosa Petrochemical Corporation 2006 Q3 Financial Results

Formosa Petrochemical Corporation 2006 Q3 Financial Results Formosa Petrochemical Corporation 26 Q3 Financial Results November 26 Index Our Company 2 Financials 3 Refinery Division 4 Olefins Division 5 Capital Expansion 2 Our Company: Leading Private Integrated

More information

CONFERENCE CALL RESULTS Q1 2017

CONFERENCE CALL RESULTS Q1 2017 CONFERENCE CALL RESULTS Q1 2017 May 5, 2017 Marc Bunz (CFO) Nicolas-Fabian Schweizer (CTO) AGENDA Market & Strategy Update Financials 2016 Financials Q1 2017 Outlook SCHWEIZER Share Schweizer Electronic

More information

GDP QUARTERLY. November 29, Sutapa Roy

GDP QUARTERLY. November 29, Sutapa Roy GDP QUARTERLY November 29, 2013 Sutapa Roy E-mail: s-roy@microsec.in - 1 - Quarterly GDP (Q2 of FY2013-14) India s GDP grew at the rate of 4.8 percent in Q2 of FY2013-14 from a year earlier, after expanding

More information

16 17F 18F 19F 16 17F 18F 19F 16 17F 18F 19F 16 17F 18F 19F 16 17F 18F 19F 16 17F 18F 19F 16 17F 18F 19F

16 17F 18F 19F 16 17F 18F 19F 16 17F 18F 19F 16 17F 18F 19F 16 17F 18F 19F 16 17F 18F 19F 16 17F 18F 19F Forecast detail Average annual % change unless otherwise indicated Real GDP Nominal Employment Unemployment rate Housing starts GDP % Thousands Retail sales CPI 16 17F 18F 19F 16 17F 18F 19F 16 17F 18F

More information