Fiscal Year 2015 Financial Results

Transcription

1 Fiscal Year 2015 Financial Results Nissan Motor Co., Ltd May 12, 2016 results FY16 outlook 2

2 Key performance indicators: financial results (TSE report basis - China JV Equity basis) Net revenue Operating profit Net income Free cash flow (Auto) Net cash (Auto) 11, , , , Net income attributable to owners of the parent 3 sales performance: Global TIV 1 Retail volume vs. Global +2.1% Japan -6.8% 2 M/S M/S 6.2% 6.2% 5, , vs. Global +2.0% Japan -8.1% China +6.0% 3 1, ,250 China % (million units) (16.73) (17.60) North America (US) Europe (Incl. Russia) Others +5.8% (+5.2%) +3.5% -4.8% (thousand units) 1,829 (1,400) ,011 (1,517) North America (US) Europe (Incl. Russia) Others +9.9% (+8.4%) -0.2% -5.9% 1: Nissan s estimation 2: Market Share 4: PV: Retail sales base, LCV: Wholesale base 3: Wholesale base 5: After adjustment for PV in 2014 to retail base 4

3 sales performance: Japan Retail volume TIV: 4.94 million units, -6.8% (thousand units) % 573 Sales: 573 k units, -8.1% Market share: 11.6%, -0.2 points X-Trail: 62.5 k units Market share (%) points 11.6 X-Trail Nissan LEAF 5 sales performance: China (Jan. to Dec.) (thousand units) Retail volume +6.3% 1 2 1,176 1,250 3 TIV : million units, +6.0% Sales: 1,250 k units, +6.3% Market share: 5.3%, 0.0 points 2 2 X-Trail: k units Market share Sylphy series: k units 0.0 points X-Trail Sylphy (%) : PV: Retail sales base, LCV: Wholesale base 2: PV volume was restated to retail sales base for comparison 3: PV and LCV only 6

4 sales performance: North America (thousand units) US Retail volume +8.4% 1,517 1,400 US Market share +0.2 points US TIV: million units, +5.2% Sales: 1,517 k units, +8.4% Market share: 8.6%, +0.2 points Canada Sales: 134 k units, +13.3% Market share: 6.9%, +0.6 points Mexico Sales: 358 k units, +15.3% Market share: 25.7%, -0.4 points (%) Altima Rogue 7 sales performance: Europe (Incl. Russia) (thousand units) Retail volume -0.2% Market share -0.2 points Europe excluding Russia TIV: million units, +8.7% Sales: 637 k units, +9.4% Market share: 3.8%, 0.0 points Russia TIV: 1.54 million units, -32.4% Sales: 116 k units, -32.6% Market share: 7.6%, 0.0 points (%) Qashqai Infiniti Q30 8

5 sales performance: Other markets Estimated TIV: million units, -4.8 % (thousand units) Retail volume -5.9% Sales: 835 k units, -5.9% Asia & Oceania: 357 k units, -1.7% M/S Latin America: 171 k units, -6.7% M/S Middle East: 208 k units, -12.4% M/S Africa: 99 k units, -4.1% M/S Market Share NP300 Navara Datsun GO+ Panca 9 sales performance: Infiniti (thousand units) Retail volume % 218 Infiniti Sales: 218 k units, +14.9% 19 th consecutive month with global year-on-year growth Market Share Infiniti Q50 Infiniti QX60 Infiniti volumes are also included in regional sales 10

6 financial performance (TSE report basis - China JV Equity basis) Net revenue 11,375.2 Variance 12, Change vs. (%) +7.2% Operating profit OP margin 5.2% 6.5% Non-operating % Ordinary profit Extraordinary % Net income FX rate Profit before tax Taxes Effective tax rate 28.7% 24.6% 1 Minority interest JPY/USD JPY/EUR JPY/USD JPY/EUR JPY/USD -6.1 JPY/EUR +6.6% +14.5% 1: Net income attributable to non-controlling interests 2: Net income attributable to owners of the parent 11 financial performance (TSE report basis - China JV Equity basis) Operating profit variance analysis Q Full year O.P. FOREX Cost items Volume / mix Marketing & Selling exp. R&D exp. MFG exp. Including purch. cost reduction, raw material and product enrichment Other items Full year O.P

7 Net Cash (Auto business) (TSE report basis - China JV Equity basis) 1,600 1,400 1,200 1, FX: JPY/USD End of month 1, Mar. 1, Mar. 1, Mar Key performance indicators: financial results 1 (management pro forma basis ) Net revenue Operating profit Net income 2 Free cash flow (Auto) Net cash (Auto) 12, , , , : Based on continuation of proportionate consolidation of China JV 2: Net income attributable to owners of the parent 14

8 financial performance 1 (management pro forma basis ) Variance Change vs. (%) Net revenue 12, , % Operating profit % OP margin 5.8% 7.0% +1.2% 2 Net income % FX rate JPY/USD JPY/EUR JPY/USD JPY/EUR JPY/USD -6.1 JPY/EUR 1: Based on continuation of proportionate consolidation of China JV 2: Net income attributable to owners of the parent 15 results FY16 outlook 16

9 Nissan Power 88 progress (thousand units) Sales volume Operating profit Total assets Free cash flow (Auto) Net cash (Auto) +29.6% 5, % % 18,021.6 Cumulative 1.7 tri. JPY (exceeded NP88 objective 1.5 tri. JPY) % 1, , , % FY10 FY10 FY10 FY10 FY10 Based on continuation of proportionate consolidation of China JV 17 Nissan Power 88 COP margin trajectory First half Second half 7.0% 5.8% 5.4% 5.3% 5.8% FY11 FY12 FY13 FY16 Based on continuation of proportionate consolidation of China JV 18

10 Product offensive continues: Japan 19 Product offensive continues: China Launched in 2015 Launched in 2016 (Mar.) All-new Lannia New Sylphy Coming in 2016 Coming in 2016 All-new Tiida All-new Maxima 20

11 Product offensive continues: US Launched in 2015 New Sentra All-new Titan New Altima All-new Maxima 21 Product offensive continues: Europe Launched in 2015 Q30 22

12 Product offensive continues: Kicks Coming in 2016 Kicks 23 Product offensive continues: Infiniti Coming in 2016 Q60 24

13 Product offensive continues: Infiniti Coming in 2016 QX30 25 Product offensive continues: Datsun Coming in 2016 redi-go 26

14 Cost efficiencies Common Module Family 27 Revenue optimization Vehicle sales Sales finance Aftersales 28

15 Brand 29 Brand Sports sponsorship 30

16 Intelligent mobility vision Intelligent Mobility Autonomous Drive Electric Vehicle Connected Car 31 Intelligent mobility vision Autonomous drive roadmap Traffic Jam Single Lane Highway Multi Lane City Intersection 32

17 Alliance and strategic cooperation 33 Alliance and strategic cooperation ( billion) 5.5 Synergies (Visibility) 2018 (Target) 34

18 results FY16 outlook 35 FY16 sales outlook TIV 1 Retail volume vs. Global +2.6% Japan +1.9% M/S 2 6.2% 5, M/S 2 5, % vs. Global +3.3% Japan +1.3% China +4.0% 3 3 1, ,300 China +4.0% (million units) 20.9 (17.6) (17.8) North America (US) Europe (Incl. Russia) Others +1.2% (+1.1%) +2.2% +3.0% (thousand units) 2,011 (1,517) ,070 (1,570) North America (US) Europe (Incl. Russia) Others +2.9% (+3.5%) +2.2% +5.3% FY16 FY16 1: Nissan s estimation 2: Market Share 3: PV: Retail sales base, LCV: Wholesale base 36

19 FY16 outlook (TSE report basis - China JV Equity basis) actual FY16 outlook Variance Change vs. (%) Net revenue 12, , % Operating profit % OP margin 6.5% 6.0% -0.5% Ordinary profit % Net income % Net income ratio 4.3% 4.4% +0.1% CAPEX % Sales ratio 3.9% 4.6% +0.7% R&D % Sales ratio 4.4% 4.7% +0.3% FX rate assumptions (JPY/USD) (JPY/EUR) Net income attributable to owners of the parent 37 FY16 outlook (TSE report basis - China JV Equity basis) Operating profit variance analysis O.P. actual M&S Monozukuri and others FY16 O.P. outlook (w/o FX impact) FOREX FY16 O.P. outlook 38

20 1 FY16 outlook (management pro forma basis ) actual FY16 outlook Variance Change vs. (%) Net revenue 13, , % Operating profit % Net income % 1: Based on continuation of proportionate consolidation of China JV 2: Net income attributable to owners of the parent 39 FY16 shareholder return outlook Minimum payout ratio of 30% Announced share buyback program on February 26, 2016 (300 million shares up to 400 billion yen during 2016) % 48 dividend per share (yen) FY11 FY12 FY13 FY16 (Forecast) 40

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