FY2012. H1 Financial Results. November 8, Copyright(C) 2011 Isuzu Motors Limited All rights reserved

Transcription

1 FY2012 H1 Financial Results November 8, Copyright(C) 2011 Isuzu Motors Limited All rights reserved

2 Ⅰ. President and Representative Director : Susumu Hosoi :FY2012 H1 Financial Summary Outline Ⅱ. Director : Toshio Sasaki 1. Business Status 2. FY2012 H1 Financial Summary 3. FY2012 Full-year Outlook Ⅲ. President and Representative Director : Susumu Hosoi :Mid-term Business Strategy Ⅳ. Q&A Session Contents Statements contained in this presentation, except for historical or current facts, are based on certain assumptions and our management's judgment in light of currently available information. Therefore, these statements may be susceptible to various factors, such as uncertainty contained in the assumptions and management's judgment and economic changes in the future, which may cause to bring about different results in Isuzu's future earnings and operating results. Moreover, this presentation is not intended to solicit investment in Isuzu. Isuzu assumes no responsibility for any losses and liabilities that may be incurred because of the information in this presentation. 2 Copyright(C) 2011 Isuzu Motors Limited All rights reserved

3 President and Representative Director Susumu Hosoi 3 Copyright(C) 2011 Isuzu Motors Limited All rights reserved

4 FY2012 H1 Consolidated Results - Year-on on-year Comparison - ( JPY Bil. ) FY12 H1 Previous Forecast (June 22) Changes FY11 H1 Net Sales Operating Income Ordinary Income Net Income * FX: FY12 H1 = 81JPY/US$ FY11 H1= 89JPY/US$ 4 Copyright(C) 2011 Isuzu Motors Limited All rights reserved

5 FY2012 Full-Year Outlook -Actions FY2012 H2- Production Increase In Japan Meet increase in demand mainly in emerging economies and reconstruction demand in disaster-stricken area in Japan. Quickly eliminate outstanding orders from FY2012 H1. Planned CV shipments exceed shipment volume before global financial crisis. Production increase by flexible two shift-operation at LD line following HMD line/overtime work/work on Sundays and holidays Impact of Flooding in Thailand No direct damage to Isuzu Group entities (IMCT,IEMT,TID,IT Forging) because of flooding Production suspension from October 11, 2011 due to supply chain disruption from suppliers affected by the flooding ( production decrease of 1,000 CV units/24,000 LCV units up to November 11, 2011) Isuzu and its subsidiaries and suppliers are working hard to put its production back to normal after flooding stabilizes through sourcing adjustment and reinforcements sent from Japan. No impact on production in Japan as of today 5 Copyright(C) 2011 Isuzu Motors Limited All rights reserved

6 FY2012 Full-year Outlook - Year-on on-year Comparison - (JPY Bil) FY12 Previous Forecast (June 22) Changes FY11 Net Sales 1, , ,415.5 Operating Income Ordinary Income Net Income * Not including impacts of flood in Thailand. FX: FY12 = 78JPY/US$ FY11 = 85JPY/US$ 6 Copyright(C) 2011 Isuzu Motors Limited All rights reserved

7 Director of the Board, and Managing Executive Officer, Corporate Planning and Financial Toshio Sasaki 7 Copyright(C) 2011 Isuzu Motors Limited All rights reserved

8 Ⅱ-1. Business Status 8 Copyright(C) 2011 Isuzu Motors Limited All rights reserved

9 CV/LCV Global Shipment - Vehicle and KD-SET, etc: K-unitsK Reinforcing overseas operating Capabilities Entering New Markets (453) (520) (547) 640 (567) Global Financial crisis 554 (500) Inventory Adjustment 427 (386) (552) (578) 345 ( ):Overseas unit LCV Overseas CV Overseas FY05 FY06 FY07 FY08 FY09 FY10 FY11 FY12 Forecast 9 Copyright(C) 2011 Isuzu Motors Limited All rights reserved CV Domestic

10 CV Global Shipment - Vehicle and KD-SET, etc: K-unitsK Europe /3 11/3 12/3 Forecast /3 11/3 12/3 Forecast Mid-East/ Africa China Asia 29 10/3 11/3 12/3 Forecast /3 11/3 12/3 Forecast Japan 9 4 Shipment FY10 FY11 FY12 10/3 11/3 12/3 :H1 Forecast H1 63, , ,488 Forecast Oceania Mid-South H2 105, , ,000 America Full-year 168, , , Forecast Copyright(C) 2011 Isuzu Motors Limited All rights reserved /3 11/3 12/3 Forecast /3 11/3 12/3 Forecast North America /3 11/3 12/3

11 Japan Industry Sales and Isuzu Share - H/D, M/D Truck:4ton or above - (Unit) FY08-FY11 : FY Actual FY12: FY12-H1 Actual (Share) 120, % 32.8% 35% 100, % 32.9% 28.4% 30% 80,000 60,000 40,000 20, ,116 41,963 43,153 62,964 26,109 36,855 41,622 23,764 17,858 M/D Truck Share FY % FY % 51,412 25,275 26,137 23,762 FY08 FY09 FY10 FY11 FY12 11 Copyright(C) 2011 Isuzu Motors Limited All rights reserved H2 H1 25% 20% 15% 10% 5%

12 Japan Industry Sales and Isuzu Share - L/D(2-3ton) Truck - (Unit) 120, ,000 FY08-FY11 : FY Actual FY12: FY12-H1 Actual 38.6% 89, % 40.0% 40.2% 41.1% (Share) 45% 40% 80,000 60,000 40,000 44,213 70,059 31,177 48,859 26,700 54,469 27,980 H2 35% 30% 25% 20, ,618 38,882 H1 22,159 26,489 26,823 FY08 FY09 FY10 FY11 FY12 20% 15% 12 Copyright(C) 2011 Isuzu Motors Limited All rights reserved

13 LCV Global Shipment - Vehicle and KD-SET, etc: K-units K Europe /3 11/3 12/3 Forecast /3 11/3 12/3 China Forecast /3 11/3 12/3 Forecast Mid-East/ Africa /3 11/3 12/3 Forecast Asia /3 11/3 12/3 Oceania Shipment FY10 FY11 FY12 H1 100, , ,109 H2 158, , ,000 Full-year 258, , ,000 : H1 13 Forecast Copyright(C) 2011 Isuzu Motors Limited All rights reserved Forecast /3 11/3 12/3 Forecast Mid-South America

14 (K-unit) Pick-up truck monthly sales in Thailand APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR FY10 FY11 FY12 14 Copyright(C) 2011 Isuzu Motors Limited All rights reserved

15 Thailand LCV Shipment - Thai Domestic / Export Markets - (Unit) 350, , , , , ,055 71,160 72, ,350 79,245 81, ,981 64,485 67, ,573 44,325 55, ,337 64,530 69, ,000 67,000 KD-SET 66,000 Export 100,000 50, , , , , , ,000 Domestic 0 FY07 FY08 FY09 FY10 FY11 FY12 Forecast 15 Copyright(C) 2011 Isuzu Motors Limited All rights reserved

16 Industrial Engine Global Shipment - K-Units H H1 15 FY07 FY08 FY09 FY10 FY11 FY12 Forecast C(IDI) C(DI) 4L 4J 4H 6H 6U 6W Industrial Engine ~ l 16 Copyright(C) 2011 Isuzu Motors Limited All rights reserved

17 Ⅱ-2. FY2012 H1 Financial Summary April 2011 September Copyright(C) 2011 Isuzu Motors Limited All rights reserved

18 FY2012 H1 Consolidated Results - Year-on on-year Comparison - (JPY Bil.) FY12 H1 FY11 H1 Changes Net Sales Operating Income Ordinary Income Net Income * FX: FY12 H1 = 81JPY/US$ FY11 H1= 89JPY/US$ 18 Copyright(C) 2011 Isuzu Motors Limited All rights reserved

19 FY2011 vs. FY2012 H1 Fluctuations - Consolidated operating income: analysis of change, JPY:Bil Material Cost Reduction Fixed Cost Fluctuation Sales/Model Mix -3.7 Steel, Oil Price etc. Fluctuations FX Operating Income for FY11 H1 Operating Income for FY12 H1 19 Copyright(C) 2011 Isuzu Motors Limited All rights reserved

20 FY2012 H1 Consolidated Results - Ordinary income, Net income, Year-on on-year - ( JPY Bil. ) FY12 H1 FY11 H1 Changes Net Sales Operating Income Ordinary Income Net Income Income Ordinary Operating Income Change -3.0 * Equity in Earnings of Affiliates: -1.6 * Financial account balance/ FX gain and loss, Other 2.0 Total -2.6 Loss etc. Extra Profit / Ordinary Income 45.1 * Loss due to Disaster (-0.7) / Loss on disposal of noncurrent assets,etc 0.0 * Tax and minority interests: Net Income Copyright(C) 2011 Isuzu Motors Limited All rights reserved

21 Ⅱ-3. FY2012 Full-year Outlook 21 Copyright(C) 2011 Isuzu Motors Limited All rights reserved

22 FY2012 Full-year Outlook - Year-on on-year Comparison - ( JPY Bil. ) FY12 FY11 Changes Net Sales 1, , Operating Income Ordinary Income Net Income FX: FY12 = 78JPY/US$ FY11 = 85JPY/US$ 22 Copyright(C) 2011 Isuzu Motors Limited All rights reserved

23 FY2011 vs. FY2012 Fluctuations - Consolidated operating income: analysis of change, JPY:Bil Sales/Model Mix 10.0 Material Cost Reduction 7.1 Fixed Cost Fluctuation Steel, Oil Price etc. Fluctuations -6.0 FX -6.3 Impact of Previous year 94.0 (Forecast) Operating Income for FY11 Operating Income for FY12 23 Copyright(C) 2011 Isuzu Motors Limited All rights reserved

24 FY2012 Full-year Outlook - Ordinary income, Net income, Year-on on-year - ( JPY Bil. ) FY12 FY11 Changes Net Sales 1, , Operating Income Ordinary Income Net Income Ordinary Income Operating Income Change 5.8 * Equity in Earnings of Affiliates: -2.1 * Financial account balance/ FX gain and loss, Other: 0.0 Total 3.7 Extra Profit / Loss etc. Ordinary Income 95.0 * Loss on disposal of noncurrent assets,etc: -2.0 * Tax and minority interests: Net Income Copyright(C) 2011 Isuzu Motors Limited All rights reserved

25 President and Representative Director Susumu Hosoi 25 Copyright(C) 2011 Isuzu Motors Limited All rights reserved

26 Mid-term Business Plan (April 2011 March 2014) November 8, Copyright(C) 2011 Isuzu Motors Limited All rights reserved

27 [Appendix] Main Financial Index 27 Copyright(C) 2011 Isuzu Motors Limited All rights reserved

28 CAPEX and Depreciation (Consolidated) - Recent Trend and Forecast - (JPY:Bil) CAPEX 37.0 Depreciation FY07 FY08 FY09 FY10 FY11 FY12 *1 *1 *1 *1 *1 FY09 or later included lease (Forecast) 28 Copyright(C) 2011 Isuzu Motors Limited All rights reserved

29 Interest Bearing Debt / Equity Capital (Consolidated) (JPY:Bil) Equity Capital (DER) DER '08/3 '08/9 '09/3 '09/9 '10/3 '10/9 '11/3 '11/ Interest Bearing Debt Copyright(C) 2011 Isuzu Motors Limited All rights reserved

30 (JPY:Bil) 1, Consolidated Net Sales by Segment - LCV, CV, PT&Compo, Others(KD,, parts) Others PT&Compo '08/9 '09/3 '09/9 '10/3 '10/9 '11/3 '11/9 CV LCV 30 Copyright(C) 2011 Isuzu Motors Limited All rights reserved

31 Consolidated Equity Ratio: Historical Trend (JPY:Bil.) (%) Consolidated Equity Ratio Consolidated Equity Capital '08/9 '09/3 '09/9 '10/3 '10/9 '11/3 '11/ Copyright(C) 2011 Isuzu Motors Limited All rights reserved

32 Inventory Balance - Consolidated - (JPY:Bil.) (Month) 1.8 Month Turnover '08/9 '09/3 '09/9 '10/3 '10/9 '11/3 '11/9 32 Copyright(C) 2011 Isuzu Motors Limited All rights reserved

33 CAPEX and Depreciation (Consolidated) - Recent Trend - (JPY:Bil.) CAPEX 18.0 Depreciation 0.0 '08/9 '09/3 '09/9 '10/3 '10/9 '11/3 '11/9 33 Copyright(C) 2011 Isuzu Motors Limited All rights reserved

34 34 Copyright(C) 2011 Isuzu Motors Limited All rights reserved