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02 15-14 mitsubishi motors-results_q3_2013-2

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  • 1. 0 FY2013 Third Quarter Financial Results Prug-in Hybrid EV Mitsubishi Motors Corporation February 5, 2014
  • 2. 1 FY2013 1-3Q Results Summary (vs. FY12 1-3Q) Increased Year-on-year Sales Volume, Net Sales, and Profit (100 million yen/000 units) FY12 1-3Q (Apr-Dec ’12) Actual FY13 1-3Q (Apr-Dec ’13) Actual Change 12,826 15,187 +2,361 Operating Income 409 963 +554 (+135%) Ordinary Income 524 1,164 +640 (+122%) Net Income 173 884 +711 (+410%) Sales Volume (Retail) 724 804 776 915 +52 +111 (62) (147) (+85) Net Sales Sales Volume (Wholesale) (OEM and joint development models, etc.) Note: Sales volume of FY2013 3Q refers to preliminary results. (+18%) (+7%) (+14%) (+138%)
  • 3. 2 FY2013 1-3Q Regional Sales Volume (Retail, vs. FY12 1-3Q) Japan North America Europe Asia & others Total +5 +8 + 14 + 25 + 52 (+ 5%) (+ 12%) (+ 10%) (+ 6%) (+ 7%) FY13 1-3Q vs. FY12 1-3Q (000 units) 435 460 52 Minicars Registered Vehicles 40 63 34 FY12 3Q FY13 3Q Actual Actual Canada & Mexico U.S. 62 21 41 70 24 46 FY12 3Q FY13 3Q Actual Actual Note: Sales volume of FY2013 3Q refers to preliminary results. 75 Australia & NZ 92 51 Latin America 97 724 61 Middle East & Africa 135 776 47 60 ASEAN 211 184 North Asia 51 76 79 149 67 Russia & others 67 Central Europe 11 Western Europe 57 67 FY12 3Q Actual FY13 3Q Actual 15 FY12 3Q FY13 3Q Actual Actual FY12 3Q FY13 3Q Actual Actual
  • 4. Analysis of Increase/Decrease of Operating Income Results 3 (100 million yen) FY12 1-3Q Actual FY13 1-3Q Actual + 554 Forex booking rate, in yen FY12 FY13 USD 80 99 EUR 101 131 + 147 AUD 82 94 + 10 THB 2.57 3.21 By region: Japan North America Europe Asia & Others + 65 Others + 311 -2 Combined impact of raw material price / cost reduction - 267 - 112 409 + 550 Vol/Mix - 260 Sales Expenses Forex Main items: -R&D expenses - 29 -Costs on quality measures in market and others +94 963
  • 5. 4 Ordinary and Net Income (vs. FY12 1-3Q) (100 million yen) FY12 1-3Q Actual FY13 1-3Q Actual Change Operating Income 409 963 + 554 Non-operating Income + 115 + 201 + 86 Ordinary Income 524 1,164 + 640 Extraordinary Income & Tax - 351 - 280 + 71 Net Income 173 884 + 711
  • 6. 5 Balance Sheet (vs. end of FY2012) (100 million yen) Mar. 2013 Dec. 2013 Change 14,528 15,050 + 522 Cash & cash deposits 4,095 4,442 + 347 Accounts receivable 1,496 1,232 - 264 Inventory 2,023 2,189 + 166 11,016 10,582 - 434 Accounts payable 3,138 3,382 + 244 Interest-bearing debt 3,644 2,841 - 803 3,512 4,468 + 956 Total Assets Total Liabilities Net Assets
  • 7. 6 FY2013 Regional Sales Volume Forecast (Retail, vs. FY2012 Actual) Japan North America Europe Asia & others Total Feb 5 FY13 Forecast vs. FY12 Actual + 12 + 15 + 21 + 30 + 78 (+ 9%) (+ 18%) (+ 11%) (+ 5%) (+ 8%) (000 units) 1,065 587 617 Middle East & Africa Latin America 181 134 146 Minicars 73 Registered Vehicles 61 53 FY12 Actual Feb 5 FY13 Forecast 93 Canada & Mexico U.S. 85 28 57 FY12 Actual 100 34 66 Feb 5 FY13 Forecast Russia & others 88 Central Europe 15 Western Europe 78 FY12 Actual 202 90 71 95 101 Australia & NZ 64 76 ASEAN 286 255 North Asia 71 987 100 85 22 90 Feb 5 FY13 Forecast FY12 Actual Feb 5 FY13 Forecast FY12 Actual Feb 5 FY13 Forecast
  • 8. 7 FY2013 Forecast Summary (vs. FY2012 Actual) Aim to Increase Net Sales and Profit through Sales Volume Increases and Progression of Cost Reductions including Materials Costs (100 million yen/000 units) FY12 FY13 Actual Feb 5 Forecast 18,151 21,100 + 2,949 (+16%) Operating Income 674 1,200 + 526 (+78%) Ordinary Income 939 1,200 + 261 (+28%) Net Income 380 1,000 + 620 (+163%) Sales Volume (Retail) 987 1,065 + 78 Sales Volume (Wholesale) 1,120 1,276 + 156 (OEM and joint development models, etc.) (79) (211) Net Sales Change (+8%) (+14%) (+ 132) (+167%)
  • 9. 8 Summary  FY2013 1-3Q Results (9-month cumulative) Increased Year-on-year Sales Volume, Net Sales, and Profit  Retail Volume 776,000 units, 7% up YoY  Wholesale Volume 915,000 units, 14% up YoY  Net Sales 1,518.7 billion yen, 18% up YoY  Operating Income 96.3 billion yen, 135% up YoY Increased income from favorable forex and combined impact of raw material price/ cost reduction which offset negative factors such as worsening in sales volume/model mix and increase in selling costs.  Ordinary Income 116.4 billion yen, 122% up YoY  Net Income 88.4 billion yen, 410% up YoY  FY2013 Full-year Forecasts Aim to Increase Net Sales and Profit through Sales Volume Increases and Progression of Cost Reductions including Materials Costs  Retail Volume 1,065,000 units, 8% up YoY  Wholesale Volume 1,276,000 units, 14% up YoY  Net Sales 2,110.0 billion yen, 16% up YoY  Operating Income 120.0 billion yen, 78% up YoY  Ordinary Income 120.0 billion yen, 28% up YoY  Net Income 100.0 billion yen, 163% up YoY
  • 10. 9 Appendix Standard Model Custom Model eK Space (To be launched at Feb. 2014)
  • 11. 10 FY2013 1-3Q Regional Sales Volume (Retail, vs. FY12 1-3Q) Japan North America Europe Asia & others Total FY13 1-3Q vs. 《前年同期実績対比増減》 FY12 1-3Q +5 +8 + 14 + 25 + 52 (+ 5%) (+ 12%) (+ 10%) (+ 6%) (+ 7%) (000 units) 460 724 163 246 142 140 435 153 135 3Q 2Q 1Q 92 29 33 30 45 97 31 38 28 FY12 3Q FY13 3Q Actual Actual 149 62 19 20 23 70 25 22 23 FY12 3Q FY13 3Q Actual Actual Note: Sales volume of FY2013 3Q refers to preliminary results. 44 46 277 3Q 146 239 250 2Q 151 239 249 1Q 58 44 776 47 FY12 3Q FY13 3Q Actual Actual FY12 3Q FY13 3Q Actual Actual FY12 3Q FY13 3Q Actual Actual
  • 12. 11 FY2013 1-3Q Results Summary (by quarter) (100 million yen/000 units) FY13 1Q (Apr-Jun) FY13 2Q (Jul-Sep) FY13 3Q (Oct-Dec) FY13 1-3Q (Apr-Dec) Net Sales 4,094 5,196 5,897 15,187 Operating Income 160 348 455 963 Ordinary Income 223 387 554 1,164 Net Income 164 303 417 884 249 250 277 776 250 318 347 915 (31) (56) (60) (147) Sales Volume (Retail) Sales Volume (Wholesale) (OEM and joint development models, etc.) Note: Sales volume of FY2013 3Q refers to preliminary results.
  • 13. 12 FY2013 1-3Q Regional Results (vs. FY12 1-3Q) (100 million yen) FY12 1-3Q FY13 1-3Q Actual Actual Change 12,826 15,187 + 2,361 Japan 2,257 3,244 + 987 North America 1,124 1,764 + 640 Europe 2,982 3,415 + 433 Asia & Others 6,463 6,764 + 301 409 963 + 554 Japan - 215 - 21 + 194 North America - 178 - 22 + 156 Europe - 125 304 + 429 927 702 - 225 Net Sales Operating Income Asia & Others
  • 14. Analysis of Increase/Decrease of FY2013 Operating Income Forecast 13 (vs. FY12 Actual) (100 million yen) FY12 Actual Feb 5 FY13 Forecast + 526 R&D expenses and others By region: Japan + 190 North America Europe + 10 Asia & Others - 104 + 30 - 190 + 40 Vol/Mix 674 Others + 330 + 580 - 320 Combined impact of raw material price / cost reduction 1,200 Forex booking rate, in yen FY12 Sales Expenses Forex FY13 USD 82 99 EUR 105 131 AUD 85 93 THB 2.70 3.20
  • 15. Analysis of Increase/Decrease of FY2013 Operating Income Forecast 14 (vs. Oct 29 FY13 Forecast) (100 million yen) Oct 29 FY13 Forecast Feb 5 FY13 Forecast + 200 Main items; ・Costs of transportation + 10 ・R&D expenses and others + 20 + 50 +30 Others - 30 Vol/Mix - 30 + 180 Sales Expenses Forex Combined impact of raw material price / cost reduction 1,200 By region: 1,000 Japan ±0 North America - 10 Europe Asia & Others + 20 - 40 Forex booking rate, in yen Oct.29 Feb.5 USD 97 99 EUR 126 131 AUD 90 93 THB 3.21 3.20
  • 16. FY2013 Regional Forecast 15 (vs. FY2012 Actual and Oct. 29 FY2013 Forecast) (100 million yen) FY12 FY13 FY13 Actual Oct 29 Forecast Feb 5 Forecast 18,151 21,300 21,100 Japan 3,295 4,700 4,700 North America 1,577 2,400 2,300 Europe 4,007 4,700 4,900 Asia & Others 9,272 9,500 9,200 674 1,000 1,200 Japan - 276 - 40 - 10 North America - 200 - 40 - 40 - 70 240 370 1,220 840 880 Net Sales Operating Income Europe Asia & Others
  • 17. 16 All statements herein, other than historical facts, contain forward-looking statements and are based on MMC’s current forecasts, expectations, targets, plans, and evaluations. Any forecasted value is calculated or obtained based on certain assumptions. Forward-looking statements involve inherent risks and uncertainties. A number of significant factors could therefore cause actual results to differ from those contained in any forward-looking statement. Significant risk factors include: •Feasibility of each target and initiative as laid out in this presentation; •Fluctuations in interest rates, exchange rates and oil prices; •Changes in laws, regulations and government policies; and •Regional and/or global socioeconomic changes. Potential risks and uncertainties are not limited to the above and MMC is not under any obligation to update the information in this presentation to reflect any developments or events in the future. If you are interested in investing in Mitsubishi Motors, you are requested to make a final investment decision at your own risk, taking the foregoing into consideration. Please note that neither Mitsubishi Motors nor any third party providing information shall be responsible for any damage you may suffer due to investment in Mitsubishi Motors based on the information shown in this presentation.

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