05 12-14 mitsubishi motors-results_q4_2014-2

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  • 1. 0 FY2013 Third Quarter Financial Results Mitsubishi Motors Corporation February 5, 2014 Prug-in Hybrid EV
  • 2. 1 FY12 1-3Q (Apr-Dec ’12) Actual FY13 1-3Q (Apr-Dec ’13) Actual Change Net Sales 12,826 15,187 +2,361 (+18%) Operating Income 409 963 +554 (+135%) Ordinary Income 524 1,164 +640 (+122%) Net Income 173 884 +711 (+410%) Sales Volume (Retail) 724 776 +52 (+7%) Sales Volume (Wholesale) 804 915 +111 (+14%) (OEM and joint development models, etc.) (62) (147) (+85) (+138%) FY2013 1-3Q Results Summary (vs. FY12 1-3Q) Increased Year-on-year Sales Volume, Net Sales, and Profit Note: Sales volume of FY2013 3Q refers to preliminary results. (100 million yen/000 units)
  • 3. 2 40 52 92 34 63 97 62 41 21 24 46 70 135 67 11 57 67 15 67 149 435 51 75 47 211 51 76 184 60 79 61 460 724 776 + 5 + 14+ 8 + 25 (+ 5%) (+ 10%)(+ 12%) (+ 7%)(+ 6%) + 52 Japan North America Europe Asia & others Total FY2013 1-3Q Regional Sales Volume (Retail, vs. FY12 1-3Q) FY13 1-3Q vs. FY12 1-3Q (000 units) Registered Vehicles Minicars U.S. Canada & Mexico Western Europe Central Europe ASEAN Australia & NZ Middle East & Africa Russia & others Latin America North Asia Note: Sales volume of FY2013 3Q refers to preliminary results. FY12 3Q Actual FY13 3Q Actual FY12 3Q Actual FY13 3Q Actual FY12 3Q Actual FY13 3Q Actual FY12 3Q Actual FY13 3Q Actual FY12 3Q Actual FY13 3Q Actual
  • 4. By region: Japan + 147 North America + 10 Europe - 2 Asia & Others - 267 3 409 - 260 + 550 + 65 + 311 Forex booking rate, in yen USD EUR AUD THB Main items: -R&D expenses - 29 -Costs on quality measures in market and others +94 963 + 554 FY12 FY13 80 99 101 131 82 94 2.57 3.21 - 112 Analysis of Increase/Decrease of Operating Income Results FY12 1-3Q Actual FY13 1-3Q Actual (100 million yen) Vol/Mix Sales Expenses Forex Combined impact of raw material price / cost reduction Others
  • 5. 4 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 Ordinary and Net Income (vs. FY12 1-3Q) (100 million yen)
  • 6. 5 Mar. 2013 Dec. 2013 Change Total Assets 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 Total Liabilities 11,016 10,582 - 434 Accounts payable 3,138 3,382 + 244 Interest-bearing debt 3,644 2,841 - 803 Net Assets 3,512 4,468 + 956 (100 million yen) Balance Sheet (vs. end of FY2012)
  • 7. 587 987 181 134 85 6653 100 146 202 617 85 1,065 61 57 78 100 28 34 88 71 73 90 22 90 15 95 64 286 101 76 255 93 + 12 + 21+ 15 + 30 (+ 9%) (+ 11%)(+ 18%) (+ 8%)(+ 5%) + 78 71 FY2013 Regional Sales Volume Forecast (Retail, vs. FY2012 Actual) Japan North America Europe Asia & others Total Feb 5 FY13 Forecast vs. FY12 Actual FY12 Actual Feb 5 FY13 Forecast FY12 Actual Feb 5 FY13 Forecast FY12 Actual Feb 5 FY13 Forecast FY12 Actual Feb 5 FY13 Forecast FY12 Actual Feb 5 FY13 Forecast Registered Vehicles Minicars U.S. Canada & Mexico Western Europe Central Europe ASEAN Australia & NZ Middle East & Africa Russia & others Latin America North Asia (000 units) 6
  • 8. FY12 Actual FY13 Feb 5 Forecast Change Net Sales 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 (+8%) Sales Volume (Wholesale) 1,120 1,276 + 156 (+14%) (OEM and joint development models, etc.) (79) (211) (+ 132) (+167%) Aim to Increase Net Sales and Profit through Sales Volume Increases and Progression of Cost Reductions including Materials Costs FY2013 Forecast Summary (vs. FY2012 Actual) (100 million yen/000 units) 7
  • 9. Summary Increased Year-on-year Sales Volume, Net Sales, and Profit  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  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 1-3Q Results (9-month cumulative)  FY2013 Full-year Forecasts Aim to Increase Net Sales and Profit through Sales Volume Increases and Progression of Cost Reductions including Materials Costs 8
  • 10. 9 Appendix eK Space (To be launched at Feb. 2014) Standard Model Custom Model
  • 11. 10 46 44 140 435 724 135 30 92 33 23 20 62 142 239 《前年同期実績対比増減》 1Q 2Q 1Q 2Q 239 23 22 38 28 70 97 47 44 149 151 460 146 249 250 776 3Q 3Q 45 29 19 153 246 25 31 58 163 277 + 5 + 14+ 8 + 25 (+ 5%) (+ 10%)(+ 12%) (+ 7%)(+ 6%) + 52 FY2013 1-3Q Regional Sales Volume (Retail, vs. FY12 1-3Q) Japan North America Europe Asia & others Total (000 units) Note: Sales volume of FY2013 3Q refers to preliminary results. FY12 3Q Actual FY13 3Q Actual FY12 3Q Actual FY13 3Q Actual FY12 3Q Actual FY13 3Q Actual FY12 3Q Actual FY13 3Q Actual FY12 3Q Actual FY13 3Q Actual FY13 1-3Q vs. FY12 1-3Q
  • 12. 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 Sales Volume (Retail) 249 250 277 776 Sales Volume (Wholesale) 250 318 347 915 (OEM and joint development models, etc.) (31) (56) (60) (147) 11 FY2013 1-3Q Results Summary (by quarter) (100 million yen/000 units) Note: Sales volume of FY2013 3Q refers to preliminary results.
  • 13. FY12 1-3Q Actual FY13 1-3Q Actual Change Net Sales 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 Operating Income 409 963 + 554 Japan - 215 - 21 + 194 North America - 178 - 22 + 156 Europe - 125 304 + 429 Asia & Others 927 702 - 225 12 FY2013 1-3Q Regional Results (vs. FY12 1-3Q) (100 million yen)
  • 14. + 526 1,200+580+580 - 104- 104 - 320- 320 + 40+ 40 +330+330 674 R&D expenses and others FY12 Actual Feb 5 FY13 Forecast Vol/Mix Sales Expenses Forex Combined impact of raw material price / cost reduction Others Forex booking rate, in yen USD EUR AUD THB FY12 FY13 82 99 105 131 85 93 2.70 3.20 By region: Japan + 190 North America + 30 Europe + 10 Asia & Others - 190 (100 million yen) Analysis of Increase/Decrease of FY2013 Operating Income Forecast (vs. FY12 Actual) 13
  • 15. + 200 1,200 +30+30 - 30- 30- 30- 30 +50+50 1,000 +180+180 Main items; ・Costs of transportation + 10 ・R&D expenses and others + 20 Feb 5 FY13 Forecast Oct 29 FY13 Forecast Analysis of Increase/Decrease of FY2013 Operating Income Forecast (vs. Oct 29 FY13 Forecast) (100 million yen) Others Vol/Mix Sales Expenses Forex Combined impact of raw material price / cost reduction By region: Japan ± 0 North America - 10 Europe + 20 Asia & Others - 40 Forex booking rate, in yen USD EUR AUD THB Oct.29 Feb.5 97 99 126 131 90 93 3.21 3.20 14
  • 16. FY12 Actual FY13 Oct 29 Forecast FY13 Feb 5 Forecast Net Sales 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 Operating Income 674 1,000 1,200 Japan - 276 - 40 - 10 North America - 200 - 40 - 40 Europe - 70 240 370 Asia & Others 1,220 840 880 FY2013 Regional Forecast (vs. FY2012 Actual and Oct. 29 FY2013 Forecast) (100 million yen) 15
  • 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.