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11 03-13 mitsubishi results-q2-2
 

11 03-13 mitsubishi results-q2-2

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    11 03-13 mitsubishi results-q2-2 11 03-13 mitsubishi results-q2-2 Presentation Transcript

    • FY2013 First Half Financial Results eK Space eK Space Custom (To be launched at the beginning of 2014) (To be launched at the beginning of 2014) Mitsubishi Motors Corporation October 29, 2013
    • 1 FY2013 1H Results Summary (vs. FY2012 1H Actual) Increased Year-on-year Sales Volume, Net Sales, and Profit (100 million yen/000 units) Change Apr 25 FY13 1H Forecast 9,290 + 690 10,000 308 508 + 200 360 Ordinary Income 316 610 + 294 340 Net Income 301 467 + 166 190 Sales Volume (Retail) 478 499 + 21 544 Sales Volume (Wholesale) 535 568 + 33 597 (45) (87) (+ 42) (85) FY12 1H FY13 1H Actual Actual 8,600 Operating Income Net Sales (OEM and joint development models, etc.) Note: Sales volume of FY2013 1H refers to preliminary results.
    • 2 FY2013 1H Regional Sales Volume (vs. FY2012 1H Actual) Japan North America Europe Asia & others Total FY13 1H Actual vs. FY12 1H Actual +3 +2 +1 +15 +21 (+5%) (+3%) (+1%) (+6%) (+4%) (000 units, Retail base) 544 331 FY13 1H Forecast 282 Middle East & Africa 32 297 63 63 Minicars 37 Registered Vehicles 90 44 42 Central Europe 7 39 40 51 Australia & NZ 32 42 ASEAN 130 118 North Asia 39 45 9 Western Europe 49 91 Russia & others 499 41 Latin America 103 478 47 66 43 14 45 16 29 45 Canada & Mexico 26 21 U.S. FY12 1H FY13 1H FY12 1H FY13 1H FY12 1H FY13 1H FY12 1H FY13 1H FY12 1H FY13 1H (‘12/4-9) (‘13/4-9) (‘12/4-9) (‘13/4-9) (‘12/4-9) (‘13/4-9) (‘12/4-9) (‘13/4-9) (‘12/4-9) (‘13/4-9) Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual 29 Note: Sales volume of FY2013 1H refers to preliminary results.
    • 3 Analysis of Operating Income (vs. FY2012 1H Actual) (100 million yen) FY12 1H + 200 (‘12/4-9) Actual FY13 1H (‘13/4-9) Forex booking rate, in yen FY12 79 98 EUR 101 129 +6 AUD 81 94 Europe - 50 THB 2.54 Actual FY13 USD - 14 3.23 By region: Japan North America + 78 Others + 190 Others - 136 Combined impact of raw material price / cost reduction - 102 Vol/Mix 308 + 307 - 181 Sales Expenses Forex 508
    • 4 Ordinary and Net Income (vs. FY2012 1H Actual) (100 million yen) FY12 1H (‘12/4-9) Non-operating Income Ordinary Income Extraordinary Income & Tax Net Income (‘13/4-9) Actual Operating Income FY13 1H Actual 308 508 + 200 +8 + 102 + 94 316 610 + 294 - 15 - 143 - 128 301 467 + 166 Change
    • 5 Balance Sheet (vs. end of FY2012) (100 million yen) Mar. 2013 Sep. 2013 Change 14,528 13,981 - 547 Cash & cash deposits 4,095 3,297 - 798 Accounts receivable 1,496 1,379 - 117 Inventory 2,023 2,408 + 385 11,016 10,021 - 995 Accounts payable 3,138 3,056 - 82 Interest-bearing debt 3,644 2,816 - 828 3,512 3,960 + 448 Total Assets Total Liabilities Net Assets
    • 6 FY2013 Regional Sales Volume Forecast (vs. FY2012 Actual) Japan North America Europe Asia & others Total Oct 29 FY13 Forecast vs. FY12 Actual + 14 + 22 + 25 + 63 + 124 (+ 11%) (+ 26%) (+ 14%) (+ 10%) (+ 13%) (000 units, Retail base) 1,111 650 587 88 Middle East & Africa 181 134 148 Minicars 73 94 Registered Vehicles 61 54 FY12 Actual Oct 29 FY13 Forecast Canada & Mexico U.S. 85 28 57 FY12 Actual 107 Russia & others 37 Central Europe 15 70 Western Europe 78 Oct 29 FY13 Forecast 88 FY12 Actual 89 71 Latin America 206 987 95 Australia & NZ 64 ASEAN 286 274 North Asia 71 106 105 77 23 94 Oct 29 FY13 Forecast FY12 Actual Oct 29 FY13 Forecast FY12 Actual Oct 29 FY13 Forecast
    • 7 FY2013 Results 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 Oct 29 Forecast 【Referense】 Apr 25 Forecast 18,151 21,300 22,700 Operating Income 674 1,000 1,000 Ordinary Income 939 1,000 900 Net Income 380 700 500 Sales Volume (Retail) 987 1,111 1,169 Sales Volume (Wholesale) 1,120 1,306 1,363 (OEM and joint development models, etc.) (79) (209) (207) Net Sales Assumed Forex Rate USD: EUR: AUD: THB: 82 105 85 2.70 1H 98 129 94 3.23 2H FY13 95 97 125 126 85 90 3.20 3.21 Breakdown of change (YoY : +326) ・Vol/Mix + 70 ・Sales Expenses - 290 ・Forex + 400 ・Combined impact of raw + 280 material price/ Cost reduction ・R&D expenses and others - 134
    • 8 Summary  FY2013 1H Consolidated Results Increased Year-on-year Sales Volume, Net Sales, and Profit  Retail Volume 499,000 units, 4% up YoY  Wholesale Volume 568,000 units, 6% up YoY  Net Sales 929.0 billion yen, 8% up YoY  Operating Income 50.8 billion yen, 65% up YoY Increased income from favorable exchange rates and increased reduction in material costs which offset negative factors such as worsening in sales volume/model mix and increase in selling costs.  Ordinary Income 61.0 billion yen, 93% up YoY  Net Income 46.7 billion yen, 55% 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 1,111,000 units, 13% up YoY  Wholesale Volume 1,306,000 units, 17% up YoY  Net Sales 2,130.0 billion yen, 17% up YoY  Operating Income 100.0 billion yen, 48% up YoY  Ordinary Income 100.0 billion yen, 6% up YoY  Net Income 70.0 billion yen, 84% up YoY
    • 9 Attachments Outlander PHEV
    • 10 FY2013 1H Regional Sales Volume (vs. FY2012 1H Actual) Japan North America Europe Asia & others Total FY13 1H Actual vs. FY12 1H Actual +3 +2 +1 +15 +21 (+5%) (+3%) (+1%) (+6%) (+4%) (000 units, Retail base) 282 2Q 1Q 33 30 38 28 43 20 23 45 22 23 250 2Q 1Q 239 140 90 66 499 146 151 239 249 142 63 297 478 91 44 44 46 47 FY12 1H FY13 1H FY12 1H FY13 1H FY12 1H FY13 1H FY12 1H FY13 1H FY12 1H FY13 1H (‘12/4-9) (‘13/4-9) (‘12/4-9) (‘13/4-9) (‘12/4-9) (‘13/4-9) (‘12/4-9) (‘13/4-9) (‘12/4-9) (‘13/4-9) Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual Note: Sales volume of FY2013 1H refers to preliminary results.
    • 11 FY2013 1H Regional Results (vs. FY2012 1H Actual) (100 million yen) FY12 1H FY13 1H (‘12/4-9) (‘13/4-9) Actual Actual 8,600 9,290 + 690 1,549 2,026 + 477 798 1,080 + 282 Europe 2,109 1,950 - 159 Asia & Others 4,144 4,234 + 90 308 508 + 200 - 84 - 13 + 71 - 131 - 32 + 99 Europe - 89 98 + 187 Asia & Others 612 455 - 157 Net Sales Japan North America Operating Income Japan North America Change
    • 12 FY2013 1H Results Summary (by quarter) (100 million yen/000 units) FY13 1Q (‘13/4-6) FY13 2Q (‘13/7-9) FY13 1H (‘13/4-9) 4,094 5,196 9,290 Operating Income 160 348 508 Ordinary Income 223 387 610 Net Income 164 303 467 Sales Volume (Retail) 249 250 499 Sales Volume (Wholesale) 250 318 568 (OEM and joint development models, etc.) (31) (56) (87) Net Sales Note: Sales volume of FY2013 1H refers to preliminary results.
    • Analysis of Operating Income (Oct 29 FY13 Forecast vs. Apr 25 FY13 Forecast) 13 (100 million yen) Apr 25 FY13 Forecast Oct 29 FY13 Forecast ±0 +40 - 210 Vol/Mix 1,000 - 30 Sales Expenses By region: + 80 + 120 Forex Others Combined impact of raw material price / cost reduction Forex booking rate, in yen Apr 25 Oct 29 Japan + 20 North America ±0 USD Europe - 20 EUR Others - 210 AUD THB 95 125 97 3.50 97 126 90 3.21 1,000
    • FY2013 Regional Forecast 14 (vs. FY2012 Actual and Apr 25 FY2013 Forecast) (100 million yen) FY12 FY13 FY13 Actual Apr 25 Forecast Oct 29 Forecast 18,151 22,700 21,300 Japan 3,295 4,700 4,700 North America 1,577 2,100 2,400 Europe 4,007 5,100 4,700 Asia & Others 9,272 10,800 9,500 674 1,000 1,000 Japan - 276 - 150 - 40 North America - 200 - 40 - 40 - 70 200 240 1,220 990 840 Net Sales Operating Income Europe Asia & Others
    • 15 Outlander PHEV Restart of production in mid-August after quality ensured Launching schedule FY12 FY13 Sales commenced in Jan. Japan ★ Production restarted in Aug. Sales commenced sequentially from Oct. Europe Australia Shipment to Europe (Gamagori Port) Completed Asia Cross Country Rally 2013 Reliability of the PHEV system was proven in the cross-country rally where excessive impacts were applied to the powertrain and drivetrain. Asia Cross Country Rally 2013
    • Initiatives with EV business 4 Automakers (Toyota, Nissan, Honda, and MMC)agreed on joint promotion of the EV charging infrastructure (Jul 2013) Jointly promote installation of EV charging stations and to establish charging network services convenient for users 70 i-MiEV Electric Vehicles Delivered to the Russian Presidential Administration (Sep 2013) Used as the official transport vehicles at the G20 Leaders' Summit (meeting of ministers on finance and economies) Participation in the Lyon Confluence Smart Community Demonstration Project in France (Oct 2013) Resolve issues from urban redevelopment (traffic congestion, lack of parking space, vehicle emissions, etc.) and introduce / demonstrate the renewable energy management systems 16
    • Expansion of Local Production in Emerging Markets Attrage in Thailand (launched in June 2013) Pajero Sport in Russia (launched in July 2013) ASX in Brazil (launched in July 2013) Pajero Sport in China (launched in September 2013) 17
    • 18 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.