Nissan Motor Co., Ltd. · TSE:7201
Nissan Motor — Q3 FY2009 Earnings Presentation
22 slides from Nissan Motor's earnings presentation, Feb 9, 2010
Slide 1: FY 2009 third-quarter financial results
FY 2009 third-quarter financial results February 9, 2010 Nissan Motor Co., Ltd. FY09 third-quarter financial results Key performance indicators – Financial results (billion yen) Net revenue Operating Net income Free cash flow Net debt profit (Auto) (Auto) +147.6% 226.3 783.5 228.9 6,685.8 -19.5% 5,3
Slide 2: Sales performance: Global
FY09 sales performance (9 months) FY09 financial performance (9 months) FY09 outlook 2 FY09 third-quarter financial results Sales performance: Global Retail volume Retail volume (3Q YTD) Change vs. (3Q) Change vs. 2,633 2,505 All FY08 3Q YTD All FY08 3Q regions -4.8% 882 regions +20.6% 423 Japan -3.
Slide 3: FY09 product launches (9 months)
FY09 product launches (9 months) Europe Japan North America PIXO NV200 Vanette G37 Convertible G37 Convertible Fuga 370Z Roadster NV200 Roox Cube Skyline Crossover Fairlady Z Roadster Other markets Teana All-new global launches 370Z Regional launches 4 FY09 third-quarter financial results Sales perf
Slide 4: Sales performance (9 months): North America
Sales performance (9 months): North America US retail volume TIV decreased 14.9%* to 8.2 million units (thousand units) in US -12.7%* 3Q sales in US increased 14.6% to 189.8 k 682 units, due to Maxima, Versa, Sentra and 595 Truck models Canada: Sales down 3.4% to 62.4 k units, market share imp
Slide 5: Sales performance (9 months): China
Sales performance (9 months): China (Jan. to Sep.) Retail volume by brand Sales of Nissan and Infiniti models (thousand units) +35.2% 541 increased 47.2% to 391 k units 400 3Q sales in China increased 71.6% Nissan to 209.2 k units, thanks to Sylphy, Teana, 391 + Infiniti 265 Livina and Tiida L
Slide 6: FY09 financial performance (9 months)
FY09 sales performance (9 months) FY09 financial performance (9 months) FY09 outlook 10 FY09 third-quarter financial results FY09 financial performance (9 months) FY08 FY09 Variance (billion yen) 3Q YTD 3Q YTD Net revenue 6,685.8 5,379.6 -1,306.2 -19.5% Operating profit 92.5 228.9 +136.4 +147.6% Non
Slide 7: Operating profit variance analysis
FY09 financial performance (9 months) (billion yen) Operating profit variance analysis 228.9 +17.6 -13.2 +20.1 +21.7 +59.9 92.5 -168.3 -126.2 +106.5 +103.1 +65.8 -2.0 +51.4 FY08 FOREX Raw Purch. Volume Product Selling Provision R&D Mfg. Warranty Sales Others FY09 3Q YTD material cost / mix enrich. /
Slide 8: Debt structure (Auto business)
FY09 financial performance (9 months) Debt structure (Auto business) Stabilization of auto debt (billion yen) Mar 08 Mar 09 Jun 09 Sep 09 Dec 09 Gross debt (Auto) 394.7 1,113.6 988.1 972.9 879.8 Net debt (Auto) -180.3 387.9 405.3 293.3 207.1 Continued consolidation of auto debt by decreasing sho
Slide 9: Inventory management
Inventory management Inventory volume remains at low level 800 (New vehicles) 700 -26% 600 670 670 630 (thousand units) 500 470 490 400 440 410 300 200 100 0 2008 Jun Dec 2009 Jun Sep Dec Mar Mar Dealer inventory, except some minor countries 16 Consolidated Nissan inventory, except some minor countr
Slide 10: FY09 outlook
FY09 outlook Retail sales forecast and production plan Retail volume Change vs. Production volume FY08 Change vs. All 3,480 FY08 3,411 regions +2.0% All 3,287 regions +6.6% 625 Japan +2.0% 3,084 1,031 Japan -1.9% North 1,045 (thousand units) (thousand units) America -7.8% (810) (US) (-5.4%) North 84
Slide 11: FY09 outlook: Operating profit variance analysis
FY09 outlook Operating profit variance analysis (FY08 actual vs FY09 latest forecast) (billion yen) 290.0 +107.9 +45.0 +50.0 -137.9 +140.0 +30.0 < Main factors > • G&A expenses -185.0 • Manufacturing expenses +220.0 • AFL companies +20.0 FY08 FOREX Volume Net Selling Provision R&D Sales Others FY09*
Slide 12: Business updates
Business updates FY09 4Q Feb World premiere of the new compact crossover JUKE - Europe Global reveal of the all-new full-size SUV Patrol - Middle East Start of full production at the all-new Nissan Shatai Kyushu Plant of the Patrol - Japan Mar Global compact car launch - Thailand 22 FY09 thi
Slide 13: NISSAN LEAF; FY10 outlook (latest assumption)
NISSAN LEAF 24 FY09 third-quarter financial results FY10 outlook (latest assumption) positive negative vs. FY09 Global industry volume Nissan sales volume Foreign exchange Raw material price Normalized costs 25 FY09 third-quarter financial results
Slide 14: Appendix
26 FY09 third-quarter financial results Appendix 27 FY09 third-quarter financial results
Slide 15: Sales financing: Funding sources
Sales financing : Funding sources (As of December 2009) Equity Group Finance (Inter-Company) 11.8% 18.8% ABS Off B/S 7.7% Commercial paper 1.7% S/T Loan 0.9% ABS On B/S L/T Loan 25.6% 22.0% Total funding amount 3,916 billion yen Bonds 11.4% 28 FY09 third-quarter financial results Sales financing: pe
Slide 16: Sales financing: net credit loss ratio
Sales financing: net credit loss ratio FY08 FY09 3Q YTD 3Q YTD Variance Lease: 0.09% Lease: 0.07% Lease: -0.02% NFS Retail: 0.25% Retail: 0.26% Retail: +0.01% Lease: 1.03% Lease: 0.92% Lease: -0.11% NMAC Retail: 1.87% Retail: 1.95% Retail: +0.08% Lease: 0.15% Lease: 0.23% Lease: +0.08% NCF Retail: 0
Slide 17: FY09 financial performance (9 months)
FY09 financial performance (9 months) Operating profit variance analysis (billion yen) 1. Foreign exchange impact -168.3 USD -77.8 (102.9 to 93.6) RUB -30.8 (4.15 to 3.03) CAD -19.1 (95.8 to 84.6) EUR* -15.7 AUD -7.2 (86.7 to 77.9) Others -17.7 2. Volume / mix -126.2 Japan -1.4 US -39.4 EUR -47.1 ME
Slide 18: FY09 third-quarter financial performance
FY09 third-quarter financial performance Operating profit variance analysis (billion yen) 134.1 +14.4 -0.5 +14.1 +17.9 +0.1 -1.0 -15.3 +32.9 -99.2 +128.0 +38.2 -25.6 +30.1 FY08 FOREX Raw Purch. Volume Product Selling Provision R&D Mfg. Warranty Sales Others FY09 material cost / mix enrich. / exp. fo
Slide 19: Detail of non-operating and extraordinary items (9 months)
FY09 financial performance (9 months) Detail of non-operating income/expenses (billion yen) FY08 FY09 Variance 3Q YTD 3Q YTD • Interest income / expenses -9.8 -12.5 -2.7 • FX translation 6.9 -13.0 -19.9 NML -27.0 -5.9 +21.1 NMEX 50.4 -20.1 -70.5 Others -16.5 13.0 +29.5 • Profit under equity methods
Slide 20: Detail of non-operating and extraordinary items (3Q)
FY09 third-quarter financial performance Detail of non-operating income/expenses (billion yen) FY08 FY09 Variance 3Q 3Q • Interest income / expenses -5.8 -4.6 +1.2 • FX translation 3.4 -0.5 -3.9 NML -26.4 5.4 +31.8 NMEX 41.2 -8.9 -50.1 Others -11.4 3.0 +14.4 • Profit under equity methods -3.2 -6.8 -
Slide 21: Free cash flow (Auto business) variance
FY09 financial performance (9 months) Free cash flow (Auto business) variance (billion yen) FY08 FY09 Variance 3Q YTD 3Q YTD Net cash inflow from P&L items 459.5 396.0 -63.5 AP/AR -227.8 146.0 +373.8 Inventory -266.2 -52.5 +213.7 Tax/Others -271.2 -66.5 +204.7 Operating activities -305.7 423.0 +728.
Slide 22: Retail sales: Detail of other markets
FY09 retail sales (9 months) FY09 3Q YTD Detail of other markets FY08 3Q YTD 600 541.4 550 500 450 400 (thousand units) 350 400.4 300 250 200 146.9 150 184.9 122.6 100 158.3 70.4 50 32.1 84.4 43.0 0 Asia & China M.East Africa Latin Oceania America 42 FY09 third-quarter financial results FY09 third-q