Bridgestone Corporation · TSE:5108

Bridgestone — Q3 2023 Earnings Presentation

16 slides from Bridgestone's earnings presentation, Nov 10, 2023

  1. Slide 1: Financial Results for 3rd Quarter of Fiscal 2023

    Financial Results for 3rd Quarter of Fiscal 2023 Bridgestone Corporation Nov 10, 2023 Global CFO and Executive Director, G Finance Naoki Hishinuma

  2. Slide 2: Agenda

    1. Business and Financial Performance ・・・ 3 for 3rd Quarter of Fiscal 2023 2. Fiscal 2023 Guidance ・・・ 13 2/15

  3. Slide 3: 1. Business and Financial Performance for 3rd Quarter of Fiscal 2023

    1. Business and Financial Performance for 3rd Quarter of Fiscal 2023 3/15

  4. Slide 4: Consolidated Results for 9 months ended Sep 30, 2023

    Consolidated Results for 9 months ended Sep 30, 2023 (Yen in billions) 2022 2023 9 months 9 months vs. PY (%) Results 1H vs. PY (%) 3Q vs. PY (%) Results Revenue 2,976.9 2,101.7 +11 1,096.4 +1 3,198.1 +7 Adjusted 342.2 238.3 +15 124.0 △9 362.3 +6 Operating Profit Margin 11.5% 11.3% + 0.4 pp 11.3% △

  5. Slide 5: Overview of the Performance for 9 months ended September 30, 2023

    Overview of the Performance for 9 months ended September 30, 2023 Business and Financial Highlights  Amid tire demand for REP market is showing prominent decline vs. PY particularly for TB tires in the U.S. and Europe due to global economic slowdown, the Company is not changing the approach to ensu

  6. Slide 6: Business Environment Surrounding Bridgestone Group

    Business Environment Surrounding Bridgestone Group for 9 months ended Sep 30, 2023 Currency  JPY depreciated against both USD and EUR compared with PY Jan-Sep : 1USD = 138 yen, 1EUR = 150yen (3Q: 1USD = 145 yen, 1EUR = 157 yen) Exchange (Reference) Jan-Sep’22 : 1USD = 129 yen, 1EUR = 136 yen  Raw

  7. Slide 7: Tire Sales Units Growth (vs. PY)

    Tire Sales Units Growth for 9 months ended Sep 30, 2023 (vs. PY) PSR/LTR TBR ORR vs. PY vs. PY vs. PY Global 93% Global 86% Ultra-Large 103% OE OE (REP) Global 103% Global 95% Large 106% OE 109% / / Japan 116% Japan 108% China, Asia-Pacific 88% China, Asia-Pacific 101% REP 105% N. America 106% N. Am

  8. Slide 8: Analysis of Adjusted Operating Profit (vs. PY)

    Analysis of Adjusted Operating Profit for 9 months ended Sep 30, 2023 (vs. PY) (Yen in billions) (*1) MIX Volume (*2) Price Conversion +13.0 (58.0) LA Currency +193.0 Costs (*3) Currency Depreciation (73.0) Operating (35.0) Others (*4) Expenses +54.0 Raw (44.9) 342.2 Materials +3.0 362.3 (32.0) *2 E

  9. Slide 9: Consolidated Financial Results by Segment

    Consolidated Financial Results by Segment for 9 months ended Sep 30, 2023 (Yen in billions) 2022 2023 vs. PY (%) 9 months Results 9 months Results Revenue 820.4 894.9 +9 Japan* Adjusted OP 91.5 141.0 +54 Margin 11.1% 15.8% + 4.6pp Revenue 338.0 346.2 +2 China, Asia-Pacific Adjusted OP 27.2 29.2 +7 M

  10. Slide 10: Consolidated Financial Results by Product

    Consolidated Financial Results by Product for 9 months ended Sep 30, 2023 (Yen in billions) 2022 2023 (*1) vs. PY (%) 9 months Results 9 months Results Revenue 1,576.6 1,745.9 +11 Adjusted OP 181.4 187.9 +4 PS/LT (incl. retail & credit card business) Margin 11.5% 10.8% (0.7) pp Revenue 779.9 766.1 (

  11. Slide 11: Consolidated Financial Results by Business

    Consolidated Financial Results by Business for 9 months ended Sep 30, 2023 (Diversified Products Business – Continuing Operations) (Yen in billions) Sports & Cycle Biz Revenue 46.1 Adjusted OP 1.3 Margin 2.7% Diversified Products Business Chemical & Industrial Revenue 222.5 Products Biz Adjusted OP

  12. Slide 12: B/S and C/F Highlights for 3rd Quarter of Fiscal 2023

    B/S and C/F Highlights for 3rd Quarter of Fiscal 2023 (Yen in billions) 2022 Results 2023 3Q Results (as of Dec. 31, 2022) (as of Sep. 30, 2023) vs. Dec. 31, 2022 Total Assets* 4,962.2 5,510.8 +548.6 Total Equity* 3,012.5 3,447.2 +434.7 Equity Ratio (%)* 59.8% 61.6% +1.8pp Interest-Bearing Debt 〈Net

  13. Slide 13: 2. Fiscal 2023 Guidance

    2. Fiscal 2023 Guidance 13/15

  14. Slide 14: Fiscal 2023 Guidance: Forecast of Business Environment

    Fiscal 2023 Guidance Forecast of Business Environment  4Q Assumptions: 1USD = 137 yen, 1EUR = 150 yen Currency Exchange  FY Assumptions: 1USD = 138 yen, 1EUR = 150 yen  The purchase costs of raw materials is expected to increase vs. PY in total, due to spike of energy, labor and other costs of ra

  15. Slide 15: Consolidated Financial Forecast for Fiscal 2023

    Fiscal 2023 Guidance Consolidated Financial Forecast for Fiscal 2023  There is no change in the consolidated financial forecast for fiscal 2023 and dividend from February guidance.  Changes from August guidance: By strong expense management and cost improvement, the Company plans to minimize negat

  16. Slide 16: Forward-looking statements disclaimer

    Statements made in this presentation with respect to Bridgestone's current plans, estimates, strategies and beliefs and other statements that are not historical facts are forward-looking statements about the future performance of Bridgestone. Forward-looking statements include, but are not limited t

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