Bridgestone Corporation · TSE:5108
Bridgestone — Q3 2023 Earnings Presentation
12 slides from Bridgestone's earnings presentation, Nov 10, 2023
Slide 1: Summary of Financial Results for 3Q 2023 & Fiscal 2023 Guidance
Summary of Financial Results for 3Q 2023 & Fiscal 2023 Guidance November 10, 2023 Member of the Board Global CEO and Representative Executive Officer Shu Ishibashi
Slide 2: Direction for summary of the last year of 21MBP & management issues for 24MBP
Direction for summary of the last year of 21MBP & management issues for 24MBP Financial results for 3Q 2023 2/11
Slide 3: Direction for summary of 21MBP
Direction for summary of 21MBP 2023 – Last year of Mid Term Business Plan (2021-2023) (hereafter 21MBP): • 21MBP - “Rebuild earning power”: Steadily executed reinforcement of premium business strategy and expense & cost structure reformation (incl. manufacturing footprint & business portfolio rest
Slide 4: Financial results for 3Q 2023
Financial results for 3Q 2023 4/11
Slide 5: Summary of the business environment (demand)
Summary of the business environment (demand) ■ “Concerns over the business environment in 2H” mentioned during the 1H 2023 financial results announcement is becoming apparent • Delay and/or reduction in level of demand recovery expected in 2H for TB* Concerns for 2H at the time in N. America & Europ
Slide 6: Business environment (demand) - Passenger car replacement tires
Business environment (demand) - Passenger car replacement tires PS demand ‐REP‐ Demand for PS 18 inch and above ‐REP‐ 2023 demand forecast (N. America & Europe) (vs. same period prior year) 2023 demand forecast (N. America & Europe) (vs. same period prior year) • Sell-out: N. America – Gradual recov
Slide 7: Business environment (demand) - Truck & bus replacement tires
Business environment (demand) - Truck & bus replacement tires TB demand ‐REP‐ 2023 demand forecast (N. America & Europe) (vs. same period prior year) • Sell-out: N. America – Recovery trend from 3Q but remains slow for the year Europe – Prolonged economic downturn became apparent, and will not recov
Slide 8: Focus on premium: Passenger car tires
Focus on premium: Passenger car tires In the challenging business environment, focus on premium tires for passenger cars is supporting Group’s performance • Increase sales volume vs. prior year (Jan. - Sept. results + 2023 FY forecast) for PS HRD* tires (OE+REP) that are relatively resilient *HRD:
Slide 9: Focus on premium: Truck & bus tires (new product + retread)
Focus on premium: Truck & bus tires (new product + retread) Enhance solutions and build foundations for the mobility tech business toward 24MBP N. America - TB business: Leveraging strong business foundations, expect growth toward 24MBP in premium tires & retread despite the challenging business
Slide 10: Focus on premium: Off-the-road tires for mining vehicles
Focus on premium: Off-the-road tires for mining vehicles OR business is supporting Group’s performance in the challenging business environment Build foundations to enhance mining solutions in 24MBP Off-the-road tires for mining vehicles (OR) - Expect increase in sales volume and market share f
Slide 11: Summary of financial results for 3Q 2023
Summary of financial results for 3Q 2023 ■ Financial results for 3Q 2023 ① Revenue 2022 2023 vs. Achieved strategic price management, sales expansion & improvement of 9 months 9 months prior year sales mix of premium passenger car tires, and sales expansion of off-the- (Unit: B JPY) results result
Slide 12: 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