2014 annual results announcement announcement. 免责声明...
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2014 PRC Auto Industry Overview 2014 DFG Business and Finance Performance DFG & PRC Auto Industry OutlookTRANSCRIPT
2014 Annual Results 2014 Annual Results AnnouncementAnnouncement
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22014014 PRC Auto Industry HighlightsPRC Auto Industry Highlights
PV Sales by Country Market Share of Top 10 further Increased
Continued Growth of PV; Sluggish Performance of CV;Strong Growth of NEV;
83.7% 83.9% 84.5%83.4%
88.1%86.3% 86.6% 87.3%
88.4%89.70%
80%
82%
84%
86%
88%
90%
92%
0
500
1000
1500
2000
2500
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014TOP 10 manufacturers sales volume(`0000)
Total industry sales volume(`0000)
TOP 10 market share
20142014 DFG Business PerformanceDFG Business Performance
MPV,SUV Continued Strong Growth;CV Performance Maintained Sluggish
Own Brand Business Maintained Fair Contribution to Group Sales
Sales Volume Continued to Grow
With Growth Rate Slowing Down
119
16 28 70
31 8
-0.5%-13.5%
23.0%28.0%
-4.1%0.0%
-20.0%-10.0%0.0%10.0%20.0%30.0%40.0%
0
50
100
150
DFL DFCV DF Liuqi DPCA DF Honda DFPV2014 sales volume('0000) YoY growth rate(%)
DPCA, DFLiuQi Achieved Faster Growth
DFG & PSA Signed Strategic Alliance Agreement in Mar. 2014; Two parties deepened synergy in exploring global market, R&D, production,etc
AB Volvo Acquired 45% of DFCV in July, 2014;
Cooperation between DFG & Volvo progressed smoothly
Business OverviewBusiness Overview (1)– Global (1)– Global StrategyStrategy
Other key projects such as DF Renault, DF Getrag were also actively promoted
DFG Acquired 14.1% equity stake in PSA
Recent PSA Stock Performance
Business Overview (2)– More New Models, Business Overview (2)– More New Models, More Balanced Product PipelineMore Balanced Product Pipeline
15 New PV Models in 2014 Annual sales of 7 models exceeded 100k in 2014
SUV Sedan MPV&NEV
C3-XR
2008
New X-Trail
X-RV
AX7
New 408
A30
New Spirior
Q50L
S50
VenuciaR30
Venucia Chenfeng
E30
New CM7
New Joyer
Business Overview (3) – Accelerated Development ofBusiness Overview (3) – Accelerated Development of Own Brand Business, Enhanced R&D CapabilityOwn Brand Business, Enhanced R&D Capability
Own brand PV launched 6 models in 2014;
Own brand PV sales grew 13.5%, higher than DFG PV average growth
Own brand CV business maintained leading position;
MDT,HDT sales maintained industry No.1 for 11 consecutive years
Sales of National IV Emission compliance trucks topped industry
Further enhance R&D capability
NEV business achieved steady development
1400 more units of NEV put into demonstration operation
04080
120160200240280320
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
DFG capacity(`0000)
Business Overview ( 4 )- Steady Growth of Production Business Overview ( 4 )- Steady Growth of Production Capacity , Utilization Rate Maintained at High LevelCapacity , Utilization Rate Maintained at High Level
0,000 units
2014Mid-term Capacity 2014year-end
Capacity2014
ProductionUtilization
Rate 2014
Sales
Sales-output Ratio
Whole Vehicle 308 316 276.2 89.7% 273.4 116%CV 65 65 40 62.2% 39.5 98%PV 243 251 235.4 97.1% 233.9 99%DF Nissan PV 103 113 93.87 91% 95.4 102%DPCA 62 62 71.97 115.9% 70.4 98%DF Honda 36 36 32.2 89.5% 30.8 96%DF PV 12 12 8.4 69.7% 8 96%DF Liuqi(PV+CV) 22 23 24.4 111% 28 115%DF CV 24 24 13.9 68.9% 15.7 113%
Finance Performance - Finance Performance - Steady Growth of Sales Revenue and ProfitabilitySteady Growth of Sales Revenue and Profitability
Sales Revenue (consolidated) Sales Revenue by Segments in 2014(consolidated)
Net Profit
0.0
500.0
1000.0
1500.0
2000.0
2500.0
2010 2011 2012 2013 2014
881.4 949.2 960.4 1174.4
1442.7
334.2 354.7 268.3
502.9
602.3
PV Revenue CV Revenue
0.0 20.0 40.0 60.0
80.0 100.0 120.0 140.0
2010 2011 2012 2013 2014
109.8 104.8 90.9
105.3
128.5
Net Profit
Net Profit by Segments in 2014(consolidated)
0
100
200
300
400
500
600
700
DFL DPCA DF Honda DFCA DFLQ DFPV
655.2
323.3
205.4
325.6
197.9
48.6
Sales Revenue by Segments
-20
0
20
40
60
80
DFL DPCA DF Honda
DFCA DFLQ DFPV
61.78
16.65 21.169.8
2.87
-9.07
Net Profit by Segments
Unit: RMB 100mn
Unit: RMB 100mn Unit: RMB 100mn
Financial Performance –Financial Performance –Further Enhanced Cost Control Capability Further Enhanced Cost Control Capability Sustained Stable ProfitabilitySustained Stable Profitability
Factor Cost Pressure IncreasedCost Control Capability
ImprovedOverall Profitability Maintained Stable
PRC Auto Industry Outlook: PRC Auto Industry Outlook: Sustainable Growth in the Coming Five YearsSustainable Growth in the Coming Five Years
DFG Outlook: Strive for Stable DFG Outlook: Strive for Stable Growth and Improve PerformanceGrowth and Improve Performance
0,000 units 2014 Sales 2015 Sales Forecast 2015 Product Plan
DFG 273.4 295~300( 8%~9.6% )
PV 233.9 255~260( 9%~11.2% ) 9 new models
4 face-lift models
DF Nissan 95.4 97~100( 1.7%~4.8% )
T70(SUV)L12M(C SED)New Qashqai ( SUV)New Murano ( SUV)QX50L(SUV)
DF Liuqi MPV 24.1 24~25( 0~3.7% )
DPCA 70.4 76~78( 8.0%~10.8% ) 308S ( C Class HB)
C3-XR(SUV)New C-Quatre
DF Honda 30.8 35~38( 13.6%~23.4% ) 2BW(B SED)
New Elysion ( MPV)
DF PV Co., 8.0 13~15( 62.5%~87.5% ) D28 (Cross )
L60 (Sedan)
CV 39.4 40(2.5%) 1 new model, 16 facelift models
Q&A