1、R E S U L T S F O R Q U A R T E R E N D E D 3 1 D E C E M B E R 2 0 2 4J A G U A R L A N D R O V E R A U T O M O T I V E P L CJ A G U A R L A N D R O V E R A U T O M O T I V E P L CConsolidated results of Jaguar Land Rover Automotive plc and its subsidiaries(“JLR”)contained in the presentation are u

2、naudited and presented under IFRS as adopted for use in the UK.Q1 represents the 3-month period from 1 April to 30 JuneQ2 represents the 3-month period from 1 July to 30 SeptemberQ3 represents the 3-month period from 1 October to 31 DecemberQ4 represents the 3-month period from 1 January to 31 March

3、FY represents the 12-month period from 1 April to 31 March of the following yearYTD represents the year to dateRetail volume data includes sales from JLRs unconsolidated Chinese joint venture(“CJLR”),these are excluded from wholesale volume data.Certain financial data included in this presentation c

4、onsist of“non-IFRS financial measures”.These non-IFRS financial measures,as defined by JLR,may not be comparable to similarly-titled measures as presented by other companies,nor should they be considered as an alternative to the historical financial results or other indicators of the performance bas

5、ed on IFRS.EBITDA is defined as profit before:income tax expense;exceptional items;finance expense(net of capitalised interest)and finance income;gains/losses on debt and unrealised derivatives,realised derivatives entered into for the purpose of hedging debt,and equity or debt investments held at f

6、air value;foreign exchange gains/losses on other assets and liabilities,including short-term deposits and cash and cash equivalents;share of profit/loss from equity accounted investments;depreciation and amortisation.EBIT is defined as EBITDA but including share of profit/loss from equity accounted

7、investments,depreciation and amortisation.Free cash flow is defined as net cash generated from operating activities less net cash used in automotive investing activities,excluding investments in joint ventures,associates and subsidiaries and movements in financial investments,and after finance expen

8、ses and fees paid.ROCE is defined as EBIT for the last 12 months divided by the average capital employed over the same period.Capital employed is defined as net assets excluding interest-bearing borrowings and lease liabilities.Certain analysis undertaken and represented in this document may constit

9、ute an estimate by JLR and may differ from the actual underlying results.The information contained in this presentation is provided as of the date of this presentation and is subject to change without notice.The information contained in this document may be updated,completed,revised and amended and

10、such information may change materially in the future.JLR is under no obligation to update or keep current the information contained in this document.Statements in this presentation describing JLRs objectives,projections,estimates and expectations may be“forward-looking statements”within the meaning

11、of applicable securities laws and regulations.No statement in the presentation,including in respect of targets,is intended to be,or intended to be construed as,a forecast of JLRs earnings or cash flow and no statement in the presentation should be interpreted to mean that JLRs earnings or cash flow

12、will necessarily match historical results or future targets.Actual results could differ materially from those expressed or implied.Important factors that could make a difference to JLRs operations include,among others,economic conditions affecting demand/supply and price conditions in the domestic a

13、nd overseas markets in which JLR operates,the effects of global pandemics,changes in government regulations,tax laws and other statutes and incidental factors.All forward-looking statements apply only as of the date hereof and we undertake no obligation to update this information except as required

14、by law and do not assume any responsibility for the ultimate fairness,accuracy,correctness or completeness of any such information presented.J A G U A R L A N D R O V E R A U T O M O T I V E P L CR E S U L T S F O R Q U A R T E R E N D E D 3 1 D E C E M B E R 2 0 2 4D I S C L A I ME RJ A G U A R L A

15、 N D R O V E R A U T O M O T I V E P L CR I C H A R D M O L Y N E U XC H I E F F I N A N C I A L O F F I C E RDefender OCTA Global Media Drive acclaimHighest Q3 revenue on recordJaguar Type 00 revealed at Miami Art WeekR E C E N T B U S I N E S S H I G H L I G H T SRobust Q3 performance deliveredRec

16、ycled seat foam proven in Circularity LabRange Rover Electric testing nears completion 4Range Rover wins Walpole Made in UK award627 398 523 Q3 FY24Q2 FY25Q3 FY25626(256)157 Q3 FY24Q2 FY25Q3 FY251,377131FY24FY251,5041,614FY24FY258.3%7.8%FY24FY258.8%5.1%9.0%Q3 FY24Q2 FY25Q3 FY2521,13521,234FY24FY257,

17、3756,4757,486Q3 FY24Q2 FY25Q3 FY25Wholesales:291.1k 289.5kEBITDA:15.8%14.0%PAT:1,187 1,160 Net debt:1.6b 1.1bF R E E C A S H F L O WE B I T M A R G I NP B T (b e i)151P B T b e f o r e e x c e p t i o n a l i t e m s.E x c e p t i o n a l i t e m s:8 m f o r F Y 2 5 Y T DR E V E N U E Wholesales:101

18、.0k 87.3k 104.4kEBITDA:16.2%11.7%14.2%PAT:592 283 375ROCE:19.1%19.3%19.6%Strong financial performance continues;7.5b revenue;9.0%EBIT;523m PBT(bei)R E C O R D Q 3 R E V E N U E A N D H I G H E S T Q 3 E B I T M A R G I N I N A D E C A D EFY25 Q3&YTD|IFRS,mQ 3Y T DV O L U M E&R E V E N U E-Q3 wholesa

19、les of 104k,up 3%YoY,up 20%QoQ-Q3 retails of 106k,down 3%YoY,up 3%QoQ-Revenue for the quarter of 7.5b,up 2%YoYP R O F I T A B I L I T Y-EBIT margin was 9.0%for the quarter,up from 8.8%in the same quarter in the prior year due to higher volume,improved mix and favourable changes in structural costs,o

20、ffset by increased VME,warranty and FX-Profit before tax and exceptional items was 523m in Q3,down 17%compared to the same quarter in the prior year,due to the same reasons noted above offset by adverse mark-to-market on FX revaluation-ROCE for the 12-month rolling period to 31 December 2024 was 19.

21、6%compared with 19.1%in the equivalent period ending 31 December 2023C A S H F L O W-157m of free cash flow in the quarter-Strong liquidity of 5.1b including undrawn RCF of 1.6b-Net debt of 1.1b,an improvement of 0.5b YoYQ 3 P E R F O R M A N C E S U M M A R Y636.019.8FY24FY2526.424.5FY24FY2585.983.

22、9FY24FY25142.8161.3FY24FY25291.1289.5FY24FY25101.087.3104.4Q3 FY24Q2 FY25Q3 FY2512.16.05.6Q3 FY24Q2 FY25Q3 FY258.97.89.1Q3 FY24Q2 FY25Q3 FY2527.128.830.6Q3 FY24Q2 FY25Q3 FY2552.944.859.2Q3 FY24Q2 FY25Q3 FY25R A N G E R O V E RD I S C O V E R YD E F E N D E RJ A G U A RT O T A L2Q3 FY25|Wholesales1|B

23、rands|Units in 000s7Q 3 W H O L E S A L E S 1 0 4 K,U P 2 0%Q o QMix of Range Rover,Range Rover Sport and Defender increased to 70%of total wholesalesQ 3Y T D1W h o l e s a l e v o l u m e s e x c l u d e s a l e s f r o m u n c o n s o l i d a t e d C h i n a j o i n t v e n t u r e2 T o t a l w h

24、o l e s a l e v o l u m e s f o r Q 2 F Y 2 5 a n d Q 3 F Y 2 5 d o e s n o t c a s t d u e t o r o u n d i n g d i f f e r e n c e s12%17%16%64%62%64%24%21%20%Q3 FY24Q2 FY25Q3 FY25BEV&PHEVMHEVICE59.852.1FY24FY2539.638.0FY24FY2561.950.7FY24FY2575.294.2FY24FY2554.654.4FY24FY2518.018.817.9Q3 FY24 Q2 F

25、Y25 Q3 FY2515.017.19.3Q3 FY24 Q2 FY25 Q3 FY2520.412.721.6Q3 FY24 Q2 FY25 Q3 FY2526.525.138.1Q3 FY24 Q2 FY25 Q3 FY2521.213.717.6Q3 FY24 Q2 FY25 Q3 FY25J L R P O W E R T R A I N M I X(R E T A I L S)-80%electrified-U KC H I N AO V E R S E A SE U R O P EN O R T H A M E R I C AW H O L E S A L E S U P I N

26、 U K,N O R T H A M E R I C A A N D E U R O P E Q o QStrong wholesale volumes reflects improvement in supply chain disruptions8Q3 FY25|Wholesales1|Regions|Units in 000sQ 3Y T D1W h o l e s a l e v o l u m e s e x c l u d e s a l e s f r o m u n c o n s o l i d a t e d C h i n a j o i n t v e n t u r

27、e62749(138)(126)257(146)523Q3 FY24PBT(bei)Volume&mixNetpricingContributioncostsStructuralcostsFX&commoditiesQ3 FY25PBT(bei)Volume&mix110Emissions(30)Other(31)8.8%(1.3)%(1.7)%2.9%0.3%9.0%EBIT Margin9Q 3 E B I T M A R G I N W A S 9.0%,U P F R O M 8.8%I N Q 3 F Y 2 4Q3 FY25|IFRS,mD&A170Engineering&Cap4

28、8Other39VME(1.7)%to(4.2)%(138)Operational FX(105)Realised FX derivatives123FX revaluation(86)Unrealised commodity derivatives(78)Higher volumes,improved mix and reduced D&A,offset by increases in VME,warranty costs and unfavourable FX revaluationWarranty(163)Industrial Ops37523723(85)1,161(1,012)815

29、7PBTNon-cashand otherCashtaxCash profitafter taxInvestmentspendingWorking capital&accrualsFreecash flow 1 5 7 M O F F R E E C A S H F L O W I N T H E Q U A R T E RAfter investment spend of 1,012m10Payables(270)Receivables(16)Inventory168Other126FY25 YTDFY24 YTD1,6221,5041,9222,261(243)(238)3,3013,52

30、7(2,910)(2,334)(260)1841311,377Q3 FY25|IFRS,mD&A377Engineering costs expensed229Interest paid(101)Other218Q 3 F Y 2 5 I N V E S T M E N T O F 1 B;F U L L Y E A R T A R G E T 3.8 BEngineering capitalisation rate of 67%,consistent with recent quartersQ3 FY25|IFRS,m114592296883241,012CapitalisedEnginee

31、ringExpensedEngineeringTotalEngineeringCapitalInvestmentTotalInvestment11FY25 YTD1,3436942,0378732,910FY24 YTD1,0646321,6966382,3343,4565575493818513242,6621,0871241,2117261,600 6001,000TotalLiquidityCY25CY26CY27CY28CY29TotalDebtCash and financial depositsBondsBank loansLeases(IFRS16)&otherUndrawn R

32、CF12D E B T M A T U R I T Y P R O F I L ETotal Debt4,599Total Liquidity5,056Undrawn RCF*Net Debt1,143 Undrawn RCF*Q3 FY25|IFRS,mUndrawn RCF*R e v o l v i n g c r e d i t f a c i l i t y r e f i n a n c e d i n O c t o b e r a t 1,6 0 0 mNet debt reduced by 4.0b since the peak in August 2022 C A S H

33、3.5 B,G R O S S D E B T 4.6 B A N D N E T D E B T A T 1.1 BB U S I N E S S U P D A T EJ A G U A R L A N D R O V E R A U T O M O T I V E P L CM A C R O E C O N O M I C E N V I R O N M E N T JLR import business outperformed the market in the current financial year to date despite macro headwinds local

34、lyComplementary growth expected through licensing of Freelander brand to China JV with local manufacturing of the first model in 2026Ongoing monitoring of the impact of potential tariff plans globallyEngaging closely with the UK Government to ensure our priorities for a future trading relationship w

35、ith the US are well understood by the UK Department for Business and Trade Electrification plans continue to support global CO2 complianceLiaising with UK Government to support review of current ZEV mandateResponding effectively to challenges and opportunities as they continue to present themselvesC

36、 H I N A M A R K E TT A R I F F SE M I S S I O N S R E G U L A T I O N S14660540400330300300325FY19FY20FY21FY22FY23FY24FY25Cash flow breakeven15C A S H F L O W B R E A K E V E NEfficiently managing cash flow breakeven despite macroeconomic challengesHow is this being managed?BR A N D P R O F I T A B

37、I L I T Y Maximise offering&elevate through personalisation&bespoke focusI N VES T M EN T O P T I M I S A T I O N Streamline and prioritise based on value potentialC O S T R ED U C T I O NInnovate to reduce the cost of manufacturing and operationsA F T ER S A L ES P R O F I T A BI L I T YRealise pro

38、fit potential for post-vehicle sales servicesBA L A N C E S H EET O P T I M I S A T I O NFocus on freeing cash tied up in working capitalUnits in 000sF o r a n a l y t i c a l p u r p o s e s o n l yJLR LocalFY24 Apr-DecFY25 Apr-Dec29k39k-27%C H I N A M A R K E T U P D A T EJLR in China maintains re

39、silient performance despite macro headwinds16ICE MarketFY24 Apr-DecFY25 Apr-Dec9,622k11,506k-16%C H I N A A U T O M A R K E T C H A L L E N G E SJLR ImportFY24 Apr-DecFY25 Apr-Dec39k42k-6%FY24 Apr-DecFY25 Apr-Dec2,066k2,393k-14%Premium Market(excl.Tesla)RETAILER NETWORK-JLR import business delivered

40、 better than premium market average despite macro headwinds-Retailer situation remains challenging,with a reduction of c.30%of JLRs retailer outlets in calendar year 2024-Recovery plans ongoing,including stock and model mix optimisation,to improve retailer profitability;Q3 Range Rover retails up 33%

41、YoYJ L R C H I N A P E R F O R M A N C EFREELANDER-Growth expected through licensing of Freelander brand to China JV-All products under Freelander brand will be New Energy Vehicles(NEVs)with promising market potential-Freelander brand set to deliver its first model from mid-2026FY25 YTD|RetailsS o u

42、 r c e:e x p e r t i n t e r v i e w;i n s u r a n c e d a t a17*All figures quoted including range and charging capability are manufacturers estimates and are subject to final testing.WLTP(Worldwide Harmonised Light Vehicle Test Procedure).EPA(Environmental Protection Agency)Higher Household Income

43、 Source:Google:US data.Jaguar audience-Demographic of those that searched Jaguar and clicked on a Jaguar ad Source:Google SEM Campaign Data(Google):7/10-18/11 vs 19/11-31/12 Jaguar website trafficFY25 OctFY25 Dec+24%45%56%Higher Household Income SearchesFY25 Oct-NovFY25 Nov-DecIncrease in Jaguar web

44、site traffic during launch and reveal+110%2.43m5.1m-New Jaguar repositioned for luxury market,where it was always more successful-It will be luxurious and sell in low volumes at a higher price point,attracting a younger,wealthier audience-Brand launch and Type 00 design concept reveal surpassed all

45、metrics,generating:-905m OTS(opportunity to see)across earned editorial media-Over 15k press articles-Over 253 million impressions on Owned Social Channels-Over 28k expressions of interest/keep me informed-Jaguars first reimagined production car will be an electric four-door GT,to be revealed in lat

46、e 2025 and built in the UK-The new model will use dedicated Jaguar Electric Architecture and target a range of up to 770km WLTP and 692km EPA*,adding 321km of charge in as little as 15 minutes*-The share of investment for Jaguar over the product cycle will be proportionate to revenue projected for t

47、he brand and its role within our House of BrandsN E W J A G U A R B R A N D L A U N C HNov 2024T Y P E 0 0 R E V E A LI N M I A M IDec 2024JanOct 2025B E S P O K E B R A N D L A U N C H E V E N T SLate 2025P R O D U C T I O N C A R R E V E A L&O R D E R SJ A G U A R E N T E R S N E W E R A A S T Y P

48、 E 0 0 D E B U T S A T M I A M I A R T W E E K8%13%14%15%19%31%18%30%21%15%10%6%New Jaguar targeting right audiences 65+55-6445-5435-4425-3418-24Jaguar SunsetNew JaguarQ3 FY25Q3 FY25ACTUALACTUALFY25FY25YTDYTDFY25FY25OUTLOOKOUTLOOKREVENUE7.5b21.2bc.29bEBIT MARGIN9.0%7.8%8.5%INVESTMENT1.0b2.9b3.8bFREE

49、 CASH FLOW157m131mc.1.3bNET(DEBT)/CASH(1.1)b(1.1)bNet cash positiveROCE19.6%19.6%c.20%18L O O K I N G A H E A DHolding full year guidance for EBIT margin and net cash positiveJaguar Land Rover Automotive plc 202319 Q&ATo ask a question,please use the Q&A function in the Teams Live eventPlease state

50、your name and the name of the organisation you represent along with the questionJaguar Land Rover Automotive plc 202320 R I C H A R D M O L Y N E U XChief Financial OfficerJLRO L I V E R W O L F E N S B E R G E RTreasurerJLRJ L R I N V E S T O R R E L A T I O N SJ L RAbbey Road,Whitley,CoventryCV3 4

51、LF,UKP R O V I S I O N A L D A T E F O R 2 0 2 5 J L R I N V E S T O R D A Y:M O N D A Y 1 6 J U N E 2 0 2 5,G A Y D O N,U KA D D I T I O N A L S L I D E SI N C O M E S T A T E M E N TQ3 FY24Q2 FY25Q3FY25FY24YTDFY25YTDQ3vQ3 YoYQ3vQ2 QoQYTDvYTDYoYRevenues7,375 6,475 7,486 21,13521,234111 1,011 99Mate

52、rial and other cost of sales(4,237)(3,784)(4,329)(12,429)(12,341)(92)(545)88Employee costs(809)(811)(846)(2,238)(2,505)(37)(35)(267)Other(expense)/income(1,513)(1,556)(1,710)(4,196)(4,763)(197)(154)(567)Product development costs capitalised376 435 459 1,0641,34383 24 279Depreciation and amortisation

53、(547)(434)(377)(1,610)(1,321)170 57289Share of profit from Joint Ventures3 3(9)18-(12)(12)(18)Adjusted EBIT648 3286741,7441,64726346(97)FX Revaluation&other43 115(118)688(161)(233)82Net finance(expense)/income(64)(45)(33)(246)(121)3112125Profit before tax and exceptional items627 3985231,5041,614(10

54、4)125110Exceptional items-8-8Profit before tax 627 3985231,5041,622(104)125118Income tax(35)(115)(148)(317)(462)(113)(33)(145)Profit after tax 5922833751,1871,160(217)92(27)22Q3 FY25|IFRS,mQ3 FY25|IFRS,mQ3 FY24Q2 FY25Q3 FY25FY24YTDFY25YTDRetail volumes(000 units)13.410.58.039.429.0Wholesale volumes(

55、000 units)12.99.96.838.328.5Revenue3983102531,202924Profit before tax97(26)37(9)Profit after tax75(19)29(4)EBITDA Margin14%16%24%114%19%EBIT Margin2%2%(10)%13%(1)%Q3vQ3YoYQ3vQ2QoQYTDvYTDYoY(5.4)(2.5)(10.4)(6.1)(3.1)(9.8)(145)(57)(278)(35)(33)(46)(26)(24)(33)10%8%5%(12)%(12)%(4)%23C H I N A J V1E B I

56、 T i n c l u d e s i n c r e a s e d D&A d u r i n g t h e q u a r t e r,d u e t o a c c e l e r a t e d d e p r e c i a t i o n1,6221,922(243)3,301(2,910)(260)131PBTNon-cashand otherCashtaxCash profitafter taxInvestmentspendingWorking capital&accrualsFreecash flow 1 3 1 M O F F R E E C A S H F L O

57、W Y T DInvestment spend of 2.9b funded fully from cash profits after tax24Payables(563)Receivables94Inventory(77)Other286FY25 YTD|IFRS,mQ3 FY25523723(85)1,161(1,012)8157D&A1,321Engineering costs expensed694Interest paid(313)Other2201,3436942,0378732,910CapitalisedEngineeringExpensedEngineeringTotalE

58、ngineeringCapitalInvestmentTotalInvestmentY T D I N V E S T M E N T O F 2.9 B;F U L L Y E A R F O R E C A S T 3.8 BIncreased spend as we near the launch of new productsFY25 YTD|IFRS,m25FY24 YTD1,0646321,6966382,334Q3 FY254592296883241,012 ()()()()(0)0Q3 FY25 YoY|IFRS,mOperational exchange 1 1Realise

59、d FX hedgesFX impact on EBITFX impact on EBITFX revaluation of net debt&debt hedgesOther FX revaluationFX impact on PBTFX impact on PBTUnrealised commodity hedgesFX&Commodity FX&Commodity impact on PBTimpact on PBTRatesQ3 FY25QoQYoYGBP:USD1.255(6.2)%(1.6)%GBP:EUR1.2060.6%4.7%GBP:CNY9.195(1.8)%1.6%mQ

60、3 FY24Q2 FY25Q3 FY25Hedge reserve220086795Change(YoY/QoQ)(105)(772)Total hedges325,33026,24825,36426Q 3 Y o Y A D V E R S E O P E R A T I O N A L F X O F F S E T P A R T I A L L Y B Y H E D G I N GTotal Q3 FX and commodity impact(146)m unfavourable YoY,primarily reflecting lower favourable FX revalu

61、ation YoY1 The year-on-year operational exchange is an analytical estimate,which may differ from the actual impact2 Hedge reserve is the hedge reserve pre-tax3Total hedges is now defined as the total mark to market across all FX derivatives including FX forwards,FX options,FX swaps,cross currency sw

62、aps and any unsettled spot trades4 Minor differences in cross-waterfall casting are due to rounding317.7320.6FY24FY2548.841.2FY24FY2534.331.6FY24FY2586.782.4FY24FY25147.9165.5FY24FY25109.1103.1106.3Q3 FY24Q2 FY25Q3 FY2517.114.211.6Q3 FY24Q2 FY25Q3 FY2511.710.010.1Q3 FY24Q2 FY25Q3 FY2528.826.728.3Q3

63、FY24Q2 FY25Q3 FY2551.552.256.3Q3 FY24Q2 FY25Q3 FY25R A N G E R O V E RD I S C O V E R YD E F E N D E RJ A G U A RT O T A L1Q3 FY25|Retails|Brands|Units in 000s27Q 3 R E T A I L S 1 0 6 K,D O W N 3%Y o Y,U P 3%Q o QRange Rover,Defender and Discovery up QoQQ 3Y T D1 T o t a l r e t a i l v o l u m e s

64、 f o r F Y 2 5 Y T D d o n o t c a s t d u e t o r o u n d i n g d i f f e r e n c e s56.852.9FY24FY2581.168.1FY24FY2559.453.7FY24FY2568.089.3FY24FY2552.456.5FY24FY2518.017.916.4Q3 FY24 Q2 FY25 Q3 FY2527.822.820.8Q3 FY24 Q2 FY25 Q3 FY2519.216.017.2Q3 FY24 Q2 FY25 Q3 FY2525.025.435.7Q3 FY24 Q2 FY25 Q

65、3 FY2519.121.016.1Q3 FY24 Q2 FY25 Q3 FY25U KC H I N AO V E R S E A SE U R O P EN O R T H A M E R I C AY T D R E T A I L S U P I N N O R T H A M E R I C A A N D U KPowertrain mix 80%electrified28Q 3Y T DQ3 FY25|Retails|Regions|Units in 000sJ L R P O W E R T R A I N M I X(R E T A I L S)-80%electrified-12%17%16%64%62%64%24%21%20%Q3 FY24Q2 FY25Q3 FY25BEV&PHEVMHEVICE