[PDF] JAGUAR LAND ROVER AUTOMOTIVE PLC

View - Download JAGUAR LAND ROVER AUTOMOTIVE PLC

Previous PDF

Next PDF

JAGUAR LAND ROVER AUTOMOTIVE PLC

Annual Report 2019/20

JAGUAR LAND ROVER AUTOMOTIVE PLC

Annual Report 2019/20

JAGUAR LAND ROVER AUTOMOTIVE PLC

Annual Report 2019/20

STRATEGIC REPORT

Fiscal year 2019/20 at a glance

Chairman's statement

CEO's statement

Challenges and opportunities

Business model and our blueprint

for success

Global retail sales

CFO's statement

Financial performance

Our principal risks

Streamlined energy reporting

Introduction to governance

Leadership

Effectiveness

Accountability

Jaguar Land Rover's approach to tax4

5 7 9 11 13 15 16 19 23
25
27
31
32
35

FISCAL YEAR 2019/20 AT A GLANCECONTENTS

3

FINANCIAL STATEMENTS

Independent auditor's report

Consolidated income statement

Consolidated statement of

comprehensive income and expense

Consolidated balance sheet

Consolidated statement of

changes in equity

Consolidated cash flow statement

Notes (forming part of the consolidated

financial statements)

Parent company financial statements39

49
49
50
51
52
53
125
We are a global automotive manufacturer and leading technology company, proudly built around two iconic British car brands:

Jaguar

and

Land Rover. We are driven by a desire

to deliver class-leading vehicles, providing experiences people love, for life.Our mission is Destination Zero; a world of zero emissions, zero accidents and zero congestion, shaping an autonomous, connected, electrified and shared future.

RETAIL SALES INCLUDING

OUR CHINA JOINT VENTURE

FISCAL 2019/20: 508,659

FISCAL 2018/19: 578,915

FISCAL 2017/18: 614,309

508,659 UNITS

WHOLESALES EXCLUDING

OUR CHINA JOINT VENTURE

FISCAL 2019/20: 475,952

FISCAL 2018/19: 507,895

FISCAL 2017/18: 545,298

475,952 UNITS

REVENUE

FISCAL 2019/20: £23.0bn

FISCAL 2018/19: £24.2bn

FISCAL 2017/18: £25.8bn

£23.0 BN

PROFIT/(LOSS) BEFORE TAX

AFTER EXCEPTIONAL CHARGES*

FISCAL 2019/20: £(0.4)bn

FISCAL 2018/19: £(3.6)bn

FISCAL 2017/18: £1.5bn

£(0.4) BN

OPERATING CASH FLOW

BEFORE INVESTMENT

FISCAL 2019/20: £2.6bn

FISCAL 2018/19: £2.5bn

FISCAL 2017/18: £3.1bn

£2.6 BN

TOTAL INVESTMENT

SPENDING*

FISCAL 2019/20: £3.3bn

FISCAL 2018/19: £3.8bn

FISCAL 2017/18: £4.2bn

£3.3 BN

* Please see note 3 of the financial statements on page 70 for alternative performance measures

DIRECTORS" REPORT

Directors' report 37

JAGUAR LAND ROVER AUTOMOTIVE PLC

Annual Report 2019/20

In the past year, the global automotive industry has witnessed the greatest set of challenges in its history. Faced with the COVID-19 crisis and market headwinds that were mounting even before the pandemic, Jaguar Land Rover has responded responsibly and eectively to this unprecedented disruption. I would like to thank everyone at Jaguar Land Rover, as well as our many partners and stakeholders, for their commitment, hard work and support for the business. Together, we will safeguard the future of these iconic brands, Jaguar and Land

Rover.

From the Tata Group, in return, our commitment remains to prioritise the well-being, the safety and health of everyone in both our global network and in subsidiary operations such as Jaguar Land Rover. This shared enterprise and cooperation, aligned to our support for every community in which we operate, is a hallmark of the stakeholder capitalism that dierentiates the Tata Group. At Jaguar Land Rover and at Tata Motors, we have seen the

importance of this shared enterprise over the past year as we sought eciencies in every part of our operations stretching

from supply chains to manufacturing plants, and from R&D centres to retailer networks. The new scal year will be marked by further uncertainty, reecting the varying pace of economic recovery in dierent regions. This will require a continued focus on nancial discipline and further eciencies, building on the considerable success of Jaguar Land Rover"s Charge+ and Accelerate programmes. I am condent that these measures will enable the return to long-term sustainable and protable growth. I am equally condent that Jaguar Land Rover will play a central part in the automotive industry"s shi to an increasingly autonomous, connected, electried and shared (ACES) mobility world. At the same time, we will prioritise simplication, synergies and scale within the Tata Motors family, including working with partners when it makes sense to do so.In the year ahead, we must seize every opportunity that arises in these areas while addressing the ongoing industry challenges that confront us. These challenges include preparing for Britain"s withdrawal from the European single market at the end of the Brexit transition period, albeit with little clarity yet on the shape of future trading arrangements. This year, our Chief Executive Ocer Prof Sir Ralf Speth will retire aer 10 years of dedicated service. I would like to personally thank him for his vision, unfaltering passion and commitment in leading Jaguar Land Rover, delivering new technologies and outstanding products and services. I know that Jaguar Land Rover has a dedicated management team and a highly skilled and committed workforce which will enable it to continue to navigate the many challenges of today to achieve a bright future. Jaguar Land Rover remains a key pillar of the wider Tata Group. With Tata Group"s active and constant support, Jaguar Land

Rover has the resilience and capabilities to emerge successfully from the upheavals of 2019-20. The company"s unique

capabilities - especially in high-performance and go-anywhere luxury vehicles - are recognised already by customers around the world. Those capabilities will drive future demand. At the same time, Tata Group recognises and values Jaguar Land Rover"s future potential highly. That is why this company is central to our global automotive presence - a presence that we intend to develop for years to come.

BUSINESS MODELCHAIRMAN'S STATEMENT

5

NATARAJAN CHANDRASEKARAN

C hairman

Jaguar Land Rover Automotive plc

2 July 2020

JAGUAR LAND ROVER AUTOMOTIVE PLC

Annual Report 2019/20

BUSINESS MODELCHIEF EXECUTIVE OFFICER"S STATEMENT

PROF SIR RALF D SPETH KBE FRENG FRS

Chief Executive O?cer

Jaguar Land Rover Automotive plc

2 July 2020

This year, Jaguar Land Rover reimagined the Land Rover Defender and celebrated winning an historic treble at the

2019 World Car of the Year awards with the Jaguar I-PACE.

We are proud to be the UK's largest automotive manufacturer, respected across the world for our outstanding, award-winn ing products and innovative, customer-focused technologies. It is our people that make us what we are. I would like to thank everyone at Jaguar Land Rover and Tata for their outstanding support.

2020 will be remembered for the COVID-19 pandemic,

which has devastated lives, caused a global healthcare crisis and disrupted businesses worldwide. Even before the virus outbreak, the 2020s promised to be a decade of change for the entire automotive sector. As a company, we will learn from these challenges and find even better ways to achieve our Destination Zero mission of zero emissions, zero accidents and zero congestion.

Our Performance

Total revenues in Fiscal 2019/20 were £23.0 billion, with

475,952 wholesale units (excluding wholesales from our

China joint venture), an EBIT margin of -0.1%

1 and a loss before tax of £422 million 1 Notwithstanding the impact of regulatory changes, shi ing consumer tastes, Brexit and ongoing trade tensions, during the second and third quarters, sales for Jaguar and Land Rover were on a strong and profitable trajectory, underpinned by the pro-forma £2.9 billion 2 of cost and cashflow improvements achieved through our major transformation programme, Project Charge by 31 December 2019. Our decisive turnaround measures in China resulted in six months of continued double digit year-on-year growth. The unprecedented disruptions caused by the COVID-19 outbreak inevitably impacted sales and profitability in the fourth quarter. Despite the many headwinds, retail sales of our all-electric Jaguar I-PACE and our all-new Range Rover Evoque increased year-on-year by 40.0% and 24.7% respectively. In addition, we sold more of our halo Special Vehicle products than ever before, with over 9,500 vehicles retailed in Fiscal

2019/20, up 64% year-on-year.

We have reacted quickly and decisively to the pandemic, with an accelerated focus on improving cashflow and strengthening liquidity to pave the way for long-term EBIT margin improvement. Charge+, the next phase of our transformation programme, is already ahead of schedule, having achieved a pro-forma £600 million 3 of savings in Q4 Fiscal 2019/20 against a new target of over £2 billion of cost improvements by March 2021.

Our Products and Innovation

We innovate relentlessly, to create exciting and inherently diverse products with a compelling combination of British design and engineering integrity. Our portfolio is attracting a broad range of customers.

This year, Jaguar refreshed its sport saloon

XE , with an enhanced exterior, an all-new luxurious interior and the introduction of new, intuitive technology: wireless device charging, embedded Apple Car Play and Spotify app and the first-in-segment ClearSight interior rear view mirror, feeding images of the road behind to a high-definition screen.

Our iconic sports car, the Jaguar

F-TYPE, has also been

refreshed, receiving overwhelmingly positive customer and media feedback.

Our leaps forward in

electrification were evidenced by significant success for the Panasonic Jaguar Racing team in the Formula E championship this year, securing two victories and two podiums in a highly competitive field of renowned manufacturers. We have taken our learnings from race to road. In November 2019, the groundbreaking Jaguar I-PACE addedquotesdbs_dbs1.pdfusesText_1

[PDF] jaguar voiture

[PDF] jailbreak neoma

[PDF] jalil lespert

[PDF] jantes alliage 16'' pulsize diamantées noir

[PDF] japon carte geographique

[PDF] japon chine concurrences régionales ambitions mondiales

[PDF] japon cultura y tradiciones

[PDF] japon historia y cultura pdf

[PDF] japon pdf historia

[PDF] jardin de versailles

[PDF] jardin en bac

[PDF] jardiner dans 1m2

[PDF] jardinière acier

[PDF] jardiniere beton cellulaire

[PDF] jardiniere en acier corten