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Rail Systems Business Strategy Hitachi IR Day 2015

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Rail Systems Business Strategy Hitachi IR Day 2015 Rail Systems Business Strategy Hitachi IR Day 2015 June 11, 2015 Alistair Dormer Vice President and Executive Officer Global CEO, Rail Systems Business Hitachi, Ltd. © Hitachi, Ltd. 2015. All rights reserved. Rail Systems Business Strategy Contents 1. Business Overview 2. Key Achievements 3. Business Performance and Updated Forecasts 4. Market Environment and Industry Trends 5. Acquisition of Ansaldo STS and AnsaldoBreda 6. Conclusion 7. Appendix A: Supplementary Information © Hitachi, Ltd. 2015. All rights reserved. 1-1. We operate across the entire rail value chain Rolling Stock Japan Transportation Service Components and Rail Control Systems Equipment Solutions • Shinkansen • Turn-key solutions • Whole life • Traction converters • Automatic Train Protection • Commuter Metro Systems maintenance • Auxiliary converters • Interlocking systems • Intercity Monorail systems • Remote condition- • Traction motors • Communication-Based • Metro • Operations and based monitoring • HVAC Train Control • • • Train Control and maintenance Overnight servicing Platform gates Monitoring System • PPP Projects • Cleaning • Substation Equipment • Traffic Management System Train Lease • Wheel turning • Measurement Train • European Train Control • Fuelling Equipment System • Overhauls • Traction transformers Rolling Stock Int’l Information Solutions • AT100 – Metro • Passenger • AT200 – Commuter Information System • AT300 – Intercity • Digital Signage • AT400 – Very High • Visual Information Speed Train System * Transport management Rolling stock systems 75% and control systems 25%* * Based on FY2014 Revenue PPP : Public Private Partnership HVAC : Heat Ventilation Air Conditioner © Hitachi, Ltd. 2015. All rights reserved. 3 1-2. Solid FY2014 performance vs forecasts (Based on US GAAP) Revenues Op. Income Ratio Forecast Actual Forecast Actual ¥154.0B ¥171.4B 4.0% 4.6% Chg (Billion yen):+17.4 Chg (bps): +60 Chg (%): +11.3 Free Cash Flow EBIT EBIT Ratio Forecast Actual Forecast Actual Forecast Actual ¥-11.0B ¥6.9B ¥3.7B ¥12.9B 2.4% 7.5% Chg (Billion yen): +17.9 Chg (Billion yen): +9.2 Chg (bps): +510 Chg (%): N/A Chg (%): +248.6 Order Intake Order Backlog Forecast Actual Forecast Actual ¥400.0B ¥479.9B ¥752.6B ¥818.5B Chg (Billion yen): +79.9 Chg (Billion yen): +65.9 Chg (%): +20.0 Chg (%): +8.8 © Hitachi, Ltd. 2015. All rights reserved. 4 Rail Systems Business Strategy Contents 1. Business Overview 2. Key Achievements 3. Business Performance and Updated Forecasts 4. Market Environment and Industry Trends 5. Acquisition of Ansaldo STS and AnsaldoBreda 6. Conclusion 7. Appendix A: Supplementary Information © Hitachi, Ltd. 2015. All rights reserved. 2-1. We continue to deliver on existing orders… Inauguration of Hokuriku Arrival of the first IEP train Daegu completed Production of Arrival of the first Completion of Kanazawa / pre-series Class the Daegu Metro Hokuriku 800 train for IEP Line 3, the first Shinkansen E7/W7, at the port of monorail COSMOS, DS-ATC, Southampton, UK. train in Korea. power supply, Platform gate. Signalling system operational UK factory on schedule Singapore Office Established Beginning operations for the ATACS Construction Set-up of on Senseki line. works for the new Singapore rail Train Existence Supervision System Management System Management Equipment (Management of Equipment Equipment System Monitor System & On-board ID) (for facilities) (for Transportation) factory (Newton office. LAN LAN Aycliffe, UK) are New engineering ATACS Network well under way… team recruited. Ground Controller Ground Controller Ground Controller Ground Controller (Tagajyou) (Higashishiogama) (Aobadori) (Miyagino) Field Controller Man-machine Maintenance PC PC System Monitor CTC Device On-board ID LAN detection device ….as per our Field LAN Field Controller Field Controller schedule, the factory LMA (Limit of Movement Authority) Radio Base Station Train Location will be completed and On-Board Control train production will Equipment Speed Check Profile Transponder On-Board ID On-Board ID start by September Point Level Crossing On-Board LMA (Limit of Movement Authority) Transponder 2015. Introduction of Energy Savings UK depots on schedule Ho Chi Minh metro project Visualisation of North Pole depot Turn-Key project power supply / was completed in for Ho Chi Minh on-demand March 2015 with metro (Vietnam) power control, Bristol, Swansea is proceeding B-CHOP*,RPC. and Doncaster according to being constructed programme. on time. * B-CHOP:Energy Storage for Traction Power Supply System ATACS : Advanced Train Administration and Communication System COSMOS : Computerized Safety Maintenance and Operation Systems of Shinkansen RPC : Railway Static Power Conditioner DS-ATC : Digital communication and control for Shinkansen - ATC IEP : Intercity Express Programme © Hitachi, Ltd. 2015. All rights reserved. 6 2-2. … and successfully secure new orders in wide countries and regions England Scotland Russia China RS/Services RS/Services Components Signalling Preferred bidder for 29 Inverters for St trains for First 70 trains for Petersburg Signalling for Great Western Abellio ScotRail Metro LRT in Zhuhai Japan RS E7/W7 for East Japan Railway Company and West Japan Railway Company England RS/Services Financial Close for 65 trains for IEP ECML Japan RS N700A for Central Japan Railway Company and West Japan Qatar Myanmar Singapore Taiwan Railway Company Doha Metro Signalling Signalling RS Upgrade Part of Signalling for Sentosa Tilt trains for consortium for Yangon, Monorail with Taiwan Railway Qatar Rail Mandalay CBTC Administration RS : Rolling Stock ECML : East Coast Main Line LRT : Light Rail Transit © Hitachi, Ltd. 2015. All rights reserved. CBTC : Communication-Based Train Control 7 2-3. We are executing our strategy… Our Strategy 1 Implementation of a global organisation ● Europe ● China 1 Implementation of a global organisation • Global HQ established • Established signalling / control system • New office set up in Glasgow manufacturing base • • New HRE executive management Expanded electrical component Implementing the new global organisation structure manufacturing bases Expand existing bases Develop market localisation ● ● ● Japan ● ▲● • Enhanced the role as 2 Transformation of the business model / portfolio ● technology hub ▲ • Enhance relationship with ▲▲ Middle East ▲ Japanese customers Reshape the business portfolio • Started project Expand and enhance the product portfolio execution and market studies ▲ ▲▲ South America 3 Innovation • Staff dispatched for market studies ▲ Total rail systems solutions ▲ India ▲Southeast Asia ▲ • Established new engineering Intensive R&D investment • Sales Vice President Expand / Enhance Existing Bases recruited for business centres in Ho Chi Minh City expansion • Singapore office opened for ▲ Project Teams signalling business Sales Offices 2 Transformation of the business model / portfolio 3 Innovation SiC Inverter Component Assembly System Service R&D investment in SiC inverter Hybrid train Expand and Bigger System Continue to enhance production integration secure Hybrid (Battery + Engine) train product capability capabilities maintenance portfolio Construction Production contracts AT100, AT200, AT300 and AT400 Production of Newton started for New contracts of SiC Aycliffe plant Ho Chi Minh include IEP Modularised prototype developed and launched in UK Converter on schedule City Turn- ECML and New contract Handover key project Abellio for Sentosa expected on New ScotRail Remote condition monitoring Monorail the 1st of contracts for Depot Next generation Remote Condition Monitoring, including with CBTC September Myanmar construction Big Data 2015 and Quatar on track SiC : Silicon Carbide HRE : Hitachi Rail Europe © Hitachi, Ltd. 2015. All rights reserved. 8 2-4. …and leading the global consolidation On February 24th, 2015 the Boards of Directors of Hitachi, Ltd. and Finmeccanica S.p.A. announced that they had signed binding agreements for the sale and purchase of: Hiroaki Nakanishi and Prime Minister Renzi the majority of the current business of AnsaldoBreda S.p.A., with the exclusion of some revamping activities and certain historical contracts the entire interest owned by Finmeccanica in Ansaldo STS S.p.A., equal to approximately 40% of the share capital Alistair Dormer, Minister Guidi, Mauro Moretti -Newco Businesses Business Segments Businesses Business Segments Signalling systems High Speed Rolling Stock High Speed Design and production of Main Lines and Freight AnsaldoBreda specialises in Main Line signalling systems and Metros and Tramways the construction of Mass Transit components for railways andboth Equipment and Components technologically advanced Driverless Metros waysideunderground and oninfrastructure-board Computer Based rolling stock. Trams Interlocking Locos Turn-Key Solutions Planning, Supervision and Services Design and productionengineering of of Traffic Control integrated transport systems Turn-Key Solutions © Hitachi, Ltd. 2015. All rights reserved. 9 Rail Systems Business Strategy Contents 1. Business Overview 2. Key Achievements 3. Business Performance and Updated Forecasts 4. Market Environment and Industry Trends 5. Acquisition of Ansaldo STS and AnsaldoBreda 6. Conclusion 7. Appendix A: Supplementary Information © Hitachi, Ltd. 2015. All rights reserved. 3-1. Solid financial performance (Based on US GAAP) Orders (Billion yen) Revenues (Billion yen) OP Income (Billion yen / %) 7.5% 600.0600 300.0300 25.025 479.9 4.5% 4.0% 4.6% 400 200 20.020
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