Top Banner

Click here to load reader

JAGUAR LAND ROVER AUTOMOTIVE PLC · PDF file Jaguar Land Rover is the largest investor in automotive research, development and engineering in the UK, symbolising British craftsmanship,

Apr 20, 2020

ReportDownload

Documents

others

  • ANNUAL REPORT 2014–15 JAGUAR LAND ROVER AUTOMOTIVE PLC

  • JAGUAR LAND ROVER AUTOMOTIVE PLC Annual Report 2014–15

  • Jaguar Land Rover is the largest investor in automotive research, development and engineering in the UK, symbolising British craftsmanship, engineering skills and quality in markets around the world. The Company is built around two iconic, globally- recognised brands. Land Rover is the market leader in luxury sports utility vehicles; Jaguar is renowned for building sports cars and saloons that epitomise performance and seductive design. Together, our brands and products must deliver experiences that customers love, for life. In doing so, Jaguar Land Rover will become one of the world’s most valuable lifestyle companies. This vision reflects the transformation of the company under the ownership of Tata Motors Limited. Jaguar Land Rover is today a solidly profitable, expanding and increasingly international automotive manufacturer. It is pioneering new technologies, opening plants, creating employment and launching breakthrough models for discerning customers. This is a company revitalised, committed to excellence in every part of its business.

    Using your smartphone, scan this code to access our online Review of the year.

    Or visit: http://annualreport2015jaguarlandrover.com

    In tr

    od uc

    ti on

    St ra

    te gi

    c re

    po rt

    O ve

    rv ie

    w G

    ov er

    na nc

    e Fi

    na nc

    ia l s

    ta te

    m en

    ts

    1JAGUAR LAND ROVER AUTOMOTIVE PLC Annual Report 2014–15

    OUR BUSINESS

  • 2 JAGUAR LAND ROVER AUTOMOTIVE PLC Annual Report 2014–15

    KEY STATISTICS

    On a reta i l ba sis

    462,209 vehicles were sold in F iscal Year 2015

    More than

    35,000 people employed wor ldwide

    Suppor ted by a g lobal net work of over

    2,640 dealerships

    We expor t more than

    80% of the vehicles we produce

    Our vehicles are sold in

    170 countr ies

    Ranked a s the

    5th bes t employer to work for   in  the UK Source: Glassdoor.co.uk

    PROFIT AFTER TAX

    2,038

    1,879

    1,214

    1,460

    1,036

    FY12

    FY11

    FY13

    FY14

    FY15

    FY12

    FY11

    FY13

    FY14

    FY15

    FREE CASH FLOW*

    791

    1,150

    595

    958

    876 * Free cash flow reflects net cash generated from operating activities less net cash used in investing activities excluding investments in short-term deposits.

    FY12

    FY11

    FY13

    FY14

    FY15

    TOTAL PRODUCT AND OTHER INVESTMENT

    3,147

    2,680

    2,048

    1,560

    900

    NET CASH/(DEBT)

    1,726

    1,449

    680

    456

    (354)

    FY12

    FY11

    FY13

    FY14

    FY15

    CASH

    4,263

    3,459

    2,847

    2,430

    1,028

    FY12

    FY11

    FY13

    FY14

    FY15

    FY12

    FY11

    FY13

    FY14

    FY15

    DEBT

    2,537

    2,010

    2,167

    1,974

    1,382

    REVENUE

    21,866

    19,386

    15,784

    13,512

    9,871

    FY12

    FY11

    FY13

    FY14

    FY15

    EBITDA (Margin)

    4,132 18.9%

    17.5%

    14.8%

    15.5%

    15.2%

    3,393

    2,339

    2,095

    1,502

    FY12

    FY11

    FY13

    FY14

    FY15

    PROFIT BEFORE TAX

    2,614

    2,501

    1,674

    1,479

    1,115

    FY12

    FY11

    FY13

    FY14

    FY15

    KEY FINANCIALS (£ MILLION)

  • Introduction

    Our business 1 Key statistics 2 Key financials 2 Our highlights 4

    Overview

    Our vehicles 6 Our heritage 8 Our locations 10 Introduction from the Chairman 12 CEO’s statement 13

    Strategic report

    Our strategy 14 Customer first 16 Great products 18 Environmental innovation 20

    Our brands 22

    The Jaguar brand 24 The Land Rover brand 25 Our brand achievements 26 Jaguar awards and sponsorship 28 Land Rover awards and sponsorship 29 The new Jaguar XE 30 The new Land Rover Discovery Sport 32 Special Operations 34

    Our innovation 36

    Design leadership 38 Jaguar Design 40 Land Rover Design 41 Research and technology 42 Advanced technology 44 Collaborations 45

    Our manufacturing capability 46

    Manufacturing 48 UK operations 49 Overseas 51

    Our responsibility 52

    Environmental innovation 54 Our people 58

    Management report 64

    Financial performance 66 Business report 68 Risks and mitigations 76

    Governance

    Board of Directors 84 Executive Committee members 86 Corporate Governance report 88 Statutory disclosures 92

    Financial statements

    Independent Auditor’s report 96 Consolidated financial statements 97 Notes to the consolidated financial statements 101 Parent Company financial statements 144 Notes to the parent Company financial statements 147

    In tr

    od uc

    ti on

    St ra

    te gi

    c re

    po rt

    O ve

    rv ie

    w G

    ov er

    na nc

    e Fi

    na nc

    ia l s

    ta te

    m en

    ts

    3JAGUAR LAND ROVER AUTOMOTIVE PLC Annual Report 2014–15

    CONTENTS

    8 OUR HERITAGE

    36 OUR INNOVATION

    52 OUR

    RESPONSIBILITY

    46 OUR

    MANUFACTURING CAPABILITY

    14 OUR STRATEGY

    6 OUR VEHICLES

    4 OUR

    HIGHLIGHTS

  • 4 JAGUAR LAND ROVER AUTOMOTIVE PLC Annual Report 2014–15

    OUR HIGHLIGHTS

    VEHICLES AND TECHNOLOGY

    OPERATIONS

    PEOPLE AND COLLABORATIONS

    JAGUAR XE The new Jaguar XE redefines the concept of the sports saloon. It is Jaguar’s most advanced, fuel-efficient and digitally-connected saloon to date.

    See pages 30 and 31 for more.

    JOINT VENTURE PLANT IN CHINA Located north of Shanghai, the Changshu factory is part of an RMB 10.9 billion (£1.1 billion) joint venture with Chery Automobile Co., Ltd. with a production capacity of 130,000 units.

    See page 51 for more.

    AWARDS Jaguar Land Rover collected some 200 awards for its products and other areas of its business, including a Queen’s Award, and a number of What Car? Awards.

    DISCOVERY SPORT The new Land Rover Discovery Sport has been developed to be the most versatile and capable vehicle in the mid-sized premium SUV category.

    See pages 32 and 33 for more.

    NATIONAL AUTOMOTIVE INNOVATION CENTRE The foundation stone was laid at the £150 million Advanced Research Centre in the UK, which will open in 2017.

    See page 45 for more.

    ENGINE MANUFACTURING CENTRE The £500 million state-of-the-art Engine Manufacturing Centre was officially opened in October 2014.

    See page 50 for more.

  • In tr

    od uc

    ti on

    St ra

    te gi

    c re

    po rt

    O ve

    rv ie

    w G

    ov er

    na nc

    e Fi

    na nc

    ia l s

    ta te

    m en

    ts

    5JAGUAR LAND ROVER AUTOMOTIVE PLC Annual Report 2014–15

    INFOTAINMENT InControl Touch Pro is Jaguar Land Rover’s most connected infotainment system ever, and is more than 10 times faster than the system it replaces.

    RANGE ROVER AND RANGE ROVER SPORT HYBRIDS The first diesel hybrid SUV’s of their kind in the world. Hybrid technologies are fully integrated in the chassis, with no compromise to off-road capability.

    INGENIUM ENGINE FAMILY A new family of lightweight, low- emission petrol and diesel engines will deliver outstanding fuel economy and performance for models including Land Rover Discovery Sport and Jaguar XE.

    See page 44 for more.

    RECOGNISED AS A LEADING EMPLOYER Jaguar Land Rover is the highest- ranking automotive manufacturer in The Times Top 100 Graduate Employers, recruiting 283 graduates and 193 apprentices in Fiscal Year 2015.

    See page 58 for more.

    INVICTUS GAMES Jaguar Land Rover was proud to be the presenting partner for the Invictus Games, the international sporting event for wounded, injured and sick service personnel, which is championed by his Royal Highness, Prince Harry.

    See page 60 for more.

    INSPIRING TOMORROW’S ENGINEERS In Fiscal Year 2015, the Company engaged with 300,000 young people to promote careers in engineering.

    See page 58 for more.

    SOLIHULL INVESTMENT £500 million invested in a new bodyshop and final assembly facilities at the Solihull plant to support the introduction of new Jaguar models.

    See page 49 for more.

    CASTLE BROMWICH NEW FACILITIES More than £400 million has been committed to support the introduction of the new Jaguar XF. This completes an all-aluminium line-up at the plant.

    See page 50 for more.

    CONSTRUCTION STARTED AT NEW PLANT IN BRAZIL Jaguar Land Rover has started construction of its BRL 750 million (£240 million) manufacturing facility in the state of Rio de Janeiro.

    See page 51 for more.

  • 6 JAGUAR LAND ROVER AUTOMOTIVE PLC Annual Report 2014–15

    OUR VEHICLES

    XE: Our most advanced, efficient and refined sports saloon

    F-TYPE: A true Jaguar sports car, powerful, agile and distinctive

    XF: Assertive

Welcome message from author
This document is posted to help you gain knowledge. Please leave a comment to let me know what you think about it! Share it to your friends and learn new things together.