2021 JAGUAR LAND ROVER AUTOMOTIVE PLC
ANNUAL REPORT 2020/2021
I am happy to share that the company has delivered a resilient performance during the year. Its financial and market performance notwithstanding, Jaguar Land Rover with its, famous British brands made a critical contribution to the Tata Group’s worldwide efforts to help our communities and our people.
CHAIRMANVIEW THE FULL STATEMENT HERE
Even without the impacts of Covid-19, the business faced challenges that could be considered major risks. However, the pathway navigated during the final two quarters is evidence of our fundamentally strong, re-emerging business. Of course, there are still many hurdles to overcome, but we now have a clear view of the road ahead with our Reimagine strategy; a future of modern luxury by design.
CHIEF EXECUTIVE OFFICERVIEW THE FULL STATEMENT HERE
FISCAL 20/21 AT A GLANCE
2019/2020 - £23.0BN
PROFIT/(LOSS) BEFORE TAX AND EXCEPTIONAL CHARGES
2019/2020 - £(0.4)BN
FREE CASH FLOW
2019/2020 - £(0.8)BN
2019/2020 - £2.2BN
RETAIL SALES INCLUDING OUR CHINA JOINT VENTURE
2019/2020 - 508,659 UNITS
WHOLESALES EXCLUDING OUR CHINA JOINT VENTURE
2019/2020 - 475,952 UNITS
Looking ahead, we anticipate that the challenges facing our industry will continue, however, we are focused on executing our new Reimagine strategy underpinned by the Refocus transformation programme. Together, Reimagine and Refocus, will deliver growing revenue to over £30 billion and double digit EBIT margin by FY2025/26, strong positive free cash flow from FY2022/23 after around £2.5 billion investment spending (annually) and a reduction in net debt; returning to a net cash position in FY2024/25 and thereafter.
CHIEF FINANCIAL OFFICERVIEW THE FULL STATEMENT HERE