CHAIRMAN’S STATEMENT
CHIEF EXECUTIVE OFFICER’S STATEMENT
The previous year has been amongst the most challenging to-
date with the Covid-19 pandemic causing grief and suffering to
humanity at large while adversely impacting the global economy.
For Jaguar Land Rover this resulted in a lower consumer demand
along with disruptions in production, supply chain and retail
networks. This was further exacerbated by the uncertainty over
future trading relations with the EU post Brexit.
In September 2020 it was my privilege to become Chief Execu-
tive Officer of Jaguar Land Rover.
My view of the company from afar was always one of unique-
ness, of Britishness, and of immense brand equity. From inside,
the clarity of that view is even sharper.
Nobody could have anticipated the tragic events of the past
year. I’m deeply proud of our people and the way we worked to-
gether to support our communities throughout the year. The tre-
mendous resilience of my Jaguar Land Rover colleagues is truly
inspiring.
In this context, 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.
Even without the impacts of Covid-19, the business faced chal-
lenges that could be considered major risks. However, the path-
way navigated during the final two quarters is evidence of our
fundamentally strong, re-emerging business.
Despite a 14% drop in revenue to £19.7 billion, the business
improved its EBIT margins by 250 basis points to 2.6% and
generated positive free cash flows of £185 million. Retail sales
declined 14% for the year with China being the exception
growing at a strong 23%. The all-new Land Rover Defender was
a standout performer retailing 45.2K units for the full year as well
as winning the 2021 World Car Design of the Year.
Of course, there are still many hurdles to overcome, including the
current global shortage of semiconductors, but we now have a
clear view of the road ahead with our Reimagine strategy; a fu-
ture of modern luxury by design.
During the year, we had a smooth CEO transition where Thierry
Bolloré took over as the CEO of Jaguar Land Rover from Professor
Sir Ralf Speth. I would like to thank Professor Sir Ralf Speth for his
invaluable contributions to make Jaguar Land Rover what it is
today. During his tenure the company grew its revenues by over
Reimagine allows us to confidently transform the business and
its distinct brands, to over satisfy our customers, and reward
both our investors and our people.
We will simplify our architecture strategy and reorganise our
manufacturing footprint, placing quality and sustainability at the
heart of everything we do. We are now becoming a more agile
organisation that plays to our human-centric strengths.
3.5x and its EBITDA by over 6x. Under his leadership, Jaguar Land
Rover has become a differentiated luxury OEM with two fabled
well-invested brands, a talent base that is world class and a set
of skills and capabilities that will serve us well for the future.
We will create a knowledge-sharing collaborative ecosystem
with the very best partners in global industry to leapfrog forward
in clean energy, sof ware and digitalisation.
Thierry has very quickly moved into his role and worked closely
with the team and the Board to develop the future strategy.
Jaguar Land Rover under his leadership, has now unveiled its
new Reimagine strategy to make the company a world leader
in electrified luxury vehicles, sustainability, manufacturing
efficiency and new automotive technologies to deliver a strong
market performance which shall create long-term shareholder
value.
and our performance is improving consistently. We have the
foundations in place for a sustained, cash accretive growth.
programme development and product lifecycles, as Vehicle Pro-
grammes lead.
Jaguar Land Rover will focus on value creation through a prof-
it-over-volume approach. Our goal is to deliver double-digit EBIT
margin and become one of the world ’s most profitable luxury
manufacturers.
I look forward with confidence to Jaguar Land Rover ’s profitable,
growing, and electric future and I would like to thank all our
colleagues and partners for their continued hard work in making
this a reality.
Finally, to reinforce the importance of carefully curated brand
values and design excellence in the success of modern luxury,
Professor Gerry McGovern joins the Jaguar Land Rover Limited
Board of Directors for both brands as Chief Creative Officer.
Reimagine will see us journey towards net zero carbon by 2039.
Both our brands will be transformed by electrification, with six
new all-electric Land Rover models in the next five years and
Jaguar completely reimagined as a pure electric brand, from
2025.
I am very excited by this new aspiration of the company which
will help it cement its place as a sustainable mobility leader.
We are also working together to drive greater collaboration
and synergies within the Tata Group in areas like clean energy,
connected services, data and sof ware development.
Ultimately, our will is to become the creator of the world ’s most
desirable luxury vehicles and products, for the most discerning
of customers.
Our plan is not to catch up; our plan is to lead.
NATARAJAN CHANDRASEKARAN
CHAIRMAN
Jaguar Land Rover Automotive plc
28 May 2021
Reimagine is our clear strategy. Driving it forward is our Refocus
programme, which will generate sustainable, long-term value
through operational excellence.
Looking into the next year and beyond, I am happy that we have
come out of the pandemic much stronger, with a future ready
strategy that we will execute flawlessly. Our portfolio is fresh,
To help deliver our vision, we have created four new roles on the
Jaguar Land Rover Limited Board of Directors during the last fi-
nancial year.
THIERRY BOLLORÉ
Nigel Blenkinsop joins as Executive Director of Company Quali-
ty & Customer Satisfaction; Dave Owen oversees a new Supply
Chain function; and Nick Collins assumes responsibility for all
CHIEF EXECUTIVE OFFICER
Jaguar Land Rover Automotive plc
28 May 2021
JAGUAR LAND ROVER AUTOMOTIVE PLC
5
Annual Report 2020/21