Encouraging financial results roll in

After the pain some gain: Most Q1 results rolling in (and the odd fiscal Q4, fiscal full year and even fiscal Q2) are looking better than a year ago. Here's a round-up.

INDIA: Jaguar Land Rover books GBP1.04bn fiscal year profit

27 May 2011

Champagne corks should be popping just about now at Jaguar Land Rover HQ after Tata Motors’ annual results for fiscal 2010-11 included, to quote the statement: "strong profitability, with healthy volumes..., net revenue of GBP9,906m ($US16,169m) and a profit after tax of GBP1,043m ($1,702m)".

SWEDEN/CHINA: Volvo Car boosts Q1 operating profit

12 May 2011

Volvo Car Corporation, owned by China's Zhejiang Geely, said on Thursday its earnings almost doubled in the first quarter and forecast sales at the Sweden-based carmaker would continue to grow this year.

SPAIN: CIE Automotive sets sales and profit records

12 May 2011

CIE Automotive has achieved a new company record for sales, EBITDA and net profit in the first quarter of 2011. Revenue rose 26.8% to EUR488.8m, EBITDA was up 29% to EUR63.3m and net profit surged 79% to EUR18.9m.

JAPAN: Nissan Motor makes Q4 net profit

12 May 2011

Nissan Motor has posted a fourth quarter net profit of JPY30.8bn, compared with a net loss of JPY11.6bn a year earlier. Sales rose 10% in the quarter to JPY2.351 trillion from JPY2.138 trillion while operating profit was up 7.2% to JPY88.6bn from JPY82.7bn.

JAPAN: Toyota sees output recovery from June, earlier than planned

11 May 2011

With Toyota Motor's quarterly profits hit harder than expected, as a result of the 11 March earthquake and tsunami in Japan, there have been renewed calls for the government to do more to support the automaker's pledge to keep building large numbers of cars at home.

TOYOTA FULL YEAR: Other markets offset Japan gloom

11 May 2011

Toyota Motor Corporation (TMC) boosted operating profit for the fiscal year ended 31 March 2011 from JPY147.5bn to JPY468.2bn and net profit from JPY209.4bn to JPY408.1bn, on sales up just 0.2% to JPY18.993 trillion.

GOLDING’S TAKE: Dan The Man and Dan Ammann explain the plan

6 May 2011

So what you have got here is Dan The Man Akerson who has been chairman and chief executive of GM for the last 10 months, and the brand new chief financial officer Dan Ammann.

US: Tower boosts Q1 sales and profits

5 May 2011

Tower International, auto industry supplier of engineered structural metal components and assemblies, boosted first quarter sales 25% to US$600m and adjusted EBITDA 30% to $65.7m as higher volume was offset partially by less-favourable product mix and launch-related costs. Net income was $9m or $0.45 per share.

US: Visteon Q1 net profit shrinks after '10 special items

5 May 2011

Visteon Corporation first quarter 2011 net profit was $39m, or $0.75 per share, on product sales of $1.97bn, compared with net income of $233m on product sales of $1.85bn for the first quarter of 2010. But last year's result included a $237m net gain related to the termination of company-paid medical, prescription drug and life insurance coverage benefits under US post-retirement employee benefit (OPEB) plans. Adjusted EBITDA for Q1 2011 was $159m, compared with $161m in first quarter 2010.

US: GM Q1 result beats analysts' expectations

5 May 2011

General Motors has announced first quarter results ahead of analysts' expectations with net income of US$3.2bn, or $1.77 per share, the post-Chapter 11 automaker's fifth consecutive profitable quarter. Revenue increased $4.7bn to $36.2bn, compared with the first quarter of 2010. Earnings before interest and tax (EBIT) were $3.5bn. EBIT adjusted to exclude special items was $2.0bn compared with $1.7bn in the first quarter of 2010.

US: Cracking GM Q1 results expected

5 May 2011

General Motors is expected to report first quarter operating earnings more than double a year earlier, driven by recovery in the US and strong sales in Asia.

US: TRW Q1 beats estimates

4 May 2011

TRW Automotive Holdings has posted a profit beating market expectations due to strong automotive production and raised its full year sales outlook.

CZECH REPUBLIC: Skoda boosts Q1 sales, profits

4 May 2011

Skoda first quarter sales rose 33% year on year and operating profit was up 87%.

GERMANY: BMW books first-quarter record sales

4 May 2011

BMW Group has reported first quarter sales up 28.9% year on year to EUR16bn on the back of record vehicle deliveries and said it was targeting a record 1.5m units this year.

GERMANY: Daimler 'almost doubles' Q1 net profit

3 May 2011

Daimler increased first quarter EBIT by 71% to EUR2bn and almost doubled net profit to EUR1,180m on sales "significantly higher" than Q1 2010 at EUR24.7bn (EUR21.2bn).

US: Meritor sales and profits rise in fiscal second quarter

3 May 2011

Meritor second fiscal quarter sales were US$1.2bn, up 37% year on year. Net income was $17m versus $13m and EBITDA was $81m, up 33%.

US: Lear off to a good start

3 May 2011

Lear Corporation, automotive seating and electrical power management system supplier, booked first quarter up 20% to US$3.5bn and operating profit up 48% to $205m in the seventh consecutive quarter of year on year improvement.

US: AA&M doubles Q1 net profit

3 May 2011

American Axle & Manufacturing Holdings booked irst quarter 2011 sales of US$645.6m, up 24% year on year as non-GM sales grew approximately 44% to $178.4m.

INDONESIA: ASEAN Q1 sales rise by 24% to 697,000

3 May 2011

New vehicle sales in the ASEAN region’s six largest markets grew by 24% to 697,337 units in the first quarter of 2011, from 562,203 units a year earlier, according to data collected from industry sources across the region.

US: Chrysler returns to profit

2 May 2011

Chrysler today announced its first quarterly profit since the new company emerged from bankruptcy reorganisation in June 2009.

JAPAN: Denso fiscal year net profit up 95%

28 April 2011

Denso Corporation booked fiscal year net profit of net income up 94.8% to JPY143.0bn on sales up 5.2% to JPY3,131.5bn (US$37.7bn) while operating profit rose 37.8% to JPY188.3bn (US$2.3bn).

US: Healthy Q1 net profit rise at BorgWarner

28 April 2011

BorgWarner booked a net profit in the first quarter of $124.5m, or $1.00 per share, compared with $76.2m and $0.63 a year ago. Sales rose 34.5% to $1,730.4m.

US: Federal-Mogul triples Q1 net profit

28 April 2011

Federal-Mogul on Thursday said first quarter 2011 net income more than tripled to US$51m or $0.51 per share, compared with $15m and $0.15 a year ago.

SOUTH KOREA: Hyundai Q1 net profit surges 47%

28 April 2011

Hyundai Motor on Thursday posted a sharp rise in first-quarter net profit amid brisk sales in overseas markets including China and the United States.

JAPAN: Earthquake costs Mazda huge net loss

28 April 2011

Mazda Motor has said it incurred a consolidated net loss of JPY60.04bn in fiscal 2010 ended 31 March due to damage from the 11 March earthquake and tsunami and other factors.

JAPAN: Earthquake hits Honda's Q4 result

28 April 2011

Honda Motor sales and profits dipped in the fourth fiscal quarter ended 31 March as the effects of the Sendai region earthquake began to bite.

US: Dana books Q1 loss but boosts full year guidance

27 April 2011

Dana Holding Corporation reported adjusted EDITDA of US$181m for the first quarter of 2011 but booked a net loss of $30m due to $53m of one-time charges associated with the refinancing and restructuring of debt in January.

JAPAN: Mitsubishi Motors operating profit up 189%

27 April 2011

Mitsubishi Motors posted a full year operating profit of JPY40.3bn, a 189% or JPY26.4bn increase over the last fiscal year as an increase in unit sales volume together with factors such as reductions in material and other costs more than offset the negative impact of the strong yen.