JAPAN: Mitsubishi boosts fiscal year operating income 10%
MMC has posted full-year 2014 net sales of JPY2,180.7bn, a 4% rise compared to the same period last year.
The company also reported operating income of JPY135.9bn, an increase of 10% or JPY12.5bn over a year ago.
Although sales and R&D expenses increased along with a decrease in sales volume and model mix, these were overcome by reductions in material and other costs, in addition to favourable foreign exchange rates, the company said.
Ordinary income was JPY151.6bn, a 17% or JPY22.1bn increase, and net income of JPY118.2bn a 13% or JPY13.5bn increase, both year-on-year. All profit areas for FY2014 were a record.
Global retail sales volume for the full 2014 fiscal year totalled 1,090,000 units, an increase of 4% or 43,000 units compared to the same period in FY2013.
|Mitsubishi Motors Corporation Announces Full-year Fiscal 2014 Operating Results and Fiscal 2015 Forecasts|
Tokyo, April 24, 2015 - Mitsubishi Motors Corporation (MMC) today announced its sales and financial results for the full 2014 fiscal year (FY2014) ending March 31, 2015, as well as forecasts for the full 2015 fiscal year (FY2015), ending March 31, 2016.
[ Reference Documents (Consolidated) (PDF: 1pages 26KB) ]
[ Reference Documents (Non-Consolidated) (PDF: 1pages 26KB) ]
[ Summary of Financial Results (PDF: 33pages 259KB) ]
[ Presentation (PDF: 31pages 1.1MB) ]
[ Additional Information Material (PDF: 2pages 140KB) ]
[ Notice Regarding Dividends of Surplus (PDF: 1pages 34KB) ]
1. Full-year fiscal 2014 operating results
1. Performance overview
MMC posted a consolidated net sales of 2180.7 billion yen over the full term of FY2014 (April 1 2014 through March 31, 2015), a 4% or 87.3 billion yen increase over the same period last fiscal year.
MMC posted an operating income of 135.9 billion yen, an increase of 10% or 12.5 billion yen over the same period last fiscal year. Although sales and R&D expenses increased along with a decrease in sales volume and model mix, these were overcome by reductions in material and other costs in addition to favorable foreign exchange rates.
Other items include ordinary income at 151.6 billion yen, a 17% or 22.1 billion yen increase, and a net income of 118.2 billion yen, a 13% or 13.5 billion yen increase, both year-on-year. All profit areas for FY2014 were all-time record high profits.
2. Sales volume (Retail)
Global retail sales volume for the full 2014 fiscal year totaled 1,090,000 units, an increase of 4% or 43,000 units over the same period in FY2013. Sales volumes by regions were as follows.
Japan: Sales volume decreased with both registered vehicles and minicars totaling 115,000 units, a year-on-year decrease of 20% or 28,000 units.
North America: Sales volume totaled 117,000 units, an increase of 21% or 20,000 units over the same period last year. The increase was driven by brisk sales of the Outlander Sport and Mirage as economic recovery in the United States moved onto a firmer pace
Europe: Sales volume totaled 227,000 units, an increase of 13% or 25,000 units year-on-year. Despite worsening economic situation in Russia which affected sales decline from the same period last year, the sales increase of the Outlander PHEV in Western Europe contributed to the overall increase for the region.
Asia: Sales volume totaled 344,000 units, which was about the same level as the same period last year. Although recovery in total demand for Thailand remained sluggish, an increase in sales in China, mainly stemming from GAC Mitsubishi Motors Corporation offset this.
Other Regions: Sales volume totaled 287,000 units, an increase of 10% or 26,000 units year-on-year. Sales increased in the Middle East, resulting in an overall increase in sales for the region.
2. Full-year fiscal 2015 forecasts
Full-year FY2015 (April 1, 2015 to March 31, 2016) operating results forecasts are as follows:
1. Outline of full-year FY2015 operating forecasts:
* This item will be changed to "Net income attributable to owners of the Parent" in FY2015
2. Sales volume forecast (Retail):
Forecast for full-year FY2015 is 1,100,000 units, a 1% or 10,000 units over FY2014. Breakdown by region is as follows:
Original source: http://www.mitsubishi-motors.com/publish/pressrelease_en/corporate/2015/news/detail0966.html