Nissan Q3 net income up 27%

JAPAN: Nissan Q3 net income up 27%

Author: just-auto.com editorial team | 1 February 2008

Nissan Motor has boosted third quarter net income 26.6% year on year to JPY132.2bn ($US1.13bn, EUR 0.81bn), citing the success of recent new model launches, strong sales in its 'general overseas markets (GOM)' and "a favourable tax position".

Net revenue rose 18.2% to JPY2.7701 trillion ($23.60bn, EUR17.01bn) while operating profit was up 15.8% to JPY211.9bn ($1.81bn, EUR 1.30bn) and operating profit margin was 7.7%. Ordinary profit rose 13.8% to 201.6bn yen ($1.72bn, EUR1.24bn).

For the first nine months of fiscal 2007/8 ended 31 December, Renault's Alliance partner booked net after-tax income of JPY344.6bn ($2.94bn, EUR 2.12bn), down 9.0% year on year.

Net revenue rose 13.9% to 7.8346 trillion yen ($66.73bn, EUR 48.10bn). Operating profit rose 8.9% to 579.1bn yen ($4.93bn, EUR 3.56bn) and operating profit margin was 7.4%. Ordinary profit was up 4.4% to 561.9bn yen ($4.79bn, EUR 3.45bn).

Nissan sold 898,000 vehicles worldwide in the third quarter, up 13.0%. Nine-month sales rose 8.4% to 2,714,000.

"Despite the headwinds that affect our industry, Nissan has benefited from the success of the new products launched during the past 12 months," said president and CEO, Carlos Ghosn. "Although the market outlook remains volatile for the coming months, [we are] focused and on track to deliver our full year objectives," he added.

In the first nine months, Nissan launched nine new or redesigned models: the Livina, X-Trail SUV, Altima coupe (for North America), Atlas F24 truck, Aprio, Infiniti G37 coupe, Rogue, GT-R and Infiniti EX. During the fourth quarter, the redesigned Murano SUV and a new Frontier Navara Single Cab pickup make their debuts.

The automaker's forecast for the full fiscal year remains unchanged at an operating profit of JPY800bn yen ($6.84bn, EUR 5.41bn) and net income of JPY480bn yen ($4.10bn, EUR 3.24bn).

Sectors: Financial, Vehicle manufacturers

Companies: Nissan, Renault, Infiniti