Nissan will contribute to alliance partner Renault’s second half by an estimated EUR134m.
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The Japanese automaker earlier announced net first fiscal half income of JPY9bn (US$90m, EUR70m), down 92.9% year on year and revised upward its full-year forecasts.
The better than expected results were due mainly to scrapping incentives in major markets, sales volume growth in China and a recovery plan, the automaker said.
Net revenues were 3.3834 trillion yen (US $35.43bn, EUR25.4bn) in the April-to-September period, down 30.5%. Operating profit was JPY94.9bn (US$990m, EUR710m), down 50.5%, and the operating profit margin was 2.8%. Ordinary profit was 33.2bn yen (US $350m,EUR250m), down 83.6%.
In the first half, Nissan sold 1,623,000 vehicles worldwide, down 14.6% compared with last year.
“We continue to operate in an environment that is volatile and uncertain,” said Nissan president and CEO Carlos Ghosn. “Our outlook will remain cautious until we see evidence that economic recovery can be sustained in world markets.”
For the July to September second quarter, Nissan’s net income was JPY25.5bn (US$270m, EUR190m), down 65.3%. Net revenues were 1.8685 trillion yen (US $19.57bn, EUR14.03bn), down 25.9% compared with a year ago. Operating profit was JPY83.3bn (US $870m, EUR630m), down 25.4%, and operating profit margin was 4.5%. Ordinary profit was JPY59.3bn (US $620m, EUR 450m), down 50.7%.
Nissan sold 901,000 vehicles in the second quarter, down 6.8% compared with the prior year.
Full year net revenues are now pegged at 7 trillion yen (US$77.78bn, EUR 53.19bn) from JPY6.95 trillion; operating profit of 120bn yen (US$1.33bn, EUR910m) from a loss of JPY100bn; and a net loss of JPY40bn (US$440m, EUR300m) from JPY170bn loss.
