Nissan Motor on Wednesday reported fiscal third quarter operating profit up 3.6% year on year to JPY118.1bn yen (US$1.53bn, EUR1.13bn) and an operating profit margin of 5.1%.
Third quarter revenue was up 10.9% to JPY2.331 trillion ($30.12bn, EUR22.35bn), ordinary profit was JPY121.5bn (US$1.57bn, EUR1.16bn) and net income rose 3.2% to JPY82.7bn ($1.07bn, EUR790 million).
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“Significant external headwinds such as the abnormally strong yen and floods in Thailand challenged us during the third quarter,” said president and CEO Carlos Ghosn. “Nissan responded decisively to these challenges, boosted by the strength of our product, our global team and the execution of the Power 88 mid-term plan; I am confident that [we] will deliver the full-year profitability targets.”
The automaker sold 1.205m vehicles worldwide in the quarter, up 19.5% year on year.
For the nine months to 31 December, Nissan booked consolidated net revenues of JPY6.6984 trillion ($84.79bn, EUR60.56bn) and operating profit of JPY427.8bn ($5.42bn, EUR3.87bn), and an operating margin of 6.4%. Net income was JPY266.1bn ($3.37bn, EUR2.41bn). April-December 2011 vehicle unit sales increased 13.6% to 3.429 m.
Nissan has left its forecast for the full fiscal year to 31 March, 2012 unchanged with an operating profit outlook of JPY510bn ($6.38bn, EUR4.56bn) and net income of JPY290bn ($3.63bn, EUR2.59bn).
