Nissan has announced financial results for the 9-month period ending December 31 that showed net income of 452.8 billion yen, up 33.7%, as strong demand in North America and Western Europe offset weakness in several emerging markets.
Nissan said operating profit rose to 587.5 billion yen, representing a 6.6% margin on net revenues that rose 10.6% to 8.94 trillion yen.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
“Our product offensive has reaped rewards in North America and Western Europe, where buoyant consumer demand and rising unit sales underpinned Nissan’s overall profit growth,” said Carlos Ghosn, president and chief executive officer.
“Our strong performance in these markets offset the impact of unfavourable exchange rates from emerging markets and challenging market conditions elsewhere in the world.”
Including China JV results, Nissan said that net revenues in the nine-month period increased to 9.72 trillion yen, up 10.5% year-on-year. Operating profit was up 32.1% versus the same period last year, to 682.6 billion yen, resulting in a 7.0% operating profit margin.
On a global basis, Nissan sold 3.89 million vehicles in the period, a 1.4% rise year-on-year.
“Nissan remains on track to achieve its full year financial forecast, reflecting encouraging sales trends in the U.S. and parts of Europe, along with the continued benefits of our cost-discipline and Alliance strategy,” said Ghosn.
Nissan also reported an operating profit of 192.6 billion yen (US$1.69bn) for the October-December quarter, exceeding analyst forecasts. Nissan overcame a 26.8 billion yen hit in the quarter from weakness in the Mexican peso and other currencies against the US dollar.
Carlos Ghosn recently said that Alliance partners Renault and Nissan are looking to increase synergies and raise annual cost savings to EUR4.3bn this year.
