There was good news and bad in the latest financial results reported by Nissan. On the upside, it grew quarterly operating profit by a healthy looking 25%, year-on-year. However, Nissan also booked a 9.2 billion yen (USD83.2bn) one-time charge in the current financial year related to under-reported compensation for its scandal-hit former chairman Carlos Ghosn.
Nissan also reported that net income was down by 76.7% year-on-year in the third quarter, although operating profit was up as the company reported an improving sales mix in spite of challenging market conditions and continued sales decline in the US.
Go deeper with GlobalData
For the quarter ended 31 December 2018, Nissan generated an operating profit of 103.3 billion yen on net revenues of 3.05 trillion yen, equivalent to an operating margin of 3.4%. Operating profit was 25.4% ahead of the same quarter of 2017.
Although Nissan sales decreased again in the US, Nissan said that overall operations continued to improve in the third quarter, despite consistently challenging market conditions: In Japan, China, Thailand, the Philippines and Latin America the company's vehicle sales outperformed the market, it said. While sales decreased in the US, quality of sales improved.
In the first nine months of the fiscal year, Nissan generated net revenues of 8.58 trillion yen and an operating profit of 313.7 billion yen, a decrease of 13.9% over the same period of fiscal year 2017.
Overall Nissan unit sales in the first nine months of the fiscal year were down. Nissan said that in the first nine months of the year, global total industry volume increased 0.3% to 68.74 million units over the same period of fiscal 2017. Over the same period, Nissan's global unit sales were 4.02 million units, a decrease of 2.1%, with growth in Japan, China and other markets offset by decreases in North America and Europe. This was equivalent to a global market share of 5.9%, down 0.1 percentage point from a year earlier.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
