Strong demand in North America and Western Europe offset the weakness in several emerging markets.
11 Feb 2016 | 3015 Views | By Autocar Professional Bureau
Nissan Motor announced its financial and operational results for the nine month period to December 31, 2015, as strong demand in North America and Western Europe offset weakness in several emerging markets.
The Japanese company reported a record net income of 452.8 billion yen (Rs 27,333 crore) for the ...
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Nissan Motor announced its financial and operational results for the nine month period to December 31, 2015, as strong demand in North America and Western Europe offset weakness in several emerging markets.
The Japanese company reported a record net income of 452.8 billion yen (Rs 27,333 crore) for the period of April to December 2015 (9M FY2015-16), up 33.7% year-on-year.
The company’s operating profit rose to 587.5 billion yen (Rs 35,464 crore), representing a 6.6% margin on net revenues that rose 10.6% to 8.94 trillion yen (Rs 5,40,000 crore).
"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 unfavorable exchange-rates from emerging markets and challenging market conditions elsewhere in the world."
On a management pro forma basis, which includes the proportionate consolidation of results from Nissan’s joint venture operation in China, net revenues in the period increased to 9.72 trillion yen (Rs 5,87,000 crore), up 10.5% year-on-year. The operating profit was up 32.1% YoY to 682.6 billion yen (Rs 41,205 crore), resulting in a 7% 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 US and parts of Europe, along with the continued benefits of our cost-discipline and Alliance strategy," added Ghosn.