Nissan Motor Co has announced its financial results for the 12-months and fourth quarter ended March 31, 2014.
13 May 2014 | 2902 Views | By Autocar Pro News Desk
Nissan Motor Co has announced its financial results for the 12-months and fourth quarter ended March 31, 2014. The company has reported a net income of 389 billion yen (Rs 22,562 crore) for FY2013, a 14 percent year-on-year growth. Net revenues were 10.48 trillion yen (Rs 607,840 crore), up 20 ...
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Nissan Motor Co has announced its financial results for the 12-months and fourth quarter ended March 31, 2014. The company has reported a net income of 389 billion yen (Rs 22,562 crore) for FY2013, a 14 percent year-on-year growth. Net revenues were 10.48 trillion yen (Rs 607,840 crore), up 20 percent YoY, while operating profit was 498.4 billion yen (Rs 28,907 crore).
Carlos Ghosn, president and CEO, said the company is accelerating measures to meet its Nissan Power 88 mid-term goals, committing to an 8 percent operating profit margin by the end of fiscal year 2016 and targeting 8 percent market share.
“Nissan generated solid results in fiscal year 2013," said Ghosn. “Nissan's performance will improve further in 2014. We are taking determined steps to reach our Power 88 goals including greater focus on market-by-market execution, ramping up newly installed manufacturing capacity and strengthening our brand power."
Improved fourth-quarter profitability enabled Nissan to deliver its full-year net income guidance for fiscal year 2013, the half-way point in the Power 88 plan that runs to the end of fiscal year 2016.
In the last quarter of fiscal year 2013, Nissan implemented a new management organization to enhance operational effectiveness, along with a renewed focus on improved branding, product quality and regional sales operations.
During the 12-month period, the company launched 10 new vehicles and unveiled 22 new technologies. Sales of the all-electric Nissan Leaf – the world's best-selling zero-emission car – surpassed 110,000 units. Nissan also pledged to bring commercially viable Autonomous Drive vehicles to market by 2020. The company is targeting increased synergies and deeper co-operation through the Renault-Nissan Alliance, where business activities were converged last month in four key areas: purchasing, manufacturing and logistics, engineering and human resources. The latest Alliance action forms part of Renault-Nissan's commitment to lift annualized synergies to a minimum of 4.3 billion euros (Rs 35,500 crore) by 2016.
“Taken together, these actions will enable Nissan to reach its goals during the second half of our six-year Power 88 plan," added Ghosn.
In its global sales forecast for fiscal 2014, Nissan says it expects volumes to rise by 8.9 percent to 5.65 million units, equivalent to a market share of 6.7 percent, as new plant capacity comes on-stream in markets such as Mexico and Brazil, while benefiting from full-year sales of new models including Nissan Qashqai and Rogue, Datsun Go and Infiniti Q50.
Globally, Nissan sold a total of 5,188 thousand vehicles in this fiscal year.