Top Page | English | 简体中文 | 繁體中文 | 한국어 | 日本語
Wednesday, 7 November 2018, 07:28 HKT/SGT
Share:
    

Source: Mitsubishi Motors
Mitsubishi Motors Reports FY2018 First-Half Financial Results for FY2018

TOKYO, Nov 7, 2018 - (JCN Newswire) - Mitsubishi Motors Corporation (MMC) today announced its financial results for the first-half of FY2018 (from April 1 to September 30, 2018).

1. 1H/FY2018 Financial Results Highlights

Mitsubishi Motors reported net sales of 1,169.3 billion yen for the first-half of FY2018, up 23.4% compared to the same period a year ago, against a backdrop of strong global unit sales. Operating profit increased to 56.9 billion yen compared with 44.2 billion yen in the same period a year ago, representing an operating margin of 4.9%. The improvement was driven by unit sales growth combined with material and other cost reductions. Net income was 51.9 billion yen.

2. Global sales performance

Global sales volume for the first-half of FY2018 increased 19% year-on-year to 594,000 units.

Volume in the ASEAN region increased 36% year-on-year to 152,000 units due to strong sales of the XPANDER, a next-generation crossover MPV, in Indonesia and the TRITON pick-up truck, predominantly in Thailand. We have also increased exports of the XPANDER after expanding production capacity in Indonesia.

In the region of China and others, sales increased 19% year-on-year to 82,000 units, driven by strong performance of the locally produced Outlander. We also plan to launch the local production and distribution of the Eclipse Cross in China.

In Europe, sales rose 29% year-on-year to 112,000 units, reflecting strong demand for the Eclipse Cross in Western Europe, as well as for the locally-produced Outlander in the region of Russia and others.

3. FY2018 forecasts

Mitsubishi Motors forecasts for FY2018 are as shown below, reaffirming the figures filed with the Tokyo Stock Exchange in May 2018.

Osamu Masuko, chief executive officer, said: "Despite the impact of natural disasters on production and shipments in Japan since June, the financial results for the first-half of the fiscal year were largely in line with our annual plan. Therefore, the Board of Directors has decided to pay an interim dividend of 10 yen per share as announced at the beginning of the fiscal year. Although we face various uncertainties in the global economy and from ongoing foreign currency fluctuations, we will focus relentlessly on achieving our forecasts in the second-half by boosting on global sales, predominantly in ASEAN, and unfailingly implementing cost reduction.

"The business environment surrounding us, including the global economic and geopolitical situation, is changing rapidly every day. By paying attention and responding flexibly to the various risks that may affect Mitsubishi Motors, we will put our business on a path toward a full-scale recovery and establish the foundations for profitable and sustainable growth."


About Mitsubishi Motors

Mitsubishi Motors Corporation is a global automobile company based in Tokyo, Japan, which has a competitive edge in SUVs and pickup trucks, electric and plug-in hybrid electric vehicles. Since the Mitsubishi group produced its first car more than a century ago, we have demonstrated an ambitious and often disruptive approach, developing new vehicle genres and pioneering cutting-edge technologies. Deeply rooted in Mitsubishi Motors' DNA, our brand strategy will appeal to ambitious drivers, willing to challenge conventional wisdom and ready to embrace change. Consistent with this mindset, Mitsubishi Motors introduced its new brand strategy in 2017, expressed in its "Drive your Ambition" tagline - a combination of personal drive and forward attitude, and a reflection of the constant dialogue between the brand and its customers. Today Mitsubishi Motors is committed to continuous investment in innovative new technologies, attractive design and product development, bringing exciting and authentic new vehicles to customers around the world.

Contact:
Mitsubishi Motors
Public Relations Department
http://www.mitsubishi-motors.com
+81-3-6852-4275


Nov 7, 2018 07:28 HKT/SGT
Source: Mitsubishi Motors

Topic: Press release summary
Sectors: Automotive
http://www.acnnewswire.com
From the Asia Corporate News Network


Copyright © 2018 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.


Mitsubishi Motors Links

http://www.mitsubishi-motors.com/en/index.html

https://www.facebook.com/MitsubishiMotors.en

https://twitter.com/mitsucars?lang=en

https://www.youtube.com/user/MitsubishiMotorsAd

https://ph.linkedin.com/company/mitsubishi-motors

Mitsubishi Motors
Nov 9, 2018 12:13 HKT/SGT
Mitsubishi Motors' World Debut of TRITON/L200 Start of Sales in Thailand November 17 to Rollout to 150 Countries
Nov 8, 2018 19:48 HKT/SGT
Van Production Expands for Renault-Nissan-Mitsubishi in France
Nov 7, 2018 07:41 HKT/SGT
GAC Mitsubishi Motors' Locally-produced Eclipse Cross Goes on Sale in China
Nov 1, 2018 07:35 HKT/SGT
Alliance Ventures Leads Strategic Investment in WeRide.ai
Oct 16, 2018 17:32 HKT/SGT
Mitsubishi Motors Starts Local Engine Production and Expands R&D Center
Oct 16, 2018 17:21 HKT/SGT
GAC Mitsubishi Motors to Start Production of All New EV in China
Oct 15, 2018 17:48 HKT/SGT
Mitsubishi Motors' New TRITON/L200 to be Debuted Soon
Oct 12, 2018 09:20 HKT/SGT
Alliance Ventures Invests in Data Ecosystem for Shared Transport Services
Oct 12, 2018 08:03 HKT/SGT
Mitsubishi XPANDER Wins More Awards from Indonesian Automotive Journalists
Oct 4, 2018 12:02 HKT/SGT
Mitsubishi Motors Increases the Production Capacity in Indonesia
More news >>
 News Alerts
Copyright © 2018 ACN Newswire - Asia Corporate News Network
Home | About us | Services | Partners | Events | Login | Contact us | Privacy Policy | Terms of Use | RSS
US: +1 800 291 0906 | Beijing: +86 10 8405 3688 | Hong Kong: +852 2217 2912 | Singapore: +65 6304 8926 | Tokyo: +81 3 6721 7212

Connect With us: