Nissan Motor Co., Ltd. today announced financial results for the three-month period to June 30, 2016.
Operating profit was 175.8 billion yen for the period, representing a 6.6% margin on net revenues of 2.65 trillion yen. On a constant currency basis, operating profit was 267.0 billion yen, up 37.8%.
“Nissan has delivered solid results in the first three months of the fiscal year despite recent currency headwinds and continued emerging-market volatility,” said Carlos Ghosn, president and chief executive officer. “Encouraging demand for core products, particularly in North America, and our continued focus on cost efficiencies contributed to an improved underlying performance, making us well placed to deliver our full-year net income guidance. This reflects our cost-discipline, on-going product offensive and the benefits of our Alliance strategy.”
On a management pro forma basis, which includes the proportionate consolidation of results from Nissan’s joint-venture operations in China, net revenue was 2.89 trillion yen. Operating profit was 209.0 billion yen, resulting in a 7.2% operating profit margin.
Nissan maintained its forecasts first issued to the Tokyo Stock Exchange in May. Calculated under the equity accounting method for the fiscal year ending March 31, 2017, the forecasts showed:
|Nissan FY16 Outlook – TSE report basis – China JV equity basis1|
|Net revenue||¥11.8 trillion|
($112.4 billion/€98.3 billion)
|Operating profit||¥710.0 billion|
($6.8 billion/€5.9 billion)
|Ordinary profit||¥800.0 billion|
($7.6 billion/€6.7 billion)
|Net Income2||¥525.0 billion|
($5.0 billion/€4.4 billion)
Calculated on exchange rate of JPY 105/USD and JPY 120/EUR
1 Since the beginning of fiscal year 2013, Nissan has reported figures calculated under the equity method accounting for its joint venture with Dong Feng in China. Although net income reporting remains unchanged under this accounting method, the equity-accounting income statements no longer include Dong Feng-Nissan's results in revenues and operating profit.
2 Net income attributable to owners of the parent
For detailed Nissan financial information and presentations: www.nissan-global.com/EN/IR/FINANCIAL/
“Constant currency” provides a framework for assessing underlying businesses performance excluding the effect of foreign currency rate fluctuations. Constant currency financial measures should not be considered as a substitute for, or superior to, the reported measures of financial performance.
About Nissan Motor Co.
Nissan is a global full-line vehicle manufacturer that sells more than 60 models under the Nissan, Infiniti and Datsun brands. In fiscal year 2015, the company sold more than 5.4 million vehicles globally, generating revenue of ¥12.19 trillion. Nissan engineers, manufactures and markets the world's best-selling all-electric vehicle in history, the Nissan LEAF. Nissan’s global headquarters in Yokohama, Japan, manages operations in six regions: ASEAN & Oceania; Africa, Middle East & India; China; Europe; Latin America and North America. Nissan has a global workforce of 247,500, and has been partnered with French manufacturer Renault under the Renault-Nissan Alliance since March 1999.
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Notes to Editors
About Nissan in the UK
- Nissan Sunderland Plant produces the Nissan Qashqai, Note and Juke and the 100% electric Nissan LEAF
- Production of lithium-ion batteries for electric vehicles began in 2012
- Total plant volume since 1986 stands at more than eight million units with 80 per cent of production exported to 100 markets worldwide
- Total investment made and announced since then is over £3.6 billion
- 476,589 units were produced at Sunderland plant in 2015
- In 2015, one in three cars built in the UK was a Nissan.
- Sunderland Plant currently employs more than 6,700 people
- Nissan's European Design Centre is located in Paddington, London and employs around 65 people
- Nissan's European Technical Centre is based in Cranfield, Bedfordshire and employs around 1,000 people
- Nissan’s sales and marketing headquarters in Rickmansworth, Hertfordshire employs around 190 people
Press release distributed by Pressat on behalf of Pressat Wire, on Wednesday 27 July, 2016. For more information subscribe and follow http://www.pressat.co.uk/