Tokyo, July 24, 2018 - Mitsubishi Motors Corporation (MMC) today announced first-quarter financial results for Fiscal Year 2018 ended March 31, 2019 (1Q/FY2018).
[ Reference Documents (Consolidated) (PDF: 1pages 128KB) ]
[ Summary of Financial Results (PDF: 11pages 200KB) ]
[ Presentation (PDF: 36pages 1.91MB) ]
[ Additional Information Material (PDF: 2pages 117KB) ]
[ Summary of Financial Results (PDF: 11pages 200KB) ]
[ Presentation (PDF: 36pages 1.91MB) ]
[ Additional Information Material (PDF: 2pages 117KB) ]
1. 1Q/FY2018 Financial Results Highlights
Mitsubishi Motors reported net sales for 1Q/FY2018, up 27.0% year-on-year to 560.0 billion yen. Operating profit rose from 20.6 billion yen in the same period of FY2017 to 28.1 billion yen (up 36.4% year-on-year), representing an operating margin of 5.0%. The company generated net income of 28.2 billion yen (up 22.6% year-on-year) for the latest 3-month period.
2. Global sales performance
Global sales volume for 1Q/FY2018 increased 21% year-on-year to 292,000 units.
ASEAN sales increased by 28% to 69,000 units, driven by orders for pick-up trucks in Thailand and the strong performance of the new XPANDER MPV launched in Indonesia last fall.
In China, sales rose 50% year-on-year to 36,000 units due to strong demand for the localized Outlander.
Sales in North America increased by 25% year-on-year to 45,000 units. The growth was driven by solid demand for the Outlander PHEV and Eclipse Cross, which were launched in the latter half of 2017.
3. FY2018 forecasts
MMC forecasts for FY2018 are as shown below. There is no change from what was disclosed to Tokyo Stock Exchange in May 2018.
Osamu Masuko, Chief Executive Officer of Mitsubishi Motors, said: "In the second year of the current Mid-Term Plan, we have made a good start in line with our goals for both volume and profitability. We will be relentless in achieving our target while making necessary investments for the future 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 vehicles. The company launched the i-MiEV – the first mass-produced electric vehicle in 2009, which was followed by the OUTLANDER PHEV in 2013 – a plug-in hybrid market leader in Japan and Europe. Mitsubishi Motors has 30,000 employees and a global footprint with production facilities in Japan, Thailand, China, Indonesia, Philippines and Russia. Models, such as the PAJERO SPORT/MONTERO SPORT, TRITON/L200 and OUTLANDER play a major role in achieving its growth. The global sales volume in fiscal year 2017 was 1,101,000 units, and the net sales of Mitsubishi Motors for fiscal year 2017 was 2.19 trillion yen. MMC is listed on the Tokyo Stock Exchange.
Note on forward-looking statements
All statements herein, other than historical facts, contain forward-looking statements and are based on Mitsubishi Motors Corporation's current forecasts, expectations, targets, plans, and evaluations. Any forecasted value is calculated or obtained based on certain assumptions. Forward-looking statements involve inherent risks and uncertainties.
A number of significant factors could therefore cause actual results to differ from those contained in any forward-looking statement. Significant risk factors include:
Potential risks and uncertainties are not limited to the above and Mitsubishi Motors Corporation is not under any obligation to update the information in this news release to reflect any developments or events in the future.
If you are interested in investing in Mitsubishi Motors Corporation, you are requested to make a final investment decision at your own risk, taking the foregoing into consideration. Please note that neither Mitsubishi Motors Corporation nor any third party providing information shall be responsible for any damage you may suffer due to investment in Mitsubishi Motors Corporation based on the information shown in this news release.
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