Mitsubishi Motors Reports Nine-Month Financial Results for FY2018

Tokyo, February 1, 2019 - Mitsubishi Motors Corporation (MMC) today announced its financial results for the nine-month period to December 31, 2018.

 

[ Reference Documents (Consolidated) (PDF: 1pages 116KB) ]
[ Summary of Financial Results (PDF: 12pages 219KB) ]
[ Presentation (PDF: 27pages 1.82MB) ]
[ Additional Information Material (PDF: 2pages 154KB) ]

 

 

Mitsubishi Motors reported net sales of 1,794.1 billion yen for the nine-month period to December 31, 2018, a 18.2% increase year-on-year. Operating profit rose from 64.6 billion yen in the same period of fiscal 2017 to 85.0 billion yen, representing an operating margin of 4.7%. Net income was 69.2 billion yen.

 

 

Global sales volume for the nine months ended December 31, 2018 increased 15% year-on-year to 894,000 units.

 

ASEAN sales increased 27% year-on-year to 235,000 units, primarily driven by the strong demand for the XPANDER next-generation crossover MPV.

 

Sales in Europe increased 29% year-on-year to 168,000 units, driven by the continued robust performance of the Eclipse Cross and Outlander PHEV in Western Europe and the locally produced Outlander in Russia.

 

Sales volumes increased year-on-year in all regions, including our Bed-rock market of Oceania and our Focus markets of North America and China, others. We are thus progressing generally in line with the full-year forecasts announced at the start of the current fiscal year.

 

 

Our FY2018 full-year consolidated financial forecasts are shown below and remain unchanged from the filing made to the Tokyo Stock Exchange in May 2018.

 

Osamu Masuko, Chairman and Chief Executive Officer of Mitsubishi Motors, said: "Up until the third quarter, we were affected by the negative movements in emerging and commodity currencies, in addition to repeated natural disasters in Japan. Even in these circumstances, we were able to achieve a year-on-year increase as a whole and secure a level close to our plan in terms of sales volume, net sales and operating profit.

In addition to slowing demand in major markets such as the U.S. and China, we are continuously facing a situation of unstable exchange rates. We will be relentless with our continuing efforts to reduce costs, while focusing first and foremost on achieving our full-year target.

 

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.