Mitsubishi Motors Reports First-Quarter Financial Results For Fy2018

July 27, 2018 by Mitsubishi

Mitsubishi Motors Corporation (MMC) has announced first-quarter financial results for Fiscal Year 2018 ended March 31, 2019 (Q1/FY2018).

1.Q1/FY2018 Financial Results Highlights

Mitsubishi Motors reported net sales for Q1/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 Q1/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.

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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.'