YOKOHAMA, Japan – Nissan Motor Co., Ltd. today announced financial results for the 12 months to March 31, 2015.
|Results for 12 months to March 31, 2015
(TSE report basis – China JV equity basis)*
|Net revenue||¥11.38 trillion
($103.6 billion/€82.0 billion)
|Operating profit||¥589.6 billion
($5.4 billion/€4.3 billion)
|Net income||¥457.6 billion
($4.2 billion/€3.3 billion)
Based on average foreign exchange rates of JPY 109.8/USD and JPY 138.7/EUR for the 12-month period.
The company delivered solid full-year revenues and profits. Robust demand, especially for new products in North America and Western Europe, along with cost efficiencies and the continued correction in the yen-dollar exchange rate, offset challenging market conditions in Japan and several emerging markets.
Operating profit rose to $5.4 billion (¥589.6 billion) for fiscal year 2014, representing a 5.2% margin on net revenues that reached $103.6 billion (¥11.38 trillion) for the period.
In the fourth quarter, operating profits were 171.6 billion yen; net income reached 118.8 billion yen; and revenues increased by 2.6% to 3.29 trillion yen.
On a management pro-forma basis, which includes proportional consolidation of results from Nissan’s joint venture operation in China, fiscal year 2014 net revenues increased to 12.41 trillion yen, up 8.5% year-on-year. Pro-forma operating profit rose by 18.6% to 718.6 billion yen compared with fiscal year 2013. This resulted in a 5.8% operating profit margin.
“These are solid results in a highly competitive market-place,” said Carlos Ghosn, president and chief executive officer. “We have been encouraged by demand for our new products. In the year ahead, we will remain focused on delivering continued revenue and profit growth, driven by our product and technology offensive, cost and sales discipline, and growing synergies from the Renault-Nissan Alliance. These actions will ensure we remain on the right path towards our mid-term strategic goals.”
For fiscal year 2015, Nissan expects to sell 5.55 million units, up 4.4% and equivalent to a global market share of 6.5%. New models, including the Nissan Maxima, Lannia and Infiniti Q30, are expected to contribute to fiscal year 2015 sales growth.
Based on this sales outlook, Nissan has filed the following forecast with the Tokyo Stock Exchange for the twelve month period ending March 31, 2016:
|Nissan FY2015 Outlook – TSE report basis – China JV equity basis*|
|Net revenue||12.10 trillion
($105.2 billion/€93.1 billion)
|Operating profit||675.0 billion
($5.9 billion/€5.2 billion)
|Ordinary profit||765.0 billion
($6.7 billion/€5.9 billion)
|Net Income||485.0 billion
($4.2 billion/€3.7 billion)
Calculated on exchange rate of JPY 115/USD and JPY 130/EUR
*Since the beginning of fiscal year 2013, Nissan has reported figures calculated under the equity method accounting for its joint venture with Dongfeng in China. Although net income reporting remains unchanged under this accounting method, the equity-accounting income statements no longer include Dongfeng-Nissan’s results in revenues and operating profit.
About Nissan Motor Co.
Nissan Motor Co., Ltd., Japan’s second-largest automotive company, is headquartered in Yokohama, Japan, and is part of the Renault-Nissan Alliance. Operating with more than 244,500 employees globally, Nissan sold 5.32 million vehicles and generated revenue of 11.38 trillion yen (USD 103.6 billion) in fiscal year 2014. Nissan delivers a comprehensive range of more than 60 models under the Nissan, Infiniti and Datsun brands. Nissan leads the world in zero-emission mobility, dominated by sales of the LEAF, the first mass-market, pure-electric vehicle. It is the best-selling EV in history with almost 50% share of the zero-emission vehicle segment.