Dubai PR Network, Online Press Release from Dubai and Middle East
 
Automobile & Motoring(Automobile)
Filter PR by
  
Nissan Reports First Quarter Results for Fiscal Year 2017
 
  • Nissan reports financial results in line with company expectations despite rising raw material costs, adverse foreign exchange impacts, and slower than anticipated growth in key markets.
  • Sales in Japan up 45.6%, US sales up more than total industry volume at 1.2%, sales in China up 5.3%, sales in Europe up 1.1%, and sales in other markets, including Asia and Oceania, Latin America, the Middle East and Africa up 1.2%.
Dubai, UAE, 27 July, 2017:  Nissan Motor Co., Ltd. today announced first quarter financial results for the three months to June 30, 2017. 
 
Nissan generated an operating profit of 153.3 billion yen on net revenues of 2.76 trillion yen. Overall, results were in line with the company’s expectations for the first quarter and the company expects improved profitability for the remainder of the year driven by its product cadence.
 
Fiscal Year 2017 First Quarter Financial Highlights
 
The following table summarizes Nissan’s financial results for the three-month period to June 30, 2017, calculated under the equity accounting method for the Group’s China joint venture. Operating profits declined 12.8% compared to the prior year primarily due to the conditional change resulting from the divestiture of Calsonic Kansei, rising raw material costs, and adverse foreign exchange impacts. Net income was down 1.1%.
 
First Quarter FY17
(TSE report basis – China JV equity basis)1
Yen in billions First Quarter
FY16
First Quarter
FY17
% change
year on year
Revenues 2,654.5 2,760.4 +4.0
Operating profit 175.8 153.3 -12.8
Operating margin % 6.6 5.6 -1.0
Ordinary profit 198.2 189.6 -4.4
Net income2 136.4 134.9 -1.1
 
On a management pro forma basis, which includes the proportionate consolidation of results from Nissan’s joint venture operation in China, operating profit was 185.7 billion yen on net revenues of 3.03 trillion yen, representing a margin of 6.1%.
 
Sales performance
For the first quarter, Nissan total unit sales were 1.351 million units, an increase of 5%. Sales in Japan continued to improve following the resumption of Kei car sales and encouraging strong demand for registered vehicles, including models such as the Note e-POWER and the Serena with ProPILOT autonomous drive technology. Nissan saw unit sales rise by 45.6% to 131,000 units, resulting in a market share improvement of 2.6 points to 10.9%.
 
In the U.S., Nissan’s sales increased 1.2% to 403,000, equivalent to a market share increase of 0.4 points to 9.1%, amid continued demand for SUVs including the Rogue and recently launched Rogue Sport.
 
Nissan unit sales in China, which reports figures on a calendar year basis, increased 5.3% to 314,000 units. The market share in China was flat at 4.7% for the quarter.
 
In Europe, including Russia, Nissan’s sales totaled 185,000 units, an increase of 1.1%. Excluding Russia, Nissan’s sales decreased 0.2% to 162,000 units due primarily to planned model changeovers. Nissan’s market share in Europe was flat at 3.6%.
 
In other markets, including Asia and Oceania, Latin America, the Middle East and Africa, Nissan’s sales increased 1.2% to 188,000 units despite volatile demand in some markets.
 
Outlook
As previously stated this past May, the company expects to sell 5.83 million units in fiscal 2017 as models such as the Rogue Sport, refreshed Qashqai and X-Trail, Kicks, Navara, and the all-new Nissan LEAF are expected to contribute to sales growth for the year as a whole.
 
Given this outlook, the company has maintained its fiscal-year forecasts. Calculated under the equity accounting method for Nissan’s joint venture in China, the forecasts for the fiscal year ending March 31, 2018 remain:
 
Nissan FY17 Outlook – TSE report basis – China JV equity basis1
Net revenue ¥11.8 trillion
Operating profit ¥685 billion
Net income2 ¥535 billion
 
Nissan also continues to forecast a 10.4% increase in the dividend to 53 yen per share for fiscal year 2017.
 
1Since 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. 
2Net income attributable to owners of the parent

Posted by : Dubai PR Network Editorial Team
Viewed 8278 times
PR Category : Automobile
Posted on : Thursday, July 27, 2017  5:12:00 PM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of DubaiPRNetwork.com.
Previous Story : SAIC Motor achieves highest ever ranking on the Fortune 500 ...
Next Story : Al-Futtaim Motors ushers low-carbon mobility through commerc...
Email this article Print this article

Share this article with your friends and followers
NewsVine
Back to Section Home

Related Stories



 
 
Most Viewed Press Release posted in the last 7 days
New Must-Have Beauty Products from GOSH this October [21240-Views]
Four UAE Designers Take Home LG Signage Design Award [12688-Views]
Huawei unveils the long-awaited HUAWEI Mate 10 and HUAWEI Mate 10 Pro [11535-Views]
LPG Endermologie Offers A Chronobiological Slimming Gel [11169-Views]
Level Shoes Hosts Christian Louboutin for “Dear India” [8705-Views]
ICONIC Youth Fashion Show Experience [8028-Views]
Glamazle.com introduces Super Matte ‘Glambry' lip tints for the perfect pout [7930-Views]
Diamonds Are Everyone's Best Friend! VOD Dubai International Jewellery Show 2017 Makes Its... [7357-Views]
The Graham Chronofighter Vintage GMT is the tough guys' ticket to time travel [7204-Views]
SCTDA ‘My Destination' Program Kicked Off with SUC Students [6930-Views]
The Rado True Shadow - Limited edition timepiece co-created with Japanese designer Kunihik... [6527-Views]
The Lacoste 12.12 Kids Collection [6509-Views]
Beauty Night Is Back at Sheraton Dubai Creek [6460-Views]
Reinventing Raymond Weil's Emblematic Chronograph - The Refined Swiss Watchmaking Expertis... [6429-Views]
Moving on Up! Saudi Arabia to Underline Status as Regional Food Manufacturing Force at Gul... [6271-Views]
MICHAEL Michael Kors: Fall 2017 Sadie Large Leather Satchel [6216-Views]
PUMA X Photographer Gunner Stahl For Autumn/Winter 2017 [6167-Views]
Dubai Chamber concludes high-level trade mission to Malta [5923-Views]
GUESS Launches Stunning Array of Collections for Fall17 [5905-Views]
Coffee at the touch of a button with ‘Quespresso' [5826-Views]
Introducing FitFuse by COÉGA Sunwear [5624-Views]
Ali & Sons Audi unveils all new Q5 and SQ5 in Abu Dhabi and Al Ain [5545-Views]
Regional Storytelling Takes Centre Stage at DIFF With Muhr Feature Category [5484-Views]
Humaid Mohammed Al Qatami, Director General, Dubai Health Authority Officially Opens Visio... [5380-Views]
Renault KOLEOS achieves five-star Euro NCAP rating [5368-Views]
 
RSS Facebook Twitter LinkedDin
 
Top Sections
 
Top Stories