Mitsubishi Motors Corporation announces end of year figures with growth in all major area's

Mitsubishi Motors Corporation Announces Full-year Fiscal 2014 Operating Results and Fiscal 2015 Forecasts

Mitsubishi Motors Corporation (MMC) today announced its sales and financial results for the full 2014 fiscal year (FY2014) ending March 31, 2015, as well as forecasts for the full 2015 fiscal year (FY2015), ending March 31, 2016.

1. Full-year fiscal 2014 operating results

 

1. Performance overview

MMC posted a consolidated net sales of 2180.7 billion yen over the full term of FY2014 (April 1 2014 through March 31, 2015), a 4% or 87.3 billion yen increase over the same period last fiscal year.

 

MMC posted an operating income of 135.9 billion yen, an increase of 10% or 12.5 billion yen over the same period last fiscal year. Although sales and R&D expenses increased along with a decrease in sales volume and model mix, these were overcome by reductions in material and other costs in addition to favorable foreign exchange rates.

 

Other items include ordinary income at 151.6 billion yen, a 17% or 22.1 billion yen increase, and a net income of 118.2 billion yen, a 13% or 13.5 billion yen increase, both year-on-year. All profit areas for FY2014 were all-time record high profits.

 

2. Sales volume (Retail)

Global retail sales volume for the full 2014 fiscal year totaled 1,090,000 units, an increase of 4% or 43,000 units over the same period in FY2013. Sales volumes by regions were as follows.

 

Japan: Sales volume decreased with both registered vehicles and minicars totaling 115,000 units, a year-on-year decrease of 20% or 28,000 units.

 

North America: Sales volume totaled 117,000 units, an increase of 21% or 20,000 units over the same period last year. The increase was driven by brisk sales of the Outlander Sport and Mirage as economic recovery in the United States moved onto a firmer pace

 

Europe: Sales volume totaled 227,000 units, an increase of 13% or 25,000 units year-on-year. Despite worsening economic situation in Russia which affected sales decline from the same period last year, the sales increase of the Outlander PHEV in Western Europe contributed to the overall increase for the region.

 

Asia: Sales volume totaled 344,000 units, which was about the same level as the same period last year. Although recovery in total demand for Thailand remained sluggish, an increase in sales in China, mainly stemming from GAC Mitsubishi Motors Corporation offset this.

 

Other Regions: Sales volume totaled 287,000 units, an increase of 10% or 26,000 units year-on-year. Sales increased in the Middle East, resulting in an overall increase in sales for the region.

 

2. Full-year fiscal 2015 forecasts

 

Full-year FY2015 (April 1, 2015 to March 31, 2016) operating results forecasts are as follows:

 

1. Outline of full-year FY2015 operating forecasts:

Net sales:	2280.0 billion yen, an increase of 5% or 99.3 billion yen year-on-year
Operating income:	125.0 billion yen, a decrease of 8% or 10.9 billion yen year-on-year
Ordinary income:	130.0 billion yen, a decrease of 14% or 21.6 billion yen year-on-year
Net income:*	100.0 billion yen, a decrease of 15% or 18.2 billion yen year-on-year

 

* This item will be changed to "Net income attributable to owners of the Parent" in FY2015

 

2. Sales volume forecast (Retail):

Forecast for full-year FY2015 is 1,100,000 units, a 1% or 10,000 units over FY2014. Breakdown by region is as follows:

 

Japan:	107,000 units, down 7% or 8,000 units year-on-year
North America:	128,000 units, up 9% or 11,000 units year-on-year
Europe:	191,000 units, down 16% or 36,000 units year-on-year
Asia:	378,000 units, up 10% or 34,000 units year-on-year
Other regions:	296,000 units, up 3% or 9,000 units year-on-year

 

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: Feasibility of each target and initiative as laid out in this news release; Fluctuations in interest rates, exchange rates and oil prices; Changes in laws, regulations and government policies; and Regional and/or global socioeconomic changes. 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.