Mitsubishi Motors Reports Full Year Financial Results for FY2018 and Issues FY2019 Guidance
TOKYO, May, 09 2019 - (JCN Newswire) - Mitsubishi Motors Corporation (MMC) has announced full-year financial results for Fiscal Year 2018 ended March 31, 2019, and issued its initial forecast for Fiscal Year 2019 ending March 31, 2020.
Summary of Financial Results for FY2018
In FY2018, net sales increased by 14.7% year on year to JPY2,514.6 billion, and operating profit increased to JPY111.8 billion from JPY98.2 billion in the previous fiscal year, representing an operating margin of 4.4%.
\Global Sales Performance
Global sales volume for FY2018 totaled 1,244,000 units, an increase of 13% from the prior fiscal year.
In the ASEAN region, sales of XPANDER MPV increased 17% to 318,000 units from the previous fiscal year, with sales expanding from the launch market of Indonesia to the Philippines, Thailand, and Vietnam.
In Japan, sales of Eclipse Cross, Outlander PHEV and Delica D:5 helped lift volumes by 7% to 105,000 units, maintaining a recovery trend in demand for Mitsubishi models. In addition, at the end of FY2018, we launched the new Kei-car, eK Wagon and eK Cross.
Sales volumes increased year-on-year in all regions, including our Bed-rock market, Oceania and our Focus markets, North America and China, as well as other territories. Thus, we have largely achieved the full-year forecast for unit sales announced at the beginning of FY2018.
FY2019 Consolidated Financial Forecasts
MMC forecasts that global sales in Fiscal Year 2019 are expected to increase by 5% year-on-year to 1,305,000 units.
The company aims to achieve sustainable growth by optimizing sales efficiency through enhanced brand value and strengthening of its sales networks. MMC also intends to further expanding sales of XPANDER, which has won favorable recognition, and to increasing sales volume of Outlander PHEV and Eclipse Cross, reflecting the company's strengths.
MMC's financial forecast for Fiscal Year 2019 is as follows:
Net sales are projected to rise 3% year-on-year to JPY2,580.0 billion.
The company continues to focus on securing sustainable earnings in an increasingly uncertain market environment, and aims to achieve operating profit of JPY90.0 billion and net profit of JPY65.0 billion.
About Mitsubishi Motors
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 electric vehicles. Since the Mitsubishi group produced its first car more than a century ago, we have demonstrated an ambitious and often disruptive approach, developing new vehicle genres and pioneering cutting-edge technologies. Deeply rooted in MITSUBISHI MOTORS' DNA, our brand strategy will appeal to ambitious drivers, willing to challenge conventional wisdom and ready to embrace change. Consistent with this mindset, MITSUBISHI MOTORS introduced its new brand strategy in 2017, expressed in its "Drive your Ambition" tagline -- a combination of personal drive and forward attitude, and a reflection of the constant dialogue between the brand and its customers. Today MITSUBISHI MOTORS is committed to continuous investment in innovative new technologies, attractive design and product development, bringing exciting and authentic new vehicles to customers around the world.
Public Relations Department
Source: Mitsubishi Motors
Copyright ©2019 JCN Newswire. All rights reserved. A division of Japan Corporate News Network.