NISSAN SAYS: Nissan Motor Co., Ltd., Tuesday announced financial results for the third quarter of fiscal year 2009, ending March 31, 2010, as well as for the first nine months. In the third quarter, the consolidated net income after taxes totalled 45 billion yen (US $480 million, euro 340 million). The better-than-expected results were due mainly to additional sales volumes driven by scrapping incentives in major markets, sales volume growth in China and the effective execution of countermeasures put in place following the global financial and economic crisis.
Net revenues were 1.9962 trillion yen (US $21.33 billion, euro 15.01 billion), increased by 9.9% compared with a year ago. Operating profit was 134.1 billion yen (US $1.43 billion, euro 1.01 billion), and the operating profit margin came to 6.7%. Ordinary profit was 112.7 billion yen (US $1.20 billion, euro 850 million).
Net revenues were 1.9962 trillion yen (US $21.33 billion, euro 15.01 billion), increased by 9.9% compared with a year ago. Operating profit was 134.1 billion yen (US $1.43 billion, euro 1.01 billion), and the operating profit margin came to 6.7%. Ordinary profit was 112.7 billion yen (US $1.20 billion, euro 850 million).
“Our performance in the third quarter of fiscal 2009 is encouraging, demonstrating that our countermeasures are working,” said Nissan President and CEO Carlos Ghosn. “Despite these positive quarterly results, we believe that conditions in the global economy are still volatile and uncertain, so our outlook will remain cautious until we see clear evidence that economic recovery can be sustained in world markets.”
Nissan sold 882,000 vehicles worldwide in the October-to-December 2009 period, a 20.6% increase over the same period in fiscal year 2008.
In the April-to-December 2009 period, net income after tax totaled 54 billion yen (US $580 million, euro 410 million), up 25% compared with the previous year. Net revenue fell 19.5% to 5.3796 trillion yen (US $57.47 billion, euro 40.45 billion). Operating profit totaled 228.9 billion yen (US $2.45 billion, euro 1.72 billion), an increase of 147.6%. Operating profit margin came to 4.3%. Ordinary profit amounted to 145.9 billion yen (US $1.56 billion, euro 1.1 billion), up 62%.
Globally, Nissan sold 2,505,000 vehicles in the first nine months of the fiscal year, down 4.8% compared with the same period last year.
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