February 8, 2012
NISSAN OPERATING PROFIT AT 118.1 BILLION YEN
IN FY2011 THIRD QUARTER
- Full Year Forecast Remains Unchanged -
YOKOHAMA, Japan (February 8, 2012) - Nissan Motor Co., Ltd., today announced financial results for the third quarter of fiscal year 2011, ending March 31, 2012, as well as for the first nine months. In the third quarter (October-December 2011), Nissan reported an operating profit of 118.1 billion yen (US$1.53 billion, euro 1.13 billion) up 3.6% compared to the same period in FY2010, and an operating profit margin of 5.1%.
Third quarter net revenue was 2.331 trillion yen (US$30.12 billion, euro 22.35 billion), up 10.9% year-on-year. Ordinary profit reached 121.5 billion yen (US$1.57 billion, euro 1.16 billion) and net income rose 3.2% to 82.7 billion yen (US$1.07 billion, euro 790 million).
"Significant external headwinds such as the abnormally strong yen and floods in Thailand challenged us during the third quarter," said Nissan President and CEO Carlos Ghosn. "Nissan responded decisively to these challenges, boosted by the strength of our product, our global team and the execution of the Nissan Power 88 mid-term plan; I am confident that Nissan will deliver the full-year profitability targets."
Nissan sold 1.205 million vehicles worldwide in the October-December quarter, an increase of 19.5% compared to the prior year.
For the nine months ending December 31st, 2011, Nissan reported consolidated net revenues of 6.6984 trillion yen (US$84.79 billion, euro 60.56 billion) and an operating profit of 427.8 billion yen (US$5.42 billion, euro 3.87 billion), for an operating margin of 6.4%. Net income totaled 266.1 billion yen (US$3.37 billion, euro 2.41 billion). For the April-December 2011 period, Nissan sales increased to 3.429 million units, up 13.6% year-on-year.
During the third quarter, the company continued to progress its rollout of the zero-emission Nissan LEAF. For the calendar year 2011, Nissan sold over 22,000 LEAFs worldwide, making it the best-selling electric vehicle ever. Nissan plans to expand the availability of the LEAF to more European markets in 2012, and all 50 states in the U.S.
Nissan's forecast for the full fiscal year ending March 31, 2012, is unchanged, with an operating profit outlook of 510 billion yen (US $6.38 billion, euro 4.56 billion) and net income of 290 billion yen (US $3.63 billion, euro 2.59 billion).