Nissan Motor Company profits stand at $6.8 billion for Financial Year 2011
Nissan Motor Company announced their financial results for the year April 1, 2011 to March 31, 2012. It could be seen from these results that the company did exceedingly well during the past year. Net revenues stood at ¥9.409 billion while operating profits were ¥545.8 billion. Ordinary profits were ¥535.1 billion and net income stood at ¥341.4 billion.
During the past year, Nissan sales reached 4.845 million units in global markets while unit sales of Nissan vehicles rose 15.8% as compared to previous year’s figures of 4.185 units and the company’s share in global markets went up by 0.6%.
These figures are astounding considering the difficulties the company faced during the last year’s earthquakes that rocked Japan besides the overvalued Yen and depressing economic conditions. Production operations were hampered and this had an effect on timely deliveries and sales across the globe. In fiscal year 2011 Nissan Motor Company launched 5 new models. Tiida in China, Lafesta Highway Star in Japan, front and rear drive versions of NV400 van in Europe and the Infinity JX in the US. Besides this it was Nissan LEAF that saw most success in global markets as the most sought after electric vehicle.
Auto News Release
NISSAN POSTS OPERATING PROFIT OF 545.8 BILLION YEN FOR FY11
– Year of record global sales; new mid-term growth plan started; Nissan LEAF becomes world’s best selling electric car –
Nissan Motor Co., Ltd., today announced financial results for the 12-month period ending March 31, 2012, and filed the following results with the Tokyo Stock Exchange:
· Net revenues of 9.409 trillion yen (US $118.95 billion, euro 86.32 billion);
· Operating profit of 545.8 billion yen (US $6.90 billion, euro 5.01 billion);
· Ordinary profit of 535.1 billion yen (US $6.76 billion, euro 4.91 billion); and
· Net income of 341.4 billion yen (US $4.32 billion, euro 3.13 billion).
In fiscal year 2011, Nissan’s global sales reached a record-high of 4.845 million units as demand for its vehicles outperformed the total auto industry. Unit sales of Nissan vehicles rose 15.8% from last year’s 4.185 million units, while total industry volumes increased 4.2% from 72.6 million units in fiscal 2010 to 75.7 million. Nissan’s share of the global market rose 0.6 points to 6.4%.
Carlos Ghosn, Nissan President and Chief Executive Officer, said: “Nissan has delivered robust operating profits and record sales amid growing demand for our models, brands and technologies around the world. It is an even more encouraging performance given the headwinds created by natural disasters, an over-valued Yen and uncertain global economic conditions.”
Nissan recovered quickly from a series of challenges, notably the Great East Japan earthquake of March 2011, to maintain its product launch schedule and market expansion strategy. The company released five new models globally in fiscal 2011: the Tiida in China, the Lafesta Highway Star in Japan, front-drive and rear-drive versions of the NV400 commercial van in Europe and the Infiniti JX in the United States.
In the period, additional milestones were achieved such as the Nissan LEAF becoming the world’s most successful electric vehicle and the extension of partnerships with other automakers including Daimler and Mitsubishi.
In global markets, the company reported significant growth. Unit sales in China, Nissan’s largest single market worldwide, rose 21.9% to 1,247,000 vehicles. In the United States, sales were up 11.8% to 1,080,000 units. Across Europe including Russia, sales were 713,000 units, up 17.5%. In Japan, sales increased by 9.2% to 655,000 units. Other markets totalled 826,000 units, up 16.4%.
“We have begun to deliver on the comprehensive Nissan Power 88 plan that we unveiled last year,” added Ghosn. “Our financial performance, product launches and market penetration over the past 12 months demonstrate our progress towards sustainable operating margins of 8% and 8% global market share.”
The global sales forecast for fiscal year 2012 is 5.35 million units, an increase of 10.4% and another record year. Nissan will launch 10 all-new products globally including the Altima, Pathfinder, Sylphy/Sentra, NV350 Caravan and a long wheelbase version of the Infiniti M hybrid sedan.