Yamaha: Q1 net sales revenue +3.7%; unit sales down in Europe
Reporting that earnings were “up solidly in the first quarter” and that profits rose “in all major product categories”, net sales for Yamaha Motor Co., Ltd.'s consolidated accounting period for the first quarter of the fiscal year ending December 31, 2018 [the quarter ending March 31st 2018] were 405.6 billion yen, (an increase of 19.5 billion yen or +5.1% compared with the same period the previous fiscal year), and operating income was 41.2 billion yen (an increase of 3.9 billion yen or 10.5%).
Profitability improvements continued in the emerging markets motorcycle, marine and industrial machinery and robots businesses, absorbing the effect of the appreciating yen, and leading to increased sales and income.
In motorcycle terms, net sales were 241.2 billion yen (an increase of 8.7 billion yen or +3.7% compared with the same period the previous fiscal year), and operating income was 14.5 billion yen (an increase of 0.6 billion yen or +4.3%).
Unit sales in developed markets decreased due to factors such as a decline in total demand and irregular weather in Europe. Unit sales in emerging markets such as Indonesia, the Philippines and Brazil increased, but decreased in the Vietnamese market etc.
Net sales decreased in developed markets due to an appreciation of the yen and lower unit sales, whereas net sales increased in emerging markets thanks to increases in unit sales. In terms of operating income, high profitability was maintained in the ASEAN region, helping to increase income, but, due to decreased income in developed markets etc., operating income overall was on par with the same period the previous fiscal year.
No changes have been made to the anticipated consolidated business results for the fiscal year ending December 31, 2018, with sales forecast to reach 1,700.0 billion yen in net sales.