Suzuki - Financial Results for FY2021
For the period from April 2021 to March 2022 Suzuki reported an increase in net sales but a reduction in operating profit - citing raw material prices as the cause.
In its motorcycle business net sales increased by 8.7bn yen (14.1%) to 69.8bn yen year on year, mainly owing to expanded sales of higher range models such as the new Hayabusa. However, operating profit decreased by 2.3bn yen (59.5%) to 1.7bn year on year, mainly owing that increase in raw material prices.
In total group unit sales terms, Suzuki reports sales of 1.634m motorcycles and ATVs (of which 15,000 were ATV units), 100,000 units up over 2020/2021 (+6.5%).
Sales in Europe were -27.1% at 28,000 units, down from 39,000 for the year ago period. North America was -37.7% at 29,000 units, down from 46,000.
Asian sales were +8.1% at 1.324m units, with India the company's largest market at 610,000 units (+9.5%), followed by China at 403,000 (+7.8%). The company's strongest growth in Asia came in the Philippines where they were +17.9% (161,000 units), but it had an awful year in Indonesia, where sales were off by -31% at just 18,000 units.
Suzuki's domestic Japanese sales were +4.6% at 53,000 units. Total consolidated global motorcycle sales revenue was 253.5bn yen on consolidated global unit sales of 1.292m units.
