Yamaha - Q1 2022 Results
Yamaha has announced Q1 (January - March 2022) net sales of 315.4bn yen in its 'Land Mobility Business' division, which includes motorcycles (+25.0bn yen/+ 8.6% compared with Q1, 2021) with operating income of 12.2bn yen (-7.7bn yen/-38.9%).
"For the motorcycle business, demand is trending towards recovery thanks to measures to stem COVID-19 infections and the easing of restrictions seen in each country. Higher unit sales in Indonesia, Brazil, Europe, and other markets led to higher net sales for the business.
"However, profits declined not only due to soaring raw material prices but also from procurement delays for semiconductors and other parts, which led to an insufficient supply of our premium segment models that adversely affected the model mix.
The TY-E 2.0 trials bike was
among a slew of electrification announcements from Yamaha already this
year, as the company finally starts to gear itself up for an "alternate
power platform" future.
"With recreational vehicles (all-terrain vehicles, ROVs, and snowmobiles), unit sales of the Wolverine RMAX model series were strong but rising raw material prices and spiking labour expenses impacted figures and resulted in higher net sales but lower profits.
"In the electrically power-assisted bicycles business, tightening supplies of semiconductors and electronic components led to insufficient supply of e-Kit parts for Europe, and after recording provisions for product warranties triggered by a battery recall, the business posted lower sales and profits overall".
At the corporate level net sales were 481.7bn yen (+37.6bn yen/+ 8.5%) with operating income of 40.1bn yen (-8.2bn yen/-16.9%). Ordinary income was 45.7bn yen (- 7.1bn yen/-13.5%).
"Recoveries from the effects of the COVID-19 pandemic led to strong sales of outboard motors in developed markets and healthy sales of motorcycles in emerging markets such as Indonesia, and this resulted in higher consolidated net sales. However, operating income declined due to the soaring prices for aluminum, iron, and other raw materials and the impact of rising logistics costs caused by a shortage of shipping containers bound for the United States, among other factors."
Net sales in Yamaha's Marine Products Business were 108.7bn yen (+ 11.2bn yen/11.4%) with operating income of 20.4bn yen (+1.0bn yen/+5.4%), while Robotics net sales were 26.2bn yen (-0.9bn yen/-3.2%) with operating income of 3.7bn yen (+0.6bn yen/+19.7%).
