Nissan reports first half FY12 financial results

November 06, 2012

Nissan reports first half FY12 financial results

6.11.12

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Nissan Motor Co., Ltd. has announced financial results for the first half of the fiscal year ending March 31, 2013, as well earnings for the second quarter FY12. For the six-month period to September 30, Nissan achieved consolidated net revenues of 4.5468-trillion
yen (US$ 57.26-billion, 45.24-billion euros), an increase of 4.1 per cent over the same period in FY11.

In the first half, Nissan delivered operating profit of 287 billion yen (US$ 3.61-billion, 2.86-billion euros), resulting in an operating profit margin of 6.3 per cent. Net income was 178.3-billion yen (US$ 2.25-billion, 1.77-billion euros), a decrease of 2.8 per cent compared to FY11. Ordinary profit was 275.6-billion yen (US$ 3.47-billion, 2.74-billion euros) for the six month period. These results were achieved against a backdrop of unfavorable currency movements, deteriorating market conditions in Europe and signs of slowing growth in China.

In the first half, Nissan sold 2.476-million vehicles worldwide, up 11.3 per cent compared with the same period of last year - out-performing overall industry volumes that increased by 7.4 per cent.

"Nissan has achieved positive results in a challenging operating environment impacted by the continued appreciation of the Yen and particularly difficult economic conditions in Europe," said Nissan President and CEO Carlos Ghosn. "Despite these near-term challenges, Nissan has responded decisively and remains on course to deliver profitable growth in its full-year performance."

For the second quarter (July-to-September) of FY12, Nissan's net income was 106-billion yen (US$ 1.35-billion, 1.08-billion euros), an increase of 7.7 per cent year-on-year. Net revenues were 2.4104-trillion yen (US$ 30.67-billion, 24.52-billion euros), up 5.5 per cent compared to last year. Operating profit was 166.4-billion yen (US$ 2.12-billion, 1.69-billion euros), rising 4.4 per cent year-on-year to result in an operating profit margin of 6.9 per cent. Ordinary profit was 164.1-billion yen (US$ 2.09-billion, 1.67-billion euros).