Mitsubishi Motors Corporation (MMC) has announced its full-year financial results for Fiscal Year 2018 ended March 31, 2019 and issued its initial forecast for Fiscal Year 2019 ending March 31, 2020.
In FY2018, net sales increased by 14.7% year on year to ¥2,514.6 billion and operating profit increased to ¥111.8 billion from ¥98.2 billion in the previous fiscal year, representing an operating margin of 4.4%.
Global sales volume for FY2018 totalled 1,244,000 units, an increase of 13% from the prior fiscal year. In the ASEAN region, sales of the Mitsubishi XPANDERMPV increased 17% to 318,000 units from the previous fiscal year, with growing sales from the launch market of Indonesia to the Philippines, Thailand and Vietnam.
In Japan, sales of the Mitsubishi Eclipse Cross, Outlander PHEV and Delica D:5 models helped lift volumes by 7% to 105,000 units, maintaining a recovery trend in demand for Mitsubishi vehicles. In addition, at the end of FY2018, MMC launched the new Kei-car, eK Wagon and eK Cross to the Japanese domestic market. Sales volumes increased year-on-year in all regions including Oceania and the focus markets of North America and China along with other important territories. This resulted in MMC achieving the full-year forecast for unit sales announced at the beginning of FY2018.
Looking ahead, MMC forecasts that global sales in Fiscal Year 2019 are expected to increase by 5% year-on-year to 1,305,000 units. The company aims to achieve sustainable growth by optimizing sales efficiency through enhanced brand value and strengthening of its sales networks. MMC also intends to further increase sales of the Mitsubishi XPANDER, which achieved favourable recognition and by growing sales volumes of the Mitsubishi Outlander PHEV and Mitsubishi Eclipse Cross models which reflect the company’s strengths in the SUV market.
MMC’s financial forecast for Fiscal Year 2019 is as follows:
Net sales are projected to rise 3% year-on-year to ¥2,580.0 billion.
The company continues to focus on securing sustainable earnings in an increasingly uncertain market environment and aims to achieve operating profit of ¥90.0 billion and net profit of ¥65.0 billion.
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SOURCE: Mitsubishi Motors