Mitsubishi Motors Reports Full Year Financial Results for FY2018 and Issues FY2019 Guidance
TOKYO, May, 09 2019; Mitsubishi Motors Corporation (MMC) has announced 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.
Summary of Financial Results for FY2018
In FY2018, net sales increased by 14.7% year on year to JPY2,514.6 billion, and operating profit increased to JPY111.8 billion from JPY98.2 billion in the previous fiscal year, representing an operating margin of 4.4%.
\Global Sales Performance
Global sales volume for FY2018 totaled 1,244,000 units, an increase of 13% from the prior fiscal year.
In the ASEAN region, sales of XPANDER MPV increased 17% to 318,000 units from the previous fiscal year, with sales expanding from the launch market of Indonesia to the Philippines, Thailand, and Vietnam.
In Japan, sales of Eclipse Cross, Outlander PHEV and Delica D:5 helped lift volumes by 7% to 105,000 units, maintaining a recovery trend in demand for Mitsubishi models. In addition, at the end of FY2018, we launched the new Kei-car, eK Wagon and eK Cross.
Sales volumes increased year-on-year in all regions, including our Bed-rock market, Oceania and our Focus markets, North America and China, as well as other territories. Thus, we have largely achieved the full-year forecast for unit sales announced at the beginning of FY2018.
FY2019 Consolidated Financial Forecasts
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 expanding sales of XPANDER, which has won favorable recognition, and to increasing sales volume of Outlander PHEV and Eclipse Cross, reflecting the company's strengths.
MMC's financial forecast for Fiscal Year 2019 is as follows:
Net sales are projected to rise 3% year-on-year to JPY2,580.0 billion.
The company continues to focus on securing sustainable earnings in an increasingly uncertain market environment, and aims to achieve operating profit of JPY90.0 billion and net profit of JPY65.0 billion.
About Mitsubishi Motors Mitsubishi Motors Corporation is a global automobile company based in Tokyo, Japan, which has a competitive edge in SUVs and pickup trucks, electric and plug-in hybrid vehicles. The company launched the i-MiEV - the first mass-produced electric vehicle in 2009, which was followed by the OUTLANDER PHEV in 2013 - a plug-in hybrid market leader in Japan and Europe. Mitsubishi Motors has 30,000 employees and a global footprint with production facilities in Japan, Thailand, China, Indonesia, Philippines and Russia. Models, such as the PAJERO SPORT/MONTERO SPORT, TRITON/L200 and OUTLANDER play a major role in achieving its growth. The global sales volume in fiscal year 2017 was 1,101,000 units, and the net sales of Mitsubishi Motors for fiscal year 2017 was 2.19 trillion yen. Mitsubishi Motors is listed on the Tokyo Stock Exchange.