TOKYO – Nissan Motor Co., Ltd., today announced financial results for the third quarter of fiscal year 2007, ending March 31, 2008, as well as for the first nine months. In the third quarter, consolidated net income after tax came to 132.2 billion yen (US $1.13 billion, euro 0.81 billion), up 26.6% compared with the same period a year ago. The improvement in net income reflects the success of recent product introductions, strong sales in the General Overseas Markets (GOM) and a favorable tax position.
Net revenue rose 18.2% to 2.7701 trillion yen (US $23.60 billion, euro 17.01 billion). Nissan’s operating profit totaled 211.9 billion yen (US $1.81 billion, euro 1.30 billion), up 15.8%. The operating profit margin came to 7.7%. Ordinary profit amounted to 201.6 billion yen (US $1.72 billion, euro 1.24 billion), up 13.8%.
“Despite the headwinds that affect our industry, Nissan has benefited from the success of the new products launched during the past 12 months,” said Nissan President and CEO, Carlos Ghosn. “Although the market outlook remains volatile for the coming months, Nissan is focused and on track to deliver our full year objectives,” continued Ghosn.
Nissan sold a total of 898,000 vehicles worldwide in the October-to-December 2007 period, up 13.0%.
In the April-to-December 2007 period, net income after tax totaled 344.6 billion yen (US $2.94 billion, euro 2.12 billion), down 9.0% compared with the previous year.
Net revenue rose 13.9% to 7.8346 trillion yen (US $66.73 billion, euro 48.10 billion). Operating profit totaled 579.1 billion yen (US $4.93 billion, euro 3.56 billion), up 8.9%. Operating profit margin came to 7.4%. Ordinary profit amounted to 561.9 billion yen (US $4.79 billion, euro 3.45 billion), up 4.4%.
Globally, Nissan sold a total of 2,714,000 vehicles in the first nine months, up 8.4% compared with last year.
In the first nine months of 2007, Nissan has launched nine all-new models: Livina, X-Trail, Altima coupe, Atlas F24, Aprio, Infiniti G37 coupe, Rogue, GT-R and Infiniti EX. During the fourth quarter of 2007, two more products are being introduced: the Murano and Frontier Navara Single Cab pickup.
Nissan’s forecast for the full fiscal year is unchanged at an operating profit of 800 billion yen (US $6.84 billion, euro 5.41 billion) and net income of 480 billion yen (US $4.10 billion, euro 3.24 billion).
Notes: Amounts in dollars and euros are translated for the convenience of the reader at the foreign exchange rates of 117.4 yen/dollar and 162.9 yen/euro, the average rates for the first nine months of the fiscal year ending March 31, 2008.
# # #