Published on November 3rd, 2015 | by Daniel Sherman Fernandez0
Nissan reports 2.4 billion Euro net income for FY2015
Nissan reported sharply increased operating profit and solid revenue growth. Strong demand for new products in North America and Western Europe, combined with the benefits of continued cost discipline and the yen correction against the US dollar, offset declining market conditions in Japan and several emerging markets.
|Results for six months to September 30, 2015|
(TSE report basis – China JV equity basis)1
|FY2015 FIRST HALF||Y-O-Y|
|Net revenue||¥5.93 trillion|
($48.7 billion/€43.9 billion)
|Operating profit||¥395 billion|
($3.2 billion/€2.9 billion)
|Ordinary profit||¥427.7 billion|
($3.5 billion/€3.2 billion)
|Net income2||¥325.6 billion|
($2.7 billion/€2.4 billion)
|Based on average foreign exchange rates of JPY 121.9/USD and JPY 135.1/EUR|
On a management pro forma basis, which includes the proportional consolidation of results from Nissan’s joint venture operation in China, net revenue for the period increased to 6.45 trillion yen, up 14.4% year-on-year. Operating profit was up 38.8% versus the same period last year, to 461.6 billion yen, resulting in a 7.2% operating profit margin. Nissan sold 2.62 million vehicles globally during the period, a 1.3% rise year-on-year.
The sales and earnings improvement followed strong growth in North America, particularly for the Altima sedan and Rogue SUV, and encouraging demand in Western Europe for models including the X-Trail and Qashqai. In China, nine-month passenger vehicle unit sales rose by 9.5% to 722,000 units. Despite slower demand in Japan and several emerging markets, the company continued to benefit from robust overall sales of award-winning models derived from the Common Module Family, developed within the Renault-Nissan Alliance.
Nissan also remained the world-leader in electric vehicles, with cumulative sales approaching 200,000 units. As part of its zero-emission strategy, the company announced in September that its best-selling all-electric Nissan LEAF will be available with a new, larger 30 kWh battery that delivers a more-than-20-percent-longer driving range between charges.