Nissan Motor Co., Ltd. announced financial results for the 12 months to March 31, 2015.
The company delivered solid full-year revenues and profits. Robust demand, especially for new products in North America and Western Europe, along with cost efficiencies and the continued correction in the yen-dollar exchange rate, offset challenging market conditions in Japan and several emerging markets.
Operating profit rose to 589.6 billion yen for fiscal year 2014, representing a 5.2% margin on net revenues that reached 11.38 trillion yen for the period.
In the fourth quarter, operating profits were 171.6 billion yen; net income reached 118.8 billion yen; and revenues increased by 2.6% to 3.29 trillion yen.
On a management pro-forma basis, which includes proportional consolidation of results from Nissan’s joint venture operation in China, fiscal year 2014 net revenues increased to 12.41 trillion yen, up 8.5% year-on-year. Pro-forma operating profit rose by 18.6% to 718.6 billion yen compared with fiscal year 2013. This resulted in a 5.8% operating profit margin.
“These are solid results in a highly competitive market-place,” said Carlos Ghosn, president and chief executive officer. “We have been encouraged by demand for our new products. In the year ahead, we will remain focused on delivering continued revenue and profit growth, driven by our product and technology offensive, cost and sales discipline, and growing synergies from the Renault-Nissan Alliance. These actions will ensure we remain on the right path towards our mid-term strategic goals.”
For fiscal year 2015, Nissan expects to sell 5.55 million units, up 4.4% and equivalent to a global market share of 6.5%. New models, including the Nissan Maxima, Lannia and Infiniti Q30, are expected to contribute to fiscal year 2015 sales growth.