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Nissan Q3 Boosted by North America, W.Europe

Yokohama – Feb. 10 – Nissan Motor announced Wednesday financial results for the 9-month period ending December 31 that showed net income of 452.8 billion yen, up 33.7%, as strong demand in North America and Western Europe offset weakness in several emerging markets.

Operating profit rose to 587.5 billion yen, representing a 6.6% margin on net revenues that rose 10.6% to 8.94 trillion yen.

“Our product offensive has reaped rewards in North America and Western Europe, where buoyant consumer demand and rising unit sales underpinned Nissan’s overall profit-growth,” said Carlos Ghosn, president and chief executive officer.

“Our strong performance in these markets offset the impact of unfavorable exchange-rates from emerging markets and challenging market conditions elsewhere in the world.”

On a management pro forma basis, which includes the proportionate consolidation of results from Nissan’s joint venture operation in China, net revenues in the period increased to 9.72 trillion yen, up 10.5% year-on-year. Operating profit was up 32.1% versus the same period last year, to 682.6 billion yen, resulting in a 7.0% operating profit margin.

On a global basis, Nissan sold 3.89 million vehicles in the period, a 1.4% rise year-on-year.

“Nissan remains on track to achieve its full year financial forecast, reflecting encouraging sales trends in the U.S. and parts of Europe, along with the continued benefits of our cost-discipline and Alliance strategy,” said Ghosn

To watch the earnings briefing in English, please click here.

Results for nine months to December 31, 2015
(TSE report basis – China JV equity basis)1
FY2015 9 months
(Apr.-Dec. 2015)
Y-O-Y
Net revenue ¥8.94 trillion
($73.5 billion/€66.5 billion)
+10.6%
Operating profit ¥587.5 billion
($4.8 billion/€4.4 billion)
+40.6%
Ordinary profit ¥631.0 billion
($5.2 billion/€4.7 billion)
+27.1%
Net income2 ¥452.8 billion
($3.7 billion/€3.4 billion)
+33.7%
Based on average foreign exchange rates of JPY 121.7/USD and JPY 134.4/EUR

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