Mazda Reports Strong First-Half Results, increases Full-Year Outlook

.November 10, 2004
.
This Week:

© 1998 - 2004 Copyright &
Disclaimer
Automotive Intelligence,
www.autointell.com
All Rights Reserved .
For questions please contact
editor@autointell.net

.
Mazda Reports Strong First-Half Results, increases Full-Year Outlook

Management team commits to mid-term plan; will maintain 'Mazda Momentum'
First-half consolidated operating profit up 53 percent to 43.5 billion yen.
Full-year operating profit outlook increased to 78 billion yen, all-time record. Mid-term commitments established to generate operating profits above 100 billion yen in FY2006.

Hiroshima - Mazda Motor Corporation today reported a strong profit increase for the first half of FY2004. The results have put the company well on course to achieve its best ever, full-year operating profit.

In the first half of FY2004, which ended September 30, 2004, Mazda posted an increase in all profit levels. Consolidated revenue for the period was 1,320.6 billion yen, up 9 percent over the same period of the previous year. Operating profit increased by 53 percent to 43.5 billion yen, with net income increasing by 68 percent from year-ago levels to 18.7 billion yen.

These profit gains were largely supported by increased revenue through continued sales strength in Europe, stronger sales of new products such as Mazda3/Axela and the company's continued efforts with its Achieve Best Cost (ABC) initiative to drive down cost.

Mazda Representative Director and Chief Financial Officer Gideon Wolthers said, "I am pleased once again to provide a favorable financial report. Good momentum in the first half has given us the confidence to raise our full-year outlook. We are now on course to achieve an all-time record of 78 billion yen in operating profit. And it is worth noting the last time our operating results were close to that level, the year was 1985 and the yen stood at 245 to the dollar."

Financial results for the first half of FY2004

Consolidated revenue in the first half was 1,320.6 billion yen, an increase of 111.1 billion yen over the first half of FY2003. Operating profit was 43.5 billion yen, a year-on-year increase of 15.1 billion yen. Ordinary profit was 36.9 billion yen, up 17.9 billion yen from a year ago, while net income increased by 7.5 billion yen to 18.7 billion yen.

Consolidated cash flow was negative 14 billion yen. Net debt increased by 5.2 billion yen to 363.3 billon yen compared to the end of FY2003, and the debt-to-equity ratio improved by 10 percentage points to 151 percent.

Financial projection for FY2004

Mazda also announced an increase to its full-year projections for FY2004-including a projected operating profit of 78 billion yen, which would represent an all-time record. All FY2004 profit levels are projected to be up year-on-year.

Full-year sales revenues are projected to be 2,710 billion yen, an increase of 5 percent over year-earlier levels, excluding the impact resulting from the fiscal year change at overseas operations in FY2003. Operating profit is projected to be 78 billion yen, an increase of 7.8 billion yen over FY2003 and an increase of 8 billion yen from earlier projections. Full-year projections for ordinary profit and net income have also been increased.

New projected financial results for FY2004:

Sales revenue: 2,710 billion yen, up 135 billion yen from FY2003 excluding the impact resulting from the fiscal year change:

Operating profit: 78.0 billion yen, up 7.8 billion yen from FY2003

Ordinary profit: 74.0 billion yen, up 16.0 billion yen from FY2003

Net income: 37.0 billion yen, up 3.1 billion yen from FY2003

(November 9, 2004)

.
Homepage News Companies Management Publications Events Guestbook Search
.