Mazda First Quarter Operating Profit rises 30%
Mazda First Quarter Operating Profit rises 30 percent
No change to full-year operating profit and net income forecast for FY2006
FY2006 Consolidated 1st
• Operating profit up 30 percent to 29.6 billion yen
• Consolidated revenue up 9 percent to 734.3 billion yen
• Ordinary profit rises 12 percent to 24 billion yen
Mazda Motor Corporation has announced its financial results for the first three months of fiscal year (FY) 2006.
For the first quarter, Mazda’s worldwide revenue increased year-on-year by 9 percent to 734.3 billion yen. This is due to an improved model mix and weaker yen against other major currencies. Operating profit rose 30 percent year-on-year to 29.6 billion yen, with ordinary profit also increasing by 12 percent to 24.0 billion yen. Worldwide net income increased by 6.2 billion yen to 6.6 billion yen.
Mazda’s full year FY2006 sales forecast remains unchanged from that announced on April 28, with consolidated wholesales up 5 percent to 1.21 million units. Consolidated revenue is expected to increase 6 percent to 3,100 billion yen, full-year operating profit is expected to rise 9 percent to 135 billion yen and net income is projected to climb 12 percent to 75 billion yen.
Mazda Representative Director, Senior Managing Executive Officer and Chief Financial Officer David E. Friedman said, “We have achieved year-on-year profit gains across the board for the first quarter. We are pleased to grow our operating margin to 4.0 percent from 3.4 percent for the same period in 2005, demonstrating continued improvement in our business structure.
Mazda New Zealand Managing Director, Peter Aitken, said: “It is most encouraging to see the profit improvement from Mazda Motor Corporation. This product-led growth is driving forward with the introduction of a number of new vehicles, namely Mazda CX-7 crossover vehicle and Mazda MX-5 Coupe both due to arrive in New Zealand later this year.”
FY2006 First Quarter Financial Results Unit: millions
Yen US$ Euro
Revenue 734,300 6,250.4 5,142.2
Operating profit 29,600 252.0 207.3
Ordinary profit 24,000 204.3 168.1
Net income 6,600 56.2 46.2
-Dollar equivalents compiled at 117.48 yen to the dollar
-Euro equivalents compiled at 142.80 yen to the Euro
The projections for FY2006 and future outlook mentioned in this press release are based on various uncertainties including conditions of the world economy in the future, automotive industry trends and the risk of exchange rate fluctuations. Note that neither Mazda nor any third party providing information shall be responsible for any damage an individual may suffer due to investment in Mazda based on the information contained in this press release.
Go to “Investors Relations” at the Mazda Official Website http://www.mazda.com/investors/ for additional financial information.
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