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Mazda First Half Operating Profit Rises 12 Percent to 48.8 Billion Yen
- First-half consolidated operating profit up 12 percent to 48.8 billion
HIROSHIMA, Japan--Mazda Motor Corporation today reported an increase in profit for the first half of FY2005. The results keep the company on track to achieve its best ever full-year operating profit and net income.
For the first half of the 2005 fiscal year, Mazda recorded 557,000 global wholesales, up 5 percent compared to the same period last year. Revenue increased 2 percent year-on-year to 1,351.9 billion yen and Operating Profit increased 12 percent to 48.8 billion yen.
On a regional basis, Japan's sales for the first six months grew 4 percent to 141,000 units compared to the same period last year, reflecting the success of the recently launched Premacy minivan. In the United States, sales declined by one percent and sales in Europe were down 3 percent year-on-year, in part reflecting production constraints and runout of previous models ahead of new model introductions. Sales are expected to pick up in the second half with new model introductions and improved supply.
In other key markets, sales in the first half were strong. Sales in China increased by 52 percent year-on-year, Canada was up 15 percent year-on-year, and Australia recorded a solid 13 percent improvement.
Ordinary Profit rose 17 percent to 43.4 billion yen, Profit Before Tax increased 88 percent to 63.2 billion yen, and Net Income was up by 66 percent to 31.1 billion yen. Included in Profit Before Tax was an extraordinary gain of 19.8 billion yen, which is largely attributable to the transfer of the substitutional portion of employee pension fund obligations and assets to the government as well as fixed asset impairment losses.
Full-year projections for FY 2005
"I am pleased to be able to report another set of favorable financial
results," said Gideon Wolthers, Mazda's representative director and chief
financial officer. "While we face a challenging second half, our commitment
to product-led growth continues with solid contributions expected from
our new Mazda5, MX-5 and Mazdaspeed6 models."
FY2005 First Half Financial Results
-Dollar equivalents compiled at 113.21 yen to the dollar (Exchange rate prevailing on Sept. 30, 2005).
-Euro equivalents compiled at 136.15 yen to the Euro (Exchange rate prevailing on Sept. 30, 2005).
Go to "Investors Relations" at the Mazda Official Website for additional financial information.