Mitsubishi Motors Reports Full Year Financial Results for FY2018 and Issues FY2019 Guidance

Stocks and Financial Services Press Releases Monday May 27, 2019 15:27
กรุงเทพฯ--27 พ.ค.--Mitsubishi Motors
Mitsubishi Motors Corporation has announced full-year financial results for Fiscal Year 2018 ended March 31, 2019, and issued its initial forecast for Fiscal Year 2019 ending March 31, 2020.
1. Summary of Financial Results for FY2018

In FY2018, net sales increased by 14.7% year on year to JPY / CNY2,514.6 billion, and operating profit increased to JPY / CNY111.8 billion from JPY / CNY98.2 billion in the previous fiscal year, representing an operating margin of 4.4%.

2. Global Sales Performance
Global sales volume for FY2018 totaled 1,244,000 units, an increase of 13% from the prior fiscal year.
In the ASEAN region, sales of XPANDER MPV increased 17% to 318,000 units from the previous fiscal year, with sales expanding from the launch market of Indonesia to the Philippines, Thailand, and Vietnam.

In Japan, sales of Eclipse Cross, Outlander PHEV and Delica D:5 helped lift volumes by 7% to 105,000 units, maintaining a recovery trend in demand for Mitsubishi models. In addition, at the end of FY2018, we launched the new Kei-car, eK Wagon and eK Cross.

Sales volumes increased year-on-year in all regions, including our Bed-rock market, Oceania and our Focus markets, North America and China, as well as other territories. Thus, we have largely achieved the full-year forecast for unit sales announced at the beginning of FY2018.

3. FY2019 Consolidated Financial Forecasts
MMC forecasts that global sales in Fiscal Year 2019 are expected to increase by 5% year-on-year to 1,305,000 units.

The company aims to achieve sustainable growth by optimizing sales efficiency through enhanced brand value and strengthening of its sales networks. MMC also intends to further expanding sales of XPANDER, which has won favorable recognition, and to increasing sales volume of Outlander PHEV and Eclipse Cross, reflecting the company's strengths.

MMC's financial forecast for Fiscal Year 2019 is as follows:
Net sales are projected to rise 3% year-on-year to JPY / CNY2,580.0 billion.

The company continues to focus on securing sustainable earnings in an increasingly uncertain market environment, and aims to achieve operating profit of JPY / CNY90.0 billion and net profit of JPY / CNY65.0 billion.

Note on forward-looking statements

This statement contains forward-looking statements, based on judgments and estimates that have been made on the basis of currently available information. By nature, such statements are subject to uncertainty and risk. Therefore, you are advised that the final results might be significantly different from the aforementioned statements due to changes in economic environments related to our business, market trends, fluctuations in interest rates and exchange rate, changes in laws, regulations and government policies, etc.

Potential risks and uncertainties are not limited to the above and Mitsubishi Motors is not under any obligation to update the information in this statement to reflect any developments or events in the future.

If you are interested in investing in Mitsubishi Motors, you are requested to make a final investment decision at your own risk, taking the foregoing into consideration. Please note that neither Mitsubishi Motors nor any third party providing information shall be responsible for any damage you may suffer due to investment in Mitsubishi Motors based on the information shown in this statement.

About Mitsubishi Motors Thailand (MMTh)

Mitsubishi Motors (Thailand) Co., Ltd., the largest plant in the MMC group and an export hub to more than 120 countries, is one of Thailand's leading automotive manufacturers committed to produce and sell a range of vehicles that are eco-friendly, high in quality, performance, safety, comfort, technology and customer satisfaction. In 2018 MMTh celebrated a total production of five million units, and officially opened Education Academy in Pathum Thani. MMTh's current range of vehicles includes the Mitsubishi Triton, Mitsubishi Pajero Sport, Mitsubishi Attrage, Mitsubishi Mirage, and Mitsubishi XPANDER. To ensure the highest quality, MMTh uses its proving ground in Sriracha, Chonburi to assess products from design and prototype stages to pre-production and commercialization. This ensures customers take delivery of vehicles that are second-to-none in all aspects of quality.

Please contact Mitsubishi dealers nationwide for more information and test driving, or contact Mitsubishi Call Center Tel. 02-079-9500 every day at 8:30 – 17:00 hrs.

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