Mazda Motor Corporation today reported its financial results for fiscal year (FY) 2006 and provided its forecast for FY2007.
FY2006 Consolidated Full Year Highlights:
- Consolidated sales revenue increases by 11 percent to a record 3,247.5 billion yen - Consolidated operating profit up 28 percent to a record 158.5 billion yen - Consolidated net income increases 11 percent to a best-ever 73.7 billion yen - Six yen dividend per share declared; an increase of 1 yen
FY2007 Projections Highlights:
- Consolidated sales to increase by 2 percent to 3,320.0 billion yen - Operating profit forecast to increase by 1 percent to 160 billion yen - Net income expected to rise by 15 percent to 85 billion yen - Global retail volume to reach 1.35 million units, a 4 percent increase - Mazda to resume interim dividends after a 15-year moratorium
In the final year of the Mazda Momentum plan, Mazda’s FY2006 operating profit was a record 158.5 billion yen, exceeding FY2005 results by 28 percent. Consolidated revenue increased by 11 percent year-on-year to an all-time high of 3,247.5 billion yen, the first time it has surpassed the 3 trillion yen level. Net income once again achieved a best-ever record, up 11 percent to 73.7 billion yen, and global retail volume rose by 2 percent year-over-year to reach 1,302,000 units.
For FY2007, Mazda projects its operating profit to be 160.0 billion yen, up 1 percent. The full fiscal year 2007 outlook for net income is 85.0 billion yen, a 15 percent year-on-year increase. As product-driven growth for the company continues, Mazda is projecting a global retail sales increase of 4 percent in FY2007 to 1.35 million units. In addition, Mazda plans to resume interim dividends to shareholders for the first time in 15 years.
Mazda President and CEO Hisakazu Imaki said, “This was the final year of the Mazda Momentum plan and we are very pleased that our business performance in FY2006 once again resulted in all-time record results in all profit levels. FY2007 is the first year for our new Mazda Advancement Plan, and we will be aggressively increasing capital investment and R&D expenditures for product development of our core models and to strengthen our next-generation technologies. Going forward, we will execute this new mid-term plan with total dedication. ”
Financial results for FY2006
Global retail volumes were 1,302,000 units in FY2006, an increase of 2 percent over FY2005. This reflects the added sales from the launch of new crossover SUVs in North America and vehicles powered by new diesel engines in Europe. Consolidated revenues in FY2006 were 3,247.5 billion yen, a year-over-year increase of 327.7 billion yen, or an 11 percent increase. Operating profit was up by 35.1 billion yen, a 28 percent increase over the same period last year, to reach 158.5 billion yen. This reflects an improved model mix in North America due to the introduction of the CX-7 and CX-9 models, favorable effects of a weaker yen and net cost reductions which offset the impact of higher raw materials costs.
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