Suzuki sees record revenue as sales rise

Suzuki Motor Group reported record-high revenue and profit last fiscal year, driven by sales increases across markets.

Revenue was JP¥5.83 trillion (US$39 billion, A$62 billion) for the year ending in March, rising 8.7% year-over-year. In the year’s fourth quarter, revenue reached ¥1.54 trillion, above the ¥1.52 trillion seen one year before.

“In the January-March period under review, sales and profits increased year on year, reaching a record high. During the fiscal year under review, we outperformed the same period of the previous year in all quarters, and continued to steadily expand our business results,” Suzuki said.

Suzuki’s operating profit across the fiscal year was ¥642.9 billion, up 30.2% year-over-year, and its profit attributable to the company’s owners rose 31.2% to ¥416.1 billion. Both are new record highs.

Basic earnings per share were ¥215.66 last fiscal year, up from ¥163.88 the previous year.

The company credits its revenue growth to an increase in sales volume. Automobile sales were up 2.3% to 3.24 million last fiscal year, while motorcycle sales grew by 7.9% to 2.06 million.

Automobile production was up 0.9% over the fiscal year, with sales rising across all markets. Pakistan and the Middle East led by percentage growth, while its largest markets, Japan and India, saw sales increase by 6.4% and 0.1%. Europe and Indonesia were the only markets to see sales fall.

The company’s guidance for the next fiscal year projects revenue of ¥6.1 trillion, with an operating profit of ¥500 billion.

Rival Japanese automaker Mazda has withheld its guidance for the incoming fiscal year amid the impact of United States tariffs on cars, while Toyota projected profits would drop by US$1.2 billion in the next two months. Suzuki’s U.S. market is no longer major, however, with the company largely exiting the U.S. in 2012.

Suzuki Motor Group’s share price (TYO: 7269) closed at ¥1,800, up from its previous close at ¥1,794. Its market capitalisation is ¥3.54 trillion.

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