TOKYO, July 31, 2018 /PRNewswire/ -- Honda Motor Co., Ltd. (HMC;NYSE) announced its consolidated financial results for the fiscal first quarter ended June 30, 2018.
Consolidated sales revenue for the fiscal first quarter (April 1, 2018 through June 30, 2018) amounted to 4,024.1 billion yen, an increase of 8.4% compared to the same period last year, due primarily to an increase in sales revenue from all businesses.
Consolidated operating profit for the fiscal first quarter amounted to 299.3 billion yen, an increase of 11.2% compared to the same period last year, due to profit-increasing factors such as an increase in profit related to changes in sales volume and model mix resulting from strong sales of automobiles in North America and motorcycles in Asian countries such as India and Vietnam, as well as a decrease in selling, general and administrative (SG&A) expenses. This was despite profit-reducing factors such as the impact of Mexico plant flooding and unfavorable foreign currency effects.
Consolidated profit before income taxes for the fiscal first quarter amounted to 358.2 billion yen, an increase of 6.9% compared to the same period last year. Consolidated profit for the fiscal first quarter attributable to owners of the parent amounted to 244.3 billion yen, an increase of 17.8% compared to the same period last year.
The following revisions were made to the previously announced consolidated financial forecasts for the current fiscal year (April 1, 2018 through March 31, 2019). The forecast for consolidated sales revenue was revised downward by 150.0 billion yen to 15.45 trillion yen, operating profit was revised upward by 10.0 billion yen to 710.0 billion yen, and the forecast for profit for the current fiscal year attributable to owners of the parent was revised upward by 45.0 billion yen to 615.0 billion yen.
Despite the impact of Mexico plant flooding, which occurred during the first fiscal quarter, and an increase in raw material prices, the forecast for consolidated operating profit was revised upward by 10.0 billion yen due primarily to an increase in motorcycle unit sales, as well as cost reduction efforts.
The quarterly dividend for the fiscal first quarter will be 27 yen per share (an increase of 3 yen per share compared to the same period last year), and total dividends to be paid for the fiscal year ending March 31, 2019 are expected to be 108 yen per share (an increase of 8 yen per share compared to the previous fiscal year).
Consolidated Financial Results for the Fiscal 1st Quarter
Forecasts for the Fiscal Year Ending March 31, 2019 (FY19)
*1 Honda Group Unit Sales is the total unit sales of the completed products (motorcycles, ATVs, side-by-sides, automobiles, power products) of Honda, its consolidated subsidiaries and its affiliates and joint ventures accounted for using the equity method.
*2 Consolidated Unit Sales is the total unit sales of the completed products (motorcycles, ATVs, side-by-sides, automobiles, power products) corresponding to consolidated sales revenue, which consists of unit sales of completed products of Honda and its consolidated subsidiaries.
*3 Certain sales of automobiles that are financed with residual value type auto loans by our Japanese finance subsidiaries and sold through our consolidated subsidiaries are accounted for as operating leases in conformity with IFRS and are not included in consolidated sales revenue to the external customers in our automobile business. Accordingly, they are not included in Consolidated Unit Sales, but are included in Honda Group Unit Sales of our automobile business.
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SOURCE Honda Motor Co., Ltd.