Suzuki announces financial results for FY2020 First Quarter
Wednesday, August 5, 2020 3:12 PM
1 - Outline of Financial Results for FY2020 First Quarter
Net sales and income of FY2020 first quarter (April to June 2020) largely decreased compared to the corresponding period of the previous fiscal year. This is owing to the spread of the new coronavirus pandemic, which impacted the plant operations of the Company’s production sites in countries including Japan, India, Pakistan, and Hungary, as well as sales in countries worldwide.
Consolidated net sales decreased by ¥482.2 billion (3.86 billion Euro) (53.1%) to ¥425.3 billion (3.40 billion Euro) year-on-year, and operating income largely decreased by ¥61.4 billion (492 million Euro) (97.9%) to ¥1.3 billion (10.4 million Euro). Ordinary income decreased by ¥57.9 billion (464 million Euro) (80.0%) to ¥14.5 billion (116 million Euro), and net income attributable to owners of the parent decreased by ¥38.7 billion (310 million Euro) (95.6%) to ¥1.8 billion (14.4 million Euro) year-on-year.
And ¥15.4 billion (123.4 million Euro) equivalent to fixed expenses related to production suspension due to lockdown in countries including India and Hungary to prevent the spread of the new coronavirus pandemic was accounted as extraordinary loss.
2 - Operating Results by Segment
(1) Automobile business
Net sales decreased by 27.6% in Japan, 83.0% in India, and 54.3% in other areas year-on-year, while they were about equally divided previously. As a result, total net sales decreased by ¥449.6 billion (3.6 billion Euro) (55.0%) to ¥367.5 billion (2.9 billion Euro) year-on-year. Operating income decreased by ¥54.6 billion (437 million Euro) to ¥24 million (192.300 Euro) year-on-year.
(2) Motorcycle business
Net sales decreased by ¥30.7 billion (246 million Euro) (46.8%) to ¥34.9 billion (280 million Euro) year-on-year, and there was operating loss of ¥3.0 billion (24 million Euro) owing to decrease in sales in areas including India and Europe due to the impact of the spread of the new coronavirus pandemic.
(3) Marine business, etc.
Net sales decreased by ¥1.9 billion (15.2 million Euro) (7.7%) to ¥22.9 billion (183.5 million Euro) year-on-year, of which the marine business decreased by ¥1.7 billion (13.6 million Euro) (7.9%) to ¥20.2 billion (161.8 million Euro) year-on-year mainly owing to decrease in sales of outboard motors in Europe. Operating income decreased by ¥1.5 billion (12 million Euro) (25.9%) to ¥4.3 billion (34 million Euro) year-on-year, of which the marine business decreased by ¥1.4 billion (11.2 million Euro) (26.4%) to ¥3.8 billion (30.4 Million Euro) year-on-year.
(4) Operating results by geographic region
Net sales and income largely decreased in all areas.
3 - Forecasts for Consolidated Operating Results
As the new coronavirus pandemic is spreading in the Company’s major market of India, we are currently unable to rationally calculate the forecasts. Therefore, the announcement of forecasts for consolidated operating results remains undetermined.
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