Yamaha Motor Records 0.5% Drop in 2019 Consolidated Sales
World-leading producer of motorcycles, marine products, power products and intelligent machinery, Yamaha Motor, has announced that for the fiscal year ending December 31, 2019, consolidated net sales were 1,664.8 billion yen, a decrease of 0.5 percent from the same period the previous year.
The company also said it experienced an 18.1 percent decrease in operating income of 25.4 billion yen, while ordinary income fell 13.4 percent to 119.5 billion yen and net income for the period attributable to parent company shareholders was down 18.9 percent to 17.6 billion yen.
Sales increased in the marine and financial services segments, however, dipped in the land mobility and robotics businesses.
Operating income increased in the developed markets motorcycle business thanks to increased factory utilization rates and structural reform in European and head office production, and in the Indonesia motorcycle business with increased sales of higher-priced products.
However, operating income decreased overall due to increased growth strategy expenses and foreign exchange effects.
In developed markets, motorcycle sales increased, particularly in Europe, on the back of models compliant with new emissions regulations.
Marine business net sales rose 2.0 percent thanks to an increase in outboard motor, water vehicle and sports boat sales in North America and Europe. Financial services sales increased 4.8 percent.
For 2021, Yamaha Motor forecasts a 5.7 percent increase in net sales to 1,760.0 billion yen, with operating income expected to grow 6.6 percent to 123.0 billion yen.
There is likely to be a 5.6 percent increase in net income attributable to parent company shareholders to 80.0 billion yen due to reduced lessened impact from risk areas such as trade friction between the U.S. and China and the U.K. withdrawing from the E.U.