Mazda Reports Fiscal Year 2006 Financial Results, Record Profits Achieved in Final Year of Mazda Momentum Plan.Hiroshima Hiroshima (hĭr'ōshē`mə, hērō`shmä), city (1990 pop. 1,085,705), capital of Hiroshima prefecture, SW Honshu, Japan, on Hiroshima Bay. , Japan, Apr 27, 2007 - (JCN JCN Japan Corporate News JCN Journal of Cognitive Neuroscience JCN Journal of Cardiovascular Nursing JCN Journal of Christian Nursing JCN Job Control Number JCN Journal of Child Neurology JCN joint communications network (US DoD) Newswire) - 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 Operating profit (or loss) Revenue from a firm's regular activities less costs and expenses and before income deductions. operating profit See operating income. 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 A suspension of activity or an authorized period of delay or waiting. A moratorium is sometimes agreed upon by the interested parties, or it may be authorized or imposed by operation of law. 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 all-time adj. Exceeding all others up to the present time: an all-time speed skating record. all-time Adjective Informal high of 3,247.5 billion yen, the first time it has surpassed the 3 trillion One thousand times one billion, which is 1, followed by 12 zeros, or 10 to the 12th power. See space/time. (mathematics) trillion - In Britain, France, and Germany, 10^18 or a million cubed. In the USA and Canada, 10^12. 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 (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. 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 A crossover SUV (also called CUV for Crossover Utility Vehicle) or XUV (not to be confused with GMC's Envoy XUV) is an automobile with a sport utility vehicle appearance but is built upon a more economical and fuel-efficient unibody construction. in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. and vehicles powered by new diesel engines in Europe Europe (y  r`əp), 6th largest continent, c.4,000,000 sq mi (10,360,000 sq km) including adjacent islands (1992 est. pop. 512,000,000). . 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 fa·vor·a·ble adj. 1. Advantageous; helpful: favorable winds. 2. Encouraging; propitious: a favorable diagnosis. 3. effects of a weaker yen and net cost reductions which offset the impact of higher raw materials costs. Ordinary profit was 127.8 billion yen, a rise of 26 percent, or a 26.3 billion yen increase over the figure from the last fiscal year. At 73.7 billion yen, net income was up 7 billion yen from year-ago levels, a climb of 11 percent. However, net income would have increased by 26 percent over the prior year - excluding the one-time one-time adj. 1. or one·time a. Occurring or undertaken only once: a one-time winner in 1995. b. impact of an extraordinary gain from the transfer of a substitutional sub·sti·tu·tion n. 1. a. The act or an instance of substituting. b. The state of being substituted. 2. One that is substituted; a replacement. portion of employee pension fund liabilities to the government and impact of asset-impairment losses in FY2005. In addition, cash flow in FY2006 was 21.0 billion yen, consisting of an operating cash flow Operating cash flow Earnings before depreciation minus taxes. Measures the cash generated from operations, not counting capital spending or working capital requirements. of 116.4 billion yen, less investments of 95.4 billion yen. Net debt, at 232.2 billion yen, was down 14.6 billion from the end of the prior fiscal year, resulting in a net debt-to-equity ratio debt-to-equity ratio The relationship between long-term funds provided by creditors and funds provided by owners. A firm's debt-to-equity ratio is calculated by dividing long-term debt by owners' equity. Both items are shown on the balance sheet. of 49 percent in FY2006, a 13 point improvement over the prior year and under the 50 percent target figure. Financial Projections for FY2007 Mazda projects a global retail volume of 1.35 million units in FY2007, a 4 percent increase over FY2006. With the planned introduction of the all-new Mazda2 (known as Demio in Japan) in FY2007 together with full-year contributions from the CX-7 and CX-9 models, sales increases are forecast in North America, Europe and other global markets as Mazda aims at sustained product-led growth in the future. Consolidated revenue is projected to increase by 2 percent to 3,320.0 billion yen, a rise of 72.5 billion yen over FY2006 levels. With improved volume and model mixes and aggressive forward-looking for·ward-look·ing adj. Concerned with or making provision for the future: forward-looking educators; a forward-looking corporate plan. Adj. 1. investment, Mazda projects operating profit to grow by 1 percent, an year-on-year increase of 1.5 billion yen, and to reach 160.0 billion in FY2007. The outlook for ordinary profit is 140.0 billion yen, an increase of 12.2 billion yen, or 10 percent, from prior-year levels. Mazda is forecasting net income to be up by 11.3 billion yen (or 15 percent) to reach 85 billion yen. FY2007 Projections Key Data ------------------------------------------------------------------------ (in units, billions yen) H1 H2 FY Y/Y Change ------------------------------------------------------------------------ Global retail volume 670,000 680,000 1,350,000 up 4% Revenue 1,580.0 1,740.0 3,320.0 up 2% Operating profit 60.0 1 00.0 160.0 up 1% Ordinary profit 50.0 90.0 140.0 up 10% Net income 25.0 60.0 85.0 up 15% ------------------------------------------------------------------------ Dollar/Euro Equivalent FY2006 Financial Results ------------------------------------------------------------------------ (in millions) Yen US$ Euro ------------------------------------------------------------------------ Revenue 3,247,500 28,276.0 22,165.7 Operating profit 158,500 1,380.1 1,081.8 Ordinary profit 127,800 1,112.8 872.3 Net income 73,700 641.7 503.0 Cash flow 21,000 182.8 143.3 Net debt 232,200 2,021.8 1,584.9 ------------------------------------------------------------------------ - Dollar equivalents compiled at 114.85 yen to the dollar (Exchange rate prevailing on March 30, 2007). - Euro equivalents compiled at 146.51 yen to the Euro (Exchange rate prevailing on March 30, 2007). FY2007 Financial Projections ------------------------------------------------------------------------ (in millions) Yen US$ Euro ------------------------------------------------------------------------ Revenue 3,320,000 28,869.6 21,699.3 Operating profit 160,000 1,391.3 1,045.8 Ordinary profit 140,000 1,217.4 915.0 Net income 85,000 739.1 555.6 ------------------------------------------------------------------------ -Dollar equivalents compiled at 115 yen to the dollar -Euro equivalents compiled at 153 yen to the Euro Please go to "Investor Relations Investor relations The process by which the corporation communicates with its investors. " at the Mazda Official Website http://www.mazda.com/investors/ for additional financial information. * The projections for FY2007 and future outlook shown in this press release are based on various uncertainties including conditions of the world economy in the future, automotive industry The automotive industry is the industry involved in the design, development, manufacture, marketing, and sale of motor vehicles. In 2006, more than 69 million motor vehicles, including cars and commercial vehicles were produced worldwide. trends and the risk of exchange rate fluctuations. Note that neither Mazda nor any third party providing information shall be responsible for any damage an individual may suffer due to investment in Mazda based on the information contained in this press release. About Mazda Motor Corporation Mazda Motor Corporation (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). : 7261) started manufacturing tools in 1929 and soon branched out into production of trucks for commercial use. In the early 1960s, Mazda launched its first passenger car models and began developing rotary engines rotary engine, internal-combustion engine whose cycle is similar to that of a piston engine, but which produces rotary motion directly without any conversion from reciprocating motion. . Still headquartered in Hiroshima in western Japan, Mazda today ranks as one of Japan's leading automakers, and exports cars to the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and Europe for over 30 years. Overseas sales account for more than half of total turnover. Mazda has two main production sites in Japan and 19 overseas facilities. Overseas sites include joint ventures based in the United States, and in Thailand with Ford Motor Company, Mazda's largest shareholder. Source: Mazda Motor Corporation Contact: Mazda Motor Corporation Ms. Mayumi Handa handa.ma@tky.mazda.co.jp +81-82-282-1111 Copyright [c] 2007 JCN Newswire. All rights reserved. A division of Japan Corporate News Network K.K. |
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