Favourable foreign exchange translation thanks to yen depreciation is substantially boosting an otherwise flat year for Yamaha, according to results for the nine months of its current financial year to 30 September.
The company’s dominant motorcycle business posted a 16.4 per cent revenue increase for the period to £4.38bn. Operating profit increased by 122.6 per cent to £39m. But global bike sales actually fell by 1.1 per cent to 4.473 million bikes.
Sales in developed markets improved overall, with 5.1 per cent growth to 54,000 bikes in North America and a 12.3 per cent rise to 82,000 bikes in Japan compensating for ongoing decline in Europe — which suffered a fall of 3.7 per cent to 130,000 bikes. Major emerging markets with much higher volumes delivered a mixed performance. India and Indonesia were up but slower economic growth in Thailand and Vietnam depressed their sales.
The power products division, largely dependent on quadbike and side-by-side ATV sales, enjoyed a 15.6 per cent rise in revenue to £530m. Associated operating profit was up by 57.4 per cent to £27m.
Yamaha’s total revenue stacked on 15.2 per cent to £6.6bn. Operating profit grew by 84.9 per cent to £266m. Net profit was 84.2 per cent up at £166m.