Although revenue from global Yamaha motorcycle sales in the first three months of 2013 increased by 4.5 per cent to £1.41bn — representing 67 per cent of the company’s entire turnover — volume was down in all major markets, falling overall by 8.1 per cent to 1.47 million units. Operating profit from bikes plummeted by 45.5 per cent to a mere £19.3m.
Key developed export markets in Europe and North America both suffered from unusually harsh weather in the quarter, with the former also beset by ongoing economic woes. Volume in Europe declined by 20 per cent to 36,000 units and related revenue dropped by 15.1 per cent to £126.3m. American sales fell by ten per cent to 18,000 units with revenue down by 13.3 per cent to £72.7m. Only the Japanese domestic market improved in volume terms, up by 16.7 per cent to 28,000 units, but revenue still fell by a marginal 0.8 per cent to £56.9m.
Emerging markets in Asia delivered a mixed message. Growth in India and Vietnam was offset by a decline in Indonesia. Overall volume was therefore down by eight per cent to 1.27 million units. However, revenue increased by 9.5 per cent to £969.5m.
Yamaha’s power products division, which primarily produces ATVs, didn’t do too well either. Although revenue was up by 9.6 per cent to £156.2m, its operating loss extended to £4.4m from a loss of £799,000 in the same period last year.
For the group as a whole, revenue was up by 3.7 per cent to £2.11bn. Operating profit rose by 11.6 per cent to £89.4m but net profit was down by 35.6 per cent to £47.8m.