After a lot of now generally redundant bleating about supply-chain glitches and semiconductor shortages, Yamaha has responded to strong demand with ramped-up production and shipments — and the proof is higher sales and profits in Q1. BDN financial editor Roger Willis reports.
The brand’s first-quarter motorcycle business revenue put on 25.3% to £2.043bn, on the back of global unit sales improving by 12.1% to 1.274 million. Asia was 22.6% up to £1.228bn, thanks to a 13.6% sales volume increase encompassing 1.028 million of those bikes.
More profitable developed markets together rose by 30.8% to £530m. Prominent within them, European turnover climbed by 29.8% to £309m as associated unit sales added 7.8% to 55,000. North America achieved a particularly remarkable recovery — more than doubling revenue through a 110.7% hike to £139m and increasing unit sales by 85.7% to 26,000. Latin America and various other markets were 26.8% higher at £275m, as volume grew marginally by 0.7% to 144,000.
Radically improved operating profit from motorcycles also more than doubled, rising by 120.9% to £161m. Operating margin lifted from 4.5% to 7.9%.
Yamaha’s forecasts going forward through 2023 are mixed. While it anticipates continued strong demand for bikes in emerging markets as they experience economic recoveries, the company is cautious about uncertainties in the US and European economies.
Yen-Sterling currency translation at forex rates applicable on 15 May.