Tuesday, July 23, 2024
HomeNEWSFINANCIALYAMAHA REAPS THE REWARDS

YAMAHA REAPS THE REWARDS

Having radically refreshed its motorcycle model range over the past couple of years, Yamaha is clearly enjoying the benefits — as illustrated by excellent results in the first nine months of its current financial year.

Although overall bike sales volume fell by 11.5% to 3.886 million units during the period, substantial growth in developed countries and a move to higher-priced products in emerging markets easily offset the reduction in numbers across parts of Asia and Latin America. Revenue from motorcycles rose by 6.5% to £4.17bn. Operating profit from the sector soared, up by 63.7% to £156m.

Europe improved by 10.4% to 170,000 units. North America stacked on 21.4% to 68,000 units. And while Asian sales dropped by 13.4% to 3.17 million units, the company says increases in Vietnam, the Philippines and Taiwan overwhelmed losses in Indonesia.

The brand’s power products division also cashed in on the back of new side-by-side ATV models in North America. Revenue increased by 14.1% to £598m with associated operating profit up 64% to £49m.

Overall revenue grew by 8% to £6.57bn, some 63.5% of which was attributable to motorcycles. Operating profit climbed by 40.8% to £540.7m. However, Yamaha has been caught with its pants down by US authorities over transfer pricing scams to minimise corporation tax and had to account for an anticipated £189m one-off additional taxation hit. This hammered the bottom line and net profit was down by 6.6% at £264.9m.

RELATED ARTICLES

Product News

Verge opens first American stores

Futuristic electric superbike builder Verge, has opened its first outlets in the United States. The Los Angeles and San Jose stores are both based...