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THIN BOTTOM LINE FOR YAMAHA

Nine-monthly results for Yamaha’s motorcycle operations benefited from a muscular rebound in the most recent July-September quarter. But profitability was emaciated. BDN financial editor Roger Willis reports.

Revenue from bikes was 20.7% down to £4.285bn, with global unit sales volume falling by 29.3% to 2.707 million. Yamaha’s Land Mobility division, in which motorcycles account for almost 90% of turnover, suffered a 19.3% revenue decline to £4.887bn and operating profit plummeting by 74.8% to £64m.

Big developed markets did best. Although European volume was 4% lower at 145,000 bikes, a Q3 sales surge meant associated revenue for the nine months from Europe improved marginally by 0.3% to £765m. North American volume was 18.7% down to 39,000 and revenue sank by 11.2% to £205m. Japan’s domestic market volume shrank by 7% to 66,000 with revenue 4.6% in arrears at £208m.

Yamaha’s major emerging market crumbled to a greater degree. Asian sales volume plunged by 32.5% to 2.173 million bikes. Revenue dropped by 27.3% to £2.551bn.

 

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