Having withdrawn from global sporting engagement in favour of more modest objectives, Suzuki Motor Corporation’s motorcycle business has satisfactorily banked this change in direction. BDN financial editor Roger Willis reports.
Full-year revenue to 31 March accelerated by 31.4% to £1.961bn. Operating profit went ballistic, 170.2% up to £172m. Operating margin reached a record 8.8%.
Asian performance was to the fore in elevating turnover, 30.9% up to £976m. Suzuki’s wholly-owned Indian motorcycle and scooter subsidiary played the biggest role in that, adding 40.6% to £521m. Other emerging markets improved by 28.6% to £338m. Among key developed-world contributors, Europe boasted a 33.3% rise to £230m and North America mounted a 60% recovery to £282m.
Bike production during the year grew by 7.3% to 1.914 million. The vast majority were made in Asian plants. Only 111,000 originated from Japan.
Worldwide unit sales were 13.4% up to 1.859 million. Asia consumed 1.528 million of them, a 15.4% increase. Within that, India put on 21.4% to 740,000. China was 6.8% higher at 430,000 and the Philippines climbed by 22.5% to 197,000. Elsewhere in the emerging firmament, Latin America was 17.5% up to 198,000.
European sales volume rose by 9.1% to 31,000 and North American numbers were 11.5% up to 32,000. The Japanese domestic market fell by 14.6% to 46,000.
However, Suzuki’s new fiscal year isn’t so promising. Production is set to expand by just 3% to 1.971 million bikes, with projected global sales volume only 4.4% up to 1.941 million. Asian growth is forecast at a mere 4.3% to 1.594 million, while smaller emerging markets should see a 3.5% decline to 215,000. North America is likely to flatten on only a 3.4% gain to 33,000. But saving the good news until last, European volume should wallow in a predicted 39.6% surge to 43,000.
Yen-Sterling currency translation at forex rates applicable on 15 May.