Consolidated Financial Summary for the Fiscal Year and the Fiscal 4th Quarter Ended March 31, 2019
TOKYO, May 8, 2019 /PRNewswire/ -- Honda Motor Co., Ltd. (HMC;NYSE) announced its consolidated financial results for the fiscal year and the fiscal fourth quarter ended March 31, 2019.
Consolidated sales revenue for the fiscal year (April 1, 2018 through March 31, 2019) amounted to 15,888.6 billion yen, an increase of 3.4% compared to the previous fiscal year and an all-time fiscal year record, due primarily to an increase in sales revenue from all businesses. Consolidated operating profit for the fiscal year amounted to 726.3 billion yen, a decrease of 12.9% compared to the previous fiscal year, due primarily to the impact to Europe related to changes of the global automobile production network and capability as well as unfavorable currency effects. This was despite an increase in motorcycle sales in Asia, cost reduction efforts and the loss related to the settlement of class action litigation recorded in the previous fiscal year. Consolidated profit before income taxes for the fiscal year amounted to 979.3 billion yen, a decrease of 12.2% compared to the previous fiscal year. Consolidated profit for the fiscal year attributable to owners of the parent amounted to 610.3 billion yen, a decrease of 42.4% compared to the previous fiscal year, due primarily to the reverse effect from the impact of a reduction of corporate tax rates in the U.S. (346.1 billion yen)*1 recorded in the previous fiscal year.
Consolidated sales revenue for the fiscal fourth quarter (January 1, 2019 through March 31, 2019) amounted to 4,049.1 billion yen, an increase of 3.4% compared to the same period last year, due primarily to an increase in sales revenue from automobile and financial services businesses. Consolidated operating profit for the fiscal fourth quarter amounted to 42.3 billion yen, a decrease of 66.6% compared to the same period last year, due primarily to the impact to Europe related to changes of the global automobile production network and capability as well as unfavorable currency effects. This was despite the positive effect of cost reduction efforts. Consolidated profit before income taxes for the fiscal fourth quarter amounted to 111.1 billion yen, a decrease of 41.7% compared to the same period last year. Consolidated loss for the fiscal fourth quarter attributable to owners of the parent amounted to 13.0 billion yen, resulting in a decrease in profit by 120.7 billion yen compared to the same period last year.
The quarterly dividend for the fiscal fourth quarter will be 28 yen per share, an increase of 1 yen per share compared to the same period last year. The total dividends to be paid for the fiscal year ended March 31, 2019 will be 111 yen per share, an increase of 11 yen per share compared to the previous fiscal year.
Consolidated Financial Results for the Fiscal Year Ended March 31, 2019 (FY19) |
||||||
FY18 results |
Previously forecasts (Feb. 1, 2018) |
FY19 results |
Difference |
Difference |
||
Honda Group |
Motorcycles |
19.554 |
20.400 |
20.238 |
+0.684 |
-0.162 |
Automobiles*4 |
5.199 |
5.285 |
5.323 |
+0.124 |
+0.038 |
|
Power Products |
6.262 |
6.240 |
6.301 |
+0.039 |
+0.061 |
|
Consolidated Unit Sales*3 (million units) |
Motorcycles |
12.954 |
13.395 |
13.215 |
+0.261 |
-0.180 |
Automobiles*4 |
3.689 |
3.745 |
3.748 |
+0.059 |
+0.003 |
|
Power Products |
6.262 |
6.240 |
6.301 |
+0.039 |
+0.061 |
|
Financial |
Sales revenue |
15,361.1 |
15,850.0 |
15,888.6 |
+527.4 |
+38.6 |
Operating profit |
833.5 |
790.0 |
726.3 |
-107.1 |
-63.6 |
|
Share of profit of |
247.6 |
215.0 |
228.8 |
-18.8 |
+13.8 |
|
Profit before income taxes |
1,114.9 |
1,010.0 |
979.3 |
-135.5 |
-30.6 |
|
Profit for the year attributable to owners of |
1,059.3 |
695.0 |
610.3 |
-449.0 |
-84.6 |
|
Annual dividend per share (yen) |
100 |
111 |
111 |
+11 |
- |
|
Honda's |
USD= |
111 |
111 |
111 |
Down by |
Down by |
Consolidated Financial Results for the Fiscal 4th Quarter |
||||
4th quarter ended Mar. 31, 2018 (3 months period) |
4th quarter ended Mar. 31, 2019 (3 months period) |
Difference |
||
Honda Group |
Motorcycles |
4.747 |
4.558 |
-0.189 |
Automobiles*4 |
1.296 |
1.364 |
+0.068 |
|
Power Products |
2.477 |
2.347 |
-0.130 |
|
Consolidated Unit Sales*3 (million units) |
Motorcycles |
3.167 |
2.837 |
-0.330 |
Automobiles*4 |
0.950 |
0.979 |
+0.029 |
|
Power Products |
2.477 |
2.347 |
-0.130 |
|
Financial |
Sales revenue |
3,914.7 |
4,049.1 |
+134.3 |
Operating profit |
126.8 |
42.3 |
-84.4 |
|
Share of profit of |
57.9 |
59.1 |
+1.2 |
|
Profit before income taxes |
190.4 |
111.1 |
-79.3 |
|
Profit for the period |
107.7 |
-13.0 |
-120.7 |
|
Quarterly dividend per share (yen) |
27 |
28 |
+1 |
|
Honda's |
USD= |
108 |
110 |
Down by |
Forecasts for the Fiscal Year Ending March 31, 2020 (FY20) |
||||
FY19 results |
FY20 forecasts (May 8, 2019) |
Difference |
||
Honda Group |
Motorcycles |
20.238 |
20.250 |
+0.012 |
Automobiles*4 |
5.323 |
5.160 |
-0.163 |
|
Life Creation*5 |
6.301 |
6.390 |
+0.089 |
|
Consolidated Unit Sales*3 (million units) |
Motorcycles |
13.215 |
13.100 |
-0.115 |
Automobiles*4 |
3.748 |
3.545 |
-0.203 |
|
Life Creation*5 |
6.301 |
6.390 |
+0.089 |
|
Financial Forecasts |
Sales revenue |
15,888.6 |
15,700.0 |
-188.6 |
Operating profit |
726.3 |
770.0 |
+43.6 |
|
Share of profit of investments accounted for using the equity method |
228.8 |
220.0 |
-8.8 |
|
Profit before income taxes |
979.3 |
995.0 |
+15.6 |
|
Profit for the year attributable to owners of the parent |
610.3 |
665.0 |
+54.6 |
|
Annual dividend per share (yen) |
111 |
112 |
+1 |
|
Honda's |
USD= |
111 |
110 |
Up by |
*1 Impact of the re-measurement of deferred tax assets/liabilities of consolidated subsidiaries based on the reduction of corporate tax rates in the U.S. |
||||
*2 Honda Group Unit Sales is the total unit sales of the completed products (motorcycles, ATVs, side-by-sides, automobiles, power products) of Honda, its consolidated subsidiaries and its affiliates and joint ventures accounted for using the equity method. |
||||
*3 Consolidated Unit Sales is the total unit sales of the completed products (motorcycles, ATVs, side-by-sides, automobiles, power products) corresponding to consolidated sales revenue, which consists of unit sales of completed products of Honda and its consolidated subsidiaries. |
||||
*4 Certain sales of automobiles that are financed with residual value type auto loans by our Japanese finance subsidiaries and sold through our consolidated subsidiaries are accounted for as operating leases in conformity with IFRS and are not included in consolidated sales revenue to the external customers in our automobile business. Accordingly, they are not included in Consolidated Unit Sales, but are included in Honda Group Unit Sales. |
||||
*5 Power Products business unit was renamed as Life Creation business as of April 1, 2019 |
||||
For Additional Information, please visit:
https://global.honda/investors/library/financialresult.html
SOURCE Honda Motor Co., Ltd.
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