HAMAMATSU (dpa-AFX) - Suzuki Motor Corp. (SZKMF.PK) reported that its first-quarter profit and net sales increased year-on-year. For 2021, the company expects operating profit to decline 12.6% year-on-year, mainly due to shortage of semiconductors, increase of raw material cost, and increase of R&D expenses.
First-quarter profit attributable to owners of parent was 84.8 billion yen compared to 1.8 billion yen, last year. The profit was mainly owing to gain on sale of former Toyokawa plant site of 18.0 billion yen. Operating profit increased to 54.5 billion yen from 1.3 billion yen, owing to increase in sales, especially from sales promotion of inventory models and foreign exchange gains. Earnings per share was 174.52 yen compared to 3.63 yen.
First-quarter consolidated net sales increased to 845.4 billion yen from 425.3 billion yen, prior year which had been seriously impacted by the global Novel Coronavirus pandemic. Automobile business net sales increased 106.5% to 758.8 billion yen. Motorcycle business net sales increased 64.5% to 57.5 billion yen.
For fiscal 2021, Suzuki Motor projects: profit to owners of parent of 150.0 billion yen, operating profit of 170.0 billion yen, and net sales of 3.4 trillion yen.
Copyright RTT News/dpa-AFX
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