Mazda Motor Q1 Sales Surge from Large SUVs

Mazda Motor Corp. (Tokyo 7261) said today that for the first three months of the fiscal year ending 31 March 2024 net sales amounted to ¥1,091.0 billion, an increase of ¥473.8 billion or +76.8% compared to the matching period in the previous fiscal year. Increased sales of the CX-60 and CX-90 in Europe and the US were largely responsible for the Q1 surge. Japanes sales also increased significantly.

Operating income amounted to ¥30.0 billion. (first three months of the previous fiscal year, operating loss was ¥19.5 billion.) Ordinary income amounted to ¥63.9 billion, an increase of ¥43.2 billion or +208.3%. Net income attributable to owners of the parent amounted to ¥37.2 billion, an increase of ¥22.2 billion or 148.3% compared to the previous fiscal year. Basic loss per share was 59.07 yen, compared to profit of 23.79 yen in the prior year.

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Operating income changes (an increase of ¥49.5 billion compared to previous 2022 Q1 fiscal year) were:

• Volume & mix ¥9 billion.
• Foreign exchange ¥8 billion.
• Raw material, logistics costs, etc. (3.3) ¥
• Cost improvement ¥9 billion.
• Fixed costs and others (39.8) ¥
• Total ¥ 49.5 billion.

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Outlook – FY ending 31 March 2024

• Profit down -9% from last year to ¥130 billion or ¥206.32 per share.
• Operating income + 26.8% to ¥180 billion.
• Net sales would grow +17.6% to ¥4.50 trillion.