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Mitsubishi Motors Corporation (MMTOF) Q2 2024 Earnings Call Transcript Summary

Futu News ·  Nov 2 14:29  · Conference Call

The following is a summary of the Mitsubishi Motors Corporation (MMTOF) Q2 2024 Earnings Call Transcript:

Financial Performance:

  • Q2 FY 2024 reported a decrease in net sales by 2% year-on-year to ¥1307.4 billion.

  • Operating profit decreased 13% year-on-year to ¥90.7 billion and the operating profit margin dropped to 6.9%.

  • Ordinary profit decreased by 43% year-on-year to ¥69.2 billion, primarily due to Forex losses.

  • Net income after tax was reported at ¥38 billion.

Business Progress:

  • Mitsubishi Motors witnessed a 5% year-on-year increase in global retail sales to 408,000 units.

  • They launched new models like XForce and Triton in various regions, enhancing market share.

  • Announced the release of a new-generation Outlander PHEV and introduction of the Mitsubishi DST Concept, a midsize SUV.

  • Plans to further expand and strengthen the brand globally with new model launches in strategic regions.

Opportunities:

  • Positive response to new model launches in key regions such as Vietnam and the Philippines indicating strong growth markets.

  • Expansion in emerging markets by embracing new SUV models and broadening market presence.

Risks:

  • Economic slowdown and delay in demand recovery in key ASEAN markets like Thailand and Indonesia.

  • Increased market competition and high incentives particularly noted in the U.S. market impacting profitability.

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.

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