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.
