OSAKA, Japan (June 23, 2020), Yanmar Holdings today announced its financial results for the 12-month period to March 31, 2020.
Consolidated Results for Fiscal Year 2019
Revenues for FY 2019 were 795.5 billion JPY, a 0.1% decrease from the previous year (796.6 billion JPY). Ordinary income was 15.7 billion JPY, a 12.9% increase from the previous year (13.9 billion JPY).
FY 2019 Consolidated Results (millions JPY)
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(% indicates percentage increase/decrease from previous year)
With Brexit and the intensifying trade war in the United States and China, uncertainties in the global economy increased in FY2019. In addition, the global spread of COVID-19 caused the global economy to slow due to regional lockdowns and stay at home advisories that impacted on economic activities.
In FY2019, gross sales of the small engine business in the overseas markets was sluggish in Europe due to the impact of a peak in demand in the previous year, but overall sales increased due to strong demand in North America. However, revenue of the agricultural business in overseas markets was sluggish in China and Southeast Asia due to effects of a slump in the tractor market. As a result, sales from overseas business decreased.
For the Japanese market, construction machinery business revenue declined slightly due to a delay in the supply of some parts due to the impact of typhoon No. 19, while agricultural business sales increased due to a spike in demand before the consumption tax hike. Sales in the energy system business increased due to strong demand in school air conditioning and disaster prevention measures. As a result, sales from the Japanese market increased. Although Yanmar Group's performance was affected by the expansion of COVID-19 in the 4th quarter, the decline in overseas revenues were offset by the increase in Japanese revenues.
Outlook for Fiscal Year 2020
While we usually disclose our business outlook together with our financial results, due to the recent spread of COVID-19, future demand trends are uncertain and it is difficult to make a reasonable estimate of future business results at this time. Therefore, we shall withhold our consolidated business outlook for FY2020 and will release it when it again becomes possible to make reasonable estimations.
With beginnings in Osaka, Japan, in 1912, YANMAR was the first to succeed in making a compact diesel engine of a practical size in 1933. Moving on, with diesel engines as the cornerstone of the enterprise, YANMAR has continued to expand its product range, services, and expertise to deliver total solutions as an equipment manufacturer. As a provider of small and large combustion engines, agricultural machinery and facilities, construction equipment, energy systems, marine, machine tools and components – YANMAR’s global business operations span seven domains.
On land, at sea, and in the city, YANMAR’s mission of “providing sustainable solutions focused on the challenges customers face, in food production and harnessing power, thereby enriching people’s lives for all our tomorrows,” stands testament to YANMAR’s determination to providing us with “A Sustainable Future.” For more information, visit us at https://www.YANMAR.com/eu/About-Us/.