Subaru Corporation unveils combined financial outcomes for FYE 2024

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Presently, Subaru Corporation made public its merged financial outcomes for the annual period closing on March 31, 2024.

FYE 2024 Outcomes: Merged Income

Notwithstanding prolonged challenges in part supplies, especially concerning semiconductors, and logistical hurdles, the repercussions were alleviated through various undertakings, including adaptable adjustment of production schemes. Consequently, worldwide manufacturing saw a surge of 10.9%, amounting to 970,000 units.

Manufacturing in Japan escalated by 4.7% to 602,000 units, while U.S. production spiked by 23.0% to 368,000 units. This augmented production led to a 14.5% increase in global unit transactions, predominantly driven by constant sales in the pivotal North American sector.

Aggregate revenue recorded a boost of 24.6%, reaching 4,702.9 billion yen, attributed to factors such as the rise in sales and the favorable influence of currency exchange rates.

FYE 2024 Outcomes: Merged Earnings and Expenditure

With elements like heightened sales and the beneficial impact of currency exchange rates outweighing the escalation in SG&A costs, operational profit skyrocketed by 75.0% to 468.2 billion yen. Pre-tax income surged by 91.3% to 532.6 billion yen, and profit for the duration ascribed to parent owners grew by 92.1% to 385.1 billion yen.

Projection for FYE 2025

The estimation for global unit sales stands at 980,000 units (a 0.4% year-on-year increase), with substantial transactions projected particularly in the pivotal U.S. market.

While reducing SG&A costs are on the horizon, the enterprise forecasts a revenue of 4,720 billion yen (up 0.4% year-on-year), operational profit of 400 billion yen (down 14.6% year-on-year), pre-tax income of 420 billion yen (down 21.1% year-on-year), and profit for the period allocated to parent owners of 300 billion yen (down 22.1% year-on-year). This reflects escalated R&D expenses and marketing incentives, in addition to the effects of currency exchange rates.

Forecasts for FYE 2025 are built on the premise of exchange rate assumptions, pegging at 142 yen against the U.S. dollar and 153 yen against the euro.

Footnotes on the figures in the outcomes:

Vehicular quantity figures are approximated to the closest thousand. Yen figures are approximated to the nearest hundred million.

Forthcoming declarations in this communiqué, comprising financial and other predictions, rely on information accessible at the time of issuance and are exposed to numerous risks and uncertainties that might result in actual outcomes deviating significantly.

Reference for FYE 2024 Merged Financial Outcomes