Friday, May 25, 2001

Financial Results, Projection

Mazda Motor Corporation announced a net loss of 155.2 billion yen (US$1.3 billion, 1.4 billion euro) for FY2000 (April 1, 2000-March 31, 2001). The company also announced its financial projection for FY2001 (April 1, 2001 through March 31, 2002), reaffirming its plans to achieve consolidated net breakeven.

Mazda's consolidated revenue was 2,015.8 billion yen (US$16.3 billion, 18.5 billion euro), down 6.7% from the previous fiscal year. This decrease was primarily because of the adverse impact of a strong yen and lower sales of vehicles, parts, and components. Operating loss was 14.9 billion yen (US$120 million, 137 million euro). Ordinary loss was 29.7 billion yen (US$240 million, 272 million euro).

Consolidated cash flow was 52.2 billion yen (US$421 million, 479 million euro), reflecting management's continued focus and commitment to strengthen Mazda's financial structure. As a result, the company reduced consolidated net debt by 52.4 billion yen (US$423 million, 481 million euro), with a balance at year end of 484.6 billion yen (US$3.9 billion, 4.4 billion euro).

Non-consolidated revenue totaled 1,322.7 billion yen (US$10.7 billion, 12.1 billion euro). Operating loss was 31.3 billion yen (US$252 million, 287 million euro), and ordinary loss was 32.3 billion yen (US$260 million, 296 million euro). Net loss was 127.5 billion yen (US$1 billion, 1.2 billion euro).

Non-consolidated cash flow was a positive 5.9 billion yen (US$48 million, 54 million euro).

Financial Projection for FY2001 (Consolidated)
Mazda is committed to achieve consolidated net breakeven and a positive cash flow in FY2001, the first full year of the Millennium Plan.

In Japan, Mazda projects a slight increase in industry sales of 0.5%, to 6 million units. Overseas, a decline of 4.9% is projected for the U.S. industry and a decline of 2.4% for Europe.

Mazda forecasts an exchange rate on average of 115 yen against the U.S. dollar and 110 yen against the euro.

Under these conditions, our projection of consolidated financial results for the FY2001 is as follows:
Sales revenue: 2,140 billion yen (US$17.3 billion, 19.6 billion euro)
Operating profit: 17 billion yen (US$137 million, 156 million euro)
Ordinary profit: 2 billion yen (US$16 million, 18 million euro)
Net income: Breakeven
Cash flow: 5 billion yen (US$40 million, 46 million euro) including payouts required for the Early Retirement Special Program and funds to support an aggressive product plan

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