Suzuki announced the financial results for the first quarter of the 2022 financial year (which in the Japanese system relates to the period April – June 2022). In short, the net turnover and the operating result recorded an increase on an annual basis mainly due to the improvement of the mix / sales price, with an increase in volumes, especially in India, and the impact of exchange rates. However, on the other side of the coin, the brand has had some difficulties in Europe.
Net sales grew by 1.7 billion yen (1.7 million euros) (+ 25.8%) on an annual basis, reaching 1,063.4 billion yen (8.2 billion euros), marking a record in all quarters. Net sales on the domestic market decreased on an annual basis, due to the impact of the decline in production. However, net foreign sales increased of 224.5 billion yen (1.7 billion euros) (+ 39.2%) on an annual basis, reaching 797.0 billion yen (6.1 billion euros). Operating profit grew by 20.0 billion yen (153.8 million euros) (+36.8) on an annual basis, reaching 74.5 billion yen (573.1 million euros), mainly thanks to the increased sales which offset the rise in raw material prices.
In automobile division net sales increased by 181.3 billion yen (1.4 billion euros) (+ 23.9%) on an annual basis, reaching 940.1 billion yen (7.2 billion euros), thanks in in particular to the increase in volumes in India. The operating result recorded an increase of 14.4 billion yen (110.8 million euros) (+ 34.2%) on an annual basis, reaching 56.4 billion yen (433.8 million euros), thanks mainly to the increase in sales which offset the increase in the prices of raw materials. In Europe there were more difficulties: with very long waiting times, Suzuki struggled more than expected to keep up with the good results of 2021.
In Japan, both net sales and operating income increased, in particular thanks to more favorable exchange rates and export growth. In Africa, both net sales and operating income grew, while in Europe net sales and operating profit decreased due to decrease in volumes due to the lack of supply of products.
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