Despite a decrease in demand due to the impact of the COVID-19 pandemic, consolidated operating profit for the fiscal first half amounted to
Consolidated operating profit for the fiscal second quarter amounted to
Concerning the current fiscal year forecast, although the future outlook remains uncertain due to the impact of COVID-19, the forecast for consolidated operating profit was revised upward to
Quarterly dividend for the fiscal second quarter will be
I. Consolidated financial summary for the fiscal first half (6 months) ended
Sales revenue:
The decrease was due primarily to a decrease in sales revenue from all businesses as a result of the impact of the COVID-19 pandemic.
Operating profit:
The improvement was made due primarily to control of SG&A expenses and cost reduction efforts. This was despite a decrease in profit related to changes in sales revenue and model mix.
Profit before income taxes:
Profit for the period attributable to owners of the parent:
(a year-on-year decrease by 56.6%)
II . Consolidated financial summary and business-by-business results for the fiscal second quarter (3 months) ended
Sales revenue:
The decrease was due primarily to a decrease in sales revenue from automobile businesses and unfavorable foreign currency translation effects.
Operating profit:
The increase was due primarily to control of SG&A expenses and cost reduction efforts. This was despite a decrease in profit related to changes in sales revenue and model mix.
1)Motorcycle business
Sales revenue:
Although sales are recovering in many countries, sales revenue experienced a year-on-year decrease due primarily to unfavorable currency effects.
Operating profit:
The improvement was made due primarily to control of SG&A expenses and cost reduction efforts. This was despite a decrease in profit related to changes in sales revenue and model mix.
2)Automobile business
Sales revenue:
Although sales are gradually recovering in many countries as restrictions on economic activities are being lifted, sales revenue experienced a year-on-year decrease due to a decrease in sales mainly in
Operating profit:
The increase was made due primarily to control of SG&A expenses and cost reduction efforts. This was despite a decrease in profit related to changes in sales revenue and model mix. The operating profit margin also improved.
3)Financial Services business
Operating profit:
The increase was due primarily to a decrease in credit losses related to automobile sales.
4)Life Creation (power products) and Other businesses
Operating loss:
(operating profit experienced a year-on-year decrease by
The decrease was due primarily to a decrease in profit related to changes in sales revenue and model mix. Aircraft and aircraft engine business, which is included in other businesses, accounted for operating loss of
III. Forecasts for the Fiscal Year Ending
The forecast for consolidated operating profit for FY21 was revised upward from the previously announced
Consolidated Financial Results for the Fiscal 2nd Quarter: See full results at:
https://global.honda/newsroom/news/2020/c201106eng.html
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