Yulon Nissan Posts 133% YoY Increase in 1st-half Earnings

Taipei, Sept. 5, 2012 (CENS)--Thanks to return-on-investment in China, Yulon Nissan Motor Co. of Taiwan's Yulon Group registered net earnings of NT$2.82 billion (US$94.1 million) in the first half, up 132.8% year-on-year (YoY), for cumulative earnings per share (EPS) of NT$9.41 (US$0.31) to make it the most profitable car seller in Taiwan during the period.

Yulon Nissan had first-half revenue of NT$17.35 billion (US$578.5 million), up a fraction YoY, with core revenue (from sales of Nissans and Infinitis in Taiwan) remained flat YoY, but the company's Chinese affiliates, Dongfeng-Nissan Passenger Vehicle Co. and Guangzhou Fengshen Motor Co., Ltd., have been reporting encouraging new-car sales.

Hotai Motor Co. Ltd., agent of Toyotas and Lexus in Taiwan, registered pretax EPS of NT$8.64 (US$0.28) in the first half.

Yulon Motor Co., the flagship of the group and local assembler of Nissan, Luxgen, tobe, had net earnings of NT$2.05 billion (US$68.2 million) in the first half, down 9.2% YoY, for EPS of NT$1.3 (US$0.04).

China Motor Corp. (CMC) of Yulon Group, assembler of Mitsubishis in Taiwan, had revenue of NT$19.6 billion (US$65.4 million), down a fraction YoY, with net earnings of NT$1.44 billion (US$48.1 million), down 3.7% YoY.

CMC pointed out that its operation in the first half was better than that of last year, with ROI less lucrative than a year ago.

Industry analysts are optimistic about Yulon Nissan's operation in the second half, based on Chinese affiliates' reporting of good results. From the second quarter of this year, Yulon Nissan has increased shareholding in Guangzhou Fengshen, a joint venture between Yulon-Nissan and Dongfeng Motor Co. to produce Nissan passenger cars in China.