Toyota posts cut profit but says optimistic for next year

Toyota is publishing results on Wednesday that exceed its expectations for the previous year 2022-2023, which ended March 31. Its annual net profit reached 2,451.3 billion yen (or 16.5 billion euros at current prices). However, it fell by 15% due to the increase in the cost of its raw materials. The world’s leading manufacturers are undeterred, however, and are optimistic about the upcoming financial year of 2023-2024.

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It now expects a 5% return in its net profit in 2023-2024, to 2.580 billion yen and an increase in its operating profit of 10%, to 3.000 billion yen, against 2.725 billion yen in 2022-2023 (ie -9% more than a percent). one year).

Less emphasis on raw materials and semiconductors

To improve its results, the manufacturer is betting on the reduction of the global shortage of semiconductors, the improvement of its production capacity and the average costs of raw materials to counter the negative effects of the exchange rate expected in 2023-2024. following the rise of the yen. .

Toyota also intends to maintain its sales pace in its next financial year at 11.38 million vehicles, including all group brands (Toyota, Lexus, Hino and Daihatsu). That’s an expected increase of 7.8%, after 1.2% in 2022-2023 on 10.55 million units sold.

Column electricity

To increase its sales in the coming years, the group Toyota wants to electrify its vehicle brands by launching ten new battery-electric (BEV) models by 2026. IN On this deadline, Toyota plans to sell 1.5 million 100% electric cars per year then 3 million in 2030. Juggernaut is behind so far with less than 25,000 units of 100% electric cars.

In total, the manufacturer predicts annual sales of 38,000 billion yen (256 billion euros at current prices) in the coming year. This would represent an increase of 2.2% compared to 2022-2023, a financial year in which sales have already increased by 18.4%.

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Buoyed by its strong results and positive outlook, Toyota has also announced an annual share buyback plan of up to 150 billion yen, as well as a larger than usual increase in its dividend (60 yen per share for the previous fiscal year. , ie + 15% compared to 2021-2022). Toyota shares rose +0.78% at the end of the session on the Tokyo Stock Exchange