Japan’s top manufacturer of outboard motors, personal watercraft, and boats reported a 4% increase in marine revenues for the first nine months of 2019, and confirmed the company’s outlook for year-end results
Following announcement of third quarter results and its end-of-year forecast, Yamaha Motor’s share price jumped 13% to €19.26, the highest value since April 2019. Yamaha Motor is listed on the Frankfurt stock exchange, with share prices ranging from €13.61 to €19.58 over the past 52 weeks.
Yamaha Motor’s Marine sales were ¥274.2 billion (€2.3bn) – an increase of 4.1% compared with the same period the previous fiscal year – due to increased production of large outboard motors and “healthy sales” of personal watercraft (PWC) and sports boats. The company also noted that unit sales of high-end outboard models exceeding 200hp increased in both North America and Europe. Operating income for the Marine division was up as well by 2.6% to ¥52.0 billion.
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