Yulon Nissan Motor Co. expected that FY19 auto market may stay flat

Yulon Nissan Motor Co. (2227-TW) held an investors conference today on May 21st. General Manager Leman Lee told that as the year of election year has come, the overall auto market may not be too good. He estimated that FY19 auto market may stay flat and the sales may be around 420,000 units. On the other hand, although China market may be affected by the US-China trade war, the company is catalyzed by the non-operating investment gains in China. Therefore, he held a relatively optimistic outlook.

Yulon Nissan Motor Co."s 1Q19 consolidated revenue was NTD8.836bn (+5.7% YoY). Its 1Q19 gross profit was NTD1.503bn (-9.5% YoY). Its 1Q19 operating profit was NTD368mn (-14% YoY). However, catalyzed by the non-operating investment gains, its 1Q19 net profit was NTD15.14bn (+36% YoY), with EPS of NTD5.05. Lee told that catalyzed by the revenue contribution from China, its FY19 profit is expected to stay flat YoY.