Suzuki has just published its financial results for the third quarter of fiscal year 2024, announcing growth in revenues and profits, particularly in its marine segment.

On the basis of these results, Suzuki has revised upwards its full-year forecast, expecting total revenues of €34.2 billion, compared with €33.6 billion in its previous estimate. Annual net profit is now expected to be €2.22 billion, compared with €2.10 billion initially forecast.

In the marine segment, Suzuki posted quarterly revenues of €137.4 million, down from €168.0 million in the third quarter of 2023. Operating profit was €31.2 million, down 22% year-on-year, with a margin of 23%.

However, for the first nine months of the year, operating profit for the maritime segment rose by 4% to €133.8 million, although cumulative revenues fell by 5% to €477.0 million. By region, revenues from the maritime segment were down 4% in Japan, 7% in North America, stable in Europe and up 50% in India.

In the period to 31 December 2024, Suzuki generated consolidated revenues of €25.7 billion, up 11% on the €23.0 billion recorded in the third quarter of the previous year. This is the fourth consecutive quarter of growth for the company.

Operating profit reached 2.88 billion euros, up 29% on the 2.23 billion euros recorded a year earlier. This increase is mainly attributable to favourable exchange rates and lower raw materials costs. The operating margin also improved, from 9.7% to 11.2%. Net profit rose by 31% to €1.87 billion, compared with €1.42 billion the previous year.