Toyota Australia announces 2012/13 financial year results
Jun 11, 2013 By Toyota Australia.
Toyota Australia has reported a profit of $220.9 million (after tax $149.1 million) for the year ending 31 March 2013.
Total revenue for 2012/13 was $8.9 billion, up almost 23 per cent on the previous year, while domestic retail volume of both Toyota and Lexus vehicles was more than 20 per cent higher with 225,599 sales in 2012/13. This rise can be attributed to the return to full production following the impact of the Japan earthquake and Thailand floods during the 2011/12 period.
Toyota Australia vehicle production was up almost seven per cent in 2012/13 with 99,441 vehicles built compared to 92,880 the previous year. A total of 69,676 of these vehicles were exported to the Middle East, New Zealand and the South Pacific Islands.
Toyota Australia President and CEO Max Yasuda said the company continues to introduce exciting new product offerings for Australian motorists, consistent with Toyota's global vision to provide customers with 'always better cars'.
'Our products have contributed to our continued growth. Last year we introduced three brand new vehicles the Prius c, Prius v and the 86 sports car along with many next generation vehicles, all of which appealed to Australian customers,' Mr Yasuda said.
'Our locally built Camry, Camry Hybrid and Aurion vehicles continue to sell well in both domestic and export markets. This demonstrates we are building high quality and durable vehicles that Australian motorists want to buy and enjoy, with the Camry being the best selling vehicle in its segment for 19 years in a row.'
The company also adopted new technology to cement its status as a world class manufacturer.
'We opened a new $330 million engine plant late last year, becoming the first Australian manufacturer to produce both petrol and hybrid engines. This has opened new export opportunities with Thailand and Malaysia and allowed us to enhance our local manufacturing capabilities,' Mr Yasuda said.
Another factor contributing to the profit is Toyota Australia's company-wide transformation plan established to strengthen its business.
Mr Yasuda said the company was 15 months into a five-year plan developed in response to ongoing external challenges including the high Australian dollar, intense market competition and the high cost of materials. The main objective of the plan is to secure a solid foundation for future growth in Australia.
He added the financial results showed the company's transformation progress was on track, but cautioned more work needed to be done to achieve challenging targets.
'Our business is being radically changed to counter both internal and external pressures impacting us. We are doing everything we can to strengthen Toyota Australia and ensure our long term future in this country as an importer and manufacturer.'
Toyota Australia employs approximately 4200 people across Australia. Its corporate headquarters is located in Port Melbourne, Victoria, and its manufacturing plant is in Altona, Victoria.