19th June 2015
TOYOTA AUSTRALIA POSTS PROFIT FOR 2014/15 FINANCIAL YEAR
Toyota Australia has reported an after tax profit of $194 million (2013/2014: after tax loss of $437 million) for the year ending 31 March 2015.
Major factors contributing to these results were strong local and export vehicle sales, with 264,947 Toyota and Lexus vehicles sold in 2014/2015, and efficient cost management.
The company incurred $66 million of restructuring costs this financial year due to the 2014 announcements that Toyota Australia would stop manufacturing and consolidate its corporate operations by the end of 2017.
It is expected that impairments relating to asset write downs and provisions for redundancy payments will continue right up until the end of 2017.
Toyota Australia President Dave Buttner said the positive results were a credit to all of the company's employees.
"Despite some difficult announcements during the past 12 months, our employees have continued to be committed and passionate," Mr Buttner said.
"It's been extremely pleasing to see everyone working together, especially as the company prepared for last month's launch of the new-look Camry."
Mr Buttner said Toyota's locally built vehicles, the Camry, Camry Hybrid and Aurion, contributed strongly to last year's sales figures.
"We are pleased that our vehicle line-up continues to appeal strongly to Australian motorists," Mr Buttner said.
"Toyota has again retained its overall market leadership for the twelfth consecutive year and our Corolla topped the national sales chart for the second year running."
Toyota Australia employs approximately 3,900 people across Australia. Its corporate headquarters is located in Port Melbourne, Victoria.
...ends/73440
Major factors contributing to these results were strong local and export vehicle sales, with 264,947 Toyota and Lexus vehicles sold in 2014/2015, and efficient cost management.
The company incurred $66 million of restructuring costs this financial year due to the 2014 announcements that Toyota Australia would stop manufacturing and consolidate its corporate operations by the end of 2017.
It is expected that impairments relating to asset write downs and provisions for redundancy payments will continue right up until the end of 2017.
Toyota Australia President Dave Buttner said the positive results were a credit to all of the company's employees.
"Despite some difficult announcements during the past 12 months, our employees have continued to be committed and passionate," Mr Buttner said.
"It's been extremely pleasing to see everyone working together, especially as the company prepared for last month's launch of the new-look Camry."
Mr Buttner said Toyota's locally built vehicles, the Camry, Camry Hybrid and Aurion, contributed strongly to last year's sales figures.
"We are pleased that our vehicle line-up continues to appeal strongly to Australian motorists," Mr Buttner said.
"Toyota has again retained its overall market leadership for the twelfth consecutive year and our Corolla topped the national sales chart for the second year running."
Toyota Australia employs approximately 3,900 people across Australia. Its corporate headquarters is located in Port Melbourne, Victoria.
...ends/73440