JVCKenwood, Alpine Report Full Year Results

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Alpine-JVCKenwood

JVCKenwood saw higher sales and profits for its full fiscal year 2018 which ended in April.

Alpine, which recently merged with Alps to become Alps Alpine, saw better sales and operating income its Automotive Infotainment sales (mainly Alpine), but lower results in its components sales (mainly Alps).  Total profits for Alps Alpine fell by more than half for the fiscal year ending in April.

For Alps Alpine total profits fell to $200 million from $430 million a year ago. Net sales dipped to $7.7 billion (851.3 billion yen) compared to $7.8 billion a year ago.

But in Automotive Infotainment, sales rose to $2.7 billion, up from $2.4 billion a year ago and operating income rose to $126 million from $124 million a year ago. The company, however, experienced higher expenses from royalties and warranties in Automotive Infotainment, it said.

For JVCKenwood, total revenue rose slightly to $2.76 billion (over 307 billion yen), up from $2.7 billion last year. Total profits rose to $34.6 million, up from $21.5 million last year.

Operating income rose to $65 million, up from $62 million a year ago.

The automotive sector of JVCKenwood, however, saw a decline in revenue and operating income.  Sales fell to $1.52 billion, from $1.54 billion a year ago and operating income fell to $51 million, down from $68 million a year ago.

JVCKenwood also took an impairment loss of about $9 million on outdated equipment and assets, mainly in its Professional Systems Business but also, to a lesser extent, in its OEM Automotive sector.   In the case of its Professional Systems Business, the company said it is shifting to higher value and higher end products.

Pioneer no longer reports its financial results as it is now part of a private company, having been purchased by Baring Private Equity Asia.

 

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