JVCKENWOOD and Alps Alpine reported sales for the first three quarters of their financial year, which ends March 31, 2024.
JVCKENWOOD said it saw a fall in its aftermarket automotive business and an increase in revenue and profits in the OEM business. It also landed its first Tier 1 OEM order for a North American automaker, Daimler Truck North America. It is supplying two models with 6.95-inch “audio display” units. These include Freightliner and Western Star.
JVCKENWOOD reported its M&T division, which includes aftermarket and OEM car audio, saw a small increase in sales to $990 million, up from $986 million a year ago. Core operating income fell to $21 million, down from $29 million a year ago.
The M&T sector accounts for 59 percent of JVCKENWOOD revenue. The aftermarket represented 17 percent of the M&T sector and OEM represented 35 percent, while an additional 6 percent was represented by “services.”
JVCKENWOOD, reporting for all divisions, said sales rose to $1.8 billion, up from $1.66 billion a year earlier. Net profit fell to $73 million for the period, down from $104 million a year ago. Core operating income rose to $107 million, up from $75 million a year ago, but operating profit fell to $100 million, down from $131 million a year earlier.
ALPS ALPINE
In Alps Alpine’s case, the Module & System division, which includes Alpine, saw increased sales and increased operating income. The gains were mainly due to the recovery in car production and sales and increased new products. Sales for the division rose to $2.8 billion, from $2.4 billion a year ago and operating income swung to a profit of $4.7 million compared to a loss of $34.3 million a year ago.
Total Alps Alpine net sales rose to $5 billion (735.3 billion yen), up from $4.7 billion for the period last year. Operating income fell to $138 million, down from $232 million a year ago and net profit swung to a loss of $137 million compared to a gain of $142 million for the period a year ago.
