Official Press Release – Page 32203 – I wish I had more to offer

Subaru Corporation Announces Consolidated Financial Results forthe First Quarter of FYE2020

August 5, 2019

Subaru Corporation Announces Consolidated Financial Results for
the First Quarter of FYE2020

Tokyo, August 5, 2019 – Subaru Corporation today announced its consolidated financial results for the first quarter of fiscal year ending March 31, 2020.

Consolidated global unit sales of Subaru vehicles increased 8.8% to 263,000 units.
Overseas unit sales rose 9.7% to 229,000 units due mainly to growth in the U.S. driven by strong demand for the Ascent and Forester. Unit sales in Japan grew 2.9% to 33,000 units*1, led by the fully-redesigned Forester launched in July 2018 and the Subaru XV which newly added “e-Boxer”-equipped models*2 to its lineup in October 2018.
Consolidated revenue*3 rose 16.0% to 833.4 billion yen due to unit sales growth and other factors.

The Company is voluntarily adopting International Financial Reporting Standards (IFRS) for its consolidated financial statements from the fiscal year ending March 2020 (FYE2020) in place of the Japanese generally accepted accounting principles (JGAAP) previously adopted. The first-quarter and full-year result figures for the previous fiscal year (FYE2019) have been recalculated based on IFRS for comparison and analysis purposes.

Global production rose 8.4% to 262,000 units. Production in Japan increased due to strong demand for the fully-redesigned Forester, which offset an impact of changes in operation schedules at the Gunma plant continuing since the fall of 2018 to ensure quality-first production and inspection work. Overseas production grew significantly due to an increase in output of the all-new Ascent at Subaru of Indiana Automotive Inc. in the U.S.

Operating profit*4 rose 48.4% to 92.2 billion yen as a result of unit sales growth, sales incentive control, decreases in SG&A expenses and R&D expenditures, and other factors. Profit before tax*5 grew 41.0% to 89.3 billion yen. Profit for the period attributable to owners of parent*6 increased 40.1% to 66.5 billion yen.

Full-year forecasts for FYE2020 remain unchanged from the previous announcement made on May 10, 2019.

Forecasts for FYE2020 (Announced on May 10, 2019):
Consolidated global sales of Subaru vehicles: 1,058,000 units
Revenue: 3,310 billion yen
Operating profit: 260 billion yen
Profit before tax: 270 billion yen
Profit for the period attributable to owners of parent: 210 billion yen
Currency rate assumptions: 110 yen/US$, 120 yen/euro

*1: Under IFRS, revenue recognition timing for unit sales in Japan is on a delivery-to-customer basis, whereas it is on a vehicle registration basis under JGAAP.
*2: “e-Boxer” is Subaru’s newly-developed power unit system combining a horizontally-opposed Boxer engine with an electric motor, which offers enhanced environmental performance as well as Subaru’s distinctive driving enjoyment.
*3: “Net sales” in JGAAP is stated as “revenue” in IFRS.
*4: “Operating income” in JGAAP is stated as “operating profit” in IFRS.
*5 “Income before income taxes” in JGAAP is stated as “profit before tax” in IFRS.
*6: “Net income attributable to owners of parent” in JGAAP is stated as “profit for the period attributable to owners of parent” in IFRS.
Note: Vehicle volume figures are rounded off to the nearest thousand.

Forward-looking statements in this document including financial and other forecasts are based on the information available at the time of announcement and are subject to various risks and uncertainties that could cause actual results to vary materially.

[PDF/178 KB]

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ViaVan Launches App for New First/Last Mile Service with BVG in Brandenburg

Published August 2, 2019 9:00 am, Via NYC
ViaVan Launches App for New First/Last Mile Service with BVG in Brandenburg
Powered by ViaVan and operated by BVG, BerlKönig BC will provide citizens in rural communities outside of Berlin access to mass transit going into the city

2 August 2019 (BERLIN) — ViaVan, Europe’s leading provider of on-demand public mobility solutions, today announced a new public transportation deployment on behalf of Berliner Verkehrsbetriebe (BVG). Dubbed “BerlKönig BC”, the new BVG service powered by ViaVan’s technology will provide an innovative first-and-last-mile connection to U-Bahn railway stations traditionally underserved by fixed route services. BerlKönig BC is the second service ViaVan and BVG have worked on together, following on the heels of their groundbreaking BerlKönig service, which launched in central Berlin in September 2018.

“We are thrilled to expand our partnership with BVG with the launch of BerlKönig BC,” said Chris Snyder, CEO of ViaVan. “This service is an exciting example of how public transportation and technology can work together to make a city smarter, extend access to public transit, and reduce single-occupancy vehicle trips.”

Riders will be able to pre-book rides directly through the BerlKönig BC mobile app up to one month in advance, and the fleet includes wheelchair accessible vehicles.

The project is funded by the National Federal Clean Air Program, which was established to find immediate solutions to harmful carbon emissions across Germany. ViaVan was selected to power the service in part due to the exceptional performance the partners’ debut BerlKönig service. Operating in central Berlin, the BerlKönig has delivered more than 750,000 rides in its first 10 months. More than 80% of BerlKönig rides have two or more passengers in the vehicle at the same time, up to 97% at peak times.

ViaVan powers a similar first-and-last mile service in the UK with bus operator Arriva in the rural town of Sittingbourne with a high number of commuters who rely on a nearby train line. Launched in 2018, ArrivaClick has seen more than 50% of its passengers switch from private vehicle use to shared transport to connect to the commuter train line. ViaVan and Arriva have also launched ArrivaClick in Liverpool and Leicester as microtransit services with connections to public transit. In London, ViaVan recently partnered with Transport for London (TfL) and Go-Ahead for a demand-responsive bus pilot aimed at reducing private vehicle use for access to public transit in the borough of Sutton on the outskirts of the city. Later this year, ViaVan will launch a service with HSL (Helsinki Regional Transit Authority) for on-demand shared transit in Espoo, part of the Helsinki capital region, to provide efficient public transit connections for commuters and Espoo residents.

Globally, ViaVan and parent company Via, have been tapped by cities and transportation players around the world to help re-engineer public transit from a regulated system of rigid routes and schedules to a fully dynamic, on-demand network. Via and ViaVan now have more than 80 launched and pending deployments in nearly 20 countries, providing more than 60 million rides to date.

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About ViaVan:
ViaVan is a leading provider of innovative on-demand shared transit services in Europe. ViaVan was founded in 2017 as a joint venture between Via, the world’s most sophisticated developer of dynamic shared rides technology, and Mercedes-Benz Vans, the leading manufacturer of iconic passenger and cargo vans. Working closely with cities and public transit operators, ViaVan powers dynamic shared mobility services that complement existing transportation infrastructure. ViaVan currently operates direct-to-consumer services in London, Amsterdam, Berlin and Milton Keynes. Through their partnership, Mercedes-Benz Vans and Via are also collaborating on the development of advanced mobility solutions, from sensor technology, to electric vehicle fleet management, to autonomous driving.

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BP and Didi Chuxing to develop a network of EV charging hubs across China through new joint venture

LONDON, 2-Aug-2019 — /EuropaWire/ — BP have agreed to form a new joint venture to build electric vehicle (EV) charging infrastructure in China with Didi Chuxing, the world’s largest market for electric vehicles. Both companies plans to develop a network of EV charging hubs across China.

Didi is the world leader in multi-modal transportation platform. The company offers full range of app-based options, including ride-hailing, automobile solutions sharing, and other services. Currently, DiDi provides ride-hailing services in Brazil under the 99 brand, operates DiDi-branded mobility services in Mexico, Chile, Colombia and Australia, and provides taxi-hailing service in Japan through a joint venture. Approximately 550 million users and around 600,000 EVs are running on its platform in China. DiDi is committed to solve the world’s transportation, environmental and employment challenges with smart transportation innovations.

BP operates its fuels retailing and convenience business in 18 countries globally. BP has over 18,700 retail sites and with rapidly-growing presence in China.

The joint venture will provide EV charging services to DiDi’s drivers and the public with the development of standalone, high-quality and reliable charging hubs. The partners also plans to expand the partnership into loyalty and convenience offerings and other fleet services in the near future.

“As the world’s largest EV market, China offers extraordinary opportunities to develop innovative new businesses at scale and we see this as the perfect partnership for such a fast-evolving environment. The lessons we learn here will help us further expand BP’s advanced mobility business worldwide, helping drive the energy transition and develop solutions for a low carbon world.”

“Combining BP’s global retail capability, EV charging expertise and experience with DiDi’s unrivalled mobility service platform, our partnership will aggregate demand and provide high-quality, fast, reliable and safe charging for DiDi drivers and the public in China. DiDi is already converting to electric vehicles and has a very large user base, so we expect to drive high utilisation of charging assets from Day One,” commented Tufan Erginbilgic, BP’s Downstream chief executive.

“We look forward to combining our strengths to create a robust EV charging network for China, promote the growth of the new energy automotive industry, and provide better experience for car owners across the country,” commented Cheng Wei, Chairman and CEO of DiDi.

The venture aims to expand rapidly, with an ambition to quickly become the leading EV charging provider in China. The companies already opened a pilot site in Guangzhou in the Guangdong province that has ten fast-charging units, ranging from 60-120kW. The site will join the joint venture once live.

China has around 50% of the world’s battery electric vehicles today, it is the world’s largest and fastest-developing EV market. Around 80% of EV charging in China is expected to be done at destination, forecourt and fleet hub charge points by 2030.

BP started the roll out of ultra-fast chargers at sites in the UK following the acquisition in 2018 of BP Chargemaster, the UK’s leading electric vehicle charging company. The company also invested in StoreDot, an innovative fast-charging battery technology firm. BP is committed to be the leader in providing fuel for both conventional and electric vehicles in its businesses worldwide.

In January 2019, BP invested in leading integrated hardware and software solutions provider for electric vehicle (EV) charging in China, PowerShare. PowerShare offers an online platform connecting EV drivers, charge point operators and power suppliers. In July 2018, BP invested $10 million in the NIO Capital US Dollar Fund to support the fund’s work exploring opportunities in China’s new energy vehicle ecosystem.

“China offers tremendous growth opportunities for BP. Partnering with DiDi enables BP to actively contribute to China’s fast-growing EV charging market with differentiated offers, and also to further expand our business footprint in the country,” said Xiaoping Yang, BP China chairman and president.

Image:

For press information:

BP press office, China: +86 (0)10 6589 3878, bpchinapress@bp.com
BP press office, London: +44 (0)20 7496 4076, bppress@bp.com

SOURCE: BP p.l.c.

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