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Successful financial year end results in 2006 for MSC

Having followed a dynamic increase of last years, Magyar Suzuki Corporation managed again to achieve excellent results in financial year 2006.

The company held its annual General Assembly in Esztergom with its shareholders where the Assembly accepted the financial results of 2006. MSC produced 163.963 units in 2006, against 136.341 in 2005, which means an increase of 20,26 %. Total sales of the company in 2006 are 158.934 units. Suzuki sold 31.458 units of own produced cars in the domestic market including 16.078 units of Swift, 9,050 units of Ignis and 6.330 units of SX4.

Total domestic sales resulted in 32.638 units, including sales from import on domestic market, which are 1180 units. The 163.963 cars rolled down the production line in 2006 shows a balanced, 20,26% increase in unit number compared to 2005 and the company plans to exceed unit no. by 37,8% in 2007. The achievement of the company also resulted in the total net sales revenue of 415.284.405 thousand forint, which is a 6,96% increase, compared to the originally planned sales results. Total sales of both export and import are 158.934 units.

The company managed to maintain strong market leading position with the market share in the domestic fields of 17,4 %, which resulted in net domestic sales of 80.391.301 thousand forint. Suzuki sold 31,458 own produced automobiles in the domestic market out of which 16,078 Swift, 9,050 Ignis and 6,330 SX4 were sold. The export sales numbers also reflect a great achievement with the total sales of 127,476 units of own produced cars including 56,613 Swift, 19,628 Ignis and 51,235 SX4/Sedici models. The net export and EU sales resulted in 334.893.104 thousand forint in 2006.

Further sales of import vehicles on export markets are 4101 units which includes WagonR 3432 units abroad. The overall sales results of MSC were divided as follows: 17% were domestic sales, while 83% were due to the export. Series of investments from recent years founded a stable base for the long-term production and the company also plans a firm and continuous growth in production for 2007. In 2006 the acquisition base investment purely on expansions was Ft 31,7 billion.

While this year the company plans further capacity expansions at the amount exceeding Ft 50 billion, which will be devoted to the modernization and expansion of the factory as well as equipment/tools of Suzuki at its suppliers. The necessary material investments will affect all production units but the company will also devote a significant amount on the new model’s trial production planned for the Q4 of this year.

In year 2006, Magyar Suzuki Corporation production could be proud of the introduction of new model, SX4 as well as the produced one-millionth car in October, which rolled down the assembly of Esztergom factory. Capacity increase in human resources at the company also supported the results: 4800 employees worked at MSC by the end of 2006 but in order to sustain the dynamic increase in 2007 further 1000 persons will be employed throughout this year. The Assembly also approved the appointment of Isao Ozawa to the Managing Director position.