Johnson Controls' second-quarter net profit soared by nearly 60% year-on-year

Johnson Controls recently released its performance report for the second quarter of fiscal year 2014 (January to March 2014) and the first half of fiscal year, thanks to the growth of auto parts and other parts and components in major markets, Johnson Controls Quarterly net profit soared by nearly 60% year-on-year.

In the second fiscal quarter, Johnson Controls’ operating income totaled US$10.46 billion, an increase of 3.6% year-on-year. Net profit available to shareholders of the company surged from US$164 million in the same period last year to US$261 million, a year-on-year increase of 59.1%. .

Judging from the overall performance of the first half fiscal year (October 2013 to March 2014), Johnson Controls’ cumulative operating revenue reached US$21.04 billion, up 4% year-on-year; net profit surged 39.6% year-on-year to US$730 million. .

Second-quarter performance of each business group

Thanks to the increase in car production in various regions of the world, the automotive interiors group’s operating income reached US$5.6 billion in the previous quarter, up 11% year-on-year; the Chinese market contributed US$1.6 billion in revenue for the sector in the quarter. The growth rate reached 25%. These revenues mainly come from the seat business and non-merger joint venture companies.

The automotive interiors group's operating profit in the previous quarter soared from US$74 million in the same period last year to US$241 million, an increase of up to 226%; this increase was also mainly due to the seat business, with a profit of US$236 million, and the interior trim business. The profit was nearly 5 million U.S. dollars, but it has improved from the loss of 20 million euros in the same period of last year.

Power Solutions Group’s revenue for the second fiscal quarter reached US$1.6 billion, which was basically the same as in the same period of last year. The operating profit of the division in the previous quarter fell by 5% year-on-year and fell to US$236 million.

In addition, the Johnson Controls Building Facilities benefit group’s operating income for the quarter increased by 5% year-on-year to US$3.3 billion; sector operating profit climbed 9% year-on-year to US$152 million.

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