Japanese crane and aerial lift manufacturer Tadano has posted a solid pick up in the first quarter to the end of June, driven by mobile crane exports.
Total revenue for the three months was ¥77.7 billion ($567 million), up nine per cent from the same period last year. Of this ¥15.99 billion (116.7 million) was generated in Japan, a 22 per cent drop last year, while exports improved 21 per cent to ¥61.7 billion ($450 million). Pre-tax profit came in at ¥2.3 billion ($16.9 million) down from ¥11 billion ($80.3 million) last year, however, that included a one-off exceptional gain, without which the underlying profit was only ¥427 million ($3.1 million) so compared to that this year’s result is a five-fold increase.
Sales breakdown by product
- Mobile cranes ¥53.1 billion ($387.6 million) +12.1% (Mobile crane sales – truck cranes, All Terrains and Rough Terrains – in Japan declined 32 per cent to ¥5.26 billion ($38.4 million). While mobile crane exports increased 20.7 per cent to ¥47.84 billion ($349.1 million) driven largely by Europe and North America.)
- Loader cranes ¥3.94 billion ($28.8 million) (-22.6%)
- Aerial work platforms ¥3.1 billion ($22.9 million) (-13.8%)
- Other revenues ¥17.56 billion ($127.4 million) +15.2%
- Total ¥77.7 billion ($567 million) +9%
Mobile crane sales breakdown by geographic region
- Europe ¥16.85 billon ($123 million) +20.7%
- North America ¥26.5 billion ($193.4 million) +44%
- South America ¥2.33 billion ($17 million) +284%
- Asia ¥6.6 billion ($48.2 million) +8.6%
- Middle East ¥2.34 billion ($17.1 million) (-34.9%)
- Other areas ¥7.03 billion ($51.4 million) (-13.6%)
The Full-year forecast
The forecast for the 12 months to the end of March 2023 is for total revenues of ¥235 billion ($1.7 billion), an increase of 14.3 per cent. Underlying pre-tax profits are expected to be roughly the same as last year.
The breakdown is expected to be as follows:
- Mobile Cranes ¥157.9 billion ($1.15 billion) +21% (Geographically the mix of mobile crane sales is expected to remain similar to the first quarter, with the exception that the revenues in the Middle East will recover fully as will sales to other areas.)
- Loader cranes ¥17.3 billion ($126.4 million) (-5.2%)
- Aerial work platforms ¥16.4 billion ($119.8 million) +1.4%
- Other revenues ¥43.4 billion ($317 million) +6.4%