06.05.2020

Tadano revenues up 21%

Japanese crane and aerial lift manufacturer Tadano has published its financial results for the year to the end of March. They include eight months contribution from Demag cranes which was acquired at the start of August.

Total revenues for the year increased more than 21 percent to ¥228 billion ($2.15 billion), pre-tax profits however declined 17 percent to ¥13.5 billion ($127.3 million) due to product mix and acquisition costs etc..

Looking at the revenues in more detail they are broken down as follows:
Mobile crane sales of ¥150.8 billion ($1.42 billion)
Loader crane sales of ¥22.2 billion ($208.9 million)
Aerial lift sales of ¥18 billion ($169.6 million) ..and
Other sales – largely parts, service and used equipment – of ¥37 billion ($348.7 million)

The Mobile crane sales detail is as follows:

Mobile crane sales in Japan increased 13.2 percent to ¥47.8 billion ($451 million) while sales outside of Japan totalled ¥103 billion ($971 million) a jump of 36.8 percent on the previous year.

The overseas revenues were made up of sales from the following regions:
Europe at ¥24.4 billion ($185.6 million), a rise of 27.5 percent, North America, whioch reported sales more than 34 percent higher at ¥54.2 billion ($510.7 million), Central and South America where revenues more than quadrupled to ¥6.7 billion (63.5 million), Asia which posted a five percent increase to ¥14.4 billion ($135.8 million), the Middle East where sales rebounded 68 percent to ¥10.3 billion ($97.2 million) and finally ‘Other’ areas where sales were 28 percent higher at ¥13.4 billion ($126.8 million).

Forecasts for 2020
As with many other companies, Tadano has abandoned all efforts at forecasting results for this year, due to the gross uncertainties over the Covid-19 pandemic.

Vertikal Comment

These numbers are probably slightly better than many expected, following the take over and absorption of Demag. However the company has yet to publish its ‘Comprehensive’ results which usually yields a little more information and some comment. We will update this is we learn more at that time.