07.07.2026

Tadano's first quarter

Japanese crane and aerial lift manufacturer Tadano has published its first quarter results, with higher revenues but lower profits.

Total revenues for the three months to the end of March were ¥85.85 billion ($528.8 million), up 6.6 percent on the same period last year, thanks to the inclusion of the IHI tower, climbing and marine crane business in August now referred to as mobile and Static Lifting Equipment.

Pre-tax profit for the period declined 43 percent to ¥3.21billion ($19.8 million), mostly due to last year’s inclusion of a ¥2.3 billion ($14.2 million) one-off extraordinary gain, but also due to high sales and administration costs. ‘Ordinary profit’ was 16 percent lower at ¥4.01 billion ($24.7 million).

Focusing on the revenues:
Mobile cranes
Japan ¥8.63 billion ($ 53.1million) -3%
Export ¥39.3 billion ($242.1 million) -7.5%
Total ¥47.93 billion ($ 295.2 million) -2.2%

Loader cranes
Japan ¥3.99 billion ($24.6 million) 6.1%
Export ¥5.7 billion ($35.1 million) -7.5%
Total ¥9.69 billion ($59.7 million) -7%

Aerial work platforms
Japan ¥5.75 billion ($35.5 million) +5.5%
Export ¥1.36 billion ($8.4 million) +13.3%
Total ¥7.11 billion ($43.9 million) +7%


Sales by region
Europe ¥10.54 million ($64.9 million)+ -15.%
North America ¥33.7 billion ($207.5 million) +10.5%
Central/South America ¥2.71 billion ($16.7 million) -3%
Asia ¥3.69 billion ($22.8 million) + 6.5%
Middle East ¥690 million ($4.25 million) - 85%
Oceania ¥3.49 billion ($21.5 million) + 37%
Other markets ¥468 million ($2.9 million) - 29%
Total export ¥55.3 billion ($341.1 million) -3.5%
Japan ¥30.6 billion ($188.7 million) + 29%
Total ¥85.9 billion ($529.8 million) + 6.7%

Full year Forecast

The company has increased its full year sales forecast by 14.5 percent to ¥400 billion ($2.5 billion), with Ordinary profit up 4.5 percent to ¥22 billion ($135.5 million)

The company stated that the fall in operating profit was due to U.S. tariff, lower volumes -delays in sales timing, and higher expenses. Adding that order intake remains strong, primarily in North America, with full-year sales on track. In spite of the results, it said: “Impact from Middle East tensions remains minimal to date”

Vertikal Comment

Tadano is unusual in how much detail it provides, however, evaluating the underlying changes in the business is challenging due to the ongoing impact of two significant acquisitions which completed last year, Manitex in January and IHI last summer.

The company has an enormous amount of work to do with these acquisitions, without the benefit of a large and experienced headquarters team to handle it, while still dealing with the fallout from the 2019 Demag acquisition.

Taking all that on board when all is said and done, it looks like the company is making progress towards its previously stated aim of becoming the leading crane manufacturer globally.

However, it might have done better to have left the IHI addition in order to focus all of its precious resources on what it already had.
Note We should mention that these results were published in May, but in the past we have only published Tadano's half-yearly accounts - and made a late decision to add the quarterly numbers going forward.