22.11.2007

Tadano up 19%

Tadano the Japanese based crane and access company has increased its first half revenues by 19.3 percent to 81.8 billion yen ($754 million)

Total domestic sales rose by 12.3 percent to 44.9 billion yen ($414 million), while total overseas sales increased 29.2 percent to 36.9 billion yen ($340 million) driven by a sharp increase in mobile crane sales in Europe and North America taking exports to a record breaking 45 percent.

In Japan replacement demand for rough terrain cranes in the 25 to 60 tonne range, driven by improving rental rates, pushed mobile crane sales up 24.1 percent to 20,056 million yen ($185 million).
Exports of mobile cranes jumped by 39 percent to 28,430 million yen ($262 million).

In total mobile crane sales were 48,486 million yen ($447 million), an increase of 32.4 percent on the same period last year.

Looking at its other segments Tadano says that sales of its loader cranes dropped a whopping 86 percent to 7.7 billion yen ($71 million) due largely to the recent boom in sales of new trucks coming to an end, efforts to boost sales to rental companies largely failed to take off.

Sales of aerial platforms on the other hand rose 18 percent to 6.8 billion ($63 million), as the company concentrated its sales efforts on the rental market and telecommunications both of which have increased capital expenditure.

Sales of used cranes remained flat while replacement parts and repairs helped increase sales in this sector by 6.8 percent to 15,996 million yen ($147.4 million).

Given the pick up in both domestic and overseas demand for mobile cranes Tadano says that it made every effort during the period to boost production and sales and in order to keep up with its mid-term management plan.

At the same time it managed to maintain recent pricing improvements, which in conjunction with efficiency gains, led to operating income rising by 32 percent to 8 billion yen ($74 million), while net income climbed by 40 percent to 5.4 billion yen ($50.1 million).

Tadano is forecasting full year revenues 168 billion ($1.55 billion) with 46 percent domestic 54 percent export.