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Kobelco Sold More Cranes, Made Less Profit in 2012

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Kobelco Cranes had sales of $484 million in the fiscal year ending March 31st, a 5.2% downturn on the previous year. The division made a loss of $24 million, compared to the ordinary profit of $1.7 million for the 2011 fiscal year.

Commenting on the results, Kobelco said in a statement: “Unit sales of crawler cranes in fiscal 2012 increased in comparison to the previous year. In addition to the higher domestic demand from reconstruction work after the Great East Japan Earthquake, overseas demand was on a recovery trend centred on North America and Southeast Asia. However, due to changes in the types of cranes sold, consolidated segment sales in fiscal 2012 decreased 5.2% in comparison to the previous year.”

Commenting on the outlook for the next 12 months, the company added: “Unit sales of cranes are anticipated to increase in fiscal 2013, compared with fiscal 2012. Higher recovery demand in Japan is anticipated following the Great East Japan Earthquake. In overseas markets, demand on the whole is anticipated to continue recovering.”

The company added that some of the most promising market conditions continued to be in North America and Southeast Asia, while the recovery in China and India was seen as being more gradual. It also said it aimed to make its crane factories in India and China profitable.

Author: Chris Sleight, KHL Group

Source: KHL Group

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