Sales down 11% at Tadano
By Alex DahmFebruary 04, 2021
Crane maker Tadano posted a decline in sales for the first three quarters of its financial year to the end of December 2020. Sales were JPY 132,543 million (US$1.23 billion) against JPY 148,877 million (US$1.37 billion) for the same period of 2019.
For that period, April 1, 2020 to December 31, 2020, it was a decline of JPY 16,333 million ($152 million) or 11%.
By crane type, sales were down in mobile cranes by 17.7% to JPY 77,926 million ($724 million) from JPY 94,646 million ($868 million) in 2019. Truck loader crane sales were down 14.9%, to JPY 14,085 million ($131 million), from JPY 16,549 million ($152 million). Aerial work platform sales were up by 0.7% to JPY 28,332 million ($263 million), from JPY 25,573 million ($235 million).
The company said it was the first third-quarter operating loss it had made in 10 years, since the same period of the 2010 financial year. Despite reducing expenses, the operating income was down by JPY 11.2 billion ($104 million), attributed to lower sales volume and the consolidation of the Demag business since completion of its acquisition at the end of July 2019.
By geography, sales in Europe for the period increased by 30.7% due to the Demag contribution but sales everywhere else declined, by upwards of 20% in some areas.
In outlook, the company forecasts a total for the full year to March 31, 2021 of JPY 182,000 million ($1.69 billion). The forecast income is a loss, increased by a one-off extraordinary expense incurred by a violation of engine exhaust emission regulations in the U.S.