With the spread of the epidemic around the world, countries around the world have started the "closing city" model, and the excavator operating hours in China, Japan, Europe and North America all fell to a new low of nearly three years in March. Undoubtedly in the first quarter of 2020, the global spread of pneumonia epidemic has brought a severe test to construction machinery companies.
As of press time, a number of Chinese and foreign listed construction machinery companies have published their first quarter results for 2020. Unsurprisingly, the performance of listed construction machinery companies in the first quarter affected by the epidemic is showing a downward trend, and individual head companies are stable increase.
Sany Heavy Industry: Achieved revenue of RMB 17.266 billion in the first quarter, down 18.92% year-on-year
On April 29, Sany Heavy Industry (600031) released its first quarter report for 2020. The announcement showed that revenue in the first quarter of 2020 was 17.266 billion yuan, down 18.92% year-on-year; net profit attributable to shareholders of listed companies was 2.194 billion yuan , A year-on-year decline of 31.90%.
Xugong Machinery: Achieved 13.846 billion yuan in revenue in the first quarter, down 3.98% year-on-year
On April 30, XCMG (000425) released its first quarter report for 2020. During the reporting period, the company achieved operating income of 13.846 billion yuan, a year-on-year decrease of 3.98%; net profit attributable to shareholders of listed companies was 611 million yuan, a year-on-year decrease of 41.95 %.
Zoomlion: double-quarter net profit growth in the first quarter
On the evening of April 29, Zoomlion (000157) released the first quarter report for 2020. The report shows that during the period, the company achieved operating income of 9.006 billion yuan and net profit attributable to shareholders of listed companies of 1.026 billion yuan, both of which achieved year-on-year growth.
Liugong Co., Ltd .: Operating income of 4.48 billion yuan in the first quarter, a year-on-year decrease of 7.93%
On April 30, Liugong (000528) released its first quarter report for 2020. During the reporting period, the company achieved operating income of 4.48 billion yuan, a year-on-year decrease of 7.93%; net profit attributable to shareholders of listed companies was 170 million yuan, a year-on-year decrease of 44.28 %; Basic earnings per share 0.11 yuan.
In 2020, the epidemic suddenly broke out, and the downstream demand data of construction machinery saw a steep decline. However, with the continuous resumption of production throughout the country in March, the demand for construction machinery also began to recover, ushering in a strong rebound. Although the first-quarter results of construction machinery companies were not very optimistic, they still made great achievements. The performance growth of some companies of Zoomlion and Zhejiang Dingli (603338) fully confirmed this. The epidemic will eventually pass, and spring will never be absent.
The postponed resumption of work caused by the epidemic only affected the timing of the construction peak and sales peak of the construction machinery industry. Benefiting from the promotion of counter-cyclical policy adjustment, environmental protection needs, replacement and other factors, the industry demand is still in 2020!
