Not long ago, Germany Bauma Exhibition, which has experienced many tests, successfully ended, presenting the global audience with high-tech products, cutting-edge technologies and innovative solutions related to the whole industrial chain of construction machinery. Exhibitors show their muscles and show their style. Even though they are far away from each other, we can still feel the confidence and vitality of the industry from this long lost mechanical feast.
Komatsu's data in the table are the consolidated operating results of the first six months of the fiscal year ended March 31, 2023 (April 1-September 30, 2022).
Back now, the domestic enterprises with unlimited success at Bauma had to face some bleak third quarter results. Under the adverse factors of epidemic situation, industry downward cycle and sluggish domestic market demand, the performance of most domestic enterprises in the third quarter continued the downward trend in the first half of the year, with both revenue and net profit declining, but the decline was somewhat narrowed due to the continued growth of exports, the decline of raw material prices, the favorable exchange rate and other favorable factors. In addition, only a few enterprises have achieved performance growth, focusing on manufacturers of aerial work machinery, forklifts and mining machinery.
In contrast, the performance of foreign-funded enterprises in the first three quarters of this year is sunny. Caterpillar, the world leader, achieved revenue of nearly 15 billion dollars in the third quarter, up 20.97% year on year. From April to September 2022, Komatsu's operating revenue increased by 25.3% year on year to 1618.7 billion yen, and its net profit increased by 74.5% year on year to 162.6 billion yen.
Summary of performance reports of listed construction machinery companies in the first three quarters of 2022
Domestic enterprises
XCMG
XCMG's operating income in the first three quarters was RMB 75.054 billion, a year-on-year decrease of 19.86%; Net profit attributable to parent company was 4.676 billion yuan, a year-on-year decrease of 31.33%. Among them, the operating revenue in the third quarter was 21.205 billion yuan, a decrease of 4.96% year on year, narrowing the decline; The net profit attributable to the parent company was 1.009 billion yuan, a year-on-year decrease of 26.21%.
After XCMG completed the absorption and merger of XCMG Co., Ltd., the consolidated statement was released for the first time in the third quarter, and the overall scale was significantly improved. According to the financial statement after absorption and merger of XCMG Co., Ltd., the revenue scale of XCMG Machinery in the first three quarters has reached 75.054 billion yuan, ranking the forefront of the industry. The injection of high-quality assets has significantly improved the profitability of the company's products.
Sany Heavy Industry
Sany Heavy Industry achieved a total operating income of 59.165 billion yuan in the first three quarters, a year-on-year decrease of 32.98%; The net profit attributable to the parent company was 3.597 billion yuan, a year-on-year decrease of 71.38%. In the third quarter, the operating income was 19.093 billion yuan, down 8.14% year on year; The net profit attributable to the parent company was 963 million yuan, a year-on-year decrease of 61.38%.
The revenue of overseas markets maintained a high growth rate. The decline in revenue in the third quarter narrowed significantly compared with the first half of the year, mainly due to the marginal improvement of the domestic market and the rapid growth of overseas markets. From the specific performance of the overseas market, the overseas market revenue in the first three quarters was 25.88 billion yuan, up 43.7% year on year, maintaining a rapid growth.
Sany International
Sany International's gross operating income in the first three quarters was about 11.6 billion yuan, up 53.82% year on year; Net profit attributable to the parent company was about 1.296 billion yuan, up 19.41% year on year; Excluding the one-time gains from the sale of Xinjiang subsidiary in 2021, the net profit attributable to the parent company increased by 38.62% year on year. Especially in the third quarter, the growth of revenue and profit in a single quarter was further accelerated compared with the first half of the year. In the third quarter, the revenue was 3.969 billion yuan, a strong increase of 55.19%, and the net profit attributable to the parent company was 391 million yuan, a significant increase of 42.24%.
The significant increase of Sany International's income and profit is mainly driven by three factors: first, under the intelligent and electric business strategy, the company's income from intelligent and electric products has increased significantly, driving the income from roadheader, fully mechanized mining, wide body vehicle and port machinery products to increase significantly. Second, the Company further promoted its internationalization strategy and achieved substantial growth in international revenue. Third, the company has fully implemented digital and intelligent operations, implemented measures to improve quality and efficiency, reduce costs and control fees, and maintained stable growth in profits.
Sany Heavy Energy
Sany Heavy Energy achieved an operating revenue of 6.345 billion yuan in the first three quarters, up 12.75% year on year; The net profit attributable to the parent company was 1.043 billion yuan, down 4.16% year on year. The revenue in the third quarter was 2.262 billion yuan, up 11.2% month on month; The net profit attributable to the parent company was 250 million yuan, up 22% month on month.
Zoomlion Heavy Industry Co., Ltd
Zoomlion achieved an operating income of 30.649 billion yuan in the first three quarters, a year-on-year decrease of 43.69%; The net profit attributable to the parent company was 2.169 billion yuan, a year-on-year decrease of 62.29%. Among them, the operating income in the third quarter was 9.349 billion yuan, a year-on-year decrease of 21.94%; The net profit attributable to the parent company was 453 million yuan, a year-on-year decrease of 49.72%.
Liu Gong
Liugong's operating income in the first three quarters was about 20.034 billion yuan, a year-on-year decrease of 11.38%; The net profit attributable to the parent company was about 586 million yuan, a year-on-year decrease of 42.45%.
The operating revenue in the third quarter was 6.267 billion yuan, up 7.6% year on year; The net profit attributable to the parent company was 107 million yuan, down 21.2% year on year.
Shantui Shares
Shantui achieved an operating income of 6.526 billion yuan in the first three quarters, a year-on-year decrease of 10.07%; The net profit attributable to the parent company was 486 million yuan, up 241.54% year on year. Among them, the net profit increased significantly. Shantui said that it was mainly because of the capital reduction in the first half of the year and its exit from Xiaosong Shantui Construction Machinery Co., Ltd., which obtained an investment income of 320 million yuan.
The operating income in the third quarter was 2.316 billion yuan, up 25.21% year on year, and the net profit attributable to the parent company was 84 million yuan.
Mountain and river intelligence
In the first three quarters, Shanhe Intelligent realized an operating revenue of about 5.408 billion yuan, a year-on-year decrease of 40.53%; The net profit loss attributable to the parent company was about 97 million yuan, down 119.75% year on year.
The operating income in the third quarter was 1.698 billion yuan, down 23.06% year on year; The net profit loss attributable to the parent company was about 131 million yuan, down 241.80% year on year.
Xiamen Engineering Co., Ltd
In the first three quarters of the year, Xiamen Industrial Group achieved an operating income of 786 million yuan, a year-on-year decrease of 33.2%, which was larger than that of the same period of the previous year; The net profit attributable to the parent company was -64.88 million yuan, which was -10.39 million yuan in the same period of the previous year, and the range of loss increased.
The operating income in the third quarter was 239 million yuan, down 16.91% year on year, and the net profit attributable to the parent company was - 0.31 billion yuan.
Yutong Heavy Industry
Yutong Heavy Industry achieved an operating income of 2.398 billion yuan in the first three quarters, down 13.80% year on year; Net profit attributable to the parent company was 236 million yuan, down 29.42% year on year.
The operating income in the third quarter was 790 million yuan, down 16.16% year on year; The net profit attributable to the parent company was 69 million yuan, down 32.73% year on year.
CRCC Heavy Industry
In the first three quarters of the year, CRCC Heavy Industry realized an operating revenue of 7.817 billion yuan, an increase of 8.84% year on year, and a net profit attributable to the parent company of 1.404 billion yuan, an increase of 8.57% year on year.
Of which, the operating income in the third quarter was 2.455 billion yuan, up 5.95% year on year; The net profit was 389 million yuan, up 2.98% year on year.
Tongli Shares
Tongli achieved an operating income of 4.013 billion yuan in the first three quarters, up 43.92% year on year; The net profit attributable to the parent company was 352 million yuan, up 42.44% year on year.
Of which, the operating income in the third quarter was 1.482 billion yuan, up 63.34% year on year; The net profit was 130 million yuan, up 87.70% year on year. The open-pit coal mine market is the main market of Tongli Shares, which continues to maintain a high growth rate this year. With the reserve of heating coal in winter, Tongli's operating income increased further in the third quarter.
Zhejiang Dingli
Zhejiang Dingli achieved an operating income of 4.168 billion yuan in the first three quarters, a year-on-year increase of 4.32%; Net profit attributable to parent company was 876 million yuan, up 20.08% year on year.
In the third quarter, the operating revenue reached 1.224 billion yuan, a year-on-year decrease of 13.71%; The net profit attributable to the parent company was 302 million yuan, up 35.51% year on year.
Dagang Holding
Dagang Holdings achieved an operating income of 276 million yuan in the first three quarters, down 56.54% year on year; The net profit attributable to the parent company was RMB 284 million, up from 20.979 million in the same period of last year, which failed to maintain the profitability.
The operating income in the third quarter was 102 million yuan, down 43.73% year on year; Net profit attributable to parent company is - 270 million yuan. The accrual of goodwill of Zhongde Environmental Protection is the main reason for Dagang Holding's poor performance in the third quarter.
Construction machinery
The operating revenue of construction machinery in the first three quarters was 2.869 billion yuan, down 17.93% year on year; The net profit attributable to the parent company was 0.46 billion yuan, compared with 430 million yuan in the same period of last year, down 110.67% year on year, which failed to maintain the profitability.
Among them, the operating income in the third quarter was 1.089 billion yuan, down 12.31% year on year; Net profit attributable to parent company was 19 million yuan, down 89.52% year on year.
Anhui Heli
Anhui Heli achieved an operating revenue of 11.949 billion yuan in the first three quarters, up 1.09% year on year, and a net profit of 686 million yuan, up 34.34% year on year.
Of which, the operating income in the third quarter was 3.924 billion yuan, up 1.18% year on year; The net profit attributable to the parent company was 254 million yuan, up 92.39% year on year. The change in net profit attributable to the parent company during the reporting period was mainly due to the continuous growth in sales of lithium battery new energy products and international business of the company.
Hangcha Group
Hangzhou Fork Group achieved an operating revenue of 11.365 billion yuan in the first three quarters, up 3.28% year on year; The net profit attributable to the parent company was 746 million yuan, up 1.06% year on year.
In the third quarter alone, Hangzhou Fork Group achieved a revenue of 3.841 billion yuan, up 5.58% year on year; The net profit attributable to the parent company was 290 million yuan, up 24.11% year on year. The rapid growth of performance in the third quarter was mainly due to the continued high growth of international business, which offset the decline of domestic business, continued optimization of product structure, favorable exchange rate and other factors.
Weichai Power?
Weichai Power achieved an operating income of 130.523 billion yuan in the first three quarters, a year-on-year decrease of 27.44%; Net profit attributable to the parent company was 3.312 billion yuan, down 58.91% year on year.
Among them, the operating income in the third quarter was 43.783 billion yuan, down 1.77% year on year; The net profit attributable to the parent company was 925 million yuan, a year-on-year decrease of 40.34%. The year-on-year decline in net profit attributable to the parent company was dragged down by CAO. Due to the impact of the order cycle and the supply chain pressure brought by high inflation in Europe and the United States, CAO 22Q3 suffered a loss of nearly 100 million euros. If this impact is excluded, the net profit of Q3 Company increased by more than 10% year-on-year.
Hengli Hydraulic
Hengli Hydraulic achieved an operating income of 5.92 billion yuan in the first three quarters, a year-on-year decrease of 17.58%; The net profit attributable to the parent company was 1.749 billion yuan, a year-on-year decrease of 10.70%.
The operating income in the third quarter was 2.033 billion yuan, up 3.96% year on year; The net profit attributable to the parent company was 692 million yuan, up 19.98% year on year.
Aidi Precision
The operating revenue of Aidi Precision in the first three quarters was 1.453 billion yuan, down 31.60% year on year; Net profit attributable to parent company was 161 million yuan, down 58.32% year on year.
The operating income in the third quarter was 418 million yuan, down 12.90% year on year; The net profit attributable to the parent company was 38,259,600 yuan, down 20.87% year on year.
foreign enterprise
Caterpillar
Caterpillar's operating revenue in the first three quarters was 42.83 billion US dollars, up 15.15% year on year; Net profit attributable to parent company was 5.251 billion US dollars, up 20.19% year on year. Among them, the operating revenue in the third quarter was 14.994 billion US dollars, up 20.97% year on year; Net profit attributable to parent company was 2.041 billion US dollars, up 42.86% year on year.
In the third quarter, the revenue of construction machinery in Latin America was 799 million US dollars, up 51% year on year; The revenue of construction machinery in North America was 3.1 billion US dollars, up 29% year on year; The revenue of construction machinery in the Asia Pacific region increased by 1% year on year, compared with a 17% decrease in the same period in 2021, and the performance improved greatly.
Komatsu
On October 31, Komatsu's official website published the consolidated operating results for the first six months of the fiscal year ending March 31, 2023 (April 1-September 30, 2022).
From April to September 2022, the consolidated net sales volume was 1618.7 billion yen, a year-on-year increase of 25.3% over the same period in 2021 (1291.4 billion yen), and the net profit attributable to the parent company increased by 74.5% year on year to 162.6 billion yen.
From a single quarter perspective, from July to September 2022 (the second quarter of fiscal year 2022), Komatsu's consolidated net sales amounted to 854.9 billion yen, a year-on-year increase of 32.9% over the same period in 2021 (643.1 billion yen), and its net profit attributable to the parent company surged 57.2% to 82.1 billion yen.
Komatsu said in the report that the sustained high growth of operating income and profit in the first six months of fiscal year 2022 was mainly due to the depreciation of the yen and the increase in the sales prices of construction machinery, mining and public utility equipment businesses in many regions, offsetting the negative impact of rising material prices and logistics costs
Volvo Group
"In the third quarter of 2022, Volvo Group still maintained a strong growth momentum, with net sales increasing by 35% to SEK 114.9 billion (the same period of last year was 85.3 billion), and the growth after adjusting the impact of exchange rate was 21%. The adjusted and reported operating profits were SEK 11869 million (the same period of last year was 9.403 billion), and the operating profit margin was 10.3% (the same period of last year was 11.0%).
Haulotte Group?
Since the beginning of 2022, the global aerial platform market has remained active in most regions. Although the macro-economy shows signs of slowing down, the performance of Haulotte in the third quarter of 2022 is still good, with sales of 140 million euros, an increase of 17% after adjusting the impact of exchange rate compared with the same period in 2021.
By the end of September 2022, the sales of EURISON Group in the first three quarters were 429.1 million euros, while the sales in the same period in 2021 were 355.3 million euros, an increase of 20.77% year on year.
