Komatsu announced its consolidated operating results for the nine months ended December 31, 2023 (April 1 to December 31, 2023). From April to December 2023, Komatsu achieved consolidated net sales of 2,795 billion yen, up 10.1% year-on-year from the same period in 2022 (2,539.2 billion yen), operating income increased by 30.8% year-on-year to 453.4 billion yen, and net profit increased by 31.2% year-on-year to 304.3 billion yen.
Komatsu's consolidated operating results for the April-December 2023 period (the first nine months of fiscal 2023).
From a single-quarter perspective, from October to December 2023 (the third quarter of fiscal 2023), Komatsu's consolidated net sales were 972 billion yen, a year-on-year increase of 5.6% from the same period in 2022 (920.5 billion yen), operating income increased by 15.9% year-on-year to 156.4 billion yen, and net profit increased by more than 40%, up 42.4% year-on-year to 98.7 billion yen.
Komatsu's consolidated operating results for the period October-December 2023 (Q3 FY2023).
According to the data, the increase in Komatsu's operating profit in the first nine months of fiscal 2023 was mainly due to higher selling prices in most parts of the world and the depreciation of the yen, which supported the growth of profit, offsetting the adverse impact of higher fixed costs and raw material prices.
Among them, Komatsu construction machinery, mining and utility equipment sales were 2,625.8 billion yen, an increase of 10.8% from the same period in 2022 (2,369.6 billion yen). Currently, while demand for construction equipment is declining in Latin America, Europe, and Asia, demand for mining equipment remains strong in North America. Komatsu said the increase in sales was partly attributable to higher parts sales and service revenues, while reflecting high machine utilization, mainly mining equipment, higher selling prices in most parts of the world, and a weaker yen.
In a single quarter, from October to December 2023, Komatsu's construction machinery, mining, and utility equipment sales were 918.2 billion yen, an increase of 6.3% from the same period in 2021 (863.4 billion yen). Profit increased by 22.2% year-on-year to 149.1 billion yen. According to the financial report, the double growth in sales and profit was mainly due to the increase in selling prices and the positive impact of foreign exchange rates.
In Komatsu's traditional markets (Japan, North America, and Europe), only sales in Europe declined, down 9.9% year-on-year, while sales in North America remained hot, with sales in traditional markets accounting for 47%, up 1 percentage point over the same period last year, while emerging markets saw the largest decline in sales in the CIS, down 56.7% year-on-year, the Middle East had the highest sales growth rate, surging 72.1% year-on-year, and emerging markets accounted for 53%, down 1 percentage point year-on-year.
Komatsu Construction Machinery, Mining & Utilities Division, October 2023 Performance by Region
By region, Komatsu's demand for mining equipment in North America remains strong, the growth rate in the Middle East and Africa has increased significantly, and Europe, Asia, China and the CIS have all declined to varying degrees.
Specifically, from October to December 2023 (the third quarter of Komatsu's fiscal 2023), Komatsu's sales in North America increased by 30.3 billion yen compared to the same period in 2022, a year-on-year increase of 13.3%.
Sales in Europe decreased by 9.9% year-on-year. Previously, in the financial report from July to September 2023, Komatsu had revealed that due to the impact of rapid interest rate hikes and prolonged high inflation, the demand for construction machinery and equipment concentrated in the United Kingdom and Italy declined.
Sales in China decreased by 16.3% year-on-year. Sales in Asia, excluding China, also showed a downward trend, down 13.7% year-on-year.
In the Commonwealth of Independent States (CIS) region, Komatsu's sales declined significantly, down 56.7% year-on-year.
The Middle East ranked first in terms of sales growth in this round, with a year-on-year increase of 72.1%, and Africa was second only to Africa in terms of sales growth, with a year-on-year increase of 16.4%.
Zhuozhong construction machinery media organization
Statement: The copyright of all articles, pictures, audio, video files and other materials reproduced by this official account belongs to the copyright owner, and the content of non-original articles and pictures used in this official account cannot be contacted by the copyright owner one by one, if the author and editor of the article selected by this official account believe that their works are not suitable for readers to browse, or should not be used free of charge (involving cost issues, it is necessary to delete "not suitable for everyone to browse the Internet, or should not be used for free") Please notify us by email or phone in time so that appropriate measures can be taken quickly to avoid unnecessary financial losses to both parties.