Decline in Kobelco crane sales in 2016
3 May 2017 by Sotiris KanarisKobe Steel, Kobelco’s parent company, reported sales of 1,695.8 billion yen ($15.2 billion) in the 12 months to 31 March 2017, down 7% on the previous year. Operating income dropped by 85.8% year on year to 9 billion yen.
Over the same period, the construction-machinery segment – which includes the crane business – reported a 7.7% decrease in sales to 310.4 billion yen. The division recorded an ordinary loss of 31.3 billion yen due to profit deterioration from the fewer number of units sold, the high yen and the additional posting of an allowance for retained receivables in its business in China.
Kobe Steel said unit sales of crawler cranes also declined compared with the previous consolidated fiscal year, mainly in South East Asia, due to a decrease in energy-related projects brought about by sluggish crude-oil prices.
The company expects crawler crane sales in fiscal year 2017 to be similar to the 2016 period.
“Overseas demand is anticipated to remain sluggish primarily in the energy-related sector,” Kobe Steel said.
