27.01.2012 Hitachi Full-Year Forecast

Hitachi Construction Machinery net sales and operating income for the nine months to 31 December, 2011 have increased. However the company has lowered its full-year sales forecast because of significant decrease in demand for hydraulic excavators in China. For the nine months ended 31 December, 2011, net sales were up +4.4% year-on-year at US$ 7.1 billion, while net operating income jumped +43% to US$ 382 million. The overall increase was fuelled by a +18% year-on-year rise in sales in Japan, a +44% surge in the Americas, and a +15% rise in sales in the Asia and Oceania region.

In China sales dropped -30% year-on-year for the nine-month period to US$ 1.2 billion. Sales in Europe fell by 0.9% year-on-year, while the Russia-CIS, Africa and Middle East division saw sales increase by a marginal +0.2%. In China the demand for hydraulic excavators decreased due to the government tight financial policy resulting in delays in the start of new construction work. Hitachi expected 2011 operating income to decrease year-on-year, and forecast a result of US$ 774 million, down from its previous forecast of US$ 838 million.

Goto chapter Corporate news