The downturn in the global mining industry pulled revenues down for many earthmoving equipment manufacturers last year. The top 10 manufacturers’ revenue accounted for 62.8 per cent of the top 50’s revenue for the year.
Although the Yellow Table attempts to measure revenues from construction equipment sales and excludes companies that serve only the mining industry, it is inevitable that a downturn in mining will impact on many of the companies in the league table.
The slowdown in China had an impact across its domestic construction equipment sector. Besides the falls for Zoomlion and Sany, Lonking, XGMA and Chenggong outside the top 10 also lost places. XCMG, Liugong and Sunward held their ground, with Shantui the only Chinese manufacturer to improve its standing.
Another key factor in this year’s Yellow Table was the depreciation of the Japanese Yen over the course of 2013. The Japanese currency was 22 per cent weaker than a year previously, which had an impact on the table as it is based on revenues in US dollar terms.
For example, Komatsu’s revenues from construction equipment sales in the 2013 calendar year were JPY1723 billion, compared with JPY1678 billion the previous year, a +2.3% increase.
However, there was a negative effect in terms of the Yellow Table ranking in dollars. The company’s converted revenues fell from $USD21 billion in last year’s Yellow Table to $USD17.6 billion this year – a 16 per cent decline.
This currency effect also contributed to slides down the rankings for Hitachi, Kobelco, Tadano and Furukawa.
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Source: KHL Group