Komatsu reports 12.6% revenue fall in Q4
By KHL Staff22 May 2020
Komatsu has reported a 12.6% fall in revenues for the fourth quarter of 2020 to Yen 617.4 million, with a 52% reduction in profits to Yen 44.4 billion.
The impact of the Covid-19 pandemic was felt in North America – the single biggest market for Komatsu’s construction, mining and utility equipment – where sales for the three months to 31 March were 16% down.
Fourth quarter sales in Asia – excluding China and Japan – were lower by 37%. In China and Japan revenues reduced by 29% and 3.5%, respectively, while sales in Europe were stable.
Full year sales of construction, mining and utility equipment were down 10.8% to Yen 2211 billion, with profits 37.8% lower at Yen 227 billion.
The manufacturer said it could not give an outlook statement for the year to March 2021 because it was impossible to predict when the pandemic would end.
Komatsu said its production plants in Brazil, Italy, Germany, Russia and China had all resumed operation. Its UK facility will re-open on 31 May, and the India plant was scheduled to resume on 18 May.