TADANO LTD. * Note on forecasts:
This document (including business plans) is based on information available at the time of its preparation. Nevertheless, actual results may differ substantially from projections due to various risks and uncertainties.
Income Statement (vs. Previous Year)
1Q FY2015 | 1Q FY2016 | Change | |||
Amount | Percentage | Amount | Percentage | ||
Net sales | 45,176 | 100.0% | 41,987 | 100.0% | -3,189 |
Cost of sales | 30,977 | 68.6% | 28,786 | 68.6% | -2,190 |
Gross profit on installment sales | -36 | -0.1% | 35 | 0.1% | 72 |
Gross profit | 14,163 | 31.4% | 13,236 | 31.5% | -927 |
Selling, general, and administrative expenses | 7,339 | 16.2% | 7,448 | 17.7% | 108 |
Operating income | 6,823 | 15.1% | 5,788 | 13.8% | -1,035 |
Non-operating income and loss | 16 | 0.0% | -117 | -0.3% | -134 |
Ordinary income | 6,840 | 15.1% | 5,670 | 13.5% | -1,169 |
Extraordinary income and loss | -24 | -0.1% | -55 | -0.1% | -31 |
Incom e before incom e taxes | 6,816 | 15.1% | 5,615 | 13.4% | -1,201 |
Corporate taxes | 2,052 | 4.5% | 1,594 | 3.8% | -458 |
Net income attributable to noncontrolling interests | 21 | 0.0% | 19 | 0.0% | -2 |
Net income attributable to Tadano Ltd. | 4,741 | 10.5% | 4,001 | 9.5% | -740 |
(Unit: millions of yen)
[ Key changes of this quarter (April-June) ] Sales and profits decreased
Net sales:
Consolidated net sales decreased by 7.1% compared with the previous 1Q.
Outside Japan sales ratio was 52.8%.
COGS ratio:
Despite the decrease in sales, the COGS ratio was 68.6%. The ratio kept the same level as last year due to the efforts for maintaining appropriate sales prices, cost savings and expanding sales of larger models.
Selling, general, and administrative expenses:
SGA increased by ¥0.1 billion compared with the previous 1Q.
Profits:
Operating income decreased by ¥1.0 billion compared with the previous 1Q.
Ordinary income decreased by ¥1.1 billion compared with the previous 1Q.
Net income attributable to Tadano Ltd. decreased by ¥0.7 billion compared with the previous 1Q.
Factors of operating income change:
- ¥1.2 billion due to an influence of sales volume
- ¥0.1 billion due to foreign exchange effects
+ ¥0.3 billion by other influences
1Balance Sheet (vs. End of Previous Fiscal Year)
(Unit: millions of yen)
[Key changes]FY2015 year-end
1Q FY2016
Change
Amount
Percentage
Amount
Percentage
Cash deposit
73,618
31.3%
69,280
29.8%
-4,337
Accounts receivable
51,143
21.7%
45,506
19.6%
-5,636
Inventories
53,021
22.5%
62,130
26.7%
9,108
Other current assets
7,699
3.3%
6,408
2.8%
-1,291
Total current assets
185,483
78.8%
183,326
78.9%
-2,157
Tangible fixed assets
38,982
16.6%
38,654
16.6%
-327
Intangible fixed assets
1,187
0.5%
1,086
0.5%
-101
Investment and other as sets
9,747
4.1%
9,315
4.0%
-432
Total fixed assets
49,917
21.2%
49,056
21.1%
-860
Total assets
235,400
100.0%
232,382
100.0%
-3,018
Accounts receivable decreased:
¥ 51.1billion ¥ 45.5 billion
The receivable turnover period increased (1Q FY2015: 90.3 days, FY2015: 89.1 days
1Q FY2016: 98.6 days)
Inventories increased:
¥ 53.0 billion ¥ 62.1 billion (The ¥62.1 billion includes ¥17.2 billion in TADANO FAUN GmbH)
The inventory turnover period increased. (1Q FY2015: 114.4 days, FY2015: 92.4 days
Accounts payable
35,845
15.2%
37,768
16.3%
1,923
Interest-bearing debt
36,869
15.7%
37,306
16.1%
436
Other liabilities
27,889
11.8%
22,001
9.5%
-5,887
Total liabilities
100,603
42.7%
97,076
41.8%
-3,527
Total equity
134,796
57.3%
135,306
58.2%
509
Total liabilities and equity
235,400
100.0%
232,382
100.0%
-3,018
1Q FY2016: 134.7 days)
Interest-bearing debt increased:
¥ 36.8 billion ¥ 37.3 billion
Short-term: increased by ¥0.4 billion; Long-term: increased by ¥0.0 billion
2Net Sales by Product
(Millions of yen)
50,000
Others
Aerial Work Platforms Truck Loader Cranes
1Q FY2015 1Q FY2016
(Unit: millions of yen)
Change
40,000
30,000
45,176
7,048
3,284
4,445
Mobile Cranes
41,987
6,289
4,423
4,259
Mobile Cranes
Truck Loader Cranes
Aerial Work Platforms
Others
Amount Percentage Amount Percentage Amount Percentage
20,000
30,397
27,014
30,397 | 67.3% | 27,014 | 64.4% | -3,382 | -11.1% |
4,445 | 9.8% | 4,259 | 10.1% | -186 | -4.2% |
3,284 | 7.3% | 4,423 | 10.5% | 1,138 | 34.7% |
7,048 | 15.6% | 6,289 | 15.0% | -758 | -10.8% |
45,176 | 100% | 41,987 | 100% | -3,189 | -7.1% |
Total
Japan | 9,540 | 7,622 | -1,918 | -20.1% |
Outside Japan | 20,856 | 19,392 | -1,464 | -7.0% |
Breakdown of Mobile Crane sales in and outside Japan
10,000
Exchange rate (January-March average rate)
USD EUR
0
119.09 115.48
134.18 127.23
1Q FY2015 1Q FY2016
Since the fiscal year for subsidiaries outside of Japan ends in December,
the rates given here are January-March average.
3Net Sales by Destination
(Millions of yen)
30,000
Europe
North America
Caribbean, Central and South America Asia
Middle East
Others
1Q FY2015 1Q FY2016
(Unit: millions of yen)
Change
20,000
24,325
5,717
22,184
5,614
Europe
North America
Caribbean, Central and South America
Amount Percentage Amount Percentage Amount Percentage
10,000
8,385
265
4,075
4,264
7,756
544
4,330
2,711
5,717 | 12.6% | 5,614 | 13.4% | -102 | -1.8% |
8,385 | 18.6% | 7,756 | 18.5% | -629 | -7.5% |
265 | 0.6% | 544 | 1.3% | 279 | 105.1% |
4,075 | 9.0% | 4,330 | 10.3% | 254 | 6.2% |
4,264 | 9.4% | 2,711 | 6.4% | -1,553 | -36.4% |
1,615 | 3.6% | 1,227 | 2.9% | -388 | -24.0% |
24,325 | 53.8% | 22,184 | 52.8% | -2,140 | -8.8% |
20,851 | 46.2% | 19,802 | 47.2% | -1,048 | -5.0% |
45,176 | 100% | 41,987 | 100% | -3,189 | -7.1% |
Asia
Middle East
Others Subtotal (total outside
Japan sales) Japan
Total
0 1,615 1,227
1Q FY2015 1Q FY2016
The graph on the left excludes Japan. Others comprise Oceania, Africa and the CIS.
4FY2016 Interim Forecast (Net Sales by Product)
(Millions of yen)
104,189
Others
Aerial Work Platforms Truck Loader Cranes Mobile Cranes
(Unit: millions of yen)
100,000
14,138
FY2015 interim | FY2016 interim forecast | Change | ||||
Amount | Percentage | Amount | Percentage | Amount | Percentage | |
Mobile Cranes | 71,297 | 68.4% | 59,000 | 64.1% | -12,297 | -17.2% |
Truck Loader Cranes | 9,957 | 9.6% | 9,700 | 10.5% | -257 | -2.6% |
Aerial Work Platforms | 8,796 | 8.4% | 10,100 | 11.0% | 1,303 | 14.8% |
Others | 14,138 | 13.6% | 13,200 | 14.4% | -938 | -6.6% |
Total | 104,189 | 100% | 92,000 | 100% | -12,189 | -11.7% |
92,000
80,000
8,796
9,957
13,200
10,100
60,000
9,700
40,000
71,297
59,000
Breakdown of Mobile Crane sales in and outside Japan
Japan | 24,884 | 22,800 | -2,084 | -8.4% |
Outside Japan | 46,413 | 36,200 | -10,213 | -22.0% |
20,000
No changes from the forecast released on April 28, 2016.
0
FY2015 interim FY2016 interim forecast
5FY2016 Interim Forecast (Net Sales by Destination)
(Millions of yen)
60,000
50,000
53,310
12,135
Europe
FY2015 interim | FY2016 interim forecast | Change | ||||
Amount | Percentage | Amount | Percentage | Amount | Percentage | |
Europe | 12,135 | 11.7% | 12,200 | 13.3% | 64 | 0.5% |
North America | 19,792 | 19.0% | 12,700 | 13.8% | -7,092 | -35.8% |
Caribbean, Central and South America | 387 | 0.4% | 1,200 | 1.3% | 812 | 209.7% |
Asia | 8,478 | 8.1% | 8,000 | 8.7% | -478 | -5.6% |
Middle East | 8,899 | 8.5% | 5,100 | 5.5% | -3,799 | -42.7% |
Others | 3,617 | 3.5% | 3,300 | 3.6% | -317 | -8.8% |
Subtotal (total outside Japan sales) | 53,310 | 51.2% | 42,500 | 46.2% | -10,810 | -20.3% |
Japan | 50,878 | 48.8% | 49,500 | 53.8% | -1,378 | -2.7% |
Total | 104,189 | 100% | 92,000 | 100% | -12,189 | -11.7% |
North America
Caribbean, Central and South America
Asia
Middle East Others
42,500
(Unit: millions of yen)
40,000
30,000
19,792
12,200
20,000
10,000
387
8,478
8,899
12,700
1,200
8,000
5,100
3,617 3,300
0
FY2015 interim FY2016 interim forecast
No changes from the forecast released on April 28, 2016. The graph on the left excludes Japan.
Others comprise Oceania, Africa and the CIS.
6Tadano Ltd. published this content on 04 August 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 04 August 2016 02:25:11 UTC.
Original documenthttp://www.tadano.com/news/FY2016_FQ.pdf
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