Hitachi Construction Machinery has raised its full-year revenue forecast again after sales climbed to Y902.7 billion (US$6.93 billion) in the first nine months of the year, up 25.3% year-on-year.
Its forecast for the year (FY22) ending March 31, 2023, is now Y1.23 trillion (US$9.44 billion), up 6% on its previous guidance and 20% better than FY21.
Mining segment revenues were up 55% yoy for the first three quarters at Y174.7b (US$1.27b) due to a “significant increase in new machinery sales, capturing robust demand”.
“Parts and services also grew significantly,” HCM said.
The company said Y21.5b of revenue in the first nine months of FY22 was new truck sales; Y49.5b was new excavators; and Y103.7b was parts and services.
Full fiscal year mining revenue is now being projected at Y230.2 billion (US$1.77b), up 46% yoy, with Y136.8b of that parts and service (US$1.05b) and Y93.5b (US$720m) new equipment sales.