Recently, foreign brands have successively released financial reports for 2022, basically increasing year-on-year. We compare the data of different regions and find that the American market has become the source of revenue and profit growth of major brands. The performance of these brands in 2022 will be explored through the performance of eight brands, including Caterpillar, Komatsu, Volvo Construction Equipment, Kesnel Netherlands, Trax, Olyson, Cummins and Palfiger. Later, we will explain why the American market has become the focus.
Caterpillar: The annual sales and revenue in 2022 will be 59.4 billion US dollars, up 17% year on year
The annual sales and revenue in 2022 was US $59.4 billion, up 17% from US $51 billion in 2021. This increase reflects the price increase and sales increase due to the change of agent inventory, the increase of service and the increase of end-user equipment sales. In 2022, agents increased their inventories by $2.4 billion, while in 2021 they were basically flat. The annual earnings per share in 2022 was $12.64, while the earnings per share in 2021 was $11.83. The adjusted earnings per share in 2022 was $13.84, while the adjusted earnings per share in 2021 was $10.81.
In the fourth quarter, the revenue of construction machinery in Latin America was 782 million US dollars, with the highest year-on-year growth of 39%; The revenue of construction machinery in North America was 3.535 billion US dollars, up 34% year on year; The revenue of construction machinery in the Asia-Pacific region dropped to $1124 million from $1.245 billion in the same period in 2021, a year-on-year decrease of 10%. The report pointed out that the decline in sales in the Asia-Pacific region was mainly due to the adverse currency impact caused by the yen and the Australian dollar and the decline in sales, which was partially offset by the favorable price realization.
Komatsu: From April to December 2022, the consolidated net sales were 2539.2 billion yen, up 26.0% year on year
On January 31, 2023, Komatsu's official website published its consolidated operating results for the first nine months of the fiscal year ended March 31, 2023 (April 1, 2022 to December 31, 2022). From April to December 2022, the consolidated net sales were 2539.2 billion yen, 26.0% higher than that of the same period in 2021 (2014.7 billion yen), the operating revenue increased by 54.9% to 346.6 billion yen, the net profit increased by nearly 50%, 49.1% to 231.9 billion yen.
Volvo construction equipment: the annual net sales in 2022 will be 9.577 billion US dollars, up 9% year on year
Thanks to the contribution of equipment sales and service market, Volvo's net sales of construction equipment increased by 27% in the fourth quarter of 2022 to SEK 27.596 billion (about USD 2.634 billion). The net sales adjusted by the change of exchange rate increased by 13%, of which the net sales of equipment increased by 15%, and the service sales also maintained a double-digit growth rate. In 2022, Volvo's net sales of construction equipment increased by 9% to SEK 100261 million (about USD 9.577 billion). The adjusted total operating profit for the whole year was SEK 13244 million, and the adjusted operating profit margin was 13.2%.
Caisnew Netherlands: the annual sales in 2022 will reach 21.5 billion US dollars, up 21% year on year
Recently, Casnew Netherlands released its 2022 financial report and Q4 quarterly report. Keith said that benefiting from the unexpected growth of equipment sales in the South American market, despite the challenges of high freight and raw material costs, Keith still handed out a beautiful transcript. The annual sales in 2022 increased by 21% compared with 2021, reaching 21.5 billion US dollars. The sales volume of construction machinery business in Q4 in 2022 increased by 16% year-on-year to 983 million dollars.
Oulisheng: operating revenue in 2022 was 609.7 million euros, up 18% year-on-year
In 2022, the global high-altitude operation platform market rebounded significantly. Haulotte Oulisheng achieved a revenue of 609.7 million euros in 2022, compared with 495.8 million euros in 2021, an increase of 18% year on year.
In Europe, compared with 2022, the group's overall sales increased by 12% despite the impact of the Russian market.
In the Asia-Pacific region, Haulotte Oulisheng achieved solid sales performance, and performed well in the fourth quarter, and finally achieved an annual sales increase of 38% compared with 2021.
In North America, all business activities of Haulotte Europa have made progress, making the annual sales growth rate of Haulotte Europa reach 15%. In the last quarter, the business of aerial work platform grew strongly and achieved an annual sales growth of 10%.
In Latin America, under the good market orientation of all countries, the cumulative sales of Haulotte Eurizon increased by 26%, mainly driven by Brazil.
In 2022, driven by the rebound in the Argentine market, the sales of equipment increased by 19% and the leasing activity increased by 14%. The service business reached the highest level ever, with an increase of 12%.
Trex: The sales volume in 2022 was 4.4 billion US dollars, up 13.7% year on year
Terex ended the year 2022 with strong fourth quarter results, which helped the company achieve an overall stable year. The sales volume in the fourth quarter of 2022 was 1.2 billion US dollars, an increase of 23% over the same period of the previous year. In 2022, the sales volume of Trex was US $4.4 billion, up 13.7% year on year. The company reported operating revenue of US $420 million, up 26% from 2021.
The net sales of the company's aerial work platform department in the fourth quarter of 2022 was $671.8 million, up 25.7% or $137.4 million year on year. The annual net sales in 2022 will be US $2.5 billion, up 14% year on year.
Cummins: The annual sales revenue in 2022 was 26.2 billion US dollars *, up 9% year on year
Cummins' annual sales revenue in 2022 was US $28.1 billion, * excluding the costs related to the acquisition of Mercedes-Benz, the revenue was US $26.2 billion, up 9% year on year. Compared with 2021, North American market sales increased by 18%, while international market revenue decreased by 2%.
The sales revenue of Cummins in the fourth quarter reached 7.8 billion US dollars. Excluding the impact of the acquisition of Mercedes-Benz completed on August 3, 2022, the revenue was 6.6 billion US dollars, up 13% year on year. The North American market, excluding the acquisition of Mercedes-Benz, saw a 25% month-on-month increase in sales in the fourth quarter, while the international market revenue fell by 1% month-on-month. The global market demand was strong, while the Chinese market demand slowed.
Palfiger: The revenue in 2022 was 2.23 billion euros, up 20.8% year on year
Recently, Palfiger released its annual financial statements for 2022, with the annual revenue of 2.23 billion euros, up 20.8% from 1.84 billion euros in 2021. The net profit in 2022 decreased slightly, from 155 million euros in 2021 to 150.4 million euros, and the profit margin decreased from 8.4% in 2021 to 6.8% in 2022.
