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Komatsu’s fiscal year ended in 2023 with sales of around $24.8 billion, a 9.1% increase over FY 2022. Operating income increased to $3.9 billion, a 23.7% gain. Equipment for mining, construction, and utilities had increases in sales of 9.7% to $23.2 billion and profits of 29.4% to almost $3.7 billion.
According to the corporation, demand in Latin America, Europe, and Asia fell while it was “steady” in North America. Sales in North America were $6.4 billion for the year, 15% more than in the previous fiscal year. Its second-largest market, Latin America, saw a 21% increase in sales, reaching over $4.2 billion.
The year-over-year increase in sales was ascribed to both rising machine prices and growing revenues from spares and services. An further factor in the company’s growing operational profits was price rises.
Citing rising interest rates and energy costs, the business stated in its outlook for the following fiscal year, which runs from April 2024 to March 2025, that it expected demand for construction equipment to fall. Construction, mining, and utility industry sales are expected to fall 1.7% overall, while North American sales are expected to increase 6.8%.
Group Media Publication
Construction, Infrastructure and Mining
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