08 03-13 hitachi construction-results_q1-2

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08 03-13 hitachi construction-results_q1-2

  1. 1. July 29, 2013 Hitachi Construction Machinery Co., Ltd. © Hitachi Construction Machinery Co., Ltd. 2013. All rights reserved. Vice President and Executive Officer Yasushi Ochiai Regional Market Environments and Projections Business Result for the First Quarter ended June 30, 2013
  2. 2. 2 Global Demand Trend for Hydraulic Excavator Japan Western Europe North America China Asia Oceania Others Total *当社推定 (複写・転用は御遠慮下さい) *中国国産メーカ含まず 24 29 47 44 73 111 70 42 51 51 28 31 33 20 10 14 23 28 34 36 37 42 52 26 15 23 27 25 22 23 32 30 24 17 10 13 19 24 27 25 17 21 29 23 29 40 48 44 48 43 18 25 36 32 15 29 38 39 41 41 223 219 202 225230 151 161 221 179 155 0 25 50 75 100 125 150 175 200 225 250 275 300 '05 '06 '07 '08 '09 '10 '11 '12 '13 '13 千台 *Inc. India 前回 見通 今回 見通 *Source HCM (Distributing, Copying, or forwarding is prohibited. ) *Excluding Chinese manufacturer(K units) Previous forecast Latest forecast Year-on-Year Change Emerging Countries: 62% ※Emerging countries: China, Asia/Oceania, and others. '12 '13 '13 Previous Forecast Latest Forecast +25% +20% +27% -7% -13% -8% +26% +15% +4% -41% +21% +21% India -21% +10% -9% Indonesia -19% +15% -9% Others +9% +5% +5% -8% +9% -2% Russia, E Europe, -3% +8% +8% Africa +39% -12% -9% Middle East -2% -1% +1% Latin America -4% +13% +13% +2% +4% +5% -10% +10% +8%Total Japan W Europe N America China Asia & Oceania Others
  3. 3. 3 -40% -20% 0% 20% 40% FY08/1Q 2Q 3Q 4Q FY09/1Q 2Q 3Q 4Q FY10/1Q 2Q 3Q 4Q FY11/1Q 2Q 3Q 4Q FY12/1Q 2Q 3Q 4Q FY13/1Q <Japan> New housing starts Capex Public spending *Source: MLIT, Cabinet Office, and Construction Survey Company. 0 5 10 15 20 Y08/1Q 2Q 3Q 4Q Y09/1Q 2Q 3Q 4Q Y10/1Q 2Q 3Q 4Q Y11/1Q 2Q 3Q 4Q Y12/1Q 2Q 3Q 4Q Y13/1Q 2Q -150% -100% -50% 0% 50% 100% 150% *Estimated by HCM(K units) 0 5 10 15 20 FY08/1Q 2Q 3Q 4Q FY09/1Q 2Q 3Q 4Q FY10/1Q 2Q 3Q 4Q FY11/1Q 2Q 3Q 4Q FY12/1Q 2Q 3Q 4Q FY13/1Q 2Q -150% -100% -50% 0% 50% 100% 150% 0 5 10 15 20 Y08/1Q 2Q 3Q 4Q Y09/1Q 2Q 3Q 4Q Y10/1Q 2Q 3Q 4Q Y11/1Q 2Q 3Q 4Q Y12/1Q 2Q 3Q 4Q Y13/1Q 2Q -150% -100% -50% 0% 50% 100% 150% Market Environment: Housing/Public Spending and Capex (y-o-y) Demand Trend for Mini Excavators Demand Trend for Hydraulic Excavators Demand Trend for Wheel Loaders ◇ Strong increase of demand derived from significant increase in public works and housing starts. ◇ Solid growth expected mainly in rental and general sectors in FY 2013. (K units) (K units) *Estimated by HCM *Estimated by HCM
  4. 4. 4 <Europe> *Ex-Works base *Source: IMF, etc. *Estimated by HCM (K units) France EUR zone UK Germany France UK Germany Italy Others France UK Germany Italy Others France UK Germany Italy Others Demand Trend for Hydraulic Excavators Demand Trend for Wheel Loaders Demand Trend for Mini ExcavatorsMarket Environment: GDP Growth Rate in Major Countries (y-o-y) ◇ The European economy has shown signs of recovery in some countries such as the UK, Germany, and Northern European countries; however the European region as a whole is still suffering from stagnation. ◇ Demand in Europe continues to fall short in compare to previous year. *Estimated by HCM *Estimated by HCM (K units) (K units)
  5. 5. 5 <North America> 0 500 1000 1500 2000 CY08/1Q 2Q 3Q 4Q CY09/1Q 2Q 3Q 4Q CY10/1Q 2Q 3Q 4Q CY11/1Q 2Q 3Q 4Q CY12/1Q 2Q 3Q 4Q CY131Q 2Q -10% -5% 0% 5% 10% Housing starts (Left axis) GDP(y-o-y/Right axis) *Bureau of Economic Census, US Census Bureau (Seasonally-adjusted) ) *Bureau of Economic Census, US Census Bureau (K units) 0 5 10 15 20 FY08/1Q 2Q 3Q 4Q FY09/1Q 2Q 3Q 4Q FY10/1Q 2Q 3Q 4Q FY11/1Q 2Q 3Q 4Q FY12/1Q 2Q 3Q 4Q FY13/1Q 2Q -100% -50% 0% 50% 100% 0 5 10 15 20 FY08/1Q 2Q 3Q 4Q FY09/1Q 2Q 3Q 4Q FY10/1Q 2Q 3Q 4Q FY11/1Q 2Q 3Q 4Q FY12/1Q 2Q 3Q 4Q FY13/1Q 2Q -100% -50% 0% 50% 100% Demand Trend for Mini Excavators Demand Trend for Hydraulic Excavators Market Environment: Construction Spending in the US (y-o-y) Market Environment: The US Market Environment ◇ The number of housing starts remains at high level ◇ The investment of residential remains at high growth ratio while non-residential and public construction sector are almost in same level as previous year ◇ Demand in N. America continues to be strong mainly in housing, energy, and rental businesses 50% 75% 100% 125% 150% CY08/1Q 2Q 3Q 4Q CY09/1Q 2Q 3Q 4Q CY10/1Q 2Q 3Q 4Q CY11/1Q 2Q 3Q 4Q CY12/1Q 2Q 3Q 4Q CY13/1Q 2Q Residential Non-residential State&Local (K units) *Estimated by HCM *Estimated by HCM(K units)
  6. 6. 6 0 2 4 6 8 10 12 14 16April M ay June July AugustSeptem ber OctoberNovem berDecem ber January February M arch 0 10 20 30 40 50 60 70 FY08/1Q 2Q 3Q 4Q FY09/1Q 2Q 3Q 4Q FY10/1Q 2Q 3Q 4Q FY11/1Q 2Q 3Q 4Q FY12/1Q 2Q 3Q 4Q FY13/1Q 2Q -150% -100% -50% 0% 50% 100% 150% <China> *当社推定 Domestic Foreign 0% 10% 20% 30% 40% CY08/1Q 2Q 3Q 4Q CY09/1Q 2Q 3Q 4Q CY10/1Q 2Q 3Q 4Q CY11/1Q 2Q 3Q 4Q CY12/1Q 2Q 3Q 4Q CY13/1Q 2Q 0 5 10 15 20 North China -48%/-57%/-59%/-27% North West -47%/-49%/-37%/-9% South West -30%/-12%/-11%/45% North East -60%/-69%/-61%/1% South Middle China -40%/-40%/-34%/7% East China -44%/-39%/-18%/36% Total China -43%/-40%/-32%/11% (y-o-y) Fixed Assets Investment, (y-o-y) (Left axis) GDP(Right axis) (annualized) Source: National Bureau of Statistics of China *Foreign Manufactures only *Estimated by HCM FY13 Forecast FY 12 Actual FY11 Actual Market Environment: GDP and Fixed Asset Investment Demand Trend for Hydraulic Excavators Quarterly Demand for Hydraulic Excavators by Region (y-o-y) Monthly Demand Trend of Hydraulic Excavators in China (K units) (%) ◇ The demand in China, which continued to decline for 23 months consecutively, has turned positive since April 2013 , but still careful observation is required to gauge the future direction. ◇ Demand in South West, East China and South Middle China increased from the previous year. ◇ Increased demand in small-medium size works for irrigation and infrastructure projects. *Estimated by HCM FY12 2Q/3Q/4Q/FY13 1Q 【Chinese New Year】 Jan 23, 2012 Feb 10, 2013 Jan 31, 2014 ※Actual of April ~June 2013 (K units) *Estimated by HCM *Foreign Manufactures only
  7. 7. 7 《Topics》 Chinese Market 0% 20% 40% 60% 80% 100% FY11/1Q 2Q 3Q 4Q FY12/1Q 2Q 3Q 4Q FY13/1Q Demand Composition by Class for Mini Excavators and Hydraulic Excavators 0 5 10 15 Apr May Jan Jul AugSepOct Nov Dec Jan Feb Mar Apr May Jun Jul AugSepOct Nov Dec Jan Feb Mar Apr May Jun -80% -60% -40% -20% 0% 20% (K units) Monthly Demand Trend for Hydraulic Excavator FY 2012 FY2013 * Foreign Manufacturers Only (y-o-y) 【Chinese New Year 】 Jan 23, 2012/Feb 10, 2013/Jan 31, 2014 * Estimated by HCM FY 2011 15tbelow 20~39t ~10t 20t 10~15t 21~29t 30~39t 40t- * Estimated by HCM * Foreign Manufacturers Only
  8. 8. 8 <Asia/Oceania and India> Thai Malaysia Singapore Indonesia India Thai Malaysia Singapore Australia Indonesia NZ Others ◇ GDP Growth rate remains firm. ◇ Although the Indian market has firm demand related to infrastructure, the future of the economy as a whole remains unpromising. ◇ The Indonesian market suffers from resource prices decrease, and it has been slowing down since many projects are delayed. (%) 0 1 2 3 4 5 FY08/1Q 2Q 3Q 4Q FY09/1Q 2Q 3Q 4Q FY10/1Q 2Q 3Q 4Q FY11/1Q 2Q 3Q 4Q FY12/1Q 2Q 3Q 4Q FY13/1Q 2Q -150% -100% -50% 0% 50% 100% 150% 0 5 10 FY08/1Q 2Q 3Q 4Q FY09/1Q 2Q 3Q 4Q FY10/1Q 2Q 3Q 4Q FY11/1Q 2Q 3Q 4Q FY12/1Q 2Q 3Q 4Q FY13/1Q 2Q -150% -100% -50% 0% 50% 100% 150% *Estimated by HCM(K units) Demand Trend for Hydraulic Excavators in Asia & Oceania Demand Trend for Hydraulic Excavators in India Market Environment :Real GDP Growth Rate (y-o-y) *Estimated by HCM(K units) *Source: IMF, etc.
  9. 9. 9 石炭・パームオイル先物・木材価格 0 500 1000 '08 '09 '10 '11 '12 '13 '14 0 100 200 300 400 500 (US$/t) (US$/t) 0 1 2 3 4 FY08/1Q 2Q 3Q 4Q FY09/1Q 2Q 3Q 4Q FY10/1Q 2Q 3Q 4Q FY11/1Q 2Q 3Q 4Q FY12/1Q 2Q 3Q 4Q FY13/1Q 2Q -100% -50% 0% 50% 100% *Estimated by HCM (K Units ) <Topics>Indonesian Market Coal price are weak Palm oil/Lumber price are weak Coal (Right axis) Lumber (Right axis) Palm Oil (Left Axis) * Created by HCM , the source from IMF HP <Source: IMF> Demand for Hydraulic Excavators (y-o-y) 0% 50% 100% 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q Demand Composition for Hydraulic Excavators by Classes *Estimated by HCM ~16t 30~40t 16~30t 40~75t 75t~ FY11 FY12 FY13 * Dotted lines, the forecast by IMF as of March 2013 Price of Thermal coal, Palm Oil Future and Lumber
  10. 10. 10 <Russia and the Middle East> *Source IMF/World Bank UAE KSA Turkey Others 0 1 2 3 4 5 FY08/1Q 2Q 3Q 4Q FY09/1Q 2Q 3Q 4Q FY10/1Q 2Q 3Q 4Q FY11/1Q 2Q 3Q 4Q FY12/1Q 2Q 3Q 4Q FY13/1Q 2Q -200% -100% 0% 100% 200% (K units ) (US$) Demand Trend for Hydraulic Excavators in Russia Demand Trend for Hydraulic Excavators in Middle EastMarket Environment: Price Trend of Crude Oil and Natural Gas *Estimated by HCM *Ex-Works base *Incl. Local manufacturing (US$) Crude Oil (Left axis) Natural Gas (Right axis) <Estimated by World Bank> *Estimated by HCM *Ex-Works base (K units) 【Russia】 Demands for energy and infrastructure are same level as previous year. 【Middle East】 Demand for urban development and infrastructure is strong in Turkey and Saudi Arabia. 《Topics》 New Customer for major Russian Iron Ore Mine ordered 2 units of EX5600E-6LD 08 09 10 11 12 13 14
  11. 11. 11 0 200 400 600 FY08/1Q 2Q 3Q 4Q FY09/1Q 2Q 3Q 4Q FY10/1Q 2Q 3Q 4Q FY11/1Q 2Q 3Q 4Q FY12/1Q 2Q 3Q 4Q FY13/1Q 2Q -100% 0% 100% 0 200 400 600 FY08/1Q 2Q 3Q 4Q FY09/1Q 2Q 3Q 4Q FY10/1Q 2Q 3Q 4Q FY11/1Q 2Q 3Q 4Q FY12/1Q 2Q 3Q 4Q FY13/1Q 2Q -100% 0% 100% *Estimated by HCM<Mining Machinery> Demand Trend for Ultra-large Hydraulic Excavators (100t and over) ◇ Resource prices remain unfavorable, and recovery of the mining market cannot be expected within FY 2013. ◇ Demand will fall 10% below the previouse forecast. Demand Trend for Mining Dump Trucks (150t and over) 0 100 200 300 400 500 1st half 10 2nd half 10 1st half 11 2nd half 11 1st half 12 2nd half 12 1st half 13 Demand Trend by Region Ultra-large Excavators Demand Trend by Region Mining Trucks 0 200 400 600 800 1000 1st half 10 2nd half 10 1st half 11 2nd half 11 1st half 12 2nd half 12 1st half 13 Africa M. East Asia China Oceania Eur, Russia CIS N. America L. America Africa M. East Asia China Oceania Eur, Russia CIS N. America L. America (Units) *150t and over *100t and over *Estimated by HCM *Estimated by HCM *Estimated by HCM (y-o-y) (y-o-y) *Estimated by HCM (Units)
  12. 12. © Hitachi Construction Machinery Co., Ltd. 2013. All rights reserved. For further inquiries: Norio Hayamizu Public Relations Strategy office END TEL : 03-3830-8065 FAX : 03-3830-8224

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