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Hyster-Yale reports growth

2021-08-05 17:09 Kind:转载 Author:Hyster-Yale Source:Hyster-Yale
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Hyster-Yale Materials Handling has announced record Q2 2021 orders of 46,900 units, up 10.6% from Q1 2021. Shipments increased even...

Hyster-Yale Materials Handling has announced record Q2 2021 orders of 46,900 units, up 10.6% from Q1 2021. Shipments increased even more - up 12.9%, while revenues increased 17.0% - from abnormally low Q2 2020 unit shipment and revenue levels that resulted from prior-year, pandemic-related plant shutdowns, primarily in EMEA

For the six months ended June 30, 2021, the company reported consolidated revenues of USD1.5 billion and net income of USD7.5 million.

Hyster-Yale's market continued to grow

The forklift market continued to grow, but at a more moderate pace in the 2021 second quarter. However, continuing global supply chain and logistics constraints caused significant component shortages, as well as significant material and freight cost inflation. These supply chain and logistics constraints had a severe impact on the company's ability to ship products, especially higher-priced products, out of backlog, and this, coupled with constantly rising material and logistics costs, led to a substantial decrease in margins, directors explain.

Revenues in the Americas segment increased 5.3% to USD479.1 million in the second quarter of 2021. Unit shipments were comparable to the prior-year second quarter. Increases in shipments of Class 5 trucks, primarily lower-capacity internal-combustion engine trucks, and Class 2 warehouse trucks were offset by fewer shipments of Class 1 electric counterbalance trucks, Class 3 electric warehouse trucks and Class 4 internal-combustion engine trucks.

Revenues for the EMEA region increased 45.8% to USD175.1 million in the second quarter of 2021 as a result of higher unit and parts volumes and favourable currency movements. Unit shipments increased over the prior-year quarter by approximately 1,500 units mainly because the prior year included approximately six weeks of pandemic-related plant shutdowns. Unit shipments increased in all classes except Class 5 lift trucks.

In Asia, revenues rose 35.4% to USD65 million on the back of higher unit volumes resulting from an increase in shipments of approximately 1,200 units over the prior year. The increase in unit volume was driven by higher shipments in all lift truck classes except Class 5.

The financial results also include a revenue rise at Bolzoni, thanks to higher sales volumes.

Energy subsidiary Nuvera recorded a decrease in revenues, primarily as a result of fewer sales of fuel cell engines for forklift truck battery-box replacements.

Looking ahead, Hyster-Yale notes that forklift market growth for the remainder of the year is expected to decrease compared with the high levels in the first half of 2021 as markets begin to return toward pre-pandemic levels. As a result, the business is anticipating a substantial decrease in bookings in the second half of 2021 compared with the first half of 2021.

Directors warn that further Hyster-Yale shutdowns or supplier shortages could occur as a result of the new Delta variant that has emerged globally. Lockdown measures are still in place in a number of European and Asian countries to mitigate the spread of the COVID-19 virus and its variants, and similar actions could be taken by other countries.

"At this time, the lockdown measures in place have not required closure of the company's plants. The company is monitoring this situation, including closely monitoring a number of suppliers based in areas where COVID-19 cases are high. The company continues to maintain procedures designed to limit the exposure of employees to COVID-19."

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