Tadano Ltd. · TSE:6395
Tadano — H1 2025 Earnings Presentation
17 slides from Tadano's earnings presentation, Aug 8, 2025
Slide 1: Consolidated Financial Results for 1st Half of FY 2025
Consolidated Financial Results for 1st Half of FY 2025 (January 1, 2025 through June 30, 2025) August 8, 2025 Tadano Ltd.
Slide 2: Notes
＜Notes＞ ⚫ Forward-looking statements contained in this report are based on information available as of the date this report was prepared. A variety of factors may cause actual results to differ from projections. ⚫ Presentation of demand and share: • Figures showing demand based on Tadano research ar
Slide 3: Key Points of 1st Half of FY 2025 Financial Results
Key Points of 1st Half of FY 2025 Financial Results ✓ Net sales increased, but profit decreased due to M&A expenses leading to increase in selling, general and administrative expenses. （Unit: millions of yen） 2024 Jan-Jun 2025 Jan-Jun Change Amount % Amount % Amount % Net sales 141,381 100% 164,791
Slide 4: Income Statement
Income Statement （Unit: millions of yen） 2024 Jan-Jun 2025 Jan-Jun Change Amount % Amount % Net sales 141,381 100% 164,791 100% 23,409 Cost of sales 98,598 69.7% 120,223 73.0% 21,625 Gross profit 42,783 30.3% 44,567 27.0% 1,783 Selling, general and administrative expenses 30,499 21.6% 35,711 21.7% 5
Slide 5: Major Factors Leading to Change in Operating Profit (Year over Year)
Major Factors Leading to Change in Operating Profit (Year over Year) ✓ Operating profit decreased by ¥3.4 billion due to temporary factors including M&A expenses and increase in expenses. (Millions of yen) 16,000 2,300 14,000 (500) “Other” includes the following (300) ・Increases in raw material pric
Slide 6: Balance Sheet
Balance Sheet ✓ Cash deposits and Interest-bearing debt increased due to preparation for impact of U.S. tariffs. ✓ Inventories, fixed assets and interest-bearing debt increased due to acquisition of Manitex. （Unit: millions of yen） As of As of As of As of Change Change Dec 31, 2024 Jun 30, 2025 Dec
Slide 7: Net Sales by Product
Net Sales by Product ✓ Net sales increased in all product segments. Net Sales by Product （Unit: millions of yen） （Millions of yen） 2024 2025 Change 350,000 Jan-Jun Jan-Jun Amount % Mobile Cranes 97,813 103,127 5,314 5.4% 300,000 Japan 23,186 21,995 (1,190) (5.1)% Outside Japan 74,627 81,132 6,504 8.
Slide 8: Net Sales by Region
Net Sales by Region ✓ Net sales increased mainly in Europe and North America due to acquisition of Manitex, while decreased in Asia and Oceania. （Unit: millions of yen） （Millions of yen） Outside Japan Net Sales by Region 2024 2025 Change 200,000 80% Jan-Jun Jan-Jun Amount % 175,000 70% Europe 16,176
Slide 9: Trends in Global Demand for Mobile Cranes (excluding Chinese market)
Trends in Global Demand for Mobile Cranes (excluding Chinese market) Colored lines: yearly demand trends with lowest levels in each market normalized to the value of 1 (Base Years: 2010[North America, Europe], 2009[Japan]) (Units) Europe North America Japan 16,000 14,000 * Starting from 2010, the gr
Slide 10: Mobile Cranes (RT・AT・TC)
Mobile Cranes (RT・AT・TC) ✓ Demand decreased mainly in Europe and Asia, and total demand decreased by about 5%. ✓ Total share 12% → 12%. Demand (Units) Share 2024 2025 2024 2025 Change Jan-Jun Jan-Jun Jan-Jun Jan-Jun GT-1200XL Europe 870 760 (12.6)% 7% 5% 2025 Jan-Jun Demand by Model North 780 780 0.
Slide 11: Truck Loader Cranes
Truck Loader Cranes ✓ Net sales for outside Japan increased significantly due to acquisition of Manitex. 〈Sales by Region〉 （Unit: millions of yen） 2024 2025 Change Jan-Jun Jan-Jun Amount % Japan 8,314 8,929 614 7.4% Outside Japan 1,074 10,350 9,275 862.9% Knuckle Boom Cranes by PM Oil & Steel Total
Slide 12: Aerial Work Platforms
Aerial Work Platforms ✓ Net sales for Japan increased due to expansion of truck-mounted aerial work platforms. ✓ Net sales for outside Japan increased significantly due to acquisition of Manitex. 〈Sales by Region〉 （Unit: millions of yen） 2024 2025 Change Jan-Jun Jan-Jun Amount % Japan 9,473 11,473 2
Slide 13: Other Business
Other Business ✓ Parts repairs sales increased. （Unit: millions of yen） 2024 2025 Change Jan-Jun Jan-Jun Amount % Parts Repairs 20,522 24,483 3,960 19.3% Used Cranes Other Products 3,522 3,776 254 7.2% Total 24,045 28,259 4,214 17.5% Net Sales of Parts and Repairs Net Sales of Used Cranes and Other
Slide 14: FY 2025 Business Performance Forecast
FY 2025 Business Performance Forecast （Unit: millions of yen） 2025 Jan-Dec Forecast 2025 Jan-Dec Forecast 2024 Jan-Dec Change (as of February 14th) (as of August 8th) Amount % Amount % Amount % Amount % Net sales 291,500 100% 340,000 100% 355,000 100% 15,000 4.4% Operating profit 23,778 8.2% 24,000
Slide 15: FY 2025 Forecast (Major Factors Leading to Change in Operating Profit Year over Year)
FY 2025 Forecast (Major Factors Leading to Change in Operating Profit Year over Year) ✓ Operating profit is forecasted to decrease by ¥5.7 billion due to impact of U.S. tariffs in addition to temporary factors including M&A expenses and increase in expenses. (Millions of yen) 30,000 4,100 (1,200) 25
Slide 16: FY 2025 Forecast (Net Sales by Product)
FY 2025 Forecast (Net Sales by Product) ✓ Reflecting three most recent M&A, product segment of LE (Lifting Equipment) business has been categorized into “Mobile LE” and “Static LE”. ⚫ Mobile LE： Product lineup previously developed by Tadano. Products by Tadano Utilities (acquired in February 2024) a
Slide 17: FY 2025 Forecast (Net Sales by Region)
FY 2025 Forecast (Net Sales by Region) （Millions of yen） Outside Japan Net Sales by Region （Unit: millions of yen） 250,000 75% 2024 2025 Jan-Dec Change Jan-Dec Forecast Amount % Europe 28,503 48,000 19,496 68.4% 200,000 60% North America 99,007 127,500 28,492 28.8% Latin America 5,468 11,500 6,031 1