Sany Heavy Industry H1 revenue rises 19.5% YoY to $7.9B
Chinese construction OEM generated $4.7B in overseas revenue, up 21.8% YoY
Sany Heavy Industry accelerated growth in the first half as international markets drove the majority of its core business revenue and demand increased across major equipment categories.
Sany Heavy Industry reported $7.9 billion in revenue for the first half, up 19.5% year over year, according to today’s Sany release.
The Chinese construction equipment manufacturer generated $4.7 billion in overseas revenue, up 21.8% YoY, representing 61.3% of core business revenue. It said it continues to expand its international sales, service, product development and manufacturing operations.
By the numbers
- Second-quarter revenue increased 24.4% YoY to $4.33 billion;
- Excavation machinery revenue rose 21.8% YoY to $3.14 billion;
- Concrete machinery revenue increased 21.3% YoY to $1.33 billion;
- Lifting machinery revenue rose 8.2% YoY to $1.25 billion; and
- Piling machinery revenue jumped 63.1% YoY to $322.4 million.
Sany said it will continue advancing its globalization, digitalization and decarbonization strategies while investing in product innovation, manufacturing efficiency, quality and profitability.
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