HAITIAN
Increased exports contribute to improvement in 2011 operating profit / Sales mix shifts towards higher margin, larger machines
Injection moulding machinery manufacturer Haitian (Hong Kong / China; www.haitian.com) has reported a 4% year-on-year increase in operating profit in 2011 to CNY 1.10 bn (EUR 122m) on sales down marginally at CNY 7.03 bn (EUR 776m). The company said that while the price of steel and related components, which account for 40% of costs, had remained relatively stable, other raw material cost increases had been offset by economies of scale and improved product mix.
Export sales increased and sales of medium-to-large tonnage plastic injection moulding machines, which have a higher margin than domestic and small tonnage machines, had also gained, Haitian said. A year-on-year decline in Chinese domestic sales of 7% to CNY 4.85 bn (EUR 538m) was substantially offset by the growth in export sales of 17% to CNY 1.99 bn (EUR 221m). Sales of medium-to-large tonnage machines increased by 1.3% compared with 2010 to CNY 2.50 bn (EUR 297m) and there was a 2.5% fall in sales of small tonnage machines to CNY 4.35 bn (EUR 517m).
During the year, Haitian’s output of machines fell from around 30,000 units to 27,000 units, while the average selling price increased from CNY 229,000 (EUR 27,200) in 2010 to CNY 253,000 (EUR 30,000) in 2011, reflecting the change in sales mix towards medium-to-large tonnage and higher-value-added machines.
Looking ahead, Haitian said that it was unrealistic to expect that the European sovereign debt crisis, tightening Chinese monetary policies and looming concerns over growth in the global economy can be entirely eased in the short-term. However, it had noted some positive signals from the market at the beginning of 2012 and with gradual restoration of consumer confidence had seen order levels gradually picking up from a trough at the end of 2011. The company said that, backed by a long-term development strategy focusing on innovation, product enhancement and globalisation, it is confident that it will continue to grow its business to gain market share and increase product development in 2012.
e-Service:
Haitian announcement of annual results for the year ended 31 December 2011 as a PDF document
Export sales increased and sales of medium-to-large tonnage plastic injection moulding machines, which have a higher margin than domestic and small tonnage machines, had also gained, Haitian said. A year-on-year decline in Chinese domestic sales of 7% to CNY 4.85 bn (EUR 538m) was substantially offset by the growth in export sales of 17% to CNY 1.99 bn (EUR 221m). Sales of medium-to-large tonnage machines increased by 1.3% compared with 2010 to CNY 2.50 bn (EUR 297m) and there was a 2.5% fall in sales of small tonnage machines to CNY 4.35 bn (EUR 517m).
During the year, Haitian’s output of machines fell from around 30,000 units to 27,000 units, while the average selling price increased from CNY 229,000 (EUR 27,200) in 2010 to CNY 253,000 (EUR 30,000) in 2011, reflecting the change in sales mix towards medium-to-large tonnage and higher-value-added machines.
Looking ahead, Haitian said that it was unrealistic to expect that the European sovereign debt crisis, tightening Chinese monetary policies and looming concerns over growth in the global economy can be entirely eased in the short-term. However, it had noted some positive signals from the market at the beginning of 2012 and with gradual restoration of consumer confidence had seen order levels gradually picking up from a trough at the end of 2011. The company said that, backed by a long-term development strategy focusing on innovation, product enhancement and globalisation, it is confident that it will continue to grow its business to gain market share and increase product development in 2012.
e-Service:
Haitian announcement of annual results for the year ended 31 December 2011 as a PDF document
27.03.2012 Plasteurope.com [221942-0]
Published on 27.03.2012
German version of this article...