Sany revenue soars 60% of core business
Sany Heavy Industry, a leading heavy machinery manufacturer, has reported a strong growth in international revenues in its recently announced annual results for 2023. The company reported $10.43 billion in total revenues for the year 2023, down 8.44 per cent year-on-year. Despite a challenging market, the decrease in revenue showed a narrowing decline of 15.92 percentage points compared to the previous year's changes.
Sany鈥檚 net profit totalled $648.74 million in 2023, posting a 4.16 per cent year-on-year expansion. Its net cash flows from operating activities surged by 39.20 per cent to reach $803.87 million.
The year 2023 was pivotal for Sany as its international business flourished. In 2023, the company recorded $6.1 billion in international business revenues, marking an 18 per cent year-on-year increase and accounting for nearly 60 per cent of its main business revenues.
Such significant growth highlights Sany鈥檚 successful transition to a multinational engineering machinery conglomerate, with its sales spanning over 180 countries and regions. The sales revenues in Asia and Australia amounted to $2.32 billion, up 11.1 per cent year-on-year, while the European region generated $2.3 billion, a substantial growth of 37.97 per cent. The American market brought in $1 billion, rising 6.82 per cent, and the African region contributed $411.8 million, up by 2.56 per cent.
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