fbpx
Print this page
Thursday, 16 June 2022 13:55

Kubota earnings boosted by farming, construction

Written by  Mark Daniel
Kubota’s farm machinery sales soared in the past year. Kubota’s farm machinery sales soared in the past year.

Japanese company Kubota Corporation has reported that a solid performance by its farm and construction machinery divisions in both domestic and export markets was largely responsible for the 18.5% increase in revenue last year to ¥2,196.8b (US$19b) during 2021.

Nearly 85% (¥1,864.8b/US$16.1b) was generated by tractors, farm equipment brands including Kverneland and Great Plains, which alongside engines was up 23.6% on 2020.

Revenue at home in Japan increased by 1.3% from the previous year to ¥602.8b (US$5.2b), while ag and construction machinery export revenue increased 27.8% to ¥1,554.3b (US$13.4b).

Export sales were driven by the strong demand for tractors and construction machinery in North America, Europe and Australia, while farm equipment sales were strong in India.

While the domestic farm and construction machinery market is expected to remain static during 2022, exports are forecast to increase with continued solid demand in North America and Europe, likely to drive a further increase in consolidated revenue for 2022 to ¥2,450.0b (around US$21b).

In other Kubota news, the manufacturer plans to launch the world’s first hydrogen-powered fuel cell tractor in 2025, initially for the European and American markets. Reports suggest that progress is well advanced in developing tractors ranging from 50 to 100 horsepower, with a prototype ready by 2023. Prices are expected to be around 40% higher than current diesel-powered alternatives.

Published in Machinery & Products

More like this

LDV unveils all-new Terron 9 Elite ute

As if there wasn’t enough choice in the New Zealand ute market, LDV New Zealand is expanding its offering, by showcasing the all-new Terron 9 Elite at Fieldays.

John Deere acquires Sentera to boost smart farming capabilities

While tractors combines and machinery for agriculture and construction is still its key business, John Deere appears to be taking opportunities in the hightech sector via acquisition, with the recent purchase of Sentera, a Minnesota-based company that specialises in equipment for capturing and interpreting aerial images.

Fendt 600 Vario Series arrives in NZ

Released in New Zealand earlier in the year, the new Fendt 600 Vario series, serving the 150-200hp category, is a compact and manoeuvrable 4-cylinder tractor with high performance and payload, at a low power-to-weight ratio.

Popular Reads

Featured

Big return on a small investment

Big return on a small investment

Managing director of Woolover Ltd, David Brown, has put a lot of effort into verifying what seems intuitive, that keeping newborn stock's core temperature stable pays dividends by helping them realise their full genetic potential.

Editorial: Sensible move

OPINION: The Government's decision to rule out changes to Fringe Benefit Tax (FBT) that would cost every farmer thousands of dollars annually, is sensible.

National

Machinery & Products