Sany profits surge 32% in 2024 ...Middle East

Shanghai-based machinery maker Sany Heavy Industry is reporting $10.88bn in revenue for 2024 – a 6.2% hike on the year before – with net profit attributed to shareholders surging by 32% to $840m.

Some $6.8bn (64%) of revenue came from international sales, up just over 12% on 2023, the company said in its 2024 results.

Most of the revenue (76%) came from earthmoving ($4.25bn), concrete ($2bn), and hoisting machinery ($1.83bn).

Sales of road machinery grew 20.8% year-on-year.

Asia and Australia drove growth in international sales, contributing $2.88bn, about 15.5% up on 2023.

African surge

The African market surged by 44% to $750m.

Sales in Europe grew 1.86% and in the Americas 6.64%, contributing $1.72bn and $1.44bn, respectively.

The company continues to decarbonise, applying 275 low-carbon patents in the year and launching 40 electric machines, with the sales exceeding 6,200 units.

Low-carbon machines generated $560m in revenue.

“In 2025 we will deepen technological innovation, strengthen risk management, and enhance governance efficiency, contributing our corporate strength to global sustainable development,” said chairman Xiang Wenbo.

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