2023 was always going to be an interesting year for us here at MIMICO, loaded with both change and opportunity. As we head towards the end of Q1, our business moves closer to a significant milestone with the conclusion of our equipment sales relationship with the Kobelco brand scheduled for June 30 this year.
MIMICO has enjoyed over 12 years with the Kobelco brand and has developed a strong customer base in the excavation construction segment. Since the December 2022 announcement our Senior Management Team has worked tirelessly to ensure the transition for the business is well understood by our staff and customers.
Reviewing the industry sales statistics, the market is seeing fewer excavator sales compared to the same time last year. Q4 2022 started showing signs of a flattening in the excavation sales market. Final Q1 results will inform us if the change in trajectory was merely a speed bump or part of a more significant macro trend.
Financial year-end is also on the horizon and FY23 is shaping to finish up as our strongest revenue year on record. Highlights for the 2022 year saw MIMICO outperform previous year’s sales in the excavator segment. This is despite limited stock availability from the factory for mini excavators. The Wellington region finished strongly with 15% market share.
“The crushing and screening line, led by Garth Taylor and his team, continues to maintain a strong market position.”
The crushing and screening line, led by Garth Taylor and his team, continues to maintain a strong market position. It’s driven by a combination of an experienced business team, the strongest technical knowledge in the industry, and a market leading product offering. This business line will greatly benefit from the National Sales Team pivoting focus and gearing up to drive this business line deeper in FY24.
The sales team at Future Roads.
In the roading, compaction and paving segment Dynapac outperformed previous results with a firm hold on number 2 position in the market. MIMICO and Dynapac have a strong desire to achieve number 1 in this segment in 2023.
The roading and infrastructure sector is a hot topic in an election year, with many commentators speaking to the poor conditions of the national network. And this was before the devastation caused by recent flooding and cyclones.
You might have to wonder if councils from our major centers are frantically reviewing their risk modelling and infrastructure capabilities when it comes to managing higher volumes of storm water.
“Customers and competitors often speak to me of our standing in the marketplace and the quality of our relationships.”
Customers and competitors often speak to me of our standing in the marketplace including the quality of our relationships with many of our customers. It often defines what we frame as The MIMICO Way, driving our service levels and our business culture.
This, in my view, is driven by the fact that we are a large-small business from humble beginnings, who remains well grounded. Whilst having a nationwide footprint, MIMICO benefits from having a relatively flat organizational structure. This ensures we remain agile, and the business always remains focused on its people and customers.
For me, within heavy industry in New Zealand our sales team are second to none. We are known for going about our business quietly and getting it done. Our team takes a lot of pride in what they do and how we do it. The culture within our environment is something we always work on and continuously develop. It is an integral part of our resilience and satisfaction as a team.
There are challenging days ahead for us as we reshape our MIMICO sales lines. Our teams view this as an exciting challenge loaded with new possibilities and opportunity.
I look forward to some exciting new announcements scheduled for Q3 and with the events calendar locked and loaded I am excited to meet up with many of our customers across the country over the coming months.
All the best
SHANE RAU | NATIONAL SALES & MARKETING MANAGER
