06.09.2016

Strong sales rise at Haulotte

Haulotte has reported a 16 percent jump in half year sales and service revenues but saw a steep fall in profits

Total revenues for the first six months were €239.8 million, 16 percent up on the same period last year. This was made up of an 18 percent jump in new machine sales to €203.4 million, due mostly to a 30 percent increase in Europe, coupled with a nine percent improvement in North America, and one percent in Asia, offset by a six percent fall in South America. Rental revenues edged up two percent to €12.7 million, while services increased eight percent to €23.7 million. All at constant exchange rates.

Operating profit for the period dropped 19 percent to €14.5 million with net profit plunging 42 percent to €9.9 million. This due to more competitive market pricing in Europe, and some exchange related issues.

The company expects to end the year with a five percent increase in revenues, the lower number due to comparison with a particularly strong fourth quarter in 2015. It does however expect its margins to improve over the rest of the year.

Vertikal Comment

In terms of sales this is an excellent result from Haulotte which is almost certainly benefiting from a pick-up in southern and central Europe where it is traditionally very strong, coupled with ongoing progress in Northern Europe countries.

The company is also continuing to make progress in the USA where it now has a solid position. The level of the profit drop is surprising, but probably more reflective of the pricing levels in the markets that have increased the most.

The company only publishes a limited amount of information at this stage of the year so any further analysis is difficult. But all in it looks like the company is at the start of a strong upward trend.