22.10.2024

Slow quarter for Haulotte

French aerial lift manufacturer has reported its third quarter sales revenues, which show an ongoing slowdown, at least in terms of new machine sales.
YTD

Total revenues for the nine months to the end of September came in at €509 million down 11 percent on the same period in 2022.

New equipment sales for the period declined 12 percent to €437 million, with lower sales in Europe and Asia, partly compensated by growth in North America - all be it at a slower pace, along with South America,

Rental revenues, fell a further seven percent to €16 million.

Parts and service revenues increased five percent to €56 million.

Geographic growth

- Europe -20%
- Asia-Pacific -17%
- North America +3% - driven by a 6% increase in aerial work platform sales.
- South America +10%

2024 Outlook:

Haulotte is forecasting a 10 percent decline in full year sales revenues, but still expects to achieve a full year operating profit margin of around five percent.
Note: Haulotte does not usually publish financial results in the third quarter

Vertikal Comment

This result is perhaps slightly weaker than we might have expected, but the company is still expecting a to record a positive year in terms of profitability while placing itself in a good position for it a pick up sometime in 2025, placing it on a positive trajectory again,