21.09.2007

Haulotte profits jump

Haulotte has confirmed the first half revenues from its earlier trading statement and reported an even stronger profits increase for the period.
See New record for Haulotte
Operating profits were up by almost 46 percent to nearly €59 million or 19 percent of sales, compared to 17 percent last year.

Net profit before tax leapt by 45 percent to €57.5, while net profits after tax rose by 39 percent to over €37 million, over 12 percent of sales.

Order intake for the period was up by more than 50 percent allowing the company to confirm its initial forecasts of a 25 percent increase in sales this year.

Haulotte will also open new company stores in the Middle East and South America before year-end, while output at its two new production facilities in Spain and Romania, both of which began to come on line in March, is growing according to plan. The company expects the two plants to ship over a 1,000 units this year.


Vertikal Comment

Haulotte continues to not only grow, but also turn in exceptional profits for its sector, 2007 looks to be in the bag with revenues of €650 million and an after tax profit of €78 million.

However it has plenty of challenges on its plate for 2008, JLG and Genie are both boosting their European production capacity and concentrating resources on the European market. At the same time Skyjack is both introducing its boom lifts and expanding its European coverage. UpRight also continues to gain momentum, boosted by its Snorkel acquisition, with plans to expand its range still further.

It is true that all this extra activity will help boost the market for aerial lifts in Europe, which still has some way to go in comparison with North America. However Haulotte is the only one of the top five producers without a strong base in North America and might find it difficult to maintain its current growth and profitability levels.

However Haulotte has a track record of rising to almost any challenge that is thrown at it. The company has a strong balance sheet, good cash flow and with its flat organisation can react fast to changing circumstances.

2008 is shaping up to be a very interesting year.