04.03.2008

Gehl down 6%

Gehl, the US based manufacturer of Skid steer loaders and telehandlers, sold under the Gehl and Mustang brands, has released its full year 2007 results. Revenues fell six percent compared to 2006 to $458 million.

The decline was driven by a fall in housing construction which, says the company, caused a 28 percent fall in the North American market for telescopic handlers. Gehl claims that while its sales declined it managed to boost its share of the telehandler market by nine percent.

Gehl also reported improved export sales which grew by 31 percent to $131 million, partially offsetting the domestic downturn.

Pre-Tax profits dropped by over 12.5 percent to $37.35 million.

The company’s order book hit a low at the end of December of just $39.6 million but 2008 has got off to a better start with the backlog improving substantially to a respectable $95.9 million.

The company is predicting compact equipment sales to fall by between 10 to 30 percent but is forecasting a further fall in 2008 revenues of around 10 percent with full year sales anticipated in the $405 to $425 million range. Gehl expects to outperform the market by making further market share gains while boosting exports.