Haulotte sales hit by global markets and Covid-19
By Euan Youdale14 April 2020
Haulotte recorded revenues of €132.9 million in the first quarter of 2020, at constant exchange rates, compared to €163.2 million in the same period last year, which had been a record first quarter in the group’s history. This represented a 19% drop between the two periods, and marked a return to 2018 levels. The manufacturer has also suspended its financial guidance for the year.
In a European market that started its slowdown in the second half of 2019 and was further impacted by Covid-19 from the beginning of March this year, Haulotte’s cumulative sales were down 23%, compared to the same period last year. They were most impacted by Southern Europe, the area worst affected by the pandemic at that time.
In Asia-Pacific, where all markets are in sharp decline, the group reported a 13% drop in sales for the quarter compared to the same period in 2019.
In North America, the Group experienced a lesser decline in sales of 2% in the first quarter of 2020, with aerial platform sales showing growth of 10%, in a market that is generally in decline, said the company.
In Latin America, the vast majority of markets continued to decline, with the exception of Brazil, which is now on the rise. In this context, sales in the area decreased by 25% compared to the same period last year.
Looking at Haulotte’s divisions, equipment sales were down 20% at the end of the first quarter, rental activity was down 22% and service activity was down 8%.
Given the uncertainties regarding the duration and extent of the Covid-19 crisis, Haulotte has suspended its financial guidance for the year and will communicate this financial information as soon as the situation becomes clearer. “The Group has already taken all the necessary measures to best manage the first consequences of this unprecedented crisis and enable Haulotte to calmly address its next steps.”