Haulotte Group’s net sales grew 11% to €510 million in its 2017 financial year, compared to €457.8 million in 2016.
The increase was driven mainly by the sustained growth of the European market and an improvement in its equipment sales mix. Excluding foreign exchange rates, Haulotte achieved 12% revenue growth.
Despite the rise in raw material prices and emerging tensions over component availability, Haulotte Group posted an operating income (excluding foreign exchange rates) up sharply by 56% to €37 million, compared to 2016.
“The good operating performance was offset by the negative evolution of the Euro Dollar exchange rate and the provisions for risks recorded in the first half,” said Haulotte in its financial statement. At the end of the year and despite the continuing decline in the cost of debt interest, consolidated net income totalled €17.7 million, or 3.5% of sales, down 24% from 2016.
Over the period, the Group’s net debt continued to decline sharply, by €17.4 million, excluding guarantees, said the company, due to the strong operational performance and good control of working capital.
As a result, Haulotte is forecasting close to 10% revenue growth in 2018. “The continued strengthening of the commercial offer plus increased focus on research & development programmes, along with the continued bullish environment for raw material prices, will allow Haulotte Group to deliver a stable current operating income,” said the company.