Haulotte Group generated consolidated sales of €114.4 million in the fourth quarter of 2016, compared to €134.5 million the previous year, down 15%; but fourth quarter sales were up 10% compared to the third quarter.
Full year consolidated sales were €457.8 million, compared to €445.3 million in 2015, an increase of 3% across the year, 4% at constant exchange rates.
The Europe zone, which accounts for more than half of the group's sales, is the only zone to show sales growth in 2016 at 20% of turnover, excluding impact of exchange rates. This was driven by the return to investment from rental companies in the vast majority of Europe’s markets.
In the last quarter, the North American market confirmed signs of steady decline throughout the year, reflected by a 20% fall in sales, at constant exchange rates.
Asia Pacific failed to offset the slowdown in the Middle East, impacted by the geopolitical situation and oil price pressures, falling by 2%.
Lastly, despite an encouraging last quarter, Latin America remains highly disrupted by the economic and political situation in its main markets and showed a drop in annual sales of 8%.
On a year-on-year basis, all of the group's activities delivered growth; moderate in equipment sales and rental activity, up 3% and 2% respectively, with stronger growth in the company’s service segment at 11% - reaching a record high level.
“This level of activity as well as an increased competitive environment will not enable Haulotte Group to achieve its objective of improving the current operating margin rate for 2016,” added a company spokesperson.