Growth for Haulotte in 2013

Haulotte Group saw a return to growth during the 2013 financial year driven mainly by the North and South American markets.

The company's revenue grew by 3% in 2013, compared to 2012, (5.5% excluding the impact of exchange rates). In their own right, Latin America was up 26% and Asia-Pacific was up 9%.

Excluding foreign exchange gains and losses, operating income from continuing operations stood at 5.2% of revenue against 3.3% in fiscal 2012. This increase was mainly due to the impact of additional volumes on the gross margin, improved performance by the industrial division, and the management of fixed costs, said the company.

In monetary terms, operating income from continuing operations increased significantly to €11 million, despite exchange gain and losses recorded at €4.8 million, and impairment charges in North America of €3.7 million.

Earnings before interest, taxes, depreciation, and amortization rose the most by 320% to €25.2 million.

The company saw a rise in discontinued operations profit of €8 million, up from €0.8 million in 2012, mainly resulting from the €8.6 million gain on sale of its UK rental business in June 2013.

Net financial debt more than halved during the year to €41.6 million, compared to €102.2 million at the end of 2012.

“The start of 2014 is pointing towards a significant recovery of the business, particularly in Europe; resulting in a significant increase in order books during the first months of the year,” said a company spokesperson.

“The growth of the global market is expected to be the same in 2014 as it was in 2013. This should allow Haulotte Group to show more than 10% revenue growth in 2014 and an improvement in EBIT.”