Haulotte first quarter sales up 24%

Haulotte Group's first quarter sales grew by 24% to €89 million, with equipment sales up 28.4% and service and rental revenues increasing by 2% and 14.1%, respectively.

It is the best quarterly increase in sales since the third quarter of 2008, said Alexandre Saubot, Haulotte's CEO.

The company's fastest growing revenues were in Latin America - up 73% - and North America, which rose by 40%. Sales in Asia were up by 26%. In Europe - still Haulotte's most important region - sales grew by 15%, fuelled by growth in Northern Europe.

European sales were €58.2 million, North America increased to €13.0 million, South America to €8.9 million and Asia pacific sales were also €8.9 million.

Haulotte is forecasting double digit growth for the year as a whole but said that some "key players have so far not confirmed their level of orders for the current year".

"Overall we are pretty confident of achieving double digit growth this year", said Mr Saubot. he said lack of visibility on the spending plans of large European rental companies made it difficult to make definite predictions on full-year growth.

Haulotte said it was focused on the profitable growth of its sales and a reorganisation of its industrial activities in Europe, including the clouse of its boom and telehandler facility in Santander, France. Production of these products is being switched to other facilities in Europe.