Haulotte pushes upward in 2012
07 March 2013
The strong North American market helped push Haulotte’s sales up by 16% in 2012, although consolidated net income was still in negative territory
Net sales stood at €355.7 million by the end of 2012, compared to €306.9 million in 2011. North America saw a 27% increase in sales, while Latin America demonstrated its pace of growth with a 77% rise. Sales were also strong in the Asia Pacific region with 22% growth.
Earnings before interest, taxes, depreciation, and amortisation (EBITDA) saw a significant rise too, ending 2012 at €13.5 million, up from €2.8 million in 2011.
Consolidated net income was in negative territory, however, despite improving on the 2011 figure. For 2012 the figure stood at minus €7.5 million, compared to minus €9 in 2011. Operating income also improved on 2011 and stood at €0.8 million, up from minus €4.6 million in 2011.
“Current operating income rose sharply through the positive impact of additional volume on gross margin, a reduction in the impact of low industrial activity, continuing favourable evolution of sales prices, and a better margin on rental activities and service,” said a company spokesman.
Fixed costs, excluding impairment of trade receivables, increased by 4%, mainly reflecting commercial investments in areas with high potential development, added the spokesman. Net debt also fell to €102 million
“The positive orientation of emerging markets and the need for fleet renewal in European rental companies should allow Haulotte Group to grow by around 10% of sales in 2013 and continue to improve its operating margin,” concluded the spokesman.