Haulotte reports further gains

17 March 2008

France's Haulotte has reported 2007 first-half financial results to be up overall from the same period as last year. Net sales increased 30.9% from this time last year, with € 310.2 million ($432 million). The Group achieved further improvements in margins as market trends remained positive while continuing to add new production capacity and strengthening its sales network. The company reports an operating margin of 19% and a net margin of 12% in the 2007 first half versus 17% and 11.3%, respectively in the equivalent prior-year period. These gains result from strong sales and foreign exchange trends in large part offsetting the impact of higher fixed costs associated with Group's development and organizational measures. With commercial performances of the summer up by more than 50%, management confirms guidance issued in July for full-year sales growth approaching 25% and a net margin close to 12%.

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