Haulotte revenues up 30 percent over 2010

Haulotte Group has reported a 30 percent increase in revenues for its 2011 first-half financial results compared to 2010, due largely to US and Asia-Pacific markets.

Total revenues were €148 million ($213 million), up 30 percent, which included increased machine sales of 33 percent to €112.4 million ($162.2 million) compared to the same period in 2010. Haulotte attributed this spike to the US market, which has seen fleet replacement and slight growth this year. The company also said the Asia-Pacific market saw signs of growth and that Europe is still a “buoyant market” for Haulotte.

Parts and services saw incomes of €15.6 million ($22.5 million) which was 21 percent higher than last year and the company said rental grew 18 percent to €20 million ($28.8 million). “Rental business is also increasing due to improvement of our equipment’s’ fleet utilization rates,” Haulotte said in a statement.

Overall, however, Haulotte saw a net loss of €14.7 million ($21.21 million) compared to a net loss in the same period last year of €16 million ($23.09 million) due to overhead costs. The company did report that increases in volumes and decreases in inventories have chauffeured a “significant rise of the production level.”

The company is cautiously optimistic for the remainder of 2011, noting that if the financial markets and global growth remain steady, then Haulotte will remain its growth rate.

“Our priority for the second half remains to pursue margins, to increase our production plans and to optimize our working capital,” the company said in a statement.