Haulotte shows improvement after difficult first quarter

03 September 2013

Haulotte

Haulotte

Haulotte Group reported a 1.5% increase in revenues to €187.2 million for the first half of 2013 and operating profits were €17.7 million. The profit included one-off gains of €10.6 million largely comprising an €8.5 million profit on the sale of the UK Platforms rental business in the UK in late June. Net profits were €11.9 million.

The company managed to claw back some of the revenues falls it reported after the first quarter, when North American sales were down year on year by 22% and in Europe by 12%. The first six months saw revenues in North America reduce by 10% year on year and in Europe by 6-7%. It said the ‘wait and see’ attitude of its European customers persisted in the second quarter of the year.

The company’s results were buoyed, however, by record figures from both Asia Pacific and South America, with sales in Asia Pacific up 10% to around €20 million and by a massive 62% in South America to €30 million.

The company is forecasting sales growth of between 5% and 10% for the full year, although said it still had limited visibility “due to persistent macro-economic uncertainties.”

Alexandre Saubot, Haulotte’s CEO, told IRN that he was a lot happier with the half year results than he was after the second quarter, when sales were down 5% year on year. He said there was still work to be done in North America, despite the recovery of some of the shortfall reported in April.

The sale of UK Platforms was too late in the period to have a significant impact on the company’s rental revenues, which were down 3.6% to €21.3 million compared to the same period in 2012.

Haulotte said; “the global market for powered access platforms continues to be boosted by growth in North and South American markets during the first half of 2013.

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