manufacturer Haulotte Group posted consolidated sales of €114.4 million in the fourth quarter of 2016 compared to €134.5 million, the previous year, a 14.9-percent slide. Fourth quarter sales, however, rose 10 percent compared to the third quarter.
Full year sales increased 2.8 percent from €445.3 million in 2015 to €457.8 million (4 percent at constant exchange rates.)
North America sales dropped 20 percent year over year in the fourth quarter.
Europe, the only region to show growth for Haulotte and which accounts for more than half of Haulotte’s sales, jumped 20 percent, driven primarily by a return to investment in fleet by rental companies in the majority of Europe’s markets.
Asia Pacific could not offset the Middle East slowdown, Haulotte said, which was impacted by the geopolitical situation and oil price pressures. Latin America sales declined 8 percent with challenging economic and political issues in the region.
Year over year, all Haulotte activities contributed to growth, with moderate gains in equipment sales (up 3 percent) and rental activity (up 2 percent). Service revenue grew 11 percent and reached its highest historical level.
Haulotte expects to grow more than 5 percent in 2017, driven by strength in Europe.