North America Paces Haulotte's 8 Percent Revenue Hike in 2015
French aerial work platform manufacturer Haulotte posted £445.3 million in revenues (about U.S. $490.8 million) in 2015, compared to £412.6 million in 2014, an 8-percent increase. Haulotte recorded growth in all continents except Latin America and exceeded its 2007 number, its record year up until now. The North America market was the strongest growth area at 32 percent at constant exchange rates, followed closely by Asia Pacific, 27 percent.
Excluding currency exchange gains and losses, operating income increased 2 percent from £31.7 million in 2014 to £32.4 million in 2015, amounting to 7.3 percent of revenue. The hike is primarily the result of increased gross margin on aerial work platform sales, service and rental activities, with fixed cost growth controlled in line with business development and strategy.
Operating income was £34.4 million, down from £38 million in 2014, a 9-percent drop, impacted at the end of the period by negative currency fluctuations, especially the U.S. dollar.
Commercial activity seems to be strong at the beginning of 2016 as it was in the fourth quarter of 2015, particularly in Europe with strong return on investment among the major rental companies. Haulotte expects sales growth of close to 5 percent in 2016, as well as improvement in its current operating margin rate.
