Haulotte Grows Revenue by Almost 16 Percent in First Half of 2016

Haulotte Group posted €239.8 million (about U.S. $270 million) in revenue in the first half of 2016 compared to €207 million in the first half of 2015, a 15.8-percent hike. Excluding currency effects, a strong performance in Europe, with a 30-percent year-over-year increase, driven by the recovery in investment expenditure of rental companies, and North America (a 9-percent jump), offset a mixed picture in Asia Pacific, which dropped by 1 percent, and Latin America, which declined 6 percent.

The group’s other activities grew during the first half of the year, with a 9-percent increase in Services and 2 percent in Rental.

Current operating income, excluding exchange gains and losses, increased 39 percent, 6.2-percent of sales, primarily because of increase in volume, notably in Europe, despite an increasingly competitive market.

Operating income and net income declined by 19 percent and 42 percent, respectively, primarily because of less favorable foreign exchange rates compared to 2015. Haulotte’s net debt continued to decrease because of good profitability and good working capital control.

Haulotte Group confirms its expectation of growth in revenue of approximately 5 percent in 2016.