Aerial Manufacturer Haulotte Posts 10.3-Percent Revenue Hike in First Half
French aerial work platform manufacturer Haulotte reported first half revenues of €264.6 million (about U.S. $318.5 million) compared to €239.8 million for the same period last year, a 10.3-percent increase. Equipment sales totaled €225.5 million compared to €203.4 million a year ago, a 10.9-percent hike. Equipment rental revenue was €14.9 million compared to €12.7 million, a 17.3-percent leap. Service income growth was €24.2 million compared to €23.7 million a year ago, a modest 2.1-percent boost.
Sales in Europe increased 19 percent, with sustained growth in its main markets. The Asia-Pacific region leapt 7 percent, excluding foreign exchange. The level of activity in Latin America declined 3 percent, while North America tumbled 13 percent because of a significant decline in the Mexican market and a slowdown in U.S. scaffolding sales. Conversely, sales of access equipment increased in North America.
Assisted by a well-oriented global market, current operating income, excluding exchange gains and losses, grew 53 percent, and now stands at 8.6 percent of revenue. This result was largely because of a significant increase in volumes sold, improvement in the profitability of service and rental activities, and control of fixed costs, despite an increase in raw material prices during the period.
The group’s net debt continues to decrease, the company said, thanks to good profitability and good working capital.
Haulotte Group expects to post revenue growth of close to 10 percent in 2017, allowing it to return to a level of current operating income close to 7.5 percent.
Haulotte is headquartered in L’Horme, France, with North America headquarters in Virginia Beach, Va.
