Haulotte growth defies industry upheavals
By Euan Youdale19 April 2022
Haulotte’s first quarter results reflect sustained growth across the global aerial platform sector in all geographical areas, says the company, despite persistent supply difficulties and the initial effects of the war in Ukraine, meaning it is not yet able to confirm full year targets.
The favourable conditions have helped Haulotte record a sales increase of 25% in the first quarter of 2022, which ended 31 March, amounting to €135.8 million, compared to the same period in 2021.
In Europe, sales increased by 21% in the first quarter, compared to the same period last year.
Asia-Pacific saw a 43% increase in sales for the quarter, driven in particular by its business in Australia, said the company.
In North America, the company posted growth of 19% in the first quarter, led by a clear rebound in the scaffolding business, which grew by 47% during the three months.
And in Latin America sales growth of 45% was achieved, compared to the same period last year, thanks to orders from Brazil.
All of the group’s business segments showed an increase too. Equipment sales were up by 26% in the quarter, while rental activity was up by 31% and service activity was up by 19%.
Growth and uncertainty
“Despite a very complicated environment linked to the persistent shortage of certain components, the Ukrainian crisis and the rebound of the Covid-19 epidemic in China, the commercial dynamic observed over the last few months shows no sign of slowing down for the moment,” said the company in its financial statement. This meant the group’s order backlog is still up on its previous results for last year.
Nevertheless, the effects of the Ukrainian conflict means that uncertainty remains in the marketplace. “The cost of components, energy and transport, and the responses to be made, are currently being assessed,” said the company. “Given the uncertainties linked to the impact and duration of the conflict, the group is not in a position to confirm, at this stage, its current operating margin targets for 2022.”