Global sales growth increases 23% for Haulotte in 2011

Haulotte has announced a 23% increase in revenue for 2011 with growth in all geographic areas.

Final quarter sales in 2011 were 13% higher than those in the same period in 2010 (€72.5 million to €82.2 million). Sales were up 17% in the second half of the year and up 23% for the whole year (€250million to €307million).

Haulotte said that business remained relatively strong at the end of the year, despite uncertainties in the macroeconomic environment. All sectors were up reflecting the strong momentum from the rental business.

"Sales grew in all geographic areas between 2010 and 2011. Latin America experienced growth of 77%, and Asia 48%. Europe, which accounts for two thirds of sales, increased by 19%. In the US activity grew by only 5% in a market where the key players have reinvested significantly in 2011.

"The activity level over the second half of 2011 should allow the Haulotte Group to be above operating breakeven point over this period."

Positive signs of growth in emerging markets and the need for fleet renewal in Europe lead Haulotte to predict double digit growth in 2012.

Haulotte Group said it has reached agreement with its bankers to extend the holiday period of certain covenants until June 30, 2012 and, in early next spring, will open discussions with its banking partners to renew the credit facility that expires in July 2013.