Haulotte records -27% revenue drop for 2020
By Euan Youdale10 February 2021
Haulotte achieved revenue of €114.5 million ($138.9 million) in the last quarter of 2020, down -12% year-on-year, but up +13% over the previous quarter, driven mainly by Asia-Pacific.
For the full year, the France-based manufacturer posted consolidated revenue of €439.6 million ($533.2 million), compared with €610.8 million ($740.8 million)in 2019, down -27% between the two periods.
On the European market, where almost all countries experienced a significant decline, Haulotte’s cumulative sales was down -29%.
In Asia-Pacific, the market was more contrasted. China, which became the world’s leading market in 2020, continued to post very strong growth, while all other markets, like Europe, experienced a sharp decline, said Haulotte. Against this backdrop, the Group’s sales held up better in this region, declining by -14% over the year.
In North America, which was also badly affected by the health crisis, the trend observed in previous months was confirmed, with annual sales in the aerial work platforms business holding up well, falling by -16%. Overall, in this region, combining all activities, sales remained down -26%.
In Latin America, where the health and economic situation in the various markets remained particularly challenging, Haulotte recorded a -47% drop in sales.
In the end, equipment sales fell by -28% over the year. Rental activity, particularly in Argentina, which was heavily impacted by the health crisis and the country’s economic situation, was down -41% compared with 2019. Lastly, Services, which has just achieved its best quarter of the year, was down -16%.
Looking ahead, the company said that despite a still very uncertain environment, the improvement in sales activity noted in recent weeks and the expected return on investment from major rental companies should enable Haulotte to post sales growth of around +10% in 2021.