Haulotte sales grow as pressures persist
By Euan Youdale19 October 2022
Haulotte has reported positive revenues in the third quarter of its financial year.
The French MEWP manufacturer said the results had come in an environment of persistent supply chain difficulties for some components that affected deliveries and combined with the pressures of rising inflation and the energy crisis in Europe.
In the third quarter of 2022, Haulotte recorded consolidated revenues of €140 million, up 17% compared to the same period last year. For the nine months up until the end of September, consolidated sales stood at €429.1 million, compared to €355.3 million last year, an increase of 16% between the two periods.
In Europe, the Group recorded sales growth of 10% for the first nine months of the year, despite the invasion of Ukraine and its consequences for its activities on the Russian market, it said.
In Asia-Pacific, Haulotte achieved its best performance of the year in the third quarter, with cumulative sales up 43%, mainly driven by Australia.
In North America, Haulotte recorded a 9% increase in sales. Growth in this zone is still driven by the scaffolding business, said the company, with a 27% increase, while sales of MEWPs were a slight increase of 2%, despite a record logbook. In Latin America, the Group’s sales increased by 21%, driven by the market in Brazil.
At the end of September 2022, equipment sales were up 16%, rental activity was up 18% and service activities were up 12%.
In the context of continual supply difficulties, driven by an historically high order book that is still increasing, Haulotte forecasts a total sales growth close to 20% for the full 2022 year.
Nevertheless, the challenges in the market still make it difficult for the company to make full predictions for the year. “Given the many uncertainties that remain, reinforced by the energy crisis that is getting more significant since the summer, Haulotte Group is still not in a position to confirm, at this stage, its current operating margin objectives for 2022, but does not expect a significant improvement in the second semester versus the first semester.”