Haulotte up 16% in 2012 despite weak Europe

Haulotte reported a “relatively strong” final quarter of the year with 15% growth in revenues to €82.2 million, taking its full year revenues to €355.7 million, an increase of 16% over 2011.

The French manufacturer is forecasting an increase of 10% this year, driven by the need for fleet renewal in Europe and a continued positive situation in developing markets.

Full year sales in 2012 were strongest in Latin America, up 77%, followed by North America (+27%), Asia Pacific (+21%) and then Europe, which rose by just 5% and remained weak in the final quarter.

The company’s growth is coming mainly from new equipment sales, which rose by 19% to €277.3 million. Rental revenues were up 8% at €45.9 million, while after sales service revenues increased 5% to €32.5 million.

Haulotte said business levels in the second half of 2012 allowed it to return to operating break even for the whole year.

It its results statement Haulotte said; “Despite the European economic environment remaining difficult, the need for fleet renewal in Europe and the positive orientation of the emerging markets in which we operate support the business outlook for this year and should allow Haulotte Group to show growth of around 10% of sales in 2013.”