Positive 2018 for Haulotte
By Euan Youdale12 February 2019
Haulotte Group achieved its best fourth quarter since 2007 in its 2018 financial year. Consolidated sales of €142 million, compared with €136.5 million in the previous year; up 6% over the period and 12% compared with the previous quarter.
In 2018 as a whole Haulotte’s revenue was €555.9 million, compared with €499.4 million in 2017, representing real growth of 14% between the two periods, said the company.
Growth remains mainly driven by the Europe region, up 18%, where major rental companies are still very active. The Asia-Pacific region ended the year with revenue growth of 8%, driven by higher sales in China and Australia, despite a slowdown observed in the Middle East. In North America, consolidated revenue increased by 6%, with good platform sales growth throughout the year, at 13%.
The recovery observed in 2017 in all Latin American markets, except Argentina, continued into 2018, enabling the group to post 12% growth in this region.
Equipment sales and services increased by 16% and 5% respectively. Rental activity was down 7%, impacted by the situation in Argentina.
However, the company said business growth in 2018 was insufficient to allow the group to maintaining its current operating income. “Unfavourable effects of customer and geographic mix, plus the increase in raw material prices and fixed costs generated by the implementation of the new strategic plan, were not offset by the good performance of volumes,” said the company in its financial statement. “However, an improvement in the equipment mix and a more favourable sales price environment are expected in 2019.”
The current level of orders is at its highest level since 2007, as a result the group expects to post sales growth of around 10% in 2019.