Powered access major posts record revenues with 18% rise in both sales and operating income
Powered access major Haulotte has reported a year-on-year rise of 18% in both sales and current operating income for the first half of this year, posting its highest half-yearly revenues ever at $377.75m.
The French MEWP and telehandler heavyweight said the positive results were achieved despite the global access sector market showing signs of slowing down in the first half of 2019 after several years of strong growth. A statement from the company said the North American market, in particular, declined over the period while Europe remained stable overall compared to the previous year.
Current operating income, excluding exchange gains and losses, from continuing operations increased by 18% to $26.2m, driven by volume growth, a significant improvement in the machine mix and higher sales prices, partially offset by higher component costs and fixed cost increases generated by the deployment of the group’s strategic plan, said Haulotte. Operating income rose by 4% and net income by 32% over the period, to 5.1% of sales.
Haulotte said that in line with its previous half-year results, the EMEA region continued to post sustained sales growth of plus 20% in the majority of its markets. The company also saw increased sales in the Asia-Pacific region with a 21% growth over the period, driven by very good sales performances in China and Australia.
In Latin America, Haulotte’s business declined by 2% compared to 2018, with only Brazil posting growth. North America, meanwhile, saw sales increase by 16%.
Despite the market slowdown in 2019, Haulotte confirmed its annual objectives for the year is to raise its sales and current operating income by around 10%.