Haulotte Group posts mixed results in slowing economy
Revenues see fall in last quarter of 2019 while full year results go up by 8%
Powered access heavyweight Haulotte Group has reported a decline of 9% in revenues for the last quarter of 2019 compared to the year before but has said the full year outlook for last year is expected to be better than 2018.
A statement from the French manufacturer of mobile elevating work platforms (MEWP) and telehandlers said its revenues for Q4, 2019 were approximately $144 million. While Haulotte saw declines in most global regions, the quarter’s sales were mainly sustained by North America and Asia, where the Group delivered excellent sales performance.
Meanwhile, the global aerial work platform market was stable in volume terms over 2019, said Haulotte, against which the company posted consolidated revenues of $661.6 million, compared to $604.4 million in 2018, representing a growth of 8% between the two periods.
The European market confirmed its slowdown after peaking in the first half of 2019, by ending the year below 2018 levels, said Haulotte. Despite this, the company increased sales by 5%, delivering growth in the majority of the European territories.
In Asia-Pacific, which was the only strong growth market in 2019, the Group’s sales grew by 15%, driven mainly by activity in China and Australia.
In North America, Haulotte confirmed the growth of sales posted in previous quarters, especially via scaffolding activity, ending the year 2019 at 16%.
Except for the Brazilian market, which rebounded sharply, all other Latin American markets showed significant declines in 2019. Despite this uncertain environment, Haulotte said it delivered stable sales in the area.
“Equipment sales finally increased by 8% over the year. Rental activity continued to build on the momentum of the previous quarters and posted growth of 23%. Finally, the Services business, which had an excellent fourth quarter, posted growth of 7%,” said Haulotte in the statement.
Commenting on the outlook for the year 2019, Haulotte confirmed that it will not be able to meet its current operating income growth target of close to +10% (excluding foreign exchange gains and losses) for 2019 and should end up close to its 2018 level.
“Against a backdrop of declining European and North American markets, and facing the macroeconomic uncertainties affecting the global economy, Haulotte expects to post a decline in sales of close to -10% in 2020,” the statement concluded.
