Haulotte reports 19% fall in first quarter revenues
Sales affected due to the global impact of Covid-19 as all major regions decline
Powered access major Haulotte saw a 19% drop in revenues in the first quarter of this year compared to the same period in 2019, reporting a total of $144.6m, which is a return to its 2018 levels.
A statement from the company said the Q1 results this year are “already a reflection of the negative impacts of the Covid-19 pandemic”, with equipment sales falling 20% year-on-year in the quarter, rental activity down 22% and service activity down 8%. Haulotte had recorded a revenue of $177.6m in the same period last year, which was a record first quarter for the group.
Haulotte’s cumulative first quarter sales fell 23% in the European market, which was already in a slowdown observed in the second half of 2019 and has been further impacted by the Covid-19 crisis. The biggest negative impact was from southern Europe, the zone most affected by the pandemic.
Haulotte added that in the Asia-Pacific region, where all markets are in sharp decline, the group reported a 13% drop in sales for the quarter compared to the same period in 2019. The decline in North American sales, meanwhile, was only 2% in the first quarter, with activity in the aerial work platform segment even showing growth of +10%.
Haulotte said the majority of Latin American markets continued to fall, with the exception of Brazil, which is still on the rise. The group’s sales in the region as a whole decreased by 25% year-on-year for the quarter.
Coming to the future outlook, the Haulotte statement said: “Given the uncertainties regarding the duration and extent of the health crisis related to Covid-19, Haulotte has decided to suspend, at this stage, its financial guidance for the year 2020 and will communicate new elements as soon as conditions allow. The Group has already taken all the necessary measures to best manage the first consequences of this unprecedented crisis and enable Haulotte to calmly address its next steps.”
