Haulotte sees 12% growth in H1 revenues for 2021
Powered access major posts positive results on recovering global AWP market, despite constraints in sourcing components
Powered access equipment heavyweight Haulotte has reported a 12% rise in revenue in the first half of this year compared with the same period in 2020, with total sales for the six months settling at $285.15m.
A statement from Haulotte said that the improvement comes despite global constraints and difficulties in sourcing of components, even as the aerial work platform market is recovering strongly in most regions around the world.
The company’s sales In Europe accelerated sharply in the second quarter, enabling it to post a growth of 9% for the half year compared to the previous year. In Asia-Pacific, half-year sales were down by -18% compared to the first half of 2020. In the strongly growing North American market, the group’s half-year sales were up 39% across all its activities, with sales of aerial work platforms up 48% over the period. In Latin America, despite a still uncertain environment, the Group’s business grew by 57% compared with the first half of 2020, driven by almost all markets.
In the first half of the year, equipment sales grew by 9% over the period, rental activity by 29% and finally service activity, which exceeded its 2019 level, has posted a growth of 32%. Current operating income, excluding exchange gains and losses, have reached $13.36m, or +4.7% of sales, compared with +2.3% in the first half of the previous year. It was driven in particular by growth in all the Group’s activities and good control of fixed costs, while the impact of an increase in component prices was not yet significant in the first half, said Haulotte.
Operating income amounted to $8.67m, or 3.0% of revenues, compared with $3.63m in the previous year. The Group’s net income stood at $5.15m, or +1.8% of revenues, positively impacted in its financial result by the exchange gains.
Advising on its outlook for the future, Haulotte said that driven by sustained sales momentum in the vast majority of markets, it currently has a historic backlog that confirms its strategic orientations. “Penalised by supply difficulties and strong growth in component prices, the impact of which will really be felt in the second half of the year, the Group confirms its forecast of sales growth by more than 15% compared to 2020 and an objective of a current operating margin (excluding foreign exchange gains and losses) between 3% and 4% of sales,” said Haulotte in its statement.
