18.04.2017

16% rise for Haulotte

Haulotte has reported first quarter sales up 16 percent on the same period last year coming in a €133.3 million.

The increase was driven by a 33 percent rise in European sales, with solid improvements across all markets. The Asia Pacific region came in two percent higher, thanks to a strong performance in Southeast Asia and Oceania offset by slower sales in the Middle East. South America continues to languish at last year’s low levels, but at least appear to have stabilised. Sales in North America were 20 percent lower than in 2016.

Equipment sales increased 15 percent, services were 10 percent higher, while rental activities rose 21 percent. Based on the first quarter results Haulotte has confirmed its previous forecasts of five percent growth for the full year.

Vertikal Comment

This is an excellent result from Haulotte, although the North American results are a little worrying, however we would expect some recovery in the second quarter as rental company revenues pick up.

The full year forecast of five percent growth is beginning to look a little timid at this point, although given the amount of political uncertainty around at the moment it is probably a wise move to leave it for now.