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3 September 2014, 00:00
The global market for powered access platforms has continued the favorable trend observed during 2013, but is now driven by Europe and Asia Pacific. Against this market, Haulotte Group recorded 17.6% growth in revenue (+20.3% at constant exchange rates) achieving € 207.2 million against € 176.2 million in the first half of 2013. Half year growth was significant in Europe (+29%), North America (+26%) and Asia Pacific (+22%). Latin America confirmed the trend observed in the first quarter of the year (-31% in the period). Service activity continued the strong growth previously seen in 2013, due to increased activity from our rental clients.
Operating income (excluding gains and losses) is 7.5% of sales, and continues to grow due to the significant market upturn. The resulting increase in working capital was contained and predominantly explains, the € 25 million increase in net debt over the period.
Fixed costs remain under control, the 4.3% increase seen being due to focus on strategic development of the Group, mainly innovation and service activities.
Outlook and recent events
Driven by the rebound of the European market, (more a result of the ageing of AWP fleet, than any real improvement in the economic outlook), Haulotte Group expects an annual growth of activity of more than 15%. Haulotte Group acquired a 50% stake in its historical Turkish distributor during the second quarter of 2014.
Upcoming events
Third quarter sales: 15 October 2014
Source: Haulotte Group
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