19.10.2010

Haulotte jumps 30%

Haulotte has announced another quarter of positive growth, with revenues climbing 30 percent compared to the same period last year to €63.2 million and similar to that of the second quarter.

For the nine months to the end of September, total revenues were €177.6 million, an improvement of 20 percent on the same period in 2009.

Sales of new equipment increased by 25 percent to €131.3 million, while rental climbed 17 percent to €26.7 million and services fell back seven percent to €19.5 million.

Geographically sales grew in all regions, but posted particularly large gains in South America where revenues climbed 73 percent and in Asia-Pacific which was up 26 percent.

The company says that activity levels at the start of the fourth quarter are running at similar levels to the past two quarters allowing the company to maintain a modest order backlog.

The company does not publish any profit and loss information in its quarterly announcements.

Vertikal Comment

This is an excellent and encouraging result from Haulotte which appears to have quietly but solidly boosted sales of new equipment. The company does though make the point that with a small backlog the recovery is still fragile.

Still it is far better than reporting negative numbers and it looks as though the company will come in with full year revenues of around €245 million – over 20 percent up on 2009.

The additional revenues together with further cost cutting should put the business back into profit, it lost €60 million in 2009.