22.10.2004

Haulotte revenues jump 51 percent

Pinguely Haulotte has released its revenue numbers for the third quarter of 2004, they show an significant improvement over 2003, with year to date sales up 26 percent to €200 million, while sales for the period July to the end of September rose by an astonishing 51 percent to €74 million.

Like for like revenues, in other words the manufacturing business, for the nine months rose by a more modest 13 percent to €180 million, still indicating a strong pickup in the market for new and used aerial lifts and telehandlers.

Alexander Saubot confirmed that the group is on target to achieve its projected €280 million of sales for the full year with a five percent net profit.

Vertikal Comment

Haulotte continues to expand its business and has managed to pull its profitability percentages back up in the face of increasing raw material costs without following the lead of JLG by increasing its sales prices.

The 51 percent increase in third quarter revenues is remarkable in that the quarter includes July and August, vacation months in Europe that include a three week production shutdown at Haulottes main plants. However this year the business includes a growing rental business, which is often busy during these summer months when factories look to carry out major works while shut down for the vacations.

Haulotte are now looking to do €80 million in the fourth quarter, given that in past years it has managed incredible numbers in the fourth quarter, the company should easily pass its €280 target, the question is will it aim for €300 million or settle in around €290 million?.