15.04.2013

Haulotte revenues drop 5%

Haulotte has reported first quarter revenues of €84.5 million five percent lower than for the same period last year.

The falls were across the board with new equipment sales down five percent, while service and parts sales dropped four percent and rental fell seven percent, some of which may be exchange rate related given the level of sterling during the first two

The falls were largest in North America which is down 23 percent, while Europe declined 11 percent. South American sales jumped 42 percent, while revenues in Asia Pacific were up 15 percent.

Vertikal Comment

This is a bit of a shock, particularly the fall in North America where Haulotte had appeared to have been making strong progress. The company has a press conference tomorrow at which we will be able to obtain further details.