28.09.2005

Haulotte predict 40% growth for 2006

The newly titled Haulotte group has confirmed its first half sales revenues, marginally better than its preliminary estimate at €188.7 million. The increase on 2004 is 56 percent, marginally lower than broadcast in July, due to a restatement of the 2004 result to reflect new IFRS accounting standards.

Operating income jumped by 210 percent to €28.5 million or 15 percent, while Net earnings (after tax) came in at €18.5 million or almost 10 percent of revenues.

Haulotte is forecasting net profits of €30 million for the full year 2005 and anticipates a 35 to 40% increase in revenues for 2006.The order book as of June was 65 percent up on last year and, according to the company, continues to grow.

In the announcement Haulotte puts the strong profitability improvement down to Strong cost controls and constant drive for higher productivity, combined with “Relative calm in the evolution of raw materials prices”

The rental business

The rental business while not detailed in this latest announcement, was reported as flat during the period,
The results would have been affected though by the sale of Ireland Access to Loxam and the acquisition of Royans Levage.

Royans Levage is a rental company based in Grenoble and Valence, with around 330 aerial lifts. Royans was purchased in January but no announcement was posted at the time..

Strategy and outlook

The group is predicting net earnings for the full year 2005 of over €30 million. It is also looking for a 35% to 40% rise in net sales for fiscal year 2006, based on current trends and order inputs.

Part of the revenue growth will come from new products and part from new outlets, with company stores planned for Russia, China, Mexico and Poland within the next 12 months.