19.10.2005

Haulotte third quarter up 25%

Haulotte has announced that its sales for the first nine months to the end of September are up by 45 percent on 2004 and that the company is on target to achieve its forecast growth for 2005 of 40 to 45 percent. This equates to €400 to €415 million.

The company also says that it is on target to achieve net profits of at least €30 million.

The company’s order book at the end of September is up 60 percent on last year and sales trends continue at levels in line with earlier forecasts for 2006.

Sales breakdowns remain similar to last year with France representing 21 percent of sales, the rest of Europe 68 percent and the rest of the world, 11 percent.

The product mix is consistent with the first half, sales represent 83 percent of revenues, rental 11 percent - marginally up, service four percent and finance one percent.

Vertikal Comment

The results show a slow in growth compared to the first two quarters and require the fourth quarter to be the best of the year, with sales of at least €125 million.

The fourth quarter has in the past been remarkable, so this is perfectly achievable, and with a strong order book we would expect Haulotte to come close to the top of its forecast range, hitting revenues of around €415 million.

This will make it a half billion dollar company, taking it closer to JLG and Genie in terms of pure access sales and rental. (Telehandlers are still a very minor part of Haulotte’s revenues).