14.04.2014

Haulotte up 16%

Haulotte has announced that its first quarter revenues increased 16 percent compared to 2013 to €89.3 million. New machine sales grew 15 percent, service 26 percent and its residual rental business six percent.

The strong improvement came from a 40 percent jump in North America, 30 percent in Asia Pacific and 17 percent in Europe. This was somewhat offset by an 18 percent fall in South America, due partly to high first quarter sales last year. – all numbers are at a constant exchange rate comparison.

Based on the solid start to the year Haulotte is confidently maintaining its earlier forecast of exceeding 10 percent growth for the full year.

Vertikal Comment

This looks like an excellent start to the year for Haulotte, and it is, the company achieved higher year on year revenues even if the UK Platforms business had been left in the 2013 numbers – although last year the company did get off to a slow start. The geographic increases owe a good deal to the fact that first quarter 2013 sales in North America were horrible, while Europe was not that much better.

The company does seem to be making strong inroads in Asia Pacific and finally looks as though it has got some decent momentum in the USA. Add to this signs that southern Europe may finally be more upbeat and there is a strong chance that the 10 percent growth forecast for 2014 will prove to be conservative.