16.02.2016

Strong fourth quarter for Haulotte

Haulotte has issued its revenue numbers for the full year and fourth quarter, showing a 45 percent increase in the final three months of 2015.

Looking at the full year total revenues were €445.3 million, up eight percent on 2014, with improvement across all sectors. New machine sales were seven percent higher at €374.9 million, parts and services increased 11 percent to €45.1 million and rental revenues improved 10 percent to €25.3 million.

Some of the boost came from the North American market which experienced two of its best quarters on record, which were then boosted by the strong dollar. In local currency North American sales increased + 32 percent, meanwhile Asia Pacific closed 27 percent higher, while Europe ended the year 12 percent lower – due, says the company to “the wait-and-see attitude of major rental companies” South America continues to plummet with sales to the region falling 24 percent.

Moving on to the fourth quarter revenues jumped 45 percent to €134.5 million, comprising new equipment sales of €116.9 million, parts and service revenues of €11.3 million and rental of €6.3 million million. Haulotte said that given the revenues achieved it expects profitability to be close to that achieved in 2015, before allowing for any currency gains or losses.

On an even more positive note the company says that given the “buoyant commercial activity at the beginning of the year, mainly in Europe”, it expects to increase its revenues by five percent in 2016.

Vertikal Comment

Haulotte is a grand master at pulling strong fourth quarters out of the bag, and has really outshone itself this time round. At this stage we have little or no detail on the make-up of quarter, but it is likely that much of it came from strong shipments of its new products, particularly its new boom models and the significantly improved Star 10 mast boom that was unveiled in April.

After struggling to regain its momentum it looks like the French manufacturer is back on the growth trail. If it has as good a start to the year as it suggests, then there is a real chance that the company will approach the €500,000 mark – this year it has come within a Nat’s whisker of $500,000 in spite of a weak Euro. It still has some way to go though to break its all-time record of €652.7 million, achieved in 2007, but it is a more efficient and well structure business now, especially in North America where it appears to have finally created a stable business with a solid foundation.