13.02.2018

Haulotte up 11%

Haulotte has released its full year sales numbers for 2017, with total revenues rising 11 percent to €510 million.

Sales of new equipment totalled €431.9 up 13 percent on the previous year, the improvements were led by Europe where sales increased 19 percent, as a number of markets where Haulotte has a strong market share, began to recover.

In terms of percentage growth for aerial lift sales North America performed best coming in 21 percent higher, however all of the gain was offset by a 25 percent drop in scaffold sales, bringing the business with similar revenues to last year. Sales in Asia Pacific were 7.5 percent higher thanks to a strong fourth quarter in the Middle East and Asia.

South America ended the year six percent higher, in spite of a slump in Mexican revenues. Rental revenues were 10 percent higher at €28.6 million, while parts and service revenues were increased just one percent to €49.5 million.

Revenue growth gathered pace in the fourth quarter with sales jumping 22 percent to €139.3 million. Although it must be said that this compares with a weak fourth quarter in 2016 when sales plummeted 15 percent after a strong start to the year.

The company expects to see 2018 revenue growth of around 10 percent, which would take total revenues to somewhere in the region of €560 million. The full results for 2017 will be published in mid March.

Vertikal Comment

This is a positive set of numbers from Haulotte, which would have looked even better had it not been for the sharp fall in sales of Bil-Jax scaffold. Whether that is due to the overall market or a shift in focus from Haulotte we do not know.

The company’s wholly owned distribution network still has some key operations where it lacks a solid and consistent marketing strategy and employee base, and this tends to show up in sales and market share fluctuations. If it can sort these out at the same time that some of its stronghold markets are gaining traction, it could easily outpace its 10 percent forecast for this year.

That said the company is gaining some momentum and can look towards a few good years ahead.