14.10.2020

Third quarter improvement at Haulotte

Haulotte has reported lightly better third quarter revenues compared to that seen in the second quarter but is still trading well below that achieved in 2019.

Nine month sales to the end of September were €325.1 million, 32 percent below that achieved in the same period last year. Third quarter revenues however were only 23 percent lower at €102.4 million.

Year to date new equipment sales fell 33 percent to $283.2 million, while parts and services declined 17 percent to $32.6 million, and rental dropped 43 percent to $9.3 million due to the pandemic impact in South America.

Geographically, European sales declined 34 percent, Asia-Pacific overall was similar, but a strong performance in China provided some offset leading to a 20 percent reduction. Overall North America sales dropped 25 percent, but aerial lift sales fared better coming in just 12 percent below last year’s levels. Sales in South America were declined 51 percent year to date.

Looking forward Haulotte is forecasting the full year results to come in at 25 to 30 percent lower than last year but anticipates a positive operating income.

Vertikal Comment

While still dire compared to what we might normally expect, the third quarter numbers from Haulotte are encouraging suggesting that some normality is returning. Although the latest surge in Covid-19 outbreaks might just curb this positive trend, even given how well it traditionally does in the fourth quarter. This year though it way too volatile to predict anything.