16.02.2022

13% growth for Haulotte

Haulotte has published its full year sales numbers for 2021, which show overall revenues increased by 13 percent to €495.8 million.

This was made up of new equipment sales of €423.3 million - an increase of 11 percent on 2020 - while parts and services revenue grew 22 percent to €55.6 million. Finally rental revenues improved 35 percent to €16.9 million.

Geographically equipment sales grew by 13 percent in Europe - spread across most markets in which Haulotte operates. North America sales jumped 43 percent, with aerial work platform sales growing a remarkable 52 percent compared to 2020. In South America sales increased 48 percent, driven mainly by Brazil. Finally, the Asia-Pacific region posted a 16 percent fall in sales compared to a strong 2020, while most of the rental growth came from a rebound in Argentina and scaffolding.

Fourth quarter revenues were 21 percent up on the same quarter in 2020, which would take them to roughly €138 million, driven mainly by higher sales in Europe and North America.
Haulotte says that it entered 2022 with a record order book/backlog and that the year has started strongly, and that in spite of 'the persistent tensions concerning the procurement of certain components', it expects revenues to grow by more than 20 percent in 2022.

Vertikal Comment

Overall this is a very positive result from Haulotte with an increasingly upward trend as it moves through 2022.
While sales have increased over most of its markets, powered access sales in the Americas are really gaining traction with plenty to go after.
However overall the company is still well behind where it was in 2019, when it achieved sales of €610 million. Having said that the company has some great new products and if it can increase production in the face of the current supply chain issues, it will do well. It now looks as though revenues will be back at 2019 levels this year, which is not a bad achievement given all the challenges that we have faced.

Watch out for the full results in mid-March.