13.02.2024

Record year for Haulotte

French aerial lift manufacturer Haulotte has posted its revenues for 2023, along with its prognosis for 2024.

Full year
The company achieved record revenues in 2023, driven largely by sales of new equipment, particularly during the first half, thanks to higher unit volumes and higher prices.

The numbers were:
New equipment sales €672 million +28%
Rental €24 million +11%
Parts & services €71 million +11%
Total €767 million +26%

Geographic breakdown
Europe, the market declined slightly over the year and yet Haulotte saw revenues improve 14 percent, in spite of the “increasingly intense competition”
Asia-Pacific sales increased 18 percent, driven by Turkey and Australia.
North America, the company continues to make progress, with a 75 percent jump in sales, with sales of powered growing by 110 percent.
South & Central America sales improved 26 percent with Brazil continuing to lead the charge.

Fourth Quarter
Haulotte saw revenues in the fourth quarter improve 13 percent to €199 million, slightly higher than the full year quarterly average. The company has not yet provided a breakdown of its fourth quarter revenues but does say that the strong performance was driven by its strong backlog/order book and an ongoing improvement in component supplies.

Margin
Haulotte will not post its full results until March but says that thanks to a good level of activity at the end of the year it anticipates an operating margin in the region of four percent of sales for 2023.

2024
As to its outlook for 2024 the company said: “In a market that is expected to consolidate, as observed in the second half of 2023, we expect stable sales levels for 2024.”

Vertikal Comment

It is encouraging to see such a strong finish to the year for Haulotte, although the fourth quarter has historically been a strong on for the company. The company is one of the protagonists triggering the EU anti-dumping investigation, but it is hard to see that it has been too badly affected, although operating margins remain relatively low, in spite of record sales and price increases.