30.04.2025

Another slow start for Haulotte

French aerial lift manufacturer Haulotte has reported a slower first quarter compared to the same periods in 2023 and 2024.

Total revenues declined 17 percent to €131 million.
New Equipment sales fell by a similar amount as last year, down 21 percent to €105 million.
Rental revenues also picked up slightly rising 19 percent to €6 million.
Parts & Service revenues, were relatively buoyant increasing nine percent to €20 million.

Geographically

In Europe, the company says that rental buyers remained cautious in spite of the easing of interest rates, causing a six percent decline in sales.
In Asia-Pacific, Haulotte's sales dropped 41 percent due to a slow start.
In North America, the downward trend in sales continued, causing revenues to drop 27 percent across all product lines.
In South America, a brighter sign with sales increasing by two percent on last year .

The company said: "In the current market environment with limited visibility across all markets, the group is still unable to commit to a sales and current operating margin level for 2025 but will do as soon as conditions permit. During this period, Haulotte will continue to leverage its innovation capabilities and close customer relationship while maintaining its focus on stock optimisation and controlling operational expenses.”

Vertikal Comment

No matter how you look at it this is not good news from Haulotte, it is a little hard to understand. It has good products and a good spread of manufacturing locations, and while the market is not at its strongest, and competition is tougher than ever, opportunities remain and we would have hoped to see better news from France’s leading aerial lift manufacturer, especially as this year’s numbers are being compared with a poor first quarter 2023.

The financial details for the quarter are usually released in May, and is worth noting that while full year revenues for 2024 declined by 17 percent last year, profitability improved significantly, at least at the operating level.

Hopefully the half year numbers, which are resleased in September, will be better.