13.03.2026

Haulotte posts a loss

Haulotte has published its full year financial results for 2025, confirming an 18 percent fall in revenues to €511 million, with Eutrope being the only region posting any growth. Like many French companies Haulotte issues a full revenue report a month before the financial report See: Another slow year for Haulotte

The company posted a pre-tax loss for the year of €21.5 million compared to a profit for the same period last year of €19.1 million. This in spite of some steep reductions in sales and administration costs as well as lower finance costs, partially offset by higher exchange losses. During the year, Haulotte also managed to reduce its net debt by €17 million to €183 million, thanks to strong cash flow in the second half and a reduction in inventories. It also negotiated a new €130 million syndicated loan agreement with its banking partners, the terms of which are identical to the previous facility.

Outlook for 2026
In spite of the uncertain global economic environment, Haulotte expects to return to sales growth in 2026, largely on the back of a return to some sort of normality in the North American market.

Vertikal Comment
As we have already said, these top line numbers are not great, but looking now at the financial detail, it could have been a good deal worse if the company had not taken some solid steps to adapt to the current environment. It seems to have managed that without sacrificing the future. R&D spending was slightly higher, and it is maintaining much of its brand building marketing activities. The challenge for Haulotte now will be to avoid a death spiral as it tries to cut its way out of a downturn.