30.07.2004

Haulotte up 16 percent in first half

Pinguely-Haulotte has achieved sales revenues of €127 million for the first half of 2004 an increase of 16 percent compared to 2003. Sales in the second quarter of the period were €74.2 million up seven percent on the same quarter last year.

Stripping out the LEV acquisition which has been included in the results since the start of this financial year on January first and UK platforms which has been included in the second quarter results (from the end of March), and like for like revenues were €114,3 million which represents a seven percent increase on 2003.

Alexandre Saubot told Vertikal.net that the actual like for like increase is greater than this, due to intercompany sales between Haulotte, LEV and UK platforms being eliminated in the consolidated account now that they are part of the group, whereas last year sales to these two companies would have been fully included in the revenues.

Order intake for the six months rose by 20 percent compared with 2003 “reflecting the signs of recovery within our markets which have been confirmed in the second quarter” according to Saubot.

The announcement also said, “Considering the significant increase in production levels achieved during the second quarter and in spite of the persistent weakness of the dollar and the important rise in steel prices, the Pinguely Haulotte group confirms that it is on schedule to achieve its target revenues of €280 million with a net income of five percent”

When asked about how the company was coping with the steel and component shortages facing the manufacturing industry, Saubot said that so far it was merely a question of price rather than availability, but that there was concern for the fourth quarter. Supplies are so far secured until the end of September at the desired levels.