French aerial equipment manufacturer Haulotte achieved revenues of €132.9 million in the fourth quarter of 2019, stable compared to the previous quarter but down 9 percent compared to the particularly strong same period in 2018.
The quarter’s sales were mainly sustained by North America and Asia, where the Group delivered excellent sales performance.
For the full year of 2019, the global aerial work platform market was stable in volume terms over the year. Haulotte posted consolidated revenue of €610.8 million in 2019 compared to €558.0 million in 2018, representing growth of 8 percent year over year.
The European market slowed down after peaking in the first half of 2019, by ending the year below 2018 levels. Despite this, Haulotte increased sales by 5 percent, delivering growth in the majority of its markets and allowing it to strengthen its market leading position.
In Asia-Pacific, which was the only strong growth market in 2019, the Group’s sales grew by 15 percent, driven mainly by activity in China and Australia.
In North America, Haulotte ended the year 2019 with a 16 percent volume increase, especially strong in scaffolding.
Except for the Brazilian market, which rebounded sharply, all other Latin American markets show a significant decline. Despite this uncertain environment, Haulotte delivered stable sales in the area.
Equipment sales increased by 8 percent year over year. Rental activity continued to build on the momentum of the previous quarters and posted growth of 23 percent. The Services business, which had an excellent fourth quarter, posted growth of 7 percent.
Haulotte confirmed that it will not be able to meet its current operating income growth target of close to 10 percent (excluding foreign exchange gains and losses) for the year 2019 and should end up close to its 2018 level. Against a backdrop of declining European and North American markets, and facing the macroeconomic uncertainties affecting the global economy, Haulotte expects to post a decline in sales of close to 10 percent in 2020.
