Haulotte Posts Full Year Growth Despite Fourth Quarter Slowdown
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.
About the Author
Michael Roth
Editor
Michael Roth has covered the equipment rental industry full time for RER since 1989 and has served as the magazine’s editor in chief since 1994. He has nearly 30 years experience as a professional journalist. Roth has visited hundreds of rental centers and industry manufacturers, written hundreds of feature stories for RER and thousands of news stories for the magazine and its electronic newsletter RER Reports. Roth has interviewed leading executives for most of the industry’s largest rental companies and manufacturers as well as hundreds of smaller independent companies. He has visited with and reported on rental companies and manufacturers in Europe, Central America and Asia as well as Mexico, Canada and the United States. Roth was co-founder of RER Reports, the industry’s first weekly newsletter, which began as a fax newsletter in 1996, and later became an online newsletter. Roth has spoken at conventions sponsored by the American Rental Association, Associated Equipment Distributors, California Rental Association and other industry events and has spoken before industry groups in several countries. He lives and works in Los Angeles when he’s not traveling to cover industry events.