Haulotte posted consolidated revenues of €140 million, a 17-percent year-over-year increase in the third quarter of 2022. The global mobile elevating work platform market remained dynamic in most areas since the beginning of the year, despite a macro-economic environment that shows signs of slowing down. Still marked by persistent supply difficulties for certain components that penalized deliveries as well as an inflationary environment, reinforced by an energy crisis in Europe, Haulotte recorded a strong third quarter.
For the first nine months of 2022, total revenue was €429.1 million, compared to €355.3 million for the first nine months of 2021, a 20.8-percent increase. Equipment sales were €366 million, compared to €302.8 million a year ago, a 20.9-percent hike. Rental sales were €16.3 million compared to €12.3 million in 2021, a 32.5-percent uptick. Service revenue was €46.8 million compared to €40.2 million last year, a 16.4-percent increase.
In Europe, Haulotte recorded sales growth of 10 percent for the first nine months of the year, despite the invasion of Ukraine and its consequences for the group’s activity in the Russian market.
In Asia-Pacific, Haulotte achieved its best performance of the year in the third quarter, with cumulative sales up 43 percent, mainly driven by Australia.
In North America, Haulotte recorded a 9-percent increase in sales. Growth in this zone is still driven by the scaffolding business, up 27 percent, while activity in aerial is showing a slight increase of 2 percent, despite a historical backlog.
In Latin America, Haulotte’s sales increased by 21 percent, driven by the activity in Brazil.
In the third quarter, equipment sales were up 16 percent, rental activity was up 18 percent and service activities were up 12 percent.
In this context of persistent supply difficulties for certain components, driven by a historical order book that is still increasing, Haulotte expects to post in 2022 a sales growth close to 20 percent. Given the many uncertainties that remain, reinforced by the energy crisis that is getting more significant since the summer, Haulotte Group is not able to confirm, at this stage, its current operating margin objectives for 2022.