Haulotte Group reported a decline in sales for the first quarter of 2024, with revenues totaling €157 million, down 19% compared to the same period last year. These figures, adjusted for constant exchange rates and excluding the impact of IAS 29, reflect a challenging economic landscape and shifting market dynamics.
The decline in sales was attributed to various factors across different regions. In Europe, economic slowdown and high interest rates led to a cautious approach among major rental companies, resulting in a significant drop of 28% in first-quarter sales. Meanwhile, sales in the Asia-Pacific region remained relatively stable, with only a slight decrease of 3% compared to the previous year.
North America witnessed a 9% decline in sales compared to the first quarter of 2023, despite a positive performance in the aerial work platform business, which saw a slight decrease of 5%. Latin America experienced a more pronounced downturn, with sales plummeting by 26% in the first quarter.
Equipment sales took the hardest hit, declining by 22% compared to the same period in 2023. Rental business also saw a decrease of 8%, while service business remained stable.
Looking ahead to the rest of 2024, Haulotte anticipates a challenging environment characterized by a cautious approach from customers. The company aims to navigate these conditions by closely monitoring sales activity in the second quarter, which will be crucial in achieving its annual target of stable sales for the year. Haulotte also aims to maintain its current operating margin, excluding foreign exchange gains and losses, close to 5% of sales amidst the evolving market landscape.
Lift & Access is part of the Catalyst Communications Network publication family.
