Haulotte's First Half of 2012 Indicates 25 Percent Sales Growth

According to Haulotte Group, the global market for powered access platforms continues to be boosted by the U.S. market. Haulotte Group has increased revenue by 25 percent in H1 2012, up to €184.5 million ($232.5 million) compared to €148.0 million ($186.5 million) in H1 2011. Equipment sales rose 30 percent, with significant growth in South America and Asia Pacific. North America also had a good first half with 34 percent growth. Service activity increased by only 3 percent, due to slower growth in the sale of spare parts (5 percent). The rental business continues to increase with the development of Latin America and improvement in our fleet utilization rates in Northern Europe.

 

Haulotte says the increase in volume and the rise in production levels, have improved operating income to 3 percent of sales (excluding restructuring costs and exchange gains & losses). It is also affected by the improvement in profitability of services and rental business. Costs relating to the closure of the Spanish plant and the transfer of production to the French sites amounted to €4.4 million ($5.5 million). Fixed costs increased by 5 percent in relation to the business development in high-growth areas.

 

The company indicated it expects the second half of the year to be comparable to H1 2012, which will enable it to achieve a positive operating income for the full year.

 

In late July 2012, Haulotte Group signed an amendment to the syndicated loan agreement, extending the maturity until July 2015 and redefining the annual repayments. An amount of €22.5 million ($28.3 million) was repaid in accordance with the July 2012 deadline in the credit agreement.