Haulotte records 16% sales spurt in First Half of 2016
Haulotte Group has recorded a 16% sales increase (at constant exchange rates), reporting € 239.8 million in the first half of 2016, against € 207.0 million for the same period, last year.
Excluding currency effects, the strong performance from Europe (+30%), driven by the recovery in investment expenditure of rental companies, and North America (+9%), offset a mixed picture in Asia Pacific (+1%), and a still difficult situation in Latin America (-6%). The Group's other activities are growing in the first half of the year, by +9% on Services activity, and +2% on Rental activity at Constant Exchange Rates (CER).
Current operating income, excluding exchange gains and losses, was upto 39% and amounted to 6.2% of sales (+1 pt compared to first half of 2015). It is mainly due to a significant growth in volume, notably in Europe, despite an increasingly competitive market.
The decrease in operating income and net income was mainly the consequence of a less favourable foreign exchange rates environment in the period, as compared to 2015. The Group's net debt continues to decrease (€ -6.2 million, excluding guarantees given), and this is due to good profitability and good Working Capital Control.
Haulotte Group confirms, for the year 2016, growth in revenue close to 5%, due to the particularly high level of activity in the last quarter of 2015, and an improvement of its current operating margin rate.
Excluding currency effects, the strong performance from Europe (+30%), driven by the recovery in investment expenditure of rental companies, and North America (+9%), offset a mixed picture in Asia Pacific (+1%), and a still difficult situation in Latin America (-6%). The Group's other activities are growing in the first half of the year, by +9% on Services activity, and +2% on Rental activity at Constant Exchange Rates (CER).
Current operating income, excluding exchange gains and losses, was upto 39% and amounted to 6.2% of sales (+1 pt compared to first half of 2015). It is mainly due to a significant growth in volume, notably in Europe, despite an increasingly competitive market.
The decrease in operating income and net income was mainly the consequence of a less favourable foreign exchange rates environment in the period, as compared to 2015. The Group's net debt continues to decrease (€ -6.2 million, excluding guarantees given), and this is due to good profitability and good Working Capital Control.
Haulotte Group confirms, for the year 2016, growth in revenue close to 5%, due to the particularly high level of activity in the last quarter of 2015, and an improvement of its current operating margin rate.
NBM&CW October 2016