2016 First Half: Sales increase of 16%

09/06/2016

First half revenue

 

Revenue by business line in € millions                       H1 2016                  H1 2015                  change

Equipment sales                                                                203.4                     172.5                    + 18 %

Equipment rental                                                                12.7                        12.5                     + 2 %

Services                                                                                23.7                         22.0                     + 8 %

Total                                                              239.8              207.0              + 16%

 

Haulotte Group has delivered a 17% 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.

 

First half results

Income statement highlight

In € millions (IFRS)                                                     H1 2016        H1 2015          change 16/15

Revenue                                                                                            239.8           207.0                      + 16 %

Current operating income

Excl. exchange gain & loss                                                               14.9             10.7                       + 39 %

 

Operating income                                                                             14.5             17.9                       - 19 %           

 

Consolidated Net income                                                                  9.9             17.2                       - 42 %

 

Current operating income, excluding exchange gains and losses, was up 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 favorable foreign exchange rates environment in the period compared with 2015.

The Group's net debt continues to decrease (€ -6.2 million excluding guarantees given), thanks to good profitability and good Working Capital control.

Outlook and recent events

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.

Upcoming events

Quarter 3 Sales: 18 October 2016