Financial results impacted by the sharp decline in the global aerial work platform market
- Current operating margin at +0,6% of sales (excluding exchange gains and losses, excluding IFRS 16 & IAS 29)
Revenue by business lines - excl.IAS 29 - in € millions | 2025 | 2024 | Var % |
---|---|---|---|
Equipment sales | 215 | 316 | -32% |
Rental sales | 12 | 11 | +3% |
Services | 37 | 36 | +2% |
TOTAL | 264 | 363 | -27% |
The changes presented below are at constant exchange rates, excluding IAS 29 (hyperinflation in Argentina and Turkey).
As of June 30, 2025, equipment sales activity was down -32%, while rental activity increased by +4% and services grew by +3%.
Income statement highlight - in € millions | 2025 | 2024 | Var. M€ | |
---|---|---|---|---|
Excl. IAS 29 & excl. IFRS 16 | Revenue | 264 | 363 | -99 |
Current operating income excl. exchange gains & losses | 1 | 30 | -29 | |
Operating income | (0) | 29 | -29 | |
Net income | (21) | 15 | -36 | |
IAS 29 & IFRS 16 impacts on net income | 2 | 1 | ||
Consolidated net income | (19) | 16 | -35 |
The changes and figures presented below are excluding IAS 29 (hyperinflation in Argentina and Turkey) and IFRS 16 (leases).
The group’s net result (excl. IFRS 16 and IAS 29) is a loss of -€21 million which represents -8% of sales, mainly driven by financial expenses, the weakening of multiple currencies against the Euro, and an adjustment on deferred taxes related to the current situation.
The group’s net debt (excl. guarantees and IFRS 16) stands at €209 million, an increase by +€9 million over the period.
Given the current limited business outlook for the second half of 2025, and with many rental players already shifting their focus to 2026, the Group does not expect any significant improvement in its current operating income for the second half of 2025.
Quarter 3 Sales : October 28th, 2025
Annual Sales : February 10th, 2026.