Haulotte Announces Mid-year Financial Results

September 19, 2007 • L'Horme, France-based Haulotte Group announced gains in its first-half 2007 financial results. The company reports that its operating income has increased by 46 percent. Haulotte Group achieved further improvements in margins as market trends remained positive while continuing to add new production capacity and strengthening its sales network.

Net sales for the company for mid-year are U.S. $433 million, up 30 percent compared to mid-year 2006. The company reports an operating profit of about $82 million, an increase of almost 46 percent compared to the previous year.

 

Driven by sustained growth, the company has an operating margin of 19 percent and a net margin of 12 percent in the 2007 first half versus 17 percent and 11.3 percent respectively in the equivalent prior-year period. These gains were fueled by strong sales and favorable foreign exchange trends in large part offsetting the impact of higher fixed costs associated with the group's development and organizational measures.

 

Haulotte Group is pursuing the expansion of its sales network with new subsidiaries scheduled to be opened in the Middle East and South America before year-end. Output of the new production plants in Spain and Romania in operation since March has accelerated at a satisfactory rate and at this pace they are expected to produce more than 1,000 units in 2007.

 

In light of the commercial performance of the summer with orders at the end of August up by more than 50 percent, the company confirms guidance issued in July for full-year sales growth approaching 25 percent and a net margin close to 12 percent.

 

The company will announce its third-quarter sales Oct. 18.