Haulotte Group: 2017 First Half: Sales Increase of 10%
06 September 2017 - 1:45AM
Business Wire
Current operating income (excl. exchange
gains & losses) up 53%
A net result of 2.4% impacted by currency
effects and provisions
Regulatory News:
Haulotte Group (Paris:PIG):
First half revenue
Revenue by business line in € millions H1
2017 H1 2016 change
Equipment sales 225.5 203.4 11% Equipment
rental 14.9 12.7 17% Services 24.2 23.7 2%
Total
264.6 239.8 10%
Haulotte Group delivered a 9% sales increase (at constant
exchange rates), reporting revenue of € 264.6 million in the first
half of 2017, against € 239.8 million for the same period last
year.
Excluding currency effects, the good performance from the
European zone was confirmed (+ 19%), with sustained growth in its
main markets. The Asia-Pacific region (+ 7% excluding foreign
exchange) continued to experience a contrasting situation across
the area. The level of activity in Latin and North America were
both down from last year (-3% and -13% at constant exchange rates);
due to the significant decline in the Mexican market and a slowdown
of US scaffolding sales due to a sharply drop in the market
(conversely, sales of access equipment rose in the North America
area).
Equipment sales increased by 9% (at constant exchange rates)
over the first half, with Service and Rental activities increasing
by 2% and 16% respectively (at constant exchange rates).
First half results
Income statement highlight
In € millions (IFRS) H1 2017
H1 2016 Change 17/16
Revenue 264.6 239.8 10% Current operating
income Excl. exchange grain & loss 22.8 14.9 53%
Operating Income 17.4 14.5 20% Consolidated Net Income
6.4 9.9 -35%
Assisted by a well-oriented global market, current operating
income (excluding exchange gains and losses) grew by 53% and stands
at 8.6% of revenue. This was largely due to the significant
increase in volumes sold, improvement in the profitability of our
Service and Rental activities, and control of fixed costs, despite
a significant increase in raw material prices over the period.
Net income was 2.4% of sales, negatively impacted by exchange
losses and an increase in the level of specific risk
provisions.
The Group's net debt continues to decrease (€ -14.8 million
excluding guarantees given), thanks to good profitability and good
Working Capital control.
Outlook and recent
eventsHaulotte Group is expected to post growth in
revenue close to 10% in 2017, allowing it to return to a level of
current operating income close to 7.5%.
Upcoming eventsQuarter 3
Sales: 17 October 2017
Codes : ISIN : FR0000066755- BLOOMBERG : PIG FP
- REUTER : PYHE . PA
Euronext Paris Compartiment B – Indices :
SBF 250 www.haulotte.com
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