Haulotte Group: 2015 First Half: Revenue Stable at €207 Million

Operating income up by €4.4 million supported by currency effects

L’HORME, France--()--Regulatory News:

First half revenue

Revenue by business line in € millions   H1 2015   H1 2014   change
Equipment sales 172.5 176.7 - 2.4 %
Equipment rental 12.5 10.8 +15.7 %
Services 22.0 19.7 + 11.7 %

Total

207.0

207.2

- 0.1 %

Haulotte Group (Paris:PIG) delivers consistent sales (-8% at constant exchange rates) of € 207.0 million in the first half of 2015, against €207.2 million for the same period last year.
Excluding currency effects, strong performances from Asia (+ 17%) and North America (+ 8%) offset a mixed picture in Europe (-13%) over the period – due to the “wait and see” attitude of major rental companies and a more difficult situation in Latin America (-34%). The Group's other activities are growing in the first half of the year respectively by 9% and 3% on Services and Rental activity at constant exchange rates.

First half results

Income statement highlight

In € millions (IFRS)   H1 2015   H1 2014   change 15/14
Revenue 207.0 207.2 0%
Current operating income
Excl. exchange gain & loss 10.7 15.5 -31 %
Operating income 17.9 13.5 +33 %
Consolidated Net income 17.2 10.3 +67%
Ebitda 22.6 19.3 +17 %

Operating income was up 33%, driven by strong currency effects.

Current operating income, that represents 5.2% of sales (excluding gains and losses), was impacted by increasing competition intensity with prices not yet reflecting changes in exchange rates, and higher fixed costs due to continued focus on the Group's strategic axis of development, particularly innovation.

The Group's net debt remained stable over the period, reflecting a level of contained working capital.

Outlook and recent events

Strong commercial activity during the summer and the euro / dollar FOREX rate remaining favourable allows Haulotte Group to confirm sales growth expectations of close to 5% and a current operating margin rate in line with that delivered in 2014.

Upcoming events
Quarter 3 Sales: 13 October 2015

Codes : ISIN : FR0000066755- BLOOMBERG : PIG FP - REUTER : PYHE . PA
Euronext Paris Compartiment B – Indices : SBF 250 www.haulotte.com

Contacts

Haulotte Group
Alexandre SAUBOT, Tél. : +33 (0)4 77 29 94 86
relation-investisseurs@haulotte.com
or
Carine Ploton, Tél. : +33 (0)4 77 29 94 86
relation-investisseurs@haulotte.com

Contacts

Haulotte Group
Alexandre SAUBOT, Tél. : +33 (0)4 77 29 94 86
relation-investisseurs@haulotte.com
or
Carine Ploton, Tél. : +33 (0)4 77 29 94 86
relation-investisseurs@haulotte.com