L’HORME, France--(BUSINESS WIRE)--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
