L’HORME, France--(BUSINESS WIRE)--Regulatory News:
Haulotte Group (Paris:PIG):
First half revenue
|Revenue by business line in € millions||H1 2017||H1 2016||change|
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|
|Current operating income|
|Excl. exchange grain & loss||22.8||14.9||53%|
|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 events
Haulotte 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%.
Quarter 3 Sales: 17 October 2017
Codes : ISIN : FR0000066755- BLOOMBERG : PIG FP - REUTER : PYHE . PA
Euronext Paris Compartiment B – Indices : SBF 250 www.haulotte.com