Annual sales down -27% (*) compared with 2019, strongly impacted by Covid-19
2020 Quarter 4 activity:
Haulotte achieved revenue of €114.5 million in the last quarter of 2020, down -12% year-on-year, but up +13% over the previous quarter, driven mainly by Asia-Pacific.
2020 Annual activity:
In a global market heavily impacted by the health crisis, Haulotte posted consolidated revenue of €439.6 million in 2020 compared with €610.8 million in 2019, down -27% between the two periods.
On the European market, where almost all markets posted a significant decline, Haulotte’s cumulative sales was down -29%.
In Asia-Pacific, the market was more contrasted. China, which became the world's leading market in 2020, continued to post very strong growth, while all other markets, like Europe, experienced a sharp decline. Against this backdrop, the Group's sales held up better in this region, declining by -14% over the year.
In North America, which was also badly affected by the health crisis, the trend observed in previous months was confirmed, with annual sales in the aerial work platforms business holding up well, falling by -16%. Overall, in this region, combining all activities, sales remained down -26%.
In Latin America, where the health and economic situation in the various markets remained particularly challenging, Haulotte recorded a -47% drop in sales.
In the end, equipment sales fell by -28% over the year. Rental activity, particularly in Argentina, which was heavily impacted by the health crisis and the country's economic situation, was down -41% compared with 2019. Lastly, Services, which has just achieved its best quarter of the year, was down -16%.
Outlook:
Haulotte should report current operating income (excluding exchange gains and losses) in the second half of 2020 comparable to that recorded in the first half.
Despite a still very uncertain environment, the improvement in sales activity noted in recent weeks and the expected return on investment from major rental companies should enable Haulotte to post sales growth of around +10% in 2021.
Upcoming event:
2020 Annual Results: March 10, 2021
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