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2023 First Quarter Sales

Published 2023/04/25

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Revenue by business line - excl. IAS 29 - in € millions  YTD March 23 YTD March 22 Var %
Equipment sales 172,6 115,1 +50%
Rental sales 5,8 5,2 +12%
Services 17,9 15,5 +15%
Total 196,3 135,8 +45%

(*) The changes presented below are at constant exchange rates, excluding the application of IAS29 (Argentina and Turkey hyperinflation)

2023 First Quarter Activity:

In a global aerial work platform market that remains as dynamic as ever in all geographical areas, where component supply pressure continues to abate, Haulotte recorded historic consolidated revenues of €196.3 million in Q1 2023, compared to €135.8 million in the same period last year, i.e. an increase of +43% between the two periods.

In Europe, sales were up by +35% in the first quarter, driven by all markets except for Russia, which is at a standstill.

In Asia-Pacific, Haulotte achieved a solid sales performance, in line with previous quarters, enabling it to record a +38% increase in sales for the quarter compared to the first quarter of 2022.

In North America, Haulotte confirmed the results seen in previous publications and posted growth of +72% in the first quarter, largely driven by the aerial work platform business, which more than doubled compared to the same period last year.

In Latin America, Haulotte achieved sales growth of +38% compared to the same period last year, still driven by its sales in Brazil.

All of the Group's activities showed an increase compared with Q1 2022. The sale of equipment is up by +48%, the rental business by +7% and finally the service business by +15%.

As mentioned in the 2022 Annual results presentation, the Group will not be able to meet the financial ratios stipulated in the contracts, at the end of June 2023. A new waiver request will be made in the coming days, as it was agreed with all the lenders when the waiver was obtained at the end of December 2022, with the objective to have an agreement before June 23-end.

2023 Outlook:

This first quarter of activity allows Haulotte to confirm its sales growth forecast of over +20% in 2023 and the return to a level of current operating margin (excluding foreign exchange gains and losses) between +3% and +4%.


Upcoming events:

Annual General Meeting: May 23, 2023

2023 Half-Year Results: September 12, 2023