French equipment maker Haulotte recorded an 18% rise in sales over the first half of 2019, despite a slow-down in the mobile elevated work platform (MEWP) market.
The company's latest results indicate revenues of EUR305.8 million (USD336 million) - up from EUR252.3 million (USD277 million) for the same period of 2018.
After several years of strong growth, the global MEWP market showed signs of slowing down in the first half of 2019; in particular, North America declined over the period, and Europe remained stable overall compared to the previous year.
In this context, Haulotte delivered an excellent commercial performance, posting its highest level of activity ever, directors report.
In line with previous half-year results, the European region continued to post sustained sales growth of 20% in the majority of its markets. Sales in Asia Pacific increased by 21% over the period, driven by very good sales performances in China and Australia. In Latin America, the group's business declined slightly (-2%) compared to 2018, with only Brazil posting growth. In North America, sales increased by 16%, driven by a return to a sustainable level of activity on scaffolding.
Sales growth continues to be driven by equipment sales, up 20% in the first half of the year. The services business grew by 3% and the rental business by 22%.
Despite the market slow-down, Haulotte confirms its annual objectives for 2019, a growth in sales and current operating income (excluding exchange gains and losses) of around 10%.