Haulotte Group’s sales for 2022 rose by 18% to their highest-ever level - EUR609.7 million (USD660.7 million). However, operating income dropped by 0.8% to -EUR4.9 million (-USD5.3 million) due to COVID-19 and the Ukrainian crisis.

The significant increase in the price of components, transport and energy costs and fixed costs linked to the structuring of China and the United States also weighed heavily on the operating income.

The group’s net income was -EUR17.5 million (-USD18.9 million), further impacted by a significant foreign exchange loss.

In this unprecedented context of strong business growth and multiple operational disruptions, Haulotte’s net debt (excluding guarantees) increased by EUR105.1 million (USD113.90 million) to EUR246 million (USD266 million) – mainly driven by a EUR92.3 million (USD100.7 million) increase in working capital requirement, largely due to the decision taken by the group to increase inventory levels in order to support rising production rates.

In positive news, Houlotte notes that in 2022, the global aerial work platform market “confirmed the clear rebound observed in 2021 and reached its highest level ever, driven by all geographical areas”.

Looking ahead, Haulotte expects its sales to grow by more than 20% in 2023.