HAULOTTE GROUP (EPA:PIG) - Haulotte: 2019 Annual Results
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03/03/2020 17:40
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HAULOTTE : ANNUAL RESULTS
Financial Information L'Horme, March 3, 2020
Current operating income (excluding foreign exchange gains and losses) of EUR
36.1 million, similar to 2018 (*).
2019 Results:
Income statement highlight - in EUR millions
Continuing operations excl. IAS 29 & excl. IFRS 16
2019 2018 Change
Revenue 610.8 558.0 9%
Current operating income
excl. gain & loss 36.1 37.1 -3%
Operating income 29.0 30.1 -4%
Net result from continuing
operation 17.7 15.0 18%
Net Result from discontinued
operations - 5.9
IAS 29 & IFRS 16 impacts on
net result 1.8 3.0
Consolidated net result 19.5 23.9 -18%
Audit procedures on the financial statements have been completed; the
certification report will be issued after verification of all legal
documents.
(*) The changes presented in the title and below are excluding the application
of IAS 29 (Argentina hyperinflation) and IFRS 16 (Leases), restated for the
rental business in Italy, sold on June 21, 2018.
In a worldwide aerial work platform market that was globally stable in volume
terms over the year, Haulotte achieved cumulative sales of EUR 610.8 million in
2019 compared to EUR 558.0 million in 2018, an increase of +8% (at constant
exchange rates), driven by growth in the majority of areas and by a clear mix
improvement in new equipment sales.
Over the year, Haulotte posted current operating income of EUR36.1 million
(excluding foreign exchange gains and losses), close to that of 2018 (-3%),
impacted by a slowdown in sales in the second half of the year, average
component costs higher than in 2018 (although a decline started in the second
half of the year) and increased fixed costs related to the deployment of the
"Let's dare together" strategic plan.
Net income from continuing operations increased by +18%, notably due to a more
favourable foreign exchange environment. However, consolidated net income
(including IFRS 16 & IAS 29) was down -18% compared to 2018 (which was
positively influenced by the sale of the Italian rental activity).
Over the period, working capital requirements remained stable in value compared
to 2018. Net debt of the Group increased by +EUR23.5 million over the period
due to the increase in capital expenditure (particularly related to the
construction of the new head office) and the growth in financed sales.
2020 Outlook:
In a context of declining European and North American markets, Haulotte expects
to post a decrease in sales close to -10% but maintain a level of current
operating income (excluding foreign exchange gains and losses) close to that of
2019.
Dividend:
A dividend of EUR 0.22 per share - relating to fiscal year 2019 - will be
proposed at the Annual General Meeting on 26th May.
Upcoming events:
First Quarter Sales: April 14, 2020
General Meeting: May 26, 2020
CONTACTS
Alexandre SAUBOT Carine Ploton
Tél. : +33 (0)4 77 29 94 86 Tél. : +33 (0)4 77 29 94 86
relation-investisseurs@haulotte.com relation-investisseurs@haulotte.com
Codes : ISIN : FR0000066755- BLOOMBERG : PIG FP - REUTER : PYHE . PA
Euronext Paris Compartiment B - Indices : CACS
haulotte.com