Haulotte posted US$263 million revenue for 6 months, compared to US$403 million for the first half of 2019, a drop of 35%. Overall it is clear to see the damage as equipment sales dropped 36% and rental sales declined 38.2%.
Haulotte’s problem began at COVID-19 ground zero in China in January 2020. The pandemic forced the company to close its commercial and industrial activities.
The impact spread further to Europe in March and by April 2020 the operation in North and Latin America was impacted. When compared to the same time last year, sales in Europe dropped 39% in sharp second quarter declines.
In Asia-Pacific half year sales slid 23%. This was despite the China market making a strong sales rebound during the second quarter. In fact, China was the only market in the world to grow for Haulotte during the second quarter.
Meanwhile the North American market plunged 28%, with only the mobile elevating work platform market holding steady.
The South American market faced the horrors of health, economic and political problems to wipe 47% off last year’s result. But Haulotte is bullish about final 2020 results suggesting a drop of between 25 to 30%.