Powered entry main Haulotte noticed a 19% drop in revenues within the first quarter of this 12 months in comparison with the identical interval in 2019, reporting a complete of $144.6m, which is a return to its 2018 ranges.
An announcement from the corporate mentioned the Q1 outcomes this 12 months are “already a mirrored image of the unfavorable impacts of the Covid-19 pandemic”, with gear gross sales falling 20% year-on-year within the quarter, rental exercise down 22% and repair exercise down 8%. Haulotte had recorded a income of $177.6m in the identical interval final 12 months, which was a report first quarter for the group.
Haulotte’s cumulative first quarter gross sales fell 23% within the European market, which was already in a slowdown noticed within the second half of 2019 and has been additional impacted by the Covid-19 disaster. The largest unfavorable impression was from southern Europe, the zone most affected by the pandemic.
Haulotte added that within the Asia-Pacific area, the place all markets are in sharp decline, the group reported a 13% drop in gross sales for the quarter in comparison with the identical interval in 2019. The decline in North American gross sales, in the meantime, was solely 2% within the first quarter, with exercise within the aerial work platform phase even displaying development of +10%.
Haulotte mentioned nearly all of Latin American markets continued to fall, excluding Brazil, which remains to be on the rise. The group’s gross sales within the area as a complete decreased by 25% year-on-year for the quarter.
Coming to the long run outlook, the Haulotte assertion mentioned: “Given the uncertainties concerning the period and extent of the well being disaster associated to Covid-19, Haulotte has determined to droop, at this stage, its monetary steering for the 12 months 2020 and can talk new parts as quickly as situations enable. The Group has already taken all the mandatory measures to greatest handle the primary penalties of this unprecedented disaster and allow Haulotte to calmly tackle its subsequent steps.”
The put up Haulotte reports 19% fall in first quarter revenues appeared first on Middle East Construction News.
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