Haulotte

2019 First Half: Sales Increased by +18% (at Constant Exchange Rates, Excluding IAS 29) - Seite 2

285,4

20%

Current operating income excl. gain & loss

23,8

20,2

18%

Operating income

20,8

20,0

4%

Net result from continuing operation

17,4

13,2

32%

Net Result from discontinued operations

-

5,9

 

 

 

 

IAS 29 & IFRS 16 impacts on net result

0,9

-

 

 

 

 

Consolidated net result

18,3

19,1

 

 

The figures below are presented for continuing operations, excluding IAS 29 and excluding IFRS 16.
Current operating income (excluding exchange gains and losses) from continuing operations increased by +18% to €23.8m; driven by volume growth, a significant improvement in the machine mix and higher sales prices, partially offset by higher component costs and fixed cost increases generated by the deployment of the Group's strategic plan.
Operating income rose by +4% and net income by +32% over the period, to 5.1% of sales.
Despite the strong growth in business, the Group's requirement for working capital (measured in revenue days) fell by more than a month, resulting in only a €10.1 million increase in consolidated net debt (excluding guarantees and IFRS16) in the first half.

Outlook and recent events
On 17^th July 2019, Haulotte signed a new syndicated credit agreement with its banking partners, for an amount of €130 million, providing it with the financial resources necessary for its development.
Despite the market slowdown, Haulotte confirms its annual objectives for 2019, a growth in sales and current operating income (excluding exchange gains and losses) of around +10%.
Download the Consolidated financial statements extract

Upcoming event
Quarter 3 sales: October 15, 2019

View source version on businesswire.com: https://www.businesswire.com/news/home/20190911005603/en/