Haulotte Group (PIG) Q1 2025 TU earnings summary

Executive summary

• First quarter 2025 sales reached €131 million, an 18% year-over-year decrease at constant exchange rates, excluding IAS29.

• The global aerial work platform market slowdown that began in H2 2023 continued into early 2025.

• Modest sequential growth of 3% over the previous quarter was achieved despite challenging conditions.

Financial highlights

• Equipment sales declined 21% year-over-year to €105 million.

• Rental sales increased 19% to €6 million, and services rose 9% to €20 million compared to Q1 2024.

• Total revenue dropped 17% year-over-year, from €157 million to €131 million.

Outlook and guidance

• Limited market visibility prevents providing sales and operating margin guidance for 2025.

• Focus remains on innovation, customer relationships, stock optimization, and cost control.