Haulotte Group (PIG) Q3 2025 TU earnings summary

Executive summary

• Third quarter 2025 sales reached €121 million, a 14% year-over-year decline at constant exchange rates, excluding IAS29.

• Consolidated sales for the first nine months of 2025 totaled €384 million, down 23% from €509 million in 2024.

• The global aerial work platform market continues to face a downward trend due to economic and geopolitical uncertainties.

Financial highlights

• Equipment sales for the first nine months were €314 million, down 28% year-over-year.

• Rental sales decreased by 7% to €15 million, while services remained flat at €55 million.

• Total revenue for the period was €384 million, a 24% decrease from the prior year.

Outlook and guidance

• No significant improvement in current operating income is expected for the second half of 2025.

• Many rental players are already focusing on 2026, indicating continued market caution.