Improving financial results, supported by stronger business activity in the second quarter
- Sales up +7% to €276 million (at constant exchange rates, excluding IAS 29)
- Current operating margin at +2,9% of sales (excluding exchange gains and losses, excluding IAS 29)
First half results results
| Revenue by business line - excl. IAS 29 - in € millions | 2026 | 2025 | Var % |
|---|---|---|---|
| Equipment sales | 234 | 215 | 9% |
| Rental sales | 8 | 12 | -27% |
| Services | 34 | 37 | -8% |
| TOTAL | 276 | 264 | 5% |
The changes presented below are at constant exchange rates, excluding IAS29 (Argentina and Turkey hyperinflation).
Despite an economic and geopolitical environment that remains uncertain, the global aerial work platform market performed better than anticipated in the first half of the year, confirming the positive trend that emerged early in the year. In this context, supported by an +18% increase in activity during the second quarter, Haulotte reported a +7% increase in consolidated first-half revenue to €276 million, compared with €264 million in the previous year, driven by strong growth in equipment sales volumes.
In line with the quarterly revenue release, Europe continued to grow across the vast majority of markets in which Haulotte operates, posting a +19% increase in the first half. Asia-Pacific recorded a -13% decline in sales, impacted by the conflict in the Middle East. After a first quarter below the prior year level, North America delivered a stronger second quarter across all its activities, resulting in slight growth of +1% for the first half. Finally, in a less favorable market environment than in other regions, Latin America recorded a -24% decline over the period.
As of June 30, 2026, equipment sales activity were up +10%, while rental and services activities declined by -22% and -6%, respectively.
First half results results
| Income statement highlight - in € millions | 2026 | 2025 | Var. M€ | |
|---|---|---|---|---|
| Excl. IAS 29 & excl. IFRS 16 | Revenue | 276 | 264 | +12 |
| Current operating income excl. exchange gains & losses | 8 | 2 | +6 | |
| Operating income | 8 | 1 | +7 | |
| Net result | (9) | (21) | +12 | |
| IAS 29 impacts on net result | (1) | 2 | ||
| Consolidated net result | (10) | (19) | +9 |
The changes and figures presented below are excluding IAS 29 (hyperinflation in Argentina and Turkey)
Current operating income excluding exchange gains and losses, as well as 2025 operating income, are now presented including the effects of IFRS 16 (leases).
Current operating income excluding exchange gains and losses, as well as 2025 operating income, are now presented including the effects of IFRS 16 (leases).
Haulotte posted current operating income of +€8 million (excl. foreign exchange gains and losses), representing a current operating margin of +2.9% of revenue. This represents an improvement of +€6 million compared with 2025, driven by significant growth in sales volumes, effective control of production costs and continued optimization of the Group’s fixed cost base.
The group’s net result (excl. IAS 29) is a loss of -€9 million which represents -3.1% of sales, improving compared with 2025, net income was primarily impacted by financial expenses related to the group’s debt and a particularly high tax expense following a €10.3 million tax reassessment at one of its subsidiaries, decision strongly disputed by the Group.
The group’s net debt (excl. guarantees) remained broadly stable at €205 million (+€4 million over the period).
In addition, a waiver request with respect to compliance with bank ratios for the June 2026 period was submitted to all lenders and was accepted by the majority as of June 30, 2026.
Outlook and recent events:
Despite limited visibility and a still uncertain global environment, Haulotte should be able to achieve sales growth of at least 5% in 2026, enabling the Group to return to positive current operating margin close to the level reported in the first half of 2026.
Download the Consolidated financial statements extract
Download the Consolidated financial statements extract
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Quarter 3 Sales : October 27th, 2026.
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