|Revenue by business line in million (**)|
(**) Data for 2018 have been restated excluding the rental activity in Italy, which was sold on June 2018.
(*) The changes presented in the title and below are at constant exchange rates, excluding the application of IAS29 (Argentina hyperinflation).
2019 Quarter 3 Activity
In the third quarter of 2019, Haulotte Group posted consolidated sales of €135.3 million, up +4% compared to the same period last year, in a market which has accumulated indications of slowing down since our last financial release.
At the end of September 2019, sales amounted to €477.9 million compared to €413.9 million last year, an increase of +14% between the two periods.
In a European market that is now declining compared to last year, the Group's sales are slowing but remain up +13% at the end of September, driven by the majority of countries.
In Asia-Pacific, the Group's activity remains dynamic, at +18% year-to-date, still driven by sales in China and Australia.
Latin America achieved a good third quarter, allowing the Group to post +9% growth at the end of September, with Brazil continuing the momentum seen in the first half of the year.
In North America, Haulotte continues to post +17% year-to-date sales growth, mainly due to scaffolding activity.
Equipment sales increased by +14%. The services activity grew by +5% while the rental business grew by +25%.
With an increasingly uncertain global economic context pushing major market players to adopt a 'wait-and-see' attitude, it is unlikely that Haulotte will meet its annual objectives for 2019, a growth in sales and current operating income of around +10% (excluding exchange gains and losses).
2019 Annual Sales: February 11, 2020