Haulotte Group

Haulotte Group manufactures and sells machines for use in building/public works and industrial markets. Co. specializes in people and material lifting equipment. It also operates in rental market for this equipment. Co.'s offering includes access equipment, telehandlers, earth moving equipments, system and utility scaffolds, event staging and seating. Its activities can be divided into three segments: the manufacture and sale of lifting equipment, the rental of lifting equipment, and services (spare parts, repairs and financing). Co. operates geographically in Europe, North America, South America and Asia/Pacific.
  • TickerPIG
  • ISINFR0000066755
  • ExchangeEuronext Paris
  • SectorIndustrial Engineering
  • CountryFrance

Analysts

Benoit Valleaux ...
  • Christophe Chaput
  • Emmanuel Matot
  • Geoffroy Michalet
  • Hana Maalej
  • Hela Zarrouk
  • Jean-François Granjon
  • Jeremy Garnier
  • Johanna Jourdain
  • Martial Descoutures
  • Nicolas Thorez
  • Pierre Corby
  • Roland Pfaender

ODDO BHF Small & MIDCAP MORNING NEWS - 04/17/2019

At 9.7x 2020e EBITDA the market is yet to factor in Voltalia’s short-term growth targets (1 GW at end-2020). However, at only eighteen months from this deadline, the majority of the projects that will be necessary to achieve this target are under already construction and the pipeline of 6.2 GW guarantees continued growth beyond 2020. After two years of stock market stability we think that the short-term acceleration in installed capacity will lead to a revaluation in the multiples and...

Benoit Valleaux ...
  • Christophe Chaput
  • Christophe-Raphaël Ganet
  • Emmanuel Matot
  • Geoffroy Michalet
  • Hana Maalej
  • Hela Zarrouk
  • Jean-François Granjon
  • Jeremy Garnier
  • Johanna Jourdain
  • Martial Descoutures
  • Nicolas Thorez
  • Pierre Corby
  • Roland Pfaender

ODDO BHF Small & MIDCAP MORNING NEWS - 17/04/2019

A 9.7x l’EBITDA 2020e, le marché ne valorise toujours pas les objectifs de croissance de CT de Voltalia (1GW fin 2020). Pourtant, à seulement 18 mois de l’échéance, la plupart des projets nécessaires à leur atteinte sont en construction et le pipeline de 6.2 GW garantit la poursuite de la croissance au-delà de 2020. Nous pensons que l’accélération des mises en service attendue sur 2019 et surtout 2020 va inexorablement entrainer une revalorisation des multiples. Nos valorisations, sur...

Thanks to a better fundamental star rating, HAULOTTE GROUP sees an upgrade to Neutral

The independent financial analyst theScreener just awarded an improved star rating to HAULOTTE GROUP (FR), active in the Commercial Vehicles & Trucks industry. As regards its fundamental valuation, the title receives an improved star rating and now shows 4 out of 4 possible stars. With regard to its market behaviour, it remains unchanged and can be qualified as risky. theScreener considers that these elements allow slightly upgrading its rating to Neutral. As of the analysis date April 16, 2019, the closing price was EUR 8.29 and its expected value was estimated at EUR 7.85.

Emmanuel Matot

Haulotte : Business trend remains very favourable

>Q1 sales higher than our forecasts - Haulotte yesterday evening reported its Q1 sales. It underscored robust growth in business, with sales reflecting organic growth of +17% to € 163m, ahead of our estimate (€ 154m). By geographic region, demand was sustained in Europe (+20% - slowdown only in the UK), in North America (+20% - upturn in the scaffolding business) and in South America (+21% - support from Brazil). In contrast, Asia-Pacific was down (-3% - difficul...

Emmanuel Matot

Haulotte : L’activité reste très bien orientée

>CA T1 supérieur à nos attentes - Haulotte a publié hier soir son CA T1. Il met en avant une forte dynamique de l’activité avec des ventes en croissance organique de +17% à 163 M€, un niveau dépassant nos attentes (154 M€). Par zone géographique, la demande s’avère soutenue en Europe (+20% - ralentissement uniquement au RU), en Amérique du Nord (+20% - reprise de l’activité échafaudage) et en Amérique du Sud (+21% - soutien du Brésil). A l’inverse, l’Asie-Pacifiq...

Emmanuel Matot

Haulotte : Business trend remains very favourable

>Q1 sales higher than our forecasts - Haulotte yesterday evening reported its Q1 sales. It underscored robust growth in business, with sales reflecting organic growth of +17% to € 163m, ahead of our estimate (€ 154m). By geographic region, demand was sustained in Europe (+20% - slowdown only in the UK), in North America (+20% - upturn in the scaffolding business) and in South America (+21% - support from Brazil). In contrast, Asia-Pacific was down (-3% - difficul...

Emmanuel Matot

Haulotte : L’activité reste très bien orientée

>CA T1 supérieur à nos attentes - Haulotte a publié hier soir son CA T1. Il met en avant une forte dynamique de l’activité avec des ventes en croissance organique de +17% à 163 M€, un niveau dépassant nos attentes (154 M€). Par zone géographique, la demande s’avère soutenue en Europe (+20% - ralentissement uniquement au RU), en Amérique du Nord (+20% - reprise de l’activité échafaudage) et en Amérique du Sud (+21% - soutien du Brésil). A l’inverse, l’Asie-Pacifiq...

Emmanuel Matot

Haulotte : Margin pressures even stronger than expected

>2018 results lower than we expected - Haulotte yesterday evening reported its 2018 results which were worse than expected. We would particularly highlight underlying operating profit, which saw a fall of 13% for continuing operations, at € 37m (vs € 40m for Oddo/consensus). Management had issued a profit warning mid-February, saying that the target for stable underlying operating profit (i.e. € 42m) would not be achieved (despite good sales momentum: +14% i...

Emmanuel Matot

Haulotte : Pressions encore plus fortes que prévu sur les marges

>Résultats 2018 en deçà de nos attentes - Haulotte a publié hier soir ses résultats 2018 qui ressortent pire que prévu. Nous retiendrons surtout un ROC en baisse de 13% pour les activités poursuivies, s’établissant à 37 M€ (vs Oddo/consensus = 40 M€). Les dirigeants avaient émis mi-février un « profit warning », indiquant que leur objectif d’une stabilité du ROC (soit 42 M€) ne serait pas atteint (malgré une bonne dynamique du CA : +14% en organique) suite a...

Emmanuel Matot

Haulotte : The business is there but not the margins

>2018 sales target achieved – No significant difference vs previous quarter - Haulotte reported its Q4 sales yesterday evening. Figures showed that there was no significant difference with forecasts (€ 142m vs Oddo BHF/consensus = € 145m) even though we had hoped for a slightly stronger trend (+6% organic).For FY 2018, organic sales growth came in at 11%, validating management’s target of >10%. All geographic zones performed well, with double-digit growth in Euro...

1 director bought

A director at Haulotte Group bought 1,900 shares at 13.300EUR and the significance rating of the trade was 53/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names o...

Benoit Valleaux ...
  • Christophe Chaput
  • Emmanuel Matot
  • Geoffroy Michalet
  • Hana Maalej
  • Hela Zarrouk
  • Jean-François Granjon
  • Jeremy Garnier
  • Johanna Jourdain
  • Martial Descoutures
  • Nicolas Thorez
  • Pierre Corby
  • Roland Pfaender

ODDO BHF Small & MIDCAP MORNING NEWS - 04/17/2019

At 9.7x 2020e EBITDA the market is yet to factor in Voltalia’s short-term growth targets (1 GW at end-2020). However, at only eighteen months from this deadline, the majority of the projects that will be necessary to achieve this target are under already construction and the pipeline of 6.2 GW guarantees continued growth beyond 2020. After two years of stock market stability we think that the short-term acceleration in installed capacity will lead to a revaluation in the multiples and...

Benoit Valleaux ...
  • Christophe Chaput
  • Christophe-Raphaël Ganet
  • Emmanuel Matot
  • Geoffroy Michalet
  • Hana Maalej
  • Hela Zarrouk
  • Jean-François Granjon
  • Jeremy Garnier
  • Johanna Jourdain
  • Martial Descoutures
  • Nicolas Thorez
  • Pierre Corby
  • Roland Pfaender

ODDO BHF Small & MIDCAP MORNING NEWS - 17/04/2019

A 9.7x l’EBITDA 2020e, le marché ne valorise toujours pas les objectifs de croissance de CT de Voltalia (1GW fin 2020). Pourtant, à seulement 18 mois de l’échéance, la plupart des projets nécessaires à leur atteinte sont en construction et le pipeline de 6.2 GW garantit la poursuite de la croissance au-delà de 2020. Nous pensons que l’accélération des mises en service attendue sur 2019 et surtout 2020 va inexorablement entrainer une revalorisation des multiples. Nos valorisations, sur...

Charles Lepetitpas ...
  • Christophe Chaput
  • Emmanuel Matot
  • Geoffroy Michalet
  • Jean Sassus
  • Jean-François Granjon
  • Jeremy Garnier
  • Jerôme Bodin
  • Martial Descoutures
  • Nicolas Thorez
  • Nicolas David
  • Oussema Denguir
  • Pierre Corby
  • Steven Gould

ODDO BHF Small & MIDCAP MORNING NEWS - 03/13/2019

Offshore and FPSO-type floating production systems will remain key for the future balance of the oil market. Between now and 2035, new offshore projects producing an additional 20 mb/d will have to be launched! We expect an acceleration in momentum in this segment after several years of underinvestment. SBM Offshore, on which we adopt a Buy recommendation (vs Neutral) with a target price of € 22, is the key player in this segment in our view. We remain more cautious on players with a ...

Charles Lepetitpas ...
  • Christophe Chaput
  • Emmanuel Matot
  • Geoffroy Michalet
  • Jean Sassus
  • Jean-François Granjon
  • Jeremy Garnier
  • Jerôme Bodin
  • Martial Descoutures
  • Nicolas Thorez
  • Nicolas David
  • Oussema Denguir
  • Pierre Corby
  • Steven Gould

ODDO BHF Small & MIDCAP MORNING NEWS - 13/03/2019

...

Alexandre Iatrides ...
  • Alfred Glaser
  • Aurelien Sivignon
  • Christophe Chaput
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Emmanuel Matot
  • Florent Laroche-Joubert
  • Geoffroy Michalet
  • Jean Sassus
  • Jean-Baptiste Rouphael
  • Jeremy Garnier
  • Nicolas Thorez
  • Oussema Denguir
  • Pierre Corby
  • Steven Gould
  • Valentin Pernet

ODDO BHF Small & MIDCAP MORNING NEWS - 02/13/2019

...

Thanks to a better fundamental star rating, HAULOTTE GROUP sees an upgrade to Neutral

The independent financial analyst theScreener just awarded an improved star rating to HAULOTTE GROUP (FR), active in the Commercial Vehicles & Trucks industry. As regards its fundamental valuation, the title receives an improved star rating and now shows 4 out of 4 possible stars. With regard to its market behaviour, it remains unchanged and can be qualified as risky. theScreener considers that these elements allow slightly upgrading its rating to Neutral. As of the analysis date April 16, 2019, the closing price was EUR 8.29 and its expected value was estimated at EUR 7.85.

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

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Haulotte Group S.A. - Strategy, SWOT and Corporate Finance Report

Synopsis Haulotte Group S.A. - Strategy, SWOT and Corporate Finance Report, is a source of comprehensive company data and information. The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360˚ view of the company. Summary - Detailed information on Haulotte Group S.A. required for business and competitor intelligence needs - A study of the major internal and external factors affecting Haulotte Group S.A. in the form of a SWOT analysis - An in-depth view of the business model of Haulotte Group S.A. including a br...

Jehanne Leroy

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Le rapport spécial des commissaires aux comptes sur les conventions réglementées est disponible. Cependant, il est en plusieurs points contraires aux préconisations de Proxinvest : Proxinvest s'oppose à toute convention conclue avec des administrateurs car cela compromet leur indépendance. Cette année, l’ensemble des conventions soumises à approbations sont conclues avec un administrateur de la société. En effet, un administrateur doit avoir à cœur les intérêts de la société et de ses actionnaires tandis qu'un consultant a d'abord ses propres intérêts à cœur. D'où l'incompatibilité de mener à...

SRI Quantitative KPIs

Les analyses Gaïa sont des analyses ESG (Environnement, Social, Gouvernance) dediees aux entreprises de tailles intermediaires (PME, ETI) françaises. Elles presentent 120 indicateurs quantitatifs sur les trois derniers exercices.

Matthieu DRIOL

Analyse court terme - HAULOTTE GROUP : La tendance de fond est clairement orientée à la baisse.

La tendance de fond est clairement orientée à la baisse. Les prix baissent à nouveau, mais le mouvement est devenu hésitant. Le prochain support est à 9,28 €. La tendance de fond serait remise en cause en cas de franchissement de 13,20 €.

Matthieu DRIOL

Short term view - HAULOTTE GROUP : The background trend is clearly bearish.

The background trend is clearly bearish. Prices are falling again, but the movement has become hesitant. The next support is at €9.28. The background trend would be questioned should prices rise above €13.20.

Matthieu DRIOL

Analyse court terme - HAULOTTE GROUP : La tendance de fond est clairement orientée à la baisse.

La tendance de fond est clairement orientée à la baisse. Le mouvement se poursuit. Le prochain objectif est à 9,28 €, puis 8,43 €. Le franchissement de 13,20 € remettrait en cause la suite de la baisse.

Matthieu DRIOL

Short term view - HAULOTTE GROUP : The background trend is clearly bearish.

The background trend is clearly bearish. The movement goes on. The next target is at €9.28, then €8.43. Passing €13.20 would question the continuation of the fall.

Matthieu DRIOL

Medium term view - HAULOTTE GROUP : The trend is bearish.

The trend is bearish. The movement goes on. The next target is at €9.92, then €7.95. Passing €19.38 would question the continuation of the fall.

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