Haulotte Group (PIG) investor relations material

Executive summary

• Revenue for H1 2026 rose 7% year-over-year to €276 million, driven by strong equipment sales and a robust Q2 performance.

• Europe led sales growth (+19% at constant exchange rate), while North America showed recovery and China stabilized after declines.

• Current operating income reached €8 million (2.9% margin), up €6 million from H1 2025, reflecting effective cost control and higher sales volumes.

• Net loss narrowed to -€9 million, mainly due to financial expenses and a €10.3 million tax reassessment.

Financial highlights

• Equipment sales grew 9% to €234 million, representing 85% of total sales, while rental and services declined by 27% and 8%, respectively.

• Gross margin increased by €4 million to €63 million, with the margin rate at 22.7% (vs. 22.5% in H1 2025).

• Fixed costs decreased by 3% (excluding bad debt provisions, at constant exchange rate).

• Net debt remained stable at €205 million.

Outlook and guidance

• Sales growth of at least 5% is expected for full-year 2026, with a return to positive current operating margin near H1 2026 levels.

• Focus remains on optimizing working capital, restoring margins, and improving operational efficiency.

• U.S. market expected to drive recovery, but supply chain and price pressures anticipated in H2 2026.

• The global environment remains uncertain, but business activity is projected to remain strong.