2007 - Pinguely Haulotte

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2007 annual report # p79-80 Excerpt of the management report to the annual general meeting of April 22nd, 2008 The extraordinary general meeting authorizes the Board of Directors to cancel on one or more occasions all or part of the company shares that may be held under this share buy-back program not to exceed 10% of the share capital of the company per 24 month period. In this context, it authorizes the Board of Directors to allocate the difference between the purchase price of the cancelled shares and their nominal value to share premium accounts or revenue reserves and vests the Board with all powers to define the conditions and procedures of such cancellations and amend, as applicable the company's bylaws. In the case of share issues the powers that may be granted to the Board of Directors shall be authorized by the general shareholders' meeting. AGREEMENTS SUBJECT TO ARTICLES L.225-38 ET SEQ. OF THE FRENCH COMMERCIAL CODE The auditors’special report provides information on regulated agreements with related parties subject to the provisions of article L.225-38 of the French Commercial Code concluded in prior periods that remained in force in the last fiscal year. In compliance with the provisions of article L. 225-40 of the French Commercial Code, we request that you approve this report. We inform you that you may obtain from the date of the notice of the general meeting information providing a list of such agreements and their purposes concluded in the course of the normal operations of the company in the period under review and which, in light of their purpose or financial implications, are of a material nature for one of the parties. GROUP MANAGEMENT REPORT Review of consolidated operations: The Group financial statements have been prepared in accordance with IFRS as adopted by the European Union. In 2007 Group sales increased 24.8% to €648,1 million from €519 million in the prior year. This result reflects strong growth in equipment sales (+27%) and to a lesser extent leasing activity (+8.4%). Growth in production volume also fueled this positive commercial performance. In terms of the geographical sales mix, Europe remains the largest market (88.6% of total revenue). Current operating income increased significantly by more than 19,7% from €95 million in 2006 to €113,7 million. The operating margin for the year was 17,5% versus 18,3% in 2006. Operating profit benefited from a positive volume effect (€38,7 million), even though reorganization measures of the Group and the expansion of the commercial network resulted in a significant increase in administrative and selling expenses (€18 million). Research and development expenditures increased €1 million. Operating income was also adversely impacted by a negative translation effect of €2,2 million. Net attributable profit at 31 December 2007 totalled €71 million versus €60,4 million in 2006, representing a net margin of 11% compared with 11,6% in the prior year. This decline reflects primarily the negative translation effect combined with a limited net financial expense. Foreseeable changes in the Group's situation and outlook: Markets with strong potential in Eastern Europe, South America and Asia should provide Haulotte Group with additional opportunities for further expansion. New production capacity will also increase our inventories of available products and the quality of customer service. The ramp up of production for the telehandler line in 2008 should also significantly contribute to future growth. SUMMARY OF AUTHORIZATIONS IN FORCE GRANTED BY THE GENERAL MEETING OF THE SHAREHOLDERS TO THE BOARD OF DIRECTORS FOR CAPITAL INCREASES IN COMPLIANCE WITH ARTICLES L. 225-129-1 L. 225- 129-2 AND L.225-129-3: There is no authorization granted to the Board of Directors. REPORT OF THE CHAIRMAN OF THE BOARD OF DIRECTORS IN ACCORDANCE WITH ARTICLE L.225-37 OF THE FRENCH COMMERCIAL CODE: In accordance with the provisions of article L.225-37 of the French Commercial Code, the Chairman's report on the Board’s operating procedures and internal control is enclosed in Appendix 2 of this report. The Board of Directors.
Five-Year financial summary 2007 2006 2005 2004 2003 SHARE CAPITAL AT YEAR-END Common stock 4 476 420.00 4 456 704.20 4 439 416.80 4 439 416.80 4 439 416.80 Number of outstanding shares - ordinary shares - preferred shares 34 434 000.00 34 282 340.00 34 149 360.00 34 149 360.00 34 149 360.00 Maximum number of future shares to be issued - by conversion of bonds - by exercise of stock options OPERATIONS AND RESULTS Sales excluding taxes Earnings before taxes, employee 528 156 057.00 414 176 101.40 305 944 067.42 211 159 588.71 191 207 863.95 profit-sharing, depreciation and provisions 108 180 316.37 88 764 100.56 53 394 985.94 19 181 038.58 6 928 075.00 Corporate income tax 22 930 420.83 23 864 202.71 14 634 512.00 2 403 237.00 13 308.33 Employee profit-sharing 1 976 596.00 2 310 715.00 1 580 765.38 Allowances for depreciation and provisions Income after tax, employee profit-sharing, 32 134 510.84 14 227 752.10 8 570 887.81 10 224 357.57 12 789 363.11 depreciation and provisions 51 138 788.70 48 361 430.75 28 608 820.75 6 553 444.01 (5 874 596.44) Dividends 7 393 255.76 5 827 997.80 4 439 417.00 3 414 936.00 2 039 662.00 PER SHARE DATA Earnings per share after taxes, employee profit-sharing but before depreciation and provisions Earnings per share after tax, depreciation 2.42 1.83 1.09 0.49 0.20 and provisions 1.49 1.41 0.84 0.19 (0.17) Dividend per share 0.22 0.17 0.13 0.10 0.06 PERSONNEL Average number of employees 584 536 477 451 515 Total payroll Total benefits 19 097 380.59 17 038 324.73 13 770 950.28 14 764 103.00 13 640 175.35 (social security, welfare benefits, etc.) 7 926 131.10 6 556 478.31 5 478 868.45 5 129 570.00 5 446 832.66 ENGLISH
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La Péronnière - B.P.9 - 42152 L
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1964 : Grue mobile H50 ingénieuse
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Could you comment on 2007 results ?
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Comment voyez-vous 2008, l'année s
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Espagne/Spain Roumanie/Romania Site
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2007 - Pinguely Haulotte

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