Slides
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2026 Half-Year Results Outlook September 9th 2026
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Index I. Impacts of standards IAS 29 (*) II. 2026 Half-year: sales and results III. Recent activity and outlook (*) IAS 29 : hyperinflation in Argentina and Turkey
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Impact of standards IAS 29 (*) (Period from 01.01.2026 to 30.06.2026) (*) IAS 29 : hyperinflation in Argentina and Turkey, I.
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Global income statement IAS29 : hyperinflation in Argentina and Turkey in € Million (excluding IAS 29) Var. H1 2026 H1 2025 Var. Net sales +15 (1) (2) +12 +6 - - +6 3,0% 0,7% 2,9% 0,8% +5 - 2 +7 2,9% 1,1% 2,9% 0,1% +6 (1) 2 +9 -0,5% -2,7% 0,1% -1,5% +9 (1) 2 +12 -3,7% -7,1% -3,1% -8,0% Consolidated Net Income A-B H1 2026 H1 2025 A B Global IAS 29 H1 2026 H1 2025 Excluding IAS 29 8 264 277 262 (19) 8 276 2 - 1 8 Income before tax 3 (7)(1) 2 Current Operating Income excl. FX gains & losses 8 Operating Income (9) (9) (21)(10)
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2026 Half-year: Sales and results (Period from 01.01.2026 to 30.06.2026) II.
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MAIN FACTS H1 2026 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. The recovery of the North American market is supported by large-scale projects (data centers, AI, semiconductors, infrastructures...). After two years of sharp decline, the Chinese market also appears to be recovering. The rest of the region presents a more mixed picture overall, adversely affected by the situation in the Middle East. The recovery seen in Europe since late 2025 has been confirmed across majority of markets. Latin America offered the least favorable market environment during the period. The impact of the tariffs introduced in Europe on machines imported from China remains difficult to assess. Chinese manufacturers continue to gain ground across most regions, particularly in unregulated markets.
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MAIN FACTS H1 2026 43% 3% ASIA - PACIFIC NORTH AMERICA Source: AEM statistics in volume, June 2026 Global aerial work platform market Market weight (H1 2026 / FY 2025) Market trends 42% 23% 31% 4% EUROPE LATIN AMERICA 24% 30%
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Main Facts H1 2026 8 February 2026 Manufacturer warranty extended to 2 years on all genuine Haulotte spare parts. April 2026 New Compact Dual models: increased versatility with easy selection between indoor and outdoor modes. March 2026 Launch of the Extra Step option: an additional 49 cm of height for greater efficiency in confined areas.
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Main Facts H1 2026 9 May 2026 Haulotte and Builder Assist collaborate on robotics for elevated construction works. June 2026 HIRE26: Haulotte Australia wins “Supplier of the Year” award for the seventh consecutive time. June 2026 UUT (Ukrainian Unmanned Technologies) partners with Haulotte to industrialize unmanned ground vehicles.
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MAIN FACTS H1 2026 Consolidated revenue for the first half of 2026 increased by +7% to €276 million (at constant exchange rate, excl. IAS 29), driven by a particularly strong second quarter, with revenue up 18% year on year. Europe was the main contributor to sales growth, with sales up +19% (at constant exchange rate, excl. IAS 29), driven by strong volume increase. Production costs management continued during the first half of 2026 driven by lower component prices, ongoing optimization initiatives and higher volumes. Haulotte posted a current operating income of +€8 million (excl. foreign exchange gains and losses) representing a current operating margin of +2.9% of revenue, a growth of +€6 million compared with 2025, driven by significant growth in sales volumes and effective control of production costs, while continuing to optimize its 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). 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.
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Sales breakdown by activity 11 Var. Var. at constant exchange rate Equipment sales 234 215 + 9% 85% 81% + 10% Rental sales 8 12 - 27% 3% 4% - 22% Services 34 37 - 8% 12% 14% - 6% Total 276 264 + 5% + 7% in € Million (excluding IAS 29) H1 2025H1 2026
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Sales breakdown by zone of activity 12 Var. Var. at constant exchange rate Europe 172 145 + 18% 62% 55% + 19% North America 56 60 - 6% 21% 23% + 1% Latin America 14 20 - 29% 5% 8% - 24% Asia - Pacific 34 39 - 12% 12% 15% - 13% Total 276 264 + 5% + 7% in € Million (excluding IAS 29) H1 2025H1 2026
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in € Million (excluding IAS 29) Var. Net Sales +12 +6 2,9% 0,8% +7 2,9% 0,1% +9 0,1% -1,5% +12 -3,1% -8,0% H1 2025H1 2026 (9) 1 2 264 Current operating income excl. FX gains & losses Consolidated Net Income - 8 (9) Operating Income Income before tax 8 276 (21) 13 Current operating income (excluding FX gains and losses) at 2.9% of Net Sales
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in € Million (excluding IAS 29) 1 M€ Change in gross margin 4 M€ Fixed costs 3 M€ Bad debts 0 M€ Exchange gains and losses 0 M€ Other non recurring items 0 M€ 8 M€ 2025 H1 Operating income 2026 H1 Operating income Operating income of €8 million, up by €7 million vs 2025 14
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15 Gross margin increase by €4 million compared to 2025 Gross margin rate stands at 22.7% compared to 22.5% last year. in € Million (excluding IAS 29) 59 M€ Impact of volume and mix on new machines sales 4 M€ Impact of price and FX on new machines sales -2 M€ Margin on 2nd hand machines sales 1 M€ Impact of manufacturing performance 2 M€ Impact of raw materials 3 M€ Margin on Service & Rental activity -4 M€ Inventory provision, warranty & others 0 M€ 63 M€ 2025 H1 Gross Margin 2026 H1 Gross Margin
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Fixed costs decreased by -3% (excluding bad debt provisions, at constant exchange rate) 16 Positive forex impact of +€1 million excluding bad debt provisions. • Fixed costs of H1 2025 have been restated to include the impacts of IFRS16 in € Million (excluding IAS 29) H1 2026 H1 2025 Var. Commercial costs 18 18 (0) G & A 29 31 (2) R & D 7 8 (1) Total (excl. depreciations) 54 57 (3) Bad debt provisions (0) (0) (0) Total fixed costs 54 57 (3)
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in € Million (excluding IAS 29) 30.06.2026 31.12.2025 Change in inventories (2) (37) Change in trade receivables 14 - Change in trade payables (15) (2) Change in other receivables and payables 4 (3) Change in operating WC 1 (42) Other changes (FX effect…) 0 (16) Working capital* 190 189 Change in operating working capital 17 The WCR decreases from 133 to 132 days of revenue in June 2026. The DSO stands at 51 days of revenue at the end of June 2026, compared to 54 days at the 2025 closing. • WCR as of 31.12.2025 has been restated to include the impacts of IFRS16 and the classification of financial instruments
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Cash flow statement 18 • Cash flow statement as of 30.06.2025 has been restated to include the impacts of IFRS16 and the classification of financial instruments in € Million (excluding IAS 29) 30.06.26 30.06.25 Gross cash flows from continuing operations 10 6 Change in operating working capital (1) (1) Change in receivables from financing activities 1 (1) Cash flows from investment activities (4) (3) Cash flows from financing activities 21 (25) Net change in cash and cash equivalents 27 (24)
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Net debt (excluding guarantees) broadly stable at €205 million 19 • Net debt excluding guarantees as of 31.12.25, 30.06.25 and 31.12.24 include IFRS16 debt. in € Million 30.06.2026 31.12.2025 30.06.2025 31.12.2024 Long term debt 167 163 61 214 Short term debt 92 83 213 59 Total financial debts 259 246 275 273 Cash 39 29 31 35 Net debt 220 217 244 238 Of which guarantees 15 16 17 18 Net debt excl. Guarantees 205 201 227 220
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Weight of financed sales down to 7% of machine sales 20 in € Million (Excluding IAS 29) H1 2026 2025 2024 2023 Financed sales 17 48 36 53 Equipment sales 234 420 536 672 % of equipment sales 7% 11% 7% 8% Receivables on financed sales 38 40 38 41
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Financing and Group cash reserves 21 Syndicated loan : Haulotte signed, on December 16th 2025, a new syndicated loan agreement with its banking partners for an amount of €130M, identical to the previous facility, of which €90 million was utilized as of 30 June 2026. 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. State Guaranteed Loan: The PGE, with an initial amount of €96 million, obtained from all the lenders of the syndicated loan and BPI France in June 2022, matures in June 2028. It is amortizable quarterly from September 2024 As of the end of June 2026, €48 million had been repaid, of which €12 million repaid during first semester 2026.
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Recent activity & outlook III.
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Market context 2026 Despite continued economic and geopolitical uncertainty, the global aerial work platform market is expected to maintain the stronger level of activity seen so far through the rest of the year. The U.S. market is expected to drive this recovery, supported by major projects. The commercial aggressiveness of Chinese manufacturers continues to be a reality across all markets. Supply chain disruptions and price pressures on certain components, linked to the situation in the Persian Gulf, are expected in the second half of the year. The impact of increased customs duties in Europe on the behavior of the various manufacturers seems limited.
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GLOBAL TRENDS BY ZONE 24 NORTH AMERICA++ EUROPE+ LATIN AMERICA= ASIA - PACIFIC+
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2026 outlook & challenges 25 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. The Group's main challenges for 2026: Continue efforts to optimize working capital requirements, particularly inventory levels, to maximize free cash flow. Continue ongoing initiatives to restore margins through the optimization of production costs. Continue efforts to optimize operating expenses and defer non-strategic investments. Continue initiatives aimed at improving operational efficiency.
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Haulotte Group Appendices
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H1 2025 restated P&L 27 in € Million 1 (9) (21) 1 Net sales 264 - 1 Current Operating Income excl. FX gains & losses Operating Income Income before tax Consolidated Net Income - (9) (21) - (0) 1 264 H1 2025 excl IAS29 & excl IFRS 16 IFRS 16 H1 2025 excl IAS29 restated 2
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H1 2025 restated fixed costs 28 in € Million H1 2025 excl IAS 29 & IFRS16 IFRS16 H1 2025 excl IAS29 restated Commercial costs 18 - 18 G & A 32 1 31 R & D 8 - 8 Total (excl. depreciations) 58 1 57 Bad debt provisions - - - Total fixed costs 58 1 57
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H1 2025 restated cash flow statement 29 in € Million 30.06.25 presentation IFRS 16 Fair value of financial instruments 30.06.25 restated Gross cash flows from continuing operations 6 4 (4) 6 Change in operating working capital (5) 4 (1) Change in receivables from financing activities (1) (1) Cash flows from investment activities (3) (3) Cash flows from financing activities (21) (4) (25) Net change in cash and cash equivalents (24) - - (24)
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2025 restated operating working capital 30 in € Million 31.12.25 presentation IFRS 16 Fair value of financial instruments 31.12.25 restated Change in inventories (37) (37) Change in trade receivables (0) (0) Change in trade payables (2) (2) Change in other receivables and payables (3) (3) Change in operating WC (42) - - (42) Other changes (FX effect…) (19) 3 (16) Working capital* 189 189
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2025 restated net debt 31 in € Million Dec 25 June 25 Dec 24 Long term debt 150 49 200 Short term debt 78 208 53 Total financial debts 228 257 253 Cash 29 31 35 Net debt 199 226 218 Of which guarantees 16 17 18 Net debt excl. Guarantees 183 209 200 Debt IFRS16 18 18 20 Net debt excl. Guarantees incl IFRS16 201 227 220
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Assets in € million 30.06.2026 31.12.2025 Non Currrent Assets 177 175 Goodwill 12 13 Intangible assets 30 30 Property, plant and equipment 76 76 Right-of-use assets (IFRS 16) 18 19 Financial assests 5 4 Deffered tax assets 15 13 Trade receivables from financing activities (> one year) 17 19 Other non current assets 4 1 Current Assets 367 338 Inventory 171 171 Trade receivables 103 87 Trade receivables from financing activities due (< one year) 21 21 Other assets 31 27 Cash and Cash equivalents 39 29 Financial derivative instruments 2 3 Total Assets 544 513 Balance sheet assets as of June 30, 2026 (including IAS29) 32
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Balance sheet liabilities as of June 30, 2026 (including IAS 29) 33 Liabilities and Shareholders' equity in € million 30.06.2026 31.12.2025 Shareholders' equity before minority interests 139 143 Minority interests -1 -1 Non current liabilities 191 179 Long-term borrowings 155 150 Non-current lease liabilities (IFRS 16) 12 13 Deferred tax liabilities 9 10 Other non current liabilities 8 Provisions 7 6 Current liabilities 215 192 Trade payables 76 61 Other current liabilities 34 36 Current borrowings 86 78 Current lease liabilities (IFRS 16) 6 5 Provisions 13 12 Liabilities and Shareholders' equity 544 513
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Upcoming events 34 Third Quarter Sales: October 27th, 2026 Annual Sales: February 9th, 2027
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Stock exchange ID 35 Euronext Paris Compartiment C ISIN FR0000066755 Mnémo PIG Reuters PYHE.PA:PAR Bloomberg PIG FP CACS
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Shareholders at June 30th, 2026 36
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Glossary 37 Variation at constant exchange rates: Change in revenue adjusted for the impact of foreign exchange fluctuations (application of prior- year exchange rates to current-year data). IAS 29 – Hyperinflationary Economies: IFRS standard governing the restatement of financial statements in countries experiencing hyperinflation. IFRS 16 – Leases: IFRS standard defining the accounting treatment of lease contracts, including the recognition of right-of-use assets and lease liabilities. Aggregatesexcluding IAS 29: Financial indicators adjusted to exclude the impacts related to the application of these standards. WCR – Working Capital Requirement: Resources required to finance the operating cycle (inventories, trade receivables, operating payables). DSO – Days Sales Outstanding: Average number of days required to collect trade receivables. G&A – General & Administrative Expenses: General and administrative expenses (excluding production costs and customer impairment). R&D – Research& Development: Expenses related to innovation, design, and improvement of products and services. MBA – Gross Operating Cash Flow: Operating cash flow before changes in working capital requirement, investments, and financing activities.
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Haulotte Group Thank you for your attention