dakar 2006 intermat 2006 dakar 2006 intermat ... - Pinguely Haulotte

N°3- 12/2005
CeMAT TRADE FAIR
Haulotte unveils
its “Industrie” range
The Haulotte Group
made a notable
appearance from 11 to 15
October 2005 at the CeMAT
trade fair in Hanover (Germany),
which will provide a meeting place
for logistics industry professionals
every three years.
68,500 visitors, 1,000 exhibitors over 80,000 m2 (861,000 ft2 ): CeMAT proves itself year after year
as the world standard in industrial logistics.
A must-visit meeting place for every logistics,
transport, handling and storage professional.This was the perfect opportunity
for Patrick Degen, Director of the Haulotte Group’s German subsidiary, and
his team to meet potential customers from all over the world.
The curious and the knowledgeable came to scrutinise the technological
innovations, including part of Haulotte’s electric range, suitable for industrial
maintenance work: the Quick Ups, the Star mast range, Compact scissor lifts
and articulating booms.
CeMAT confirms buyers’ devotion to reliable products which are adapted to
different operating environments: in five days, more than 200 contacts were
made on our stand.The proof that the Haulotte Group can change to suit the
demand.
HaulotteTime is a publication of the Pinguely-Haulotte, SA Group with a capital of € 4 439 416.8 - RCS Saint-Etienne B 332 822 485 France
Director of Publications: Alexandre Saubot - Redaction: Isabelle Laplume - Tel: +33 (0)4 77 29 24 24 - Fax: +33 (0)4 77 29 43 95 - email : ilaplume@haulotte.com
ISSN in progress. Legal deposit upon publication - Haulotte Time has editions available in French, English, Spanish, German, Italian. Circulation: 8.800 copies.
Designed and produced : double impact - Non-contractual document.All rights reserved.
Pinguely Haulotte - La Péronnière - B.P. 9 - 42152 L'HORME - France - Tel. +33 (0)4 77 29 24 24 - Fax +33 (0)4 77 29 43 95- e-mail : haulotte@haulotte.com - Web : www.haulotte.com
The Haulotte Group
publishes its accounts
to IFRS standard
Like all other European listed companies,
the Haulotte Group abandoned French
accountancy rules on 1 January 2005 in favour
of an international standard, called IFRS
(International Financial Reporting Standard).
This was a minor revolution for French companies, as
Jacques Benoit, Group Controller explains: “French
accountancy is more geared towards fiscal administration.
Conversely, the IFRS standard takes a completely economic
approach to transactions, better reflecting the true worth
of the company.” This is a new approach which could be
summed up as follows: “substance over shape”.
Haulotte had foreseen this huge accounting building site
since September 2003, when it put into place a work
group to evaluate the impact of applying these
standards, involving the accounting and business
development teams, the IT department and external
consultants (from Ernst & Young).
“This project was a force for unification within the group
because it required the re-building of our accountancy
processes and our IT systems, and for our teams to get to
grips with a vision of transactions completely unlike
anything they were used to”, underlines Jacques Benoit.
This had a lot of impact on publishing our accounts,
“notably where financing operations or finance guarantees
for client accounts,” the Group Controller continues.
“These elements had until now been marked "off record" -
which means that they were simply given a mention in the
annexes; but from now on, they were an integral part of
our assessments.”
There were other significant changes: the company
units, the need to break down assets into their
component parts, to depreciate them over the period
of time they would be useful to the company,
and to allocate a portion of the costs of research and
development; finally, the rules for determining turnover
would be much more strict from now on.
And it was like this that the Haulotte Group’s first
quarterly accounts were published using the IFRS
format in September 2005, once the company had
taken care to provide the market with retrospective
information in IFRS format (an IFRS re-processed
assessment on 1 January 2004, a re-processed income
statement for 2004, an assessment on 31 December
2004, and a transition note detailing explicitly
the impact of switching from the French standard
to the new norms).
A surfeit of clarity which investors, clients and suppliers
surely appreciate…
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