Business Highlights
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Business Highlights

Hyster-Yale Materials Handling, Inc. is a leading, globally integrated, full-line lift truck manufacturer that offers a broad array of solutions aimed to meet the specific materials handling needs of customers’ applications. The Company's wholly owned operating subsidiary, Hyster-Yale Group, Inc., designs, engineers, manufactures, sells and services a comprehensive line of lift trucks and aftermarket parts marketed globally primarily under the Hyster® and Yale® brand names. Subsidiaries of Hyster-Yale Group include Nuvera Fuel Cells, LLC, an alternative-power technology company focused on fuel cell stacks and engines, on-site hydrogen production and dispensing systems, and Bolzoni S.p.A., a leading worldwide producer of attachments, forks and lift tables marketed under the Bolzoni®, Auramo® and Meyer® brand names.

  • Hyster- Yale operates as three separate segments: Lift Trucks, Attachments and Hydrogen Power Solutions.
  • Traded on the New York Stock Exchange, Ticker: HY, and is headquartered in Cleveland, Ohio with approximately 6,800 employees worldwide (as of December 31, 2017)

2017 Financial Results

  • Revenues: $2.9 billion
  • Operating Profit: $76.0 million
  • Net Income: $48.6 million
  • Cash: $220.1 million at December 31, 2017
  • Debt: $290.7 million at December 31, 2017
  • Net Debt: $70.6 million at December 31, 2017
Click here for financial detail by segment and by quarter

Leading Global Lift Truck and Attachment Manufacturer

  • #4 leading global lift truck brands in terms of units sold in 2016
  • A leading worldwide attachment manufacturer
  • Growth potential in all markets, but in particular, Eastern Europe, Asia-Pacific, Latin America and China
  • Products marketed globally primarily to independent Hyster® and Yale® retail dealerships

Global Scope of Operations

Hyster-Yale’s operations are supported by a global network that includes manufacturing facilities, service and product development centers on five continents.

Economic Engine Driven by Unit Volume

Hyster-Yale’s economic engine is driven by increasing unit volume and economies of scale. Core strategic initiatives were designed to drive the economic engine by increasing market share.

Click here to see Hyster-Yale's economic engine

Experienced Management Team

  • Strong team of long-term Hyster-Yale managers and executives with global experience
  • Supported by professionals recruited from leading industrial companies, such as Eaton, Case, Sumitomo, Ingersoll Rand and Ford

Strategic Initiatives

  • Be the leader in the delivery of industry- and customer-focused solutions
  • Be the leader in independent distribution
  • Be a leader in fuel cells and their applications
  • Provide the lowest cost of ownership, while enhancing productivity for customers
  • Grow in emerging markets
  • Be the leader in the attachments business

Lift Truck and Attachment Segments

Leading Brands and Market Share

Hyster® and Yale® are among the most recognized brands in the lift truck industry.

Both brands, along with the Company's UTILEV® brand, serve the needs of customers across the manufacturing and services spectrum and deliver core competencies in product support and fleet management.

  • Hyster® has an additional competency in Big and Jumbo Trucks, serving the needs of ports, steel and rail.
  • UTILEV® is a utility lift truck that meets the needs of basic applications.

Lift trucks and component parts are manufactured in the United States, Northern Ireland, Mexico, The Netherlands, Italy, Vietnam, the Philippines, Japan, Brazil and China.

Hyster Truck

Hyster- Yale’s attachment subsidiary, Bolzoni S.p.A., is a leading worldwide producer of attachments, forks and lift tables under the Bolzoni®, Auramo® and Meyer® brand names.

  • Bolzoni® brand is known for its lift truck attachments, forks and lift tables.
  • Auramo® brand is recognized worldwide as the paper handling specialist, focusing on paper roll clamps, bale clamps and other specialized handling attachments.
  • Meyer® brand is recognized as the inventor of the multiple pallet handler and offers a wide range of lift truck attachments.

Bolzoni products are manufactured in Italy, China, Germany, Finland, and the United States.

Comprehensive Global Product Line with a full range of Power Options, Attachments and Solutions

  • Class 1: Electric counterbalanced rider lift trucks: 1 ton – 5.5 ton capacity
  • Class 2: Electric narrow aisle lift trucks: 1.5 ton – 6 ton capacity
  • Class 3: Electric hand lift trucks: 1.5 ton – 8 ton capacity
  • Class 4: Internal combustion engine counterbalanced lift trucks, cushion tire: 1 ton – 7 ton capacity
  • Class 5: Internal combustion engine counterbalanced lift trucks, pneumatic tire: 1 ton – 52 ton capacity

See Hyster-Yale’s product line and solutions >>

Large, Global-Installed Population

  • Estimated 830,000 Hyster® and Yale® lift trucks in operation worldwide (as of December 31, 2017)
  • Large, installed base provides barrier to entry and drives ongoing parts revenue
  • Fleet Management Program provides customers with value-added solutions that include service, aftermarket parts and comprehensive management of materials handling needs.
  • Comprehensive global proprietary and “all-makes” service parts program
  • Service parts can result in recurring, higher-margin revenues
  • Aftermarket parts sales represented approximately 13% of Hyster-Yale’s annual revenues in 2017. Bolzoni’s revenues for attachments represented an additional 5% of Hyster-Yale’s 2017 revenues.

Highly Professional Dealers

  • Strong, stable network of independent dealers in key markets
  • 83% of lift truck sales are through dealer network (as of December 31, 2017)
  • Global operations supplying both Hyster® and Yale® dealer networks
  • Independently owned and operated dealers with exclusive sales and service territories
  • Certain dealers represent both Hyster® and Yale® in defined territories
  • Strong global distribution drives market share

National Accounts Program

  • Direct-sales National Accounts program
  • Focused on strategic customers with centralized purchasing and geographically dispersed operations across dealer territories.
  • 17% of lift truck sales are through National Accounts (as of December 31, 2017)

Financial Targets

  • LIFT TRUCK: Achieve a target operating margin of 7% and maintain a greater than 20% Return on Total Capital Employed
  • ATTACHMENTS: Exceed 7 percent operating profit margin target

Hydrogen Power Business Segment

Hyster-Yale’s hydrogen power business, Nuvera Fuel Cells, is an alternative-power technology company focused on fuel cell stacks and engines and associated components, while the Lift Truck segment is focused on fuel cell-powered battery box replacements and integrated fuel cell engine solutions.

  • Nuvera has patented fuel cell stack design and advanced compression and generation technology.
  • Nuvera’s industrialization and commercialization processes leverage the supply chain, quality, sales and service expertise of Hyster-Yale.

Hydrogen Power Business Financial Target

  • Nuvera’s objective as of December 31, 2017 is to reach breakeven over the next two years
Warehouse Truck with Nuvera Battery

Global Partnerships

Hyster-Yale has developed partnerships to support customer needs in equipment, financing, alternative energy and high-quality global product availability.

  • Exclusive North America joint venture in materials handling with Well Fargo to provide a secure and competitive source of equipment and operational financing for customers and dealers in the United States. In addition, Hyster-Yale has contractual relationships with leading third-party equipment financing companies to provide customer-based and/or dealer-based financing solutions on four continents: Wells Fargo in North America and Australia and New Zealand; DLL, BNP and Unicredit in Europe; DLL also in South America-Brazil, Australia and New Zealand; SMFL in SE Asia and Tokyo Century Leasing China Corporation and Ethoz Capital in China.
  • Over 40-year-old joint venture in product development and manufacturing in Japan with Sumitomo Heavy Industries
  • To ensure customers have access to the latest in energy-efficient technologies to increase sustainability, reduce operational costs and improve productivity Hyster-Yale has developed the following product development and supply partnerships:
    • Acquired Speedshield distribution rights to provide customers with leading telematics solutions, known as HYG Telematics.
    • Forged partnership with BALYO to incorporate automation solutions into Hyster-Yale’s product offerings.
    • Formal relationship to expand power solutions to include Lithium-ion batteries.
  • telemetics
  • automation
  • lithium battery

Diversified Customer Base

A diversified customer base reduces exposure to individual customer or industry risk.

  • Substantial geographic distribution with 64% of 2017 sales in the Americas market, 25% in the Europe, Middle East and Africa markets and 6% in China and other Asia-Pacific markets. Bolzoni represented approximately 5% of sales in 2017
  • Hyster-Yale markets industrial lift trucks into numerous end-user applications utilized in more than 800 industries (as of December 31, 2017)
  • No industry or customer concentration
Business Highlights

Certain statements on this page that are not historical facts are forward-looking statements. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the posting of this data to the website.