Manitou Reports Strong Finish To 2017

30 January 2018

Manitou Group, a global supplier of all-terrain fixed, rotating and heavy-duty telehandlers, all-terrain, semi-industrial and industrial masted forklifts, wheeled and tracked skid-steer loaders, backhoe loaders, access platforms, truck-mounted forklifts, warehousing equipment and attachments sold under the Manitou, Gehl and Mustang brands, announced a strong finish to 2017.

Fourth quarter revenues were €432 million, 35% ahead of the same period in 2016. Total 2017 revenues were €1.591 billion, a 19% improvement over 2016, the company said.

“The Group ended the financial year having strengthened its market share and grown its sales revenues by 19%,” said Michel Denis, Manitou president and chief executive officer. “Development was recorded in all geographical regions.

“In terms of sector, construction has seen the liveliest growth, driven by market momentum and strengthened activity with European and North American rental companies. In the agricultural sector, our new range of telehandlers has enjoyed even greater success. This has enabled us to strengthen our position in a market that is buoyant again. Lastly, in industry, the Group has bolstered its positions in the industrial and all-terrain handling equipment segments.

The Material Handling & Access (MHA) division recorded fourth quarter sales of €300 million, a hike of +43% compared with the same period of 2016 and a 21% increase over 12 months, the company stated. The Compact Equipment Products (CEP) division posted sales revenues of €68 million, an increase of 31% over 2016 and 20% over the last 12 months.

With sales revenues of €64 million, the Services & Solutions (S&S) Division recorded a 9% increase in its activity compared with the fourth quarter of 2016, up by 12% over 12 months. Manitou said the overall recovery in group markets was supported by a rise in requirements for parts. The division also further diversified its revenues again with a ramp-up in sales of accessories, used equipment, rental solutions and services.

“The depth of the order book and the robust state of the markets across all geographical regions and business sectors allow us to anticipate for 2018, at constant exchange rates, a growth in sales revenues of 10% compared with 2017 with a stronger growth on the second semester than the first part of the year,” Denis said.


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