Manitou posts 6% sales increase for first half 2015

Manitou, a maker of telehandlers, aerial platforms and forklifts, has reported sales for the half year 2015 up 6% to €681 million. The company, based in Ancenis, France, also reported net income of €17 million versus €14 million for the same period last year. Order intake on equipment in second quarter of this year was €252 million versus €248 million in Q2 2014. "The growth regions remained in North America and northern Europe, however with less sustained momentum than last year,” said Michel Deni
August 5, 2015 Read time: 2 mins
2106 Manitou, a maker of telehandlers, aerial platforms and forklifts, has reported sales for the half year 2015 up 6% to €681 million.

The company, based in Ancenis, France, also reported net income of €17 million versus €14 million for the same period last year.

Order intake on equipment in second quarter of this year was €252 million versus €248 million in Q2 2014.

"The growth regions remained in North America and northern Europe, however with less sustained momentum than last year,” said Michel Denis, chief executive of Manitou.

“France, impacted by a decrease in construction activity and Russia, hit by political and economic strains, were the two countries which decreased significantly. From a sector point of view, the agricultural sector stabilised and the construction sector benefited from the activity of rental companies outside France,” he said.

The material handling and access division achieved half-year sales of €427 million compared to €425 million in the first half of 2014, a decrease of 1% at constant exchange rates.

The company said that their compact equipment products division was significantly impacted by a major revaluation of the dollar and achieved sales of €145 million, an increase of 26% compared to H1 2014. After several years of strong growth, the American markets appear to be calming. In the other regions, the strengthened dollar burdened the competitiveness of exports from the USA as well as the profitability of division.

Manitou confirmed its previously stated outlook for an increase in sales of around 6% and a margin on recurring operating income of around 4.5% for the full year.
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