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.
Finance & Funding

For more information on companies in this article

Related Content

  • BICES invests in a new venue and a new time slot for its 2015 show
    April 21, 2015
    BICES 2015, China’s biennial international construction equipment show has made a series of step-changes by moving the venue to the New China International Exhibition Center (NCIEC) in Beijing, by bringing the timing forward from mid-October to September 22-25 2015 and by re-emphasising that the event continues to be run by the industry for the industry. Dressta vice president Howard Dale welcomed the initiatives saying it was right to hold the event where “many of China’s state-owned companies are headquar
    Read More
  • German construction equipment industry’s sales rise 8 per cent
    February 18, 2015
    German manufacturers of construction equipment reported an 8% rise in sales, amounting to €8.4 billion. The level was higher than expected and equal to sales in 2006, according to the Construction Equipment and Building Material Machinery Association (VDMA). However, the VDMA, part of the German Engineering Federation, suggested that company profits may not have risen along with sales and tough times remain ahead. “Turnover is one thing, profit is another,” Joachim Strobel, deputy chairman of VDMA, said.
    Read More
  • Sales up 30% in Volvo CE’s Q1 2018
    April 24, 2018
    Significant market demand increases in all major regions – especially in Asia - helped propel Volvo Construction Equipment to a strong first quarter of 2018. During the first three months of the year, Volvo CE saw net sales jump by 30% to SEK 20,914m (€2.013bn – up from €1.55bn in Q1 2017). Operating income rose to SEK 2,888m (€278.03m), up 79% compared to SEK 1,615m (€155.48m) in the first quarter of 2017. Operating margin also saw strong improvement, at 13.8%, compared to 10% in the same period the year
    Read More
  • UK construction machinery sales continue to rise, reports the CEA
    May 24, 2017
    UK exports of construction and earthmoving equipment showed further growth in the first quarter this year, the highest level since Q2 2015. Sales topped nearly €812 million, according to the latest report from the UK’s Construction Equipment Association. Continued healthy export sales “can be attributed to both improving demand in some of the major overseas markets, as well as the benefit of the weaker £ exchange rate since the middle of 2016, following the Brexit referendum”, report the noted. In terms of
    Read More

Highlighted Content