Manitou bullish for 2011

Telehandler manufacturer Manitou reports strong financial performance in 2010.
March 5, 2012 Read time: 1 min
Telehandler manufacturer 2106 Manitou reports strong financial performance in 2010. The company reports revenues of €243 million for the fourth quarter of 2010 alone, representing a climb of 35% from the previous year. Meanwhile for the full financial year Manitou's revenues hit €838 million, jumping 23% from the figures obtained in 2009. The firm reports a strong order intake, which reflects better market conditions although its backlog shows that it still has to ramp up output. Jean-Christophe Giroux, Manitou president & CEO said, "It's been a strong Q4 and a good finish for 2010 which will remain as the year of the rebound. Even if market conditions are still very tough to read, we cannot deny a better environment, and a catch-up effect in renewal cycles. The rebound has been spectacular with Compact Equipment in North America, but coming from a very low level; on a two-year sequence 2008-2010, the different patterns even out and all three divisions are down -43%. Now, with orders up 48% in Q4 versus Q3, year-end backlog is close to 7,500 units. The flipside is that we still cannot source components fast enough to deliver on this demand." Giroux added that he expects market conditions to continue to improve in 2011.
Maintenance

For more information on companies in this article

Related Content

  • Good financial results for Manitou
    July 23, 2012
    French off-highway machine manufacturer Manitou reports strong financial performance, despite tough trading conditions. Jean-Christophe Giroux, Manitou president and CEO said, “It’s been another great quarter, that somewhat contrasts with the general perception because we’re at a double inflexion point. This will not materially impact our full year 2012 revenue, which we still forecast to be up 10% vs. 2011, still within our 10-15% guidance. But we’ll adjust our runrates and throughput dynamically.”
    Read More
  • Manitou reports good performance for 2015
    February 2, 2016
    French telehandler manufacturer Manitou reports good sales for its fourth quarter in 2015. The firm achieved sales of €333 million for its fourth quarter in 2015, an 8% increase over the same period in 2014. Meanwhile sales for the full-year were also up by 3% in 2015 at €1.287 billion compared with the full-year for 2014. The order intake for its equipment in the fourth quarter of 2015 hit €322 million compared with €298 million in the same period in 2014. And the order book at the end of the fourth quarte
    Read More
  • Manitou posts 6% sales increase for first half 2015
    August 5, 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
    Read More
  • Manitou president predicts 2012 Group “Refoundation”
    May 3, 2012
    Manitou Group president Jean-Christophe Giroux said 2012 would be the year of “Refoundation” for the Group after it recorded a 19% rise in revenue in the first quarter of the year to US$416.6million (€316million). Growing revenue, sustained order intake and high backlog had, said Giroux, given Manitou a great platform for the coming year and beyond. “Things are undoubtedly getting more and more difficult in Southern Europe but Northern Europe, the US, and Asia are showing resilient signs for positive busine
    Read More

Highlighted Content