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

  • Caterpillar posts record annual sales, revenues and adjusted profit per share
    February 7, 2024
    Caterpillar set a new company annual sales, revenues and adjusted profit record in 2023.
    Read More
  • Wacker Neuson improves Q3 earnings in despite challenges
    November 14, 2016
    Light and compact equipment manufacturer Wacker Neuson Group saw revenue and earnings for the third quarter of 2016 increase relative to 2015. The company said that seen over a nine-month period, revenue remained at the prior-year level, balancing out the drop in earnings experienced during the first half of the year only partly. Despite adverse market factors, including ongoing crises in many emerging markets and key industries such as the agricultural sector, the oil and gas industry and mining, gro
    Read More
  • Caterpillar reports slight sales dip for full year 2014
    February 16, 2015
    Global construction equipment manufacturer Caterpillar reported full-year 2014 sales $55.184 billion, down from $55.656 billion in 2013. Caterpillar also reported fourth-quarter 2014 sales of $14.244 billion, again slightly down at 1% from $14.402 billion in the fourth quarter of 2013. The results and a continued weak to modest improvement has dampened Caterpillar’s expectation of increased sales for 2015, likely to be around $50 billion. “Overall, we had many positives and a better year in 2014 than 2013,”
    Read More
  • Deutz delivers on strong corporate results
    July 11, 2018
    German engine maker Deutz reports that its financial results reveal a successful level of trading for the first half of 2018. The firm’s preliminary financial results for the first half of 2018 show that the volume of new orders rose by 36.6% compared with the same period in the previous year. New orders hit €1.097 billion compared with €803 million in the first half of 2017. Following the strong start to the year, new orders were also very high at €522 million in the second quarter of 2018, a 30.5% increas
    Read More

Highlighted Content