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

  • Advanced, low emission, fuel efficient earthmoving
    February 23, 2012
    Manufacturers are rolling out sophisticated machines for the European, North American and Japanese markets - Mike Woof reports. This year has been a pivotal period for the development of advanced, low emission earthmoving machines. During 2011 an array of manufacturers have introduced new models designed to comply with the latest Stage IIIB/Tier 4 Interim emissions regulations introduced for
    Read More
  • Engine maker Deutz dumps full-year 2015 forecast amid poor trading
    September 16, 2015
    German engine maker Deutz Group said it will not meet its forecast for the current financial year. A sluggish second quarter with “very low” new orders means revenue is expected to fall by around 20% compared with the forecasted 10% drop, according to a corporate statement. “Consequently, the second half of 2015 will be significantly worse than the first half of the year,” the statement said. “Given the low level of business, Deutz will only be just about break even in terms of EBIT this year. Unt
    Read More
  • Roadtec bullish with strong results
    February 21, 2017
    Roadtec says that it saw a strong financial performance in 2016 and has high hopes for 2017. Part of Astec Industries, Roadtec says that it finished 2016 exceeding its sales performance goals. The firm says that the asphalt paving market benefited from the passage of the 6-year FAST-ACT Highway Bill on December 4th, 2015. Astec Industries and Roadtec played important roles in an industry-wide campaign calling for US legislators urging them to pass the bill. “Through these efforts and many others in our i
    Read More
  • RR engine sale complete
    August 2, 2024
    Rolls-Royce completes sale of small engine range
    Read More

Highlighted Content