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

  • Volvo CE reports dip in machine sales
    October 30, 2012
    Volvo CE reports a drop in machine sales of 9% in the third quarter as market demand drops. The company says that it is facing a weakening total market, which was down 11% in the year to August. This has also been combined with increased price competition and has put pressure on its third quarter sales and earnings. The company says it has reacted quickly to a slowing global market by slowing the rate of production in its factories and reducing the number of machines held in stock at its dealerships. This
    Read More
  • Terex president and CEO Ron De Feo delivers upbeat results at Conexpo 2014
    January 6, 2017
    Terex president and CEO Ron De Feo was in an upbeat mood at the manufacturer’s Conexpo press conference this week saying “2013 was a year of pretty substantial improvement for our company.” In the second half of last year, Terex saw revenues grow by 6.1% with the figure for the whole year up by 1.5%. The aerial work platform (AWP) and materials handling and port solutions (MHPS) divisions led the improvement in the second half, said De Feo.
    Read More
  • Terex president and CEO Ron De Feo delivers upbeat results at Conexpo 2014
    March 6, 2014
    Terex president and CEO Ron De Feo was in an upbeat mood at the manufacturer’s Conexpo press conference this week saying “2013 was a year of pretty substantial improvement for our company.” In the second half of last year, Terex saw revenues grow by 6.1% with the figure for the whole year up by 1.5%. The aerial work platform (AWP) and materials handling and port solutions (MHPS) divisions led the improvement in the second half, said De Feo.
    Read More
  • Wacker Neuson’s record nine month revenues, despite tough economy
    November 27, 2012
    Wacker Neuson (WN) achieved record nine month revenues in the year to September 30, 2012 – while also recording a slight year-on-year rise in Q3 2012. Group revenue in the first nine months of 2012 rose 12% to €812.6 million, compared to €727.6 million in 2011. Light equipment and compact equipment were the strongest sections, reporting increases of 10% and 14% respectively. The Americas was the strongest regional revenue driver, with a rise of 22%. In Europe, revenue grew by 8%. However, WN Group revenue f
    Read More

Highlighted Content