Manitou climbs in fourth quarter
By Euan Youdale31 January 2018
Manitou has recorded growth across all its sectors in the fourth quarter of its 2017 financial year.
The Material Handling & Access (MHA) Division recorded fourth quarter sales of €300m, a hike of 43% compared with the same quarter in 2016, and a 21% increase over 12 months.
“There has been sustained growth in activity in all areas and business sectors. The division has continued to launch new products at frequent intervals with the renewal of its range of masted forklift trucks, and the return to the articulated telehandlers segment. It has equally begun distributing its first aerial work platforms and industrial forklift trucks in the US,” said Manitou in its financial statement.
The Compact Equipment Products (CEP) Division posted sales revenues of €68m, up by 31% compared with the fourth quarter in 2016, and by 20% over 12 months. “The division successfully increased penetration among American rental companies, integrated the new Indian company very quickly and leveraged the increased competitiveness of products manufactured with dollars as the currency for export outside of the US,” said Manitou.
With sales revenues of €64m, the Services & Solutions (S&S) Division recorded a 9% increase in its, up by 12% over 12 months. “The overall recovery in Group markets was supported by a rise in requirements for parts,” said the company.
The Group ended the financial year having strengthened its market share and grown its sales revenues by +19% to €1591 million.
Michel Denis, president and CEO, said, “Development was recorded in all geographical regions. In terms of sector, construction has seen the liveliest growth, driven by market momentum and strengthened activity with European and North American rental companies.
“In the quarter, our sales performance has improved, with customer orders that have continued to develop and surpass previous invoicing levels for the fourth quarter. This means that we closed the year with our order book having reached record levels, at more than €700 million.”
The depth of the order book and the robust state of the markets across all geographical regions and business sectors is expected to result in a growth in sales revenues of 10% compared with 2017, said the company, with a stronger growth on the second semester than the first part of the year”.