Manitou reports strong results

Published: February 01, 2012

Jean-Christophe Giroux, the president & CEO of French material handling manufacturer Manitou Group, has announced strong trading figures for Q4 2011.

Revenue in the final quarter of 2011 was €310m, up 27% year-on-year vs. Q4 2010. The Full Year 2011 revenue was €1,131m, up 35% versus 2010.

Monsieur Giroux declared: "Q4 is a great finish for our 2011 recovery, despite the difficult operational environment. Interestingly, we’re halfway through our 2007 peak (€1,593m) and our 2009 trough (€684m). Order intake has been strong again and our current backlog provides a fair visibility into 2012, which we see grow(ing) again by 10 to 15% over 2011.

"The economic situation is still very volatile, across countries or segments; we do our best to stay agile and grab opportunities while watching all possible slowdown signals. Operationally, we want to make 2012 a refoundation year with in-depth reforms on industrial flexibility, product plans and new ambitions for our future.

"We are convinced of the long-term potential of our markets, and determined to expand our leadership further in the coming years."

With €43.3m, the Industrial Material Handling (IMH) Division posted a 23% growth year-on-year. Forklifts have been a key driver, in France and abroad. Mast subcontracting for Toyota also went up with the introduction of a new generation of masts in September, and manufacturing operations in Beaupréau are now enjoying a progressive and steady ramp-up.

Manitou has also announced a cross-OEM agreement in the US with Yanmar, a worldwide leader in construction equipment. Manitou Americas will distribute Gehl- and Mustang-branded Yanmar mini-excavators while Yanmar will sell Compact Equipment skidloaders and trackloaders under the Yanmar brand. The partnership will reinforce the ongoing technical cooperation between the two organisations on engines.