30.01.2013

12% annual growth for Manitou

Access and telehandler manufacturer Manitou has issued its top line revenue numbers for 2012.

The company achieved total revenues of €1.265 billion – 12 percent higher than for 2011 – with all divisions posting strong gains for the full year.

The Rough Terrain Handling business, largely telehandlers and aerial lifts, saw sales for the full year climb by eight percent to €856.6 million - just under 70 percent of the company total revenue. Fourth quarter revenues however dropped eight percent to €196.7 million.

Compact Equipment, the North American based Gehl/Mustang operation, saw the highest growth in revenue of 30 percent to €245.2 million and for the quarter by 29 percent to €67.4 million.

Revenues at the industrial division saw more modest growth of 11 percent even though the fourth quarter was down three percent.

Geographically the fastest growing region was North America where revenues increased by 40 percent for the year to €249.7 million.

Chief executive Jean-Christophe Giroux said: "We're very pleased to deliver a 12 percent annual growth over 2011. The fourth quarter uptick in order intake after a drop in third quarter, looking back, appears more to be a technical consequence of our reduced lead times.”

“Operationally, the fourth quarter has been very difficult with a steep adjustment of our manufacturing throughput, and quality alerts from certain key components that we're still evaluating from a technical and financial impact. Those elements, together with shrinking margins, will inevitably weigh on our consolidated margin, which we revise to four percent approximate range compared to our five percent guidance. This should not hide the progress towards a better operational performance and overall competitiveness moving forward."