17.10.2006

Manitou posts sharp rise

Manitou the leading producer of telescopic handlers has announced sales for the third quarter up 17.1 percent on the same quarter in 2005.

Sales in the company’s home market of France lead the way rising by over nine percent as business activity climbed.

Year to date sales are up by 12.3 percent on 2005, to €832 million, with France recovering strongly after a slow start to come in 1.6 percent higher than 2005 at €315 million.

Sales to other EU markets are up 17.6 percent to €393 million while revenues form other parts of the world climbed by 28 percent to €124 million.

The company has reported that with a strong order book taking it almost to the end of the year, it is comfortable that it will reach its upgraded forecast of 13 percent year on year revenue growth for 2006.

Vertikal Comment

These are solid numbers from Manitou keeping it at the top of the telehandler market. However with JLG increasing its telehandler sales by 50 percent, JCB announcing a substantial increase in its UK production capability, while building more units in the USA, not to mention smaller producers in Europe growing at a rapid pace, Manitou ideally needs to be growing revenues at a faster pace than this.

In the UK, the only European market of similar size to France, the strongly expanding rental sector is benefiting JCB rather than Manitou.

Meanwhile JLG is likely to gain a good foothold with its Caterpillar models. It can then exploit this more rapidly when it begins to introduce new models to the CAT dealer and rental network.

In the USA it will have a fight on its hands to grab any significant market share away from JLG.

Manitou will need to step up its game if it is to maintain its market position within the telehandler market over the long term.
JCB is already claiming to be nosing ahead in terms of the number of units built.