30.01.2007

Manitowoc reports all round records

Manitowoc has reported group revenues for the full year 2006 of $2.9 billion, an increase of more than 30 percent on 2005. Earnings per share rose by 134 percent while cash flow from operations totalled $294 million, up 176 percent on 2005.

Crane sales leapt by 38 percent for the full year to $2.24 billion, with operating earnings climbing by 245 percent to $281 million. The crane group’s order book climbed by a further 10 percent on last year’s record, to $1.5 billion.

Cranes now represent over 77 percent of the group's revenues...

"Our financial and shareholder performance in 2006 is the direct result of our long-held strategy to build a global leadership position in the lifting industry," said Terry D. Growcock, Manitowoc's chairman and chief executive officer.

"We believed then that the lifting industry would experience a strong increase in activity and product demand, and today's market environment validates that belief. Manitowoc's broad product line and global footprint have positioned the company very well to continue to enjoy the benefits of strong market demand."

"The Crane segment continues to drive outstanding financial performance through its global positioning and strong product line. Our operating margin of 12.8 percent for the quarter and 12.6 percent for the full year reflects the operating leverage inherent in a world-class manufacturing organization.”