Manitou slashes debt
French telehandler and aerial lift manufacturer Manitou has published its full year financial results, which show a sharp reduction in net debt.
Sales, as already reported, were 24 percent lower than in 2019 at €1.58 billion, pre-tax profit came in at just under €40 million a fall of 54 percent. Net debt however was cut more than 72 percent from €208 million to €57 million.
The sales/revenue results were published in late January - see: Fourth quarter pick up for Manitou