05.03.2021

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 €65.15 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.