13.03.2026

Proft fall at Manitou

Telehandler and aerial lift manufacturer Manitou has published its full year financial results, which show a steep drop in profits.

Total revenues, as we already published, were €2.56 billion, 3.4 percent lower than that achieved in 2024. For the fully detailed revenue breakdown for 2025 - See: Strong finish for Manitou

Pre-Tax Profit
Pre-tax profit for 2025 was €106 million, 39 percent lower than that achieved in 2024, when the company posted a pre-tax profit of €173 million. This was due to lower gross margins, higher sales and admin costs, higher R&D expenditure and one off charges, partly offset by lower finance costs.

Net Debt
Manitou managed to slash its net debt by 42.7 percent to €212 million, compared to the position at the end of December 2024.

Outlook for 2026
As a result of the activities in the Middle East and Iran, Manitou has declined to provide any view on what it expects to achieve in the current financial year, saying: "The group is pleased with its dynamic order book. But In view of the conflict that has just broken out and its potential consequences, the communication of the 2026 guidance is
deferred."

Vertikal Comment

These raw numbers hide the fact that the company posted a strong fourth quarter uptick and that, compared to many of its competitors, Manitou is doing pretty well. There is certainly plenty of positive news from the company, and chief executive Michel Denis should be happy, or even proud of the business that he will be handing over to his successor, when he steps down in June, after 12 years at the helm.