27.04.2009

Manitou drops 46%

French based telehandler and aerial lift manufacturer, Manitou, has reported first quarter sales of €192.1 million down 46.2 percent on the same period of 2008, slightly better than forecast.

Sales in France dropped by over 50 percent to €70.5 million, revenues from other EU countries were down by almost 55 percent to €75.3 million while other regions slipped by just five percent, largely due to the addition of Gehl which contributed €20.5 million for the period.

-Spare parts sales held up better than new equipment sales slipping just 2.5 percent.

-New equipment sales fell by nearly 52.5 percent

-Sales of compact and Rough Terrain handling equipment, which includes telehandlers and aerial lifts, declined by 60 percent,

-Sales of industrial handling equipment dropped by 46 percent,

-Revenues from industrial subcontracting declined by 64 percent.
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Order intake and outlook

Order intake declined faster than shipments, falling by 75 percent compared to the start of 2008. However the Group has confirmed its forecast for a contraction in sales of around 40 percent.