Manitou ‘ahead of schedule’

By Joe Malone09 March 2018

Manitou has posted a year-on-year revenues increase of 19% to €1.59 billion for 2017, claiming to be a year ahead of schedule.

Manitou no caption

The manufacturer also saw its earnings before interest, taxes, depreciation and amortization (EBITDA) rise 25.3% to €124 million.

The company said it had strengthened its sales position and expanded its operations outside of France, following acquisitions made in India and Australia. Manitou also noted a return to profitability for its compact equipment products division in 2017, following two “difficult years” beforehand.

Michel Denis, president and CEO, said, “All of these elements enable us to predict for 2018, at constant exchange rates, a growth in sales revenues above 10% and an improvement in recurring operating income of around 50 base points, equivalent to approximately 6.5% of sales revenues.

“Our vision is that by 2022, the Manitou group will strengthen its leadership position by providing innovative and cutting edge solutions across the globe and by expanding its range of products and services.”

Denis added that Manitou would continue to expand its commercial presence to increase its market share and deliver sustainable growth.


Latest News
ELEO opens new advanced battery facility
Company gets the royal touch as King Willem-Alexander of the Netherlands attends opening of Helmond site
United shatters records for Q4, full year
Company tops $11 billion in total revenues for full-year 2022, forecasts nearly 22% increase in total revenues for 2023
ALL grows fleet of Manitowoc lattice-booms
The acquisition includes two new Manitowoc MCL300 VPC, two additional VPC-MAX attachments, one MLC300 luffing jib attachment and one MLC650 11.5-foot-wide boom attachment.