Manitou sales up 35% with another 15% expected for 2012
By Maria Hadlow06 February 2012
Manitou has announced that its turnover figures for 2011 are 35% higher than 2010 (to €1.1billion) and expects a further 10 to 15% rise in 2012. Final quarter figures were 27% higher than the same period in 2010.
The RTH (rough terrain handling) division, which includes the access products increased 36% (to €796.3 million) in 2011 and 27% in the final quarter (€214.1 million).
Jean-Christophe Giroux, president and chief executive officer said, "Q4 is a great finish for our 2011 recovery, despite the difficult operational environment. Interestingly, we're at a midpoint of our 2007 peak (€1593m) and our 2009 trough (€684m). Order intake has been strong again and our current backlog provides a fair visibility into 2012, which we anticipate growing again by 10 to 15% over 2011.
"The economic situation is still very volatile, across countries or segments; we do our best to stay agile and grab opportunities while watching all possible slowdown signals. Operationally, we want to make 2012 a re-foundation year with in-depth reforms on industrial flexibility, product plans and new ambitions for our future. We are convinced of the long-term potential of our markets, and determined to expand our leadership further in the coming years."
Growth has been good across all Manitou's regional markets but particularly notable is the 57% growth in North and South America (The Americas) during 2011 - up 55% in the final quarter.
The Rough Terrain Handling (RTH) Division generated revenue of €214.1m up 27% over Q4 in 2010. The company said, "Construction is up especially outside Europe, while agriculture takes advantage of favourable market prices to renew equipment fleets."