Manitou revenues rally
31 October 2022
Manitou has reported a 33% revenue increase in the third quarter of 2022, compared to the same quarter last year, amounting to €575 million.
Michel Denis, CEO of Manitou, said the revenue rise was the result of the company’s ability to accelerate its deliveries amid the supply chain crisis, which he said remains tense and uncertain. “Our teams are fully mobilised to respond to the pressing expectations of customers in markets that show no signs of slowing down.
“The increase of our order book and inflation are pushing customers to anticipate their orders to secure their future supplies. Given the depth of our order book, the implemented sales price increases will have full effect only after 2022.”
At the end of the quarter, the group’s order book stood at €3,666 million, in comparison to €2,295 million at the end of the third quarter in 2021.
With quarterly revenues of €476 million, the Product Division recorded an increase of 36% compared to third quarter 2021 and 16% for the first nine months of the year. The division is focusing its efforts on making its production more fluid due to unpredictable supply chain issues and the rising cost of components and energy.
The Services & Solutions Division (S&S) saw quarterly revenues of €98 million, representing a 21% increase, alongside a 16% rise for the first nine months of the year. The company said the the division is strengthening the capacity of its logistics platforms and continuing to reinforce its service offerings.
During Bauma last week, Manitou launched a new generation of medium height construction telehandlers developed on a common platform, along with a range of four electric rough terrain aerial platforms, the first electric compact telehandler; and the company’s first electric high-rise rotating telehandler. See this story and more about access equipment at Bauma on the AI website.
The company confirmed its expectation of revenue growth of more than 20% in 2022, compared to 2021, as well as an operating margin close to that of the first semester.