News
03.02.2011
Manitou 2010 revenue: a true rebound
2011 should be the year of the recovery. With topline growth around 20%, EBIT performance will entirely depend upon company’s ability to improve its efficiency and manage the suppliers’ double squeeze from raw materials increase and constrained manufacturing capacity.
RTH: Rough Handling Division
In Q4, order intake and backlog increased, while production output finally progressed with EN15000 issues clearing out. The Construction market reported strongest growth, especially in France, Germany and Northern Europe with some activity from rental customers. The Agricultural market continues to increase slightly vs. Q3’10 mainly supported by equipment renewal needs.
On a full year basis, the Construction market recorded the strongest recovery supported by 2009 negative base effect and the end, mid 2010 of rental firms defleeting programs.
IMH: Industrial Material Handling Division
In Q4, order intake was slightly above H1’10. Backlog in volume ended also with a slight increase. The full year 2010 organic growth of 4% is offset by a 2009 discontinuation of a sales distribution contract in the rest of the world area.
CE: Compact Equipment Division
In Q4, order intake rebounded strongly across the full product portfolio, with some backlog build-up despite a strong ramp-up of the manufacturing throughput. In 2010 the division turnaround has been strong on all markets. The revenue growth takes advantage from the end of 2009 destocking programs, especially in the United States. The division took also advantage of commercial synergies between the Manitou, Mustang and Gehl dealers network.
