Manitou RT Forklift Sales Up 16 Percent

Jean-Christophe Giroux, president and CEO of Ancenis, France-based Manitou, said that the first quarter of 2012 is building on the momentum of the 2011 and is substantiating the company’s 2012 operating plan. The first quarter combines growing revenue, sustained order intake, and a high backlog that provides good visibility for the first half of 2012 and beyond, he said. Northern Europe, the United States, and Asia are showing resilient signs for positive business, Giroux added.

 

“At the same time, we are happy to see the first results in our internal reforms, with a better appreciation for end-demand and a more fluid operational chain. Irrespective of the unstable environment, we are positive 2012 will be for Manitou the year of the refoundation, with a new performance to sustain our mid-term ambitions,” he said. More information on this strategy will be unveiled at the end of May.

 

“We confirm our 2012 objectives, with revenue up 10 to15 percent and EBIT margin up 1 point,” he added.

 

The Rough Terrain Handling (RTH) division posted revenue of €221.4m ($291.1 million), up 16 percent compared with Q1 2011. Construction continues to progress, thanks to seasonal and rental firms pull effect. Growth comes from Northern Europe and Americas primarily while Southern Europe shows some early slow-down signals associated with the general economic environment. Agriculture also continues to be healthy outside Southern Europe.

 

The Industrial Material Handling (IMH) division generated revenue of €40.7m ($53.5 million), up 20 percent vs. Q1 2011. Forklift trucks, warehousing, and masts sub-contracting activities went quite well on all areas. The launch outside France of the new industrial forklift range taps a new expansion potential in a more uncertain environment however.

 

With revenue of €53.6m ($70.5 million), the Compact Equipment (CE) division registered 31 percent increase vs. last year. In North America, rental firms motivated by renewal needs and a better construction market are back to an unseen level of activity over a three-year period of time. In Europe, the division continues to organize its distribution structure and suffers from a deep market slowdown in Southern Europe.