Posted May 8, 2018

Manitou Group achieves new quarterly record with 21 percent increase

High demand and inflationary pressures increase prices.

 "With a 21 percent increase in sales revenue, the group achieved a new quarterly record. Manitou took full advantage of favorable market trends across all geographical regions and business sectors, and of the new product ranges success. Order intake equaled the record of Q4 2017, which meant that we closed the quarter with an order book at a record high of €870m,” says Michel Denis, Manitou president and chief executive officer


  • Q1'18 revenues of €461m*, +21% vs. Q1'17, + 23% like for like**
  • Q1'18 order intake on equipment of €554m vs. €433m in Q1'17
  • At the end of Q1'18, a record level of order book on equipment at €870m vs. €461m in Q1'17
  • Anticipation of an increase in sales in 2018 of more than +15% compared with 2017
  • Anticipation of an improvement in recurring operating income of around 80 basis points vs. 2017

“In partnership with our suppliers, we are increasing our production rate to meet demand and reduce our delivery times. Our ramp-up was tempered by the difficulties experienced by certain suppliers in supporting this effort, without jeopardizing our overall growth dynamic. Above and beyond the adaptation efforts required to increase production, strong market demand had an inflationary effect on the price of raw materials and components. Manitou is passing on these increases to its customers, but over an extended period of time, because of the depth of our order book,” he reports

The action plans implemented to adapt Manitou to current market demand should be operational by the end of the first half of the year, which suggests the prospect of very strong activity in the second half. In view of these elements, we expect now for 2018 an annual growth in revenues over 15% compared with 2017 and an increment of our recurring operating income by around 80 basis points compared with 2017".