Ancenis, France-based Manitou Group posted third-quarter revenue of €286.3 million (about U.S. $371 million), a 10-percent increase compared to €259.8 for the same period in 2011. For the first nine months of 2012, Manitou posted revenue of €958.5, compared with €821.3 million a year ago, a 17-percent increase. The company confirmed its expectations of €1.25 billion for the full year, and expects 2013 to be flat.
“Q3 revenue comes in quite strong, and secures our fiscal-year landing of €1.25 billion for a 10-percent growth over 2011,” said Manitou president and CEO Jean-Christophe Giroux. “However, our focus is already on 2013, despite a very blurred environment. Order intake remains very volatile from one week to the next; Europe clearly slows down, but U.S. is quite strong with rental coming back. We already adjusted our manufacturing capacities to match a softer business demand in H1, without compromising the expected rebound in H2, with the anticipation of a better economic climate in Europe and rental business coming back.”
The Rough-Terrain Handling Division generated €186.9 million, up 1 percent year over year, with construction affected by higher uncertainty in Northern Europe. The Industrial Material Handling Division posted €36.8 million in revenue, a 23-percent jump. The Compact Equipment Division soared 39 percent to €62.5 percent, with North American business supported by large rental customers refleeting programs, and a kick-started partnership with Yanmar. Southern Europe, by contrast, is slow because of sluggish construction.
