Ancenis, France-based Manitou last week announced first-quarter revenue increased 19-percent to €316 million from the first quarter of 2011 with increases in all divisions.
The Rough Terrain Handling Division posted revenue of €221.4 million up 16 percent compared with the first quarter last year. Construction continues to progress, thanks to seasonal and rental activity, the company said.
The Industrial Material Handling Division generated revenue of €40.7 million, up 20 percent from the same period a year ago. The Compact Equipment Division increased revenues 31 percent to €53.6 million from the first quarter of 2011. The company noted the demand for fleet renewal by rental firms in North American and an improved construction market as reasons for the increase.
“Q1’12 comes in as the prolongation of the 2011 momentum, to substantiate our 2012 operating plan,” said Jean-Christophe Giroux, Manitou president and CEO. “The combination of growing revenue, sustained order intake and high backlog provides some good visibility for H1 and even beyond. Things are undoubtedly getting more and more difficult in Southern Europe but Northern Europe, U.S. and Asia are showing resilient signs for positive business. We confirm our 2012 objectives, with revenue up 10 to 15 percent and EBIT margin up 1 point.”
Manitou designs, assembles and distributes material-handling solutions for agriculture, construction and industrial markets. Its equipment is manufactured under the Manitou, Gehl, Mustang, Loc and Edge trademarks.