Manitou Group has reported first-quarter 2026 revenue of €648 million, up 8.0% year-on-year and 10.2% on a like-for-like basis, with growth driven by European markets and rental customers.
Order intake for the quarter reached nearly €631 million, an increase of 9.9% compared with the first quarter of 2025, taking the group’s order book to €1.2 billion.
In Europe, gross revenue rose 12.5% to €553 million (+13.0% like-for-like), supported by significant telehandler volumes and an increase in market share. North American revenue was €100 million, down 14.2% (-4.6% like-for-like), reflecting the impact of customs duties and unfavourable foreign exchange effects. In the LAPAM region, revenue came to €72 million, down 12.9% (-11.2% like-for-like), affected by a market downturn and increased competitive pressure.
The group is continuing the execution of its “LIFT” strategic roadmap, with progress on the electrification of its ranges through the launch of several construction and agricultural telehandlers, and the creation of a joint venture with Hangcha dedicated to the production of lithium-ion batteries.
Manitou expects revenue growth for the 2026 fiscal year to be approximately 5% compared with 2025, with recurring operating profit anticipated to reach around 5% of revenue. The outlook reflects higher customs duties, unfavourable trends in raw material prices and exchange rate fluctuations.
“The group achieved a very good first quarter with revenues of 648 million euros, up 8.0% and 10.2% on a like-for-like basis. The excellent momentum observed is driven by our European markets, particularly with rental companies,” says Michel Denis, president and CEO.
“On the commercial front, our business remains very well-oriented with order intakes amounting to nearly 631 million euros over the quarter, an increase of 9.9% compared to the first quarter of 2025, bringing our order book to a solid level at 1.2 billion euros.”
“At the same time, we are pursuing the execution of our ‘LIFT’ strategic roadmap, and continuing the electrification of our ranges with the launch of several construction and agricultural telehandlers and the creation of a joint venture with Hangcha dedicated to the production of lithium-ion batteries.”
“Based on the momentum of the first quarter and a robust order book, the group expects revenue growth for the 2026 fiscal year to be approximately 5% compared to 2025. The recurring operating profit is anticipated to reach around 5% of revenue. These outlooks are impacted by higher customs duties, unfavorable trends in raw material prices, and exchange rate fluctuations. Nevertheless, achieving these targets remains subject to a volatile environment, characterized by macroeconomic uncertainty, geopolitical shifts, and unstable commodity prices, all of which limit visibility on the annual net result.”
Image: Manitou
