Manitou Group sets Q1 record

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Manitou Group has set its all-time record for order intake, which reached €815 million in Q1. As a consequence of this recovery, its order backlog jumped to €1,344 million, an unprecedented high level.

From an operational point of view, the company is organising the adaptation of its production line speeds, taking into account the time required to accelerate the entire supply chain and the need to recruit and train additional manpower. The situation is made more complex by tensions over the availability of certain components.

“Activity in the first quarter confirms and expands the rebound that we have seen at the end of 2020,” said Michel Denis, president and CEO. “All markets and sectors of activity have experienced extremely sustained growth.

The overall context has created an inflationary trend in raw materials and specific components, which has led to Manitou pass on these increases immediately to its tariffs. Given the depth of its order book, these rises of prices will only have their first effects at the end of the year.

“We remain fully focused on the upturn,” said Denis. “Our acceleration is still limited by an ecosystem that cannot take off any faster. We are confirming our business and earnings expectations for the year, while remaining very vigilant about the delays that could result from the lack of availability of some components or a further deterioration in the health situation.” 

Revenues by division
 
 
in millions of euros
3 months at end of March
2020
 2021
Var %
Product Division
347
388
12%
S&S Division
74
83
12%
Total
421
471
12%
Revenues by sales areas
 
 
in millions of euros
3 months at end of March
2020
 2021
Var %
 Southern Europe
152
149
-2%
 Northern Europe
152
193
27%
 Americas
79
87
10%
 APAM
38
42
9%
Total
421
471
12%

 

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About Author

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Saul Wordsworth is deputy editor of the iVT brand - which includes digital and print editions of a quarterly magazine and Off-Highway Annual, as well as ivtinternational.com. He is a keen cyclist and lives in north London.

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