Manitou posts better-than-expected results

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Manitou Group has announced results for 2020 that are above the numbers anticipated.

“The group closes the year 2020 in line with revenues of €1,585 million slightly above our expectations and with a record order intake in the last quarter,” said Michel Denis, president and CEO of the Manitou Group. “This sequence of recovery, much stronger than initially anticipated, reflects the tremendous work of the teams and gives the group a new impetus for 2021.

“In the fourth quarter, customer requests accelerated month after month to end with a magnitude previously unknown until December. All geographies and markets were dynamic, including European and North American rental companies. We thus ended the year with the second highest level of order book we have never experienced before. Given this much more favourable context and these exogenous pressures, we anticipate sales growth for 2021 of more than 10% over the previous year. “

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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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