MANITOU Group has recorded revenues of €656 million for the third quarter of 2023 – an increase of 14% compared with the same period last year.
The cumulative nine-month sales figure for 2023 is €2,058 million, which is up 26% on last year on a like for like basis.
Order intake for Q3 on equipment was €216 million – down from €588 million in Q3 2022.
The manufacturer said it expects revenue growth of around 20% in 2023 compared with 2022, with an expected recurring operating profit of around 6.5% of revenues.
Michel Denis, Manitou president & CEO, said, “The group’s activity was very sustained in the third quarter, enabling us to achieve a +26% growth for the first nine months of the year compared with September 2022. The slowdown in construction and, to a lesser extent, agriculture markets is strengthening in Europe.
“Furthermore, our determination to restore shorter delivery times has led us to maintain order intakes beyond 2024 closed to dealer networks, resulting in low order intake for the quarter and a decrease in our order book, which should continue to decline in the coming quarters.
“Taken together, these factors enable us to confirm our expectation of annual revenue growth of around 20% compared with 2022, and to raise our expectation of recurring operating profit to around 6.5% of revenues.”
