Manitou hails ‘all-time record’ sales in 2023

MANITOU Group has reported revenues of €814 million for the final quarter of 2023 – an 11% increase on the same period 12 months earlier. Cumulative 12-month sales were up 22% to €2,871 million.

Order intake on equipment for the quarter was €269 million, compared to €485 million in Q4 22m.

Expectations have been raised for 2023 on recurring operating profit to more than 7% of revenues. Manitou said there is an expectation of ‘stable’ revenue in 2024 compared with 2023.

Michel Denis, president & CEO, stated, “The group ended the year 2023 with sales growth of 22%, reaching an all-time record of €2,871 million. All our markets and geographies recorded a positive dynamic.

“We are noticing a steady improvement in the fluidity of our supply chain and a gradual return to the operating practices we had before the Covid and inflation crises. The slowdown in construction in Europe initiated in mid-2023 has continued. It has resulted in a decrease in our order book, which we have accentuated by increasing our industrial production rates and by not reopening orders for products with the longest delivery times.

“For 2024, we expect the market downturn that we are experiencing in Europe to be offset by the dynamic of the North American market, by the additional production capacity recently commissioned on lines of business that were previously saturated and by the expansion of our product ranges.”