MANITOU group has reported revenues of €657 million for the final quarter of 2024, down 19% compared with the same period 12 months earlier.
The firm announced cumulative 12-month sales of €2,657 million, a 7% drop on 2023.
Q4 order intake on equipment was €532 million compared to €269 million in Q4, 2023, with Manitou confirming expected recurring operating profit in 2024 above 7% of revenues.
The group added that the expectation is for ‘stable’ revenue in 2025 compared with 2024.
Michel Denis, president & CEO, said, “The group’s 2024 revenues are in line with its expectations, 7% lower than in 2023. This decline is particularly noticeable in northern Europe, especially Germany and the Nordic countries.
“4th quarter 2024 activity is decreasing compared to 4th quarter 2023, which had reached a record level, creating an unfavourable base effect.
“For the second consecutive quarter, order intake on equipment has risen to a level not seen since the 3rd quarter 2022 by the group. This momentum confirms the gradual return of markets to more fluid operating modes. In northern Europe, however, dealers’ inventories levels are still quite high in some countries.
“In northern America, the market recovered during the 4th quarter and this region remains more dynamic for the group. The finalisation in 2024 of the implementation of structuring industrial resources and the launch of new product ranges in this region should enable the group to take better advantage of the favourable conditions in this territory in 2025.
“Under these conditions, and subject to the economic or geopolitical context, the group expects stable revenue in 2025 compared with 2024.”
