13.03.2007

Manitou profits up 19%

A strong second half pushed Manitou’s net profits for 2006 to a record €88 million a rise of 19 percent on 2005
Revenues at the French telehandler and access manufacturer ware confirmed at €1.13 billion an increase of 14.5 percent on last year.
See Manitou rises 14.5%

Gross margins posted a 25 percent increase, rising a full percentage point to 12 percent of sales reaching €88 million or 7.8 percent of sales.

The company saw a slow start to the year with the pace picking up rapidly as the year went on, sales in the second half jumped by almost 20 percent with profits increasing 38 percent.


Manitou does not provide a huge volume of detailed information on its sales, but it has said that exports rose by over 22 percent and now account for more than 62 percent of total sales.

Telehandlers, including Rough Terrain fork trucks, have been the driving force behind the company’s growth in 2006, with sales increasing by almost 18 percent compared to 2005.

The fastest growing sector in percentage terms was its access division (Maniaccess) which saw revenues jump 42 percent, although this was from a low base.

The company also reported a strengthening in its balance sheet in spite of a 72 percent increase in capital expenditure to €45 million.

Manitou is holding to its preliminary forecasts of a 10 percent increase in sales for 2007 which till take it to €1.25 billion.