Strong end to 2021 for Manitou
By Leila Steed28 January 2022
France-based access equipment giant Manitou Group has reported an 18% increase in sales for 2021, with a figure of €1.87 billion.
The company’s end of year financials showed that it closed out last year with the same year-on-year percentage increase as it did in 2020, having achieving revenues of €473 million in the last three months of year.
Michel Denis, President and Chief Executive Officer, said, “The group closed the year with an 18% increase in turnover compared to 2020. It is thanks to the commitment of all the teams that this performance has been achieved in a context of increased tensions on the supply chain.
During the fourth quarter of 2021, Manitou’s order intake for equipment grew to €1.08 billion - up from €727 million for the same period last year - and its equipment orderbook increased to €2.9 billion from €918 million in Q4 in 2020.
While Manitou’s Services & Solutions Division recorded a 16% increase in revenues for the last three months of 2021, its Product Division reported sales of €382 million - up 8% on Q4 of 2020.
Denis said, “All sectors, markets and customers also contributed to a strong acceleration in demand. In Q4, order intake reached a new high, as did the orderbook with an all-time high of €3 billion.
“The industrial organisations are designed to meet the demand of our customers in an environment of supply chain pressures and price inflation. In view of these factors, the group expects its turnover to grow by more than 20% compared to 2021.”
According to Manitou, all of the division’s activities recorded sustained growth rates in line with their own market dynamics and, despite the ongoing supply chain disruption and price inflation, the company is currently projecting a 20% increase in revenues for 2022.