Manitou third quarter revenues up 10 percent
| November 01, 2012 |
With €959 million ($1.2 billion) in revenue as of Oct. 1, the company reports that it expects to meet or exceed its forecasted fiscal year 2012 revenues of €1.25 billion ($1.6 billion). Should they meet the €1.25 billion goal, it would represent a 10 percent increase in revenues over 2011.
Despite the good news, Manitou expects 2013 revenue to flatten with two constrained half-years.
“Order intake remains very volatile from one week to the next, and from one country to the next,” said Manitou President and CEO Jean-Christophe Giroux. “Europe clearly slows down but US are quite strong with rental coming back.”
The Rough Terrain Handling (RTH) Division generated 1 percent revenue growth year-over-year, with a total of $242.2 million; the Industrial Material Handling (IMH) Division generated 23% revenue growth year-over-year, with a total of $48 million; and the Compact Equipment (CE) Division generated a 39% revenue growth year-over-year, with a total of nearly $81 million.