Manitou 2Q Sales Rise

July 21, 2014

Manitou Group saw a 10 percent increase in sales in the second quarter of 2014 compared to the same period in 2013. Sales gains in the compact equipment and rough terrain handling divisions offset a decline in industrial material handling sales.

The compact equipment division reported sales of €73.0 million, an increase of 17 percent compared to 2Q 2013 and the highest sales reported since 2008. The business remains strong in the U.S. Because of strong market demand, production capacity is gradually ramping up.

With quarterly sales of €248.3 million, the rough terrain handling division reported growth of 11 percent compared to the second quarter of 2013. Business in the construction sector benefitted from the continued strong demand of rental companies, as well as the strong performance of the telescopic forklift truck and aerial work platform ranges. The U.K. represented the major portion of growth recorded. The agriculture business was faced with weak and uncertain demand, which required a downward adjustment in the production capacity.

The industrial material handling division reported quarterly sales of €29.2 million, a decrease of 11 percent compared to Q2 2013. For the first half of 2013, the division reported a 1 percent increase in sales at a constant scope (excluding the impact of the termination of the Toyota distribution contract) and continued the development of its new range of MI industrial forklift trucks.

For 2014, the company predicts an increase in sales of approximately 5 percent versus 2013. The company previously predicted stable sales for the year.