Manitou Compact Equipment Revenue Rises 26%

July 29, 2015

Manitou's Compact Equipment Products Division (CEP), which includes Gehl, Mustang and Edge, reported a 2Q sales increase of 26 percent (€145 million).

After several years of strong growth, the American markets appear to be settling, the company said. In the other regions, the strengthened dollar burdened the competitiveness of exports from the U.S., as well as the profitability of CEP.

The division finalized the relocation of its production sites during the half-year period ensuring the capacity and improved production flexibility required by the markets.

The material handling and access division (MHA) reported 2Q sales of €227 million compared to €235 million in 2014, a decrease of 3.4 percent at constant exchange rates and consolidation scope.

Manitou confirmed its outlook for an increase in sales of approximately 6 percent and a margin on recurring operating income of about 4.5 percent.