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Manitou Group Reorganizes, Sets Goals

January 19, 2021
A telehandler lifts materials
Manitou Group has reorganized and set goals for 2025.

Beginning this month, the Manitou Group, parent of the Gehl and Mustang brands, is organized into two divisions, the Product Division and the Services and Solutions Division​.

Resulting from the merger of the Material Handling & Access (MHA) and Compact Equipment Products (CEP) divisions, the Product Division is chaired by Elisabeth Ausimour, previously president of the MHA Division.

“2020 marked the world by a health and then economic crisis of unknown magnitude," said Michel Denis, president & CEO of Manitou. "Throughout the year, the Group focused on protecting its employees, adapting its operations, optimizing customer relations, and its financial performance. We start the year 2021 reorganized and reshaped, with a new roadmap called New Horizons 2025 full of ambitions and challenges."

The New Horizons plan sets goals for 2025, including revenues of more than 2.5 billion euros, a recurring operating profit of more than 8 percent of sales, and recurring EBITDA of more than 10 percent of sales. Manitou expects to invest 460 million euro over the duration of the plan.

Denis also commented on company results at the end of 2020.

"The very good order intake dynamic observed during the third quarter was strongly amplified at the end of the year," Denis said. "However, the uncertainties resulting from a very unclear sanitary and economic environment remain strong."

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