Manitou Group, including the Gehl and Mustang brands, has reported a 21-percent increase in second quarter revenue over 2011, and a 13-percent increase versus the first quarter of this year.
The company's Compact Equipment Division posted a 24-percent increase in net sales second quarter 2012 over second quarter 2011, with a 42-percent net sales increase in the Americas alone.
In its divisional review, the French company said "In North America, large rental customers have initiated partial refleeting programs that provided good business for the Gehl-branded telehandlers. By contrast, Europe is suffering on its traditional skid steer markets due to the sluggish construction and economic situation (Southern Europe especially)."
For another assessment of Manitou's compact equipment business, see this interview with Dan Miller, president and CEO of Manitou Americas.
Manitou Group Key Financials
- Net sales (half year): 672.3 euro, up 20%
- Net sales (Q2): 356.6 euro, up 21%
- Net sales, Americas (half year): 116.6 euro, up 43%
- Net sales, Americas (Q2): 62.5 euro, up 42%