Manitou Group reports Q4 2024 earnings of €657 million (USD678 million) a drop of 19% year-on-year, with both its product division and services and solutions division, reporting y-o-y revenue falls of 22% (€556 million - USD573.9 million) and 1% (€101 million - USD104.3 million) consecutively .

Manitou further reports Q4 order intake on equipment of €532 million (USD549 million), a significant increase on the Q4 2023 order intake of €269m (USD227.7 million).

President and CEO of Manitou group, Michel Denis, says the numbers are in line with expectations revenues would be 7% lower in 2024 compared with 2023.

“This decline is particularly noticeable in Northern Europe, especially Germany and the Nordic countries,” Denis continues. “Fourth quarter 2024 activity is decreasing compared to 4th quarter 2023, which had reached a record level, creating an unfavourable base effect.

“For the second consecutive quarter, order intake on equipment has risen to a level not seen since the 3rd quarter 2022 by the group. This momentum confirms the gradual return of markets to more fluid operating modes.”

Denis adds Northern Europe dealer inventories are “still quite high in some countries” while the North American market recovered Q4 with the region remaining “more dynamic for the group”.

The company states that, “subject to the economic or geopolitical context”, the group expects stable revenue in 2025.

Meanwhile, Caterpillar has also released its financial results revealing Q4 sales and revenues were USD16.2 billion, a year-on-year drop of 5.26%, while revenue and sales for the full calendar year were USD64.8 billion, dipping 3.4% y-o-y.

Caterpillar chairman and CEO Jim Umpleby says the lower sales volumes of equipment to end-users accounted for the reduced sales volumes across the group throughout the year.

"As we kick off our centennial year, we remain committed to serving our customers, executing our strategy and continuing to invest for long-term profitable growth,” he adds.