French materials handling equipment maker Manitou Group has released its Q1 2026 financial results where it reports an 8% year-on-year (y-o-y) increase in revenue to EUR648 million (USD759 million), despite a 14.2% y-o-y revenue drop from the US.

Q1 machine order intake was EUR631 million (USD739 million), a 9.9% y-o-y increase.

Europe shows strong growth with gross revenue of EUR553 million (USD648 million), an increase of 12.5% y-o-y driven, Manitou states, “by significant volumes in telehandlers”. 

“This trend is accompanied by an increase in market share and allows the group to strengthen its positioning,” the company continues.

Revenue for North America was EUR100 million (USD117.17 million), a fall of 14.2% y-o-y, which “reflects a toughening of the commercial environment, marked by the impact of customs duties and unfavourable foreign exchange effects,” Manitou adds.

Revenue for Latin America, Asia Pacific, Africa and the Middle East combined for the quarter was EUR72 million (USD84.36 million), a drop of 12.9% y-o-y, which Manitou says is “impacted by a market downturn and increased competitive pressure”.

Michel Denis, president & CEO of Manitou Group is maintaining a cautiously optimistic outlook for growth in 2026.

“The group achieved a very good first quarter with revenues of 648 million euros, up 8.0% and 10.2% on a like-for-like basis,” Denis says. “The excellent momentum observed is driven by our European markets, particularly with rental companies.

“On the commercial front, our business remains very well-oriented with order intakes amounting to nearly 631 million euros over the quarter, an increase of 9.9% compared to the first quarter of 2025, bringing our order book to a solid level at 1.2 billion euros (USD1.4 billion).”

Denis says the company continues to pursue its Lift strategy roadmap, the electrification of some ranges with the launch of several construction and agricultural telehandlers and, the creation of a joint venture with Chinese materials handling equipment manufacturer Hangcha, dedicated to the production of lithium-ion batteries.

“Based on the momentum of the first quarter and a robust order book, the group expects revenue growth for the 2026 fiscal year to be approximately 5% compared to 2025,” Denis continues. “The recurring operating profit is anticipated to reach around 5% of revenue. 

“These outlooks are impacted by higher customs duties, unfavourable trends in raw material prices, and exchange rate fluctuations. 

“Nevertheless, achieving these targets remains subject to a volatile environment, characterised by macroeconomic uncertainty, geopolitical shifts, and unstable commodity prices, all of which limit visibility on the annual net result.”