Manitou posts record revenue for FY23

News Story
- 1 Feb 2024 ( #1164 ) - Ancenis, France
1 min read

Manitou, the world’s ninth biggest forklift maker, posted a record EU2.87 billion (USD3.1 billion) in sales for the full year, up 22% on the previous year.

Fourth quarter revenue was up 11% to EU814 million (USD881 million).

“All our markets and geographies recorded a positive dynamic,” says Manitou chief executive officer Michel Denis. “We are noticing a steady improvement in the fluidity of our supply chain and a gradual return to the operating practices we had before the COVID and inflation crises.”

At the end of the fourth quarter of 2023, the company’s order book on equipment was EU2.275 billion (USD2.47 billion), compared to EU3.521 billion (USD3.8 billion) in the same quarter of 2022.

“The slowdown in construction in Europe initiated in mid-2023 has continued,” Denis says.

“It has resulted in a decrease in our order book, which we have accentuated by increasing our industrial production rates and by not reopening orders for products with the longest delivery times.

“For 2024, we expect the market downturn that we are experiencing in Europe to be offset by the dynamic of the North American market, by the additional production capacity recently commissioned on lines of business that were previously saturated and by the expansion of our product ranges." 

The company’s product division posted a 25% increase in revenue for the full year, while the sales and service division delivered a 2% increase.

In other company news, Manitou reorganised its executive division, with Hervé Rochet taking on the role of chief transformation and governance officer and Céline Brard taking on Rochet’s former role as chief financial officer.

Manitou says the executive reorganisation reflects the company’s 50% growth in sales and 30% increase in headcount over the past five years.

United Rentals reports record 4Q revenue
United Rentals reports record 4Q revenue 1 Feb 2024 - Stamford, CT, United States - 1 min read
KION posts strong 1H result, raises guidance
KION posts strong 1H result, raises guidance 10 Aug 2023 - Frankfurt, Germany - 2 min read
Hyster-Yale reports healthy 2Q profit
Hyster-Yale reports healthy 2Q profit 10 Aug 2023 - Cleveland, OH, United States - 2 min read
Do you have materials handling news? Submit your news here
Inside The News
A big belated gong xi fa cai, kung hei fat choy, chuc mung nam moi and happy new year to all our readers who celebrate the lunar new year... Continue reading

Focusing on key topics that address the needs of the current market, our industry features are a great way to contribute to the materials handling conversation in 2024.

Share your insights and guidence, and show the community how your products are addressing the unique needs of today's materials handling operators.

Contributor expressions of interest are now open!

Questions? Please reach out

Words of support …

Undoubtedly, peer experience plays a crucially important role in our industry and it is extremely valuable for us to be part of the platform, where industry professionals, as well as end users can discuss and learn more about the materials handling world.

Alexandra Artemova, Marketing Specialist - Rocla AGV Solutions

Are you recruiting? Find your ideal candidate among a diverse range of materials handling professionals:

Forkliftaction's JOB MARKET

Focusing on key topics that address the needs of the current market, our industry features are a great way to contribute to the materials handling conversation in 2024.

Share your insights and guidence, and show the community how your products are addressing the unique needs of today's materials handling operators.

Contributor expressions of interest are now open!

Questions? Please reach out

Inside The News
A big belated gong xi fa cai, kung hei fat choy, chuc mung nam moi and happy new year to all our readers who celebrate the lunar new year... Continue reading

PREMIUM business

Combilift Ltd
Manufactures world class 4-way Handling Solutions

Are you recruiting? Find your ideal candidate among a diverse range of materials handling professionals:

Forkliftaction's JOB MARKET

Focusing on key topics that address the needs of the current market, our industry features are a great way to contribute to the materials handling conversation in 2024.

Share your insights and guidence, and show the community how your products are addressing the unique needs of today's materials handling operators.

Contributor expressions of interest are now open!

Questions? Please reach out