French-headquartered materials handling equipment manufacturer Manitou, is reporting an 8% decrease in revenues for the first nine months of 2025, compared to the same period for 2024.

Total revenue for the nine months of January to September 2025 reached EUR1.84 billion (USD2.13 billion), against EUR2 billion (USD2.3 billion) in 2024.

Q3 revenues for 2025 were EUR568 million (USD657 million), down 4% on Q3 revenues for 2024 of EUR593 (USD686 million).

The biggest Q3 drop in revenues was experienced in the Americas with sales down 23% to EUR109 million (USD126 million) from 2024’s EUR142 million (USD164 million)

Michel Denis, president and CEO of Manitou says while activity was down for the period “this decrease is smaller than that of our market due to the increase in our market share".

“The tightening of trade relations between the United States and the European Union with the increase in customs duties slowed down the activity in the third quarter which shows a 4.3% decline,” Denis adds. “This decline is concentrated in the North American region, which has also been affected by a weaker economic environment and unfavourable exchange rate effects.

“Despite this context, order intake for the quarter is higher than that of the third quarter 2024. The momentum is good in Europe, but with a slowdown in North America.

“The group is currently implementing several actions to mitigate the effects of the increase in customs duties. However, we anticipate that these measures will have an impact on the group’s activity by the end of this year and we are adjusting our outlook with an expected 2025 revenue decline of approximately 4% compared to 2024, and a 2025 recurring operating profit of 5.3% of revenues."